The number of coronavirus cases outside China are growingThe Dow was on the wrong side of history today, turning in a 1,031-point loss, its third-worst single-session drop ever. The blue-chip index has now given up its year-to-date gains in just one day, as COVID-19 continues to spread to more countries outside of China. The S&P 500 and Nasdaq turned in equally ugly setbacks, the latter sufferin...Read More
ZM short sellers can't be happy with today's breakoutSchaeffer's Senior Options Strategist Tony Venosa, CMT is taking a look at the shares of Zoom Video Communications Inc (NASDAQ:ZM) ahead of the company's earnings release next Wednesday, March 4. Venosa pointed out that ZM stock recently moved past the 50% year-to-date level, and is now testing a region on the charts near $36 that is equal to t...Read More
Deutsche Bank cut its price target on Foot Locker to $55 from $59Foot Locker Inc (NYSE:FL) is selling off today,following a price-target cut from Deutsche Bank. The analyst cut its estimate to $55 from $59 early this morning, which has sent FL down 3.2% to trade at $37.62, on pace for its lowest close since early September. This comes right ahead of the retailers fourth-quarter earnings report, sl...Read More
Both stocks are selling off with the broad market todayThe20 stocks listed in the table below have attracted the highest weekly options volume during the past 10 trading days, with data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. The stocks highlighted in yellow are new to the list. Below, we're going to take a closer look at ride-sharing startups Lyft Inc (NASDAQ:LYFT) and...Read More
Dine Brands posted fourth-quarter earnings that exceeded analysts' estimates The shares of Dine Brands Global Inc (NYSE:DIN) are bucking the broadmarket trend, and earlier surged to a four-year high of $104.46, following this morning's fourth-quarter earnings release. The Applebee's parent posted profits of $1.78 per share, which beat analyst's expectations, brushing off its revenue miss of $227.5...Read More
Cases of the coronavirus are rapidly spreading outside of Asia The Dow Jones Industrial Average (DJI) is eyeing its biggest one-day drop in months at midday, off over 800 points, as anxieties surrounding the coronavirus spike over reports of cases spreading outside of China at an alarmingly rapid pace. The Nasdaq Composite (IXIC) isn't far behind, struggling as the semiconductor sector and Apple...Read More
KDP remains above its year-to-date breakeven pointShares of k-cup maker Keurig Dr Pepper Inc (NYSE:KDP) are slightly lower amid the broad market sell-off this morning, down 1% at $29.22, at last check. However, the equity has landed a fresh upgrade out of Morgan Stanley to "equal weight" from "underweight," alongside a price-target hike to $29 from $28. There looks to be room for even more upgra...Read More
INTU is on track for its worst day since late 2018When we last checked in with Intuit Inc. (NASDAQ:INTU), the software concern was gearing up for a historically bullish first quarter. Today, Intuit is in the headlines after the Wall Street Journal reported over the weekend that the TurboTax maker was nearing a $7 billion agreement to buy personal finance program Credit Karma. The deal could become...Read More
Cargill will release a line of plant-based faux-meat products in April Beyond Meat Inc (NASDAQ:BYND) is spiraling today, down 5.8% to trade at $110.50 following on news that privately held food producer Cargill will launch a line of faux meat products and hamburger patties in April of this year. The company aims to be a direct competitor to Beyond Meat and its sector peer Impossible Foods by offer...Read More
Stocks are getting rocked in pre-market tradingDow Jones Industrial Average (DJI) futures are pointing to a massive pullback in stocks this morning, as the blue-chip index eyes a nearly 800-point sell-off at the open. The tech sector is set to get hit the hardest due to fresh coronavirus headwinds, with the number of cases growing substantially around the globe. This is setting up equities for one...Read More
The QQQ is approaching a key area that could indicate a top A general area that could act as a speed bump on $SPX is 3,335, which is 5 x's '09 low at 666.79. Double the low was a year-long challenge in '11-'12 and there was major sideways movement for months around triple the low in '14-'15- Todd Salamone (@toddsalamone) January 24, 2020Late last month, I observed both on Twitter and in this spac...Read More
By: Gary SavageGeneral market updates on today's big down-move. This video update includes: $ES, $AAPL, $COMPRead More
- Dave KranzlerAnd it's not just gold. The Fed is already hinting that more money printing is coming. Powell suggested at his semi-annual Congressional testimony that QE would be used in the next recession. A couple other Fed officials this week confirmed that the FOMC is preparing to crank up the printing press even more than it has been running since mid-September.But why does the Fed fe...Read More
David HaggithWho says there is no recession anywhere in sight? It depends on where you are looking. In short, manufacturing remains in recession; corporate profits remain in recession; freight remains deep in recession; Carmageddon remains in recession; and the Retail Apocalypse remains a recession for brick-and-mortar stores, while employment the last holdout is now also turning d...Read More
StrengthsThe best performing metal this week was palladium, up 11.52 percent as precious metals had a stellar week. Gold hit a seven-year high this week, holding above $1,600 an ounce to the highest since February 2013 largely on coronavirus fears. The metal also rose on speculation that the Federal Reserve will ease monetary policy before year-end. Gold remained strong even as the U.S. dollar a...Read More
Clive MaundIf you are wondering why gold is starting to accelerate away to the upside, you need look no farther than the following amazing chart forwarded to me by reader Larry Fike, which Larry has kindly given me permission to reproduce in this update...Click on chart to popup a larger, clearer version.Chart courtesy of Larry FikeThe chart speaks for itself and requires little additional comme...Read More
Now that we are hearing stories about the viral threat of superspreaders, of deepening economic paralysis around the world, and how it could take 18 months to produce a vaccine, investors' show of bravado in recent weeks seems to have melted away. Shares got hit across-the-board on Thursday and Friday, and if investors know what's good for them they'll pound the bejeezus out of them this week. A...Read More
Gold April reached a high of $1684.10 early morning (at New Zealand open). Silver march reached at high of $1879.50. Copper march fell to a low of $256.50. Crude oil fell to a low of $51.66. Early morning high (just after New Zealand open) can be fake or just stop loss hitting price moves. No doubt the trend for gold and silver is bullish. BUT still they have to break and trade over early mornin...Read More
The following article was published in 2015 on this site.....note that the cycle performed as a cycle had forecast (and we hoped). It certainly was deadly accurate wasn't it? That cycle never said just to "load up" and "watch the gold stocks rocket up" to everyone's benefit and fortune. Rather it was a sign to carefully accumulate metals stocks that were well researched and to "dollar cost average...Read More
This new finding of SilverCrest Metals and its potential to improve the upcoming project feasibility study are described in a ROTH Capital Partners report. In a Feb. 18 research note, ROTH Capital Partners analyst Jake Sekelsky reported that SilverCrest Metals Inc. (SIL:TSX.V; SILV:NYSE.American) discovered an expanse of new high-grade mineralization at its Las Chispas project in Mexico, which it...Read More