MKM Partners is dismissing concerns over Cronos' delayed earnings report Cronos Group Inc (NASDAQ:CRON) is pushing off yesterday's two-year low of $5.14, up 3.2% at $5.49, after MKM Partners lifted its rating to "buy" from "neutral." The analysts' upgrade comes one day after the weed specialist said it would delay its fourth-quarter earnings report, garnering a downgrade from Stifel. MKM, however,...Read More
Wells Fargo upgraded Chipotle to "overweight" from "equal weight"The shares of Chipotle Mexican Grill Inc. (NASDAQ:CMG) are up 4.02% to trade at $765.70 this morning after Wells Fargo upgraded the restaurant concern to "overweight" from "equal weight," and lifted its price target to $1,000 from $868. The analyst cited the expansion of its Chipotlane stores, and went on to say the security's recent...Read More
UNH has almost caught up to its year-to-date breakeven point nowLeading the Dow's charge today is UnitedHealth Group Inc (NYSE:UNH), last seen up 10.2% to trade at $287.90. This in direct response to former Vice President Joe Biden's resounding victory yesterday in the Super Tuesday primaries. Biden has now picked up 453 delegates and political momentum to pass prior favorite Senator Bernie Sande...Read More
The retailer posted fourth-quarter revenue that missed the mark Discount retailer Dollar Tree, Inc. (NASDAQ:DLTR) opened at a two-year low of $79.93 this morning, and was last seen down 1.3% at $80.76, after a mostly disappointing fourth-quarter earnings report. The company posted profits of $1.79, which exceeded analysts' estimates, but announced $6.32 billion in revenue, which missed analyst es...Read More
Former Vice President Joe Biden grabbed several big wins in last night's primariesDow Jones Industrial Average (DJI) futures are signaling an over 600 point surge going into today's trading, as Wall Street unpacks former Vice President Joe Biden's big wins on Super Tuesday, pulling ahead of Senator Bernie Sanders in the delegate count for the Democratic Primaries. This has the healthcare sector --...Read More
Past trends help us grapple with alarming pullbacks following all-time highsThe S&P 500 Index (SPX) fell into "correction territory" as coronavirus news unfolded last week. Correction territory is defined as a 10% pullback. Not only did the index pull back double-digits from an all-time high, it did so at alarming rate. In six trading days, the S&P 500 went from closing at an all-time high, to dow...Read More
Keith Weiner, Monetary MetalsMost people assume that the central bank prints money when it buys bonds. They further assume that this increase in the quantity of money causes an increase in the general price level. And, this leads them to assume that the value of the money is 1 / P (P is the general price level). Therefore, when the central bank prints money to buy bonds, it is diluting th...Read More
By: David HaggithThe Federal Reserve on Tuesday gave the market a double-dose of exactly what it thought the market needed, and the market just about died! On the theory that, if a little is good, more is better, the Fed gave a double cut of interest. It did not go as planned.At first, the medicine hit like nitroglycerin tablets, and the patient's heart leaped. You can see how instantly the pati...Read More
Oops, the coronavirus expanded into a bubble of illness and deaths. Like all bubbles, financial or otherwise, this one will expand, burst, collapse and cause collateral damage. When will the "everything" bubble collapse? When will the coronavirus be contained? How much damage will these bubbles inflict upon the economy, people and personal savings? We don't know. Stay tuned.BUBBLES IN THE PAST...Read More
Avi GilburtEarly Tuesday morning, I put out an update to our members that noted that the 3135 region as the top of our resistance region, which can point us lower once struck.Now, we all know that the "surprise" rate cut by the Fed should have been viewed as a positive to the market. In fact, most expected the Fed to act soon, and were certain how this would send the market soaring again.Howeve...Read More
In the latest update to the Rick's Picks home page, I've revised an interest rate forecast for the 30-year bond to better sit down for this 0.73%. This is an implied recession/depression away from the current 1.60%, so you may want to jot the new number down. I got a wake-up call on this from my friend Doug Behnfield, whose name will be familiar to anyone who has followed Rick's Picks for...Read More
Steve St. Angelo, SRSrocco Report The Fed injected a record amount of liquidity this morning via its Repo Market Operation to supply dealers in the interbank market. While investors may be reassured by the huge 1293 point rally on the Dow yesterday, the global contagion and its impact are just beginning. Don't be surprised to see a 40-50% correction in the Dow Jones over the next month. I'...Read More
By: Ira EpsteinFed hasn't done anything like this since 2008. The 50 basis point cut was 100% priced in this month by the market. So the Fed used some of its bullets and now..Read More
Reduction in interest rate differential (after the Federal reserve interest rate cut of 0.50%) has resulted in US dollar index falling and gold/silver prices rising. Copper and crude oil are firm on hopes that negative economic impact will be short lived. All monetary measures will be useless in the very short term by central banks if the corona virus infects more and more people worldwide. Last...Read More
The results should expand the resource and extend the mine life of the project co-owned by MAG Silver. JuanicipioIn a news release, MAG Silver Corp. (MAG:TSX; MAG:NYSE A) announced results from its 2019 diamond drill program at the Juanicipio property in Mexico.MAG owns 44% of Juanicipio, and Fresnillo, the operator, owns 56%.The 28-hole, 33,864-meter (33,864m) program expanded and upgraded the w...Read More
Balmoral Resources is to be acquired in an all-stock transaction with an equity value of about CA$110 million. Balmoral Resources Ltd. (BAR:TSX; BALMF:OTCQX) agreed to be acquired by Wallbridge Mining Co. Ltd. (WM:TSX) in an all-stock transaction, the two companies announced in a news release.In the deal, Wallbridge will acquire all of Balmoral's issued and outstanding shares. Each Balmoral share...Read More
This is the final part of my Gold price analysis that concludes in a detailed trend forecast for 2020 that was first made available to Patrons who support my work. Gold Price Trend Forecast 2020 Gold Price Trend Forecasts 2019 ReviewSEASONAL ANALYSISQE4EVERUS DOLLARLONG-TERM TREND ANALYSIS Gold / SIlver RatioTrend Analysis ELLIOT WAVESGold Price Trend Forecast 2020 Conclusion Formu...Read More
Keith Weiner, Monetary MetalsMost people assume that the central bank prints money when it buys bonds. They further assume that this increase in the quantity of money causes an increase in the general price level. And, this leads them to assume that the value of the money is 1 / P (P is the general price level). Therefore, when the central bank prints money to buy bonds, it is diluting th...Read More
By: David HaggithThe Federal Reserve on Tuesday gave the market a double-dose of exactly what it thought the market needed, and the market just about died! On the theory that, if a little is good, more is better, the Fed gave a double cut of interest. It did not go as planned.At first, the medicine hit like nitroglycerin tablets, and the patient's heart leaped. You can see how instantly the pati...Read More
Oops, the coronavirus expanded into a bubble of illness and deaths. Like all bubbles, financial or otherwise, this one will expand, burst, collapse and cause collateral damage. When will the "everything" bubble collapse? When will the coronavirus be contained? How much damage will these bubbles inflict upon the economy, people and personal savings? We don't know. Stay tuned.BUBBLES IN THE PAST...Read More