By: Dave KranzlerI sourced the chart below from a blog called The Macro Tourist. I added the title and the two yellow trend lines. The chart shows the daily price of gold since the inception of the bull market in 2000-2001. Last Friday (March 8th) gold popped $12 +/- (depending on the time from which you measure). I mentioned to some colleagues that "gold may be starting something special."The...Read More
By: Avi GilburtMany investors maintain beliefs about the stock market which often have them looking the wrong way at the market turns. In fact, I can no longer count how many comments I see about how the Fed is what directs our stock market action, and it just makes me scratch my head.The main argument by Fed watchers is that the Fed's easy money drives the stock market. Yet, the Fed's balance s...Read More
The broad averages have rallied from their Christmas lows almost as steeply as they got there in the fourth quarter. The first 2,000 points of the Dow's trampoline bounce took just seven trading days. At the time, we wrote that the trend would continue until even hardcore skeptics were convinced that new all-time highs were likely. That is what bear rallies are supposed to do. Well, another 1100...Read More
Analysts at Commerzbank, point out that gold is viewed forming a major base longer term. They warn about the key resistance at 1365.36/1375.53, signaling that a break higher could lead to rally to 1700. Key Quotes: “A weekly close above 1375.53 2016 high (and ideally above the 1392.56 2014 peak) should trigger a move eventually to just over 1700.00.” “Gold is underpin...Read More
Geopolitical uncertainty has created demand for both gold and the dollar.The result has been been a beneficial consolidation period for gold.As short interest recovers, gold will soon have enough fuel for a new rally.As global economic fears continue to proliferate, gold is still benefiting from flight-to-safety inflows which have kept prices buoyant. Yet, after the gold price peaked last month, i...Read More
Gold has turned south from the descending resistance at 1306 and priced through the 1300 level to a low of 1298.34 so far, looking for a break below with sights set on 1280. Price action likely limited until the Fed this week, but plenty of risk events on the cards to move markets. Gold prices have been recovering from the 1280 lows but has so far been unable convince o the upside wi...Read More
Artificial intelligence may revolutionize trading.Sometimes watching the market can feel like riding a roller coaster.Many investors feel glued to the news, watching the market rise and fall hundreds of points, day after day, week after week.But savvy traders know these market conditions mean huge profit potential for anyone that knows how to trade them.And one "secret" that more and more traders...Read More
Trading may not pick up until after Wednesday's Fed decisionThe Dow spent much of the day in negative territory due to more losses out of Boeing, but the blue-chip index managed to reverse higher by the close, extending its win streak to four sessions. The S&P 500 and Nasdaq followed similar paths, with both benchmarks notching modest gains after a wishy-washy session. Chances are high that many t...Read More
Analyst sentiment toward FDX is broadly optimistic, despite the dismal price actionShipping name FedEx Corporation (NYSE:FDX) is up 1.6% at $180.91 in afternoon trading, despite earlier receiving a pre-earnings price-target cut to $230 from $235 at Raymond James. The company's fiscal third-quarter earnings report is due out after the market closes this Tuesday, March 19 -- and ahead of the event,...Read More
TerraX Minerals of Vancouver has traced mineralization from the former Giant gold mine in Yellowknife onto its own TerraX target zone in the Barney Deformation Corridor (BDC). Relogging and sampling of 1,579 metres of historical drill core led the company's geologists to believe mineralization in the old cores is adjacent to historical high grade assays within vein and shear zone structures across...Read More
Apex Resources has confirmed a 1.5 km by 150 metre gold in soil anomaly at its Ore Hill gold property near Salmo, B.C., after compiling historic and modern data on the project.The data base includes 90 rock samples taken by past operators between 2016 and 2018 grading as high as 119 grams per tonne gold and 105 grams gold. All but two of the samples were taken by the properties last operator, Marg...Read More
Needham downgraded the stock to "hold" from "buy"Negative attention from Needham has the shares of Facebook Inc (NASDAQ:FB) slipping today. The analyst downgraded the stock to "hold" from "buy," citing three catalysts: "the negative financial impact of FB's strategic pivot toward privacy and encrypted messages" and "growing risks of regulation," as well as brand injury after hard-to-block images...Read More
Northland Capital is bullish on e-sports and Super League Gaming stockThe Dow is struggling today due to more trouble for aerospace giant Boeing (BA). Among stocks making particular noise today are medical device maker Boston Scientific Corporation (NYSE:BSX), regenerative tissue specialist Polarity TE Inc (NASDAQ:PTE), and esports concern Super League Gaming Inc (NASDAQ:SLGG). Here's a quick lo...Read More
After gold's plunge on Thursday, it made a comeback attempt on Friday. But that erased only half of Thursday's vigorous decline. The situation in silver and gold miners doesn't provide much ground for optimism either. The silent scream we wrote about in the Wednesday's Alert for our subscribers brought serious repercussions. Both immediately and step-by-step as in a trainwreck in s...Read More
Wall Street expects the Fed to stand pat on WednesdayThe Federal Open Market Committee (FOMC) will convene for its two-day policy meeting tomorrow, withnearly 99% of investors expecting the central bank to stand pat on interest rates, per CME Group's FedWatch tool. Further, 1.3% expect the Fed to reduce its benchmark rate, with 0% expecting a rate hike from Fed Chair Jerome Powell & Company on Wed...Read More
Gold settled with a loss on Monday, giving up earlier modest gains as traders looked ahead to the outcome of the Federal Reserve's meeting later this week. Traders also kept an eye on geopolitical developments, including the U.K.'s efforts to reach a deal on leaving the European Union, and the direction of the U.S. dollar. Gold for April delivery GCJ9, -0.20% on Comex fell $1.40, or 0.1%, to set...Read More
Gold settled with a loss on Monday, giving up earlier modest gains as traders looked ahead to the outcome of the Federal Reserve's meeting later this week. Traders also kept an eye on geopolitical developments, including the U.K.'s efforts to reach a deal on leaving the European Union, and the direction of the U.S. dollar. Gold for April delivery GCJ9, -0.19% on Comex fell $1.40, or 0.1%, to set...Read More
The major gold miners are still struggling fundamentally. Their production shrinkage is accelerating, pushing costs proportionally higher. That led to weaker sales and operating cash flows in Q4.And, accounting profits cratered into a dark abyss on enormous and suspicious impairment charges by big gold miners involved in mega-mergers. These poor results are retarding GDX's upside potential.But sma...Read More
The shares are just off a new high, but could cool off soon, if history repeatsExelixis, Inc. (NASDAQ:EXEL) shares are fresh off a new high, thanks to some upbeat analyst attention. Specifically, Morgan Stanley upgraded the biotech stock to "equal weight" from "underweight," and hiked its price target to $28 from $20, citing strong prescription trends among other reasons. However, if recent histor...Read More
Stocks extended their short-term uptrend on Friday, as investors' sentiment remained bullish following the recent advances. The S&P 500 index was the highest since the early October. But will the rally continue despite some short-term technical overbought conditions?The U.S. stock market indexes gained 0.5-0.8% on Friday, as investors' sentiment remained bullish following the recent rally. The...Read More