A US defense agency responsible for securing the communications of the president and senior officials has said it believes personal data from its systems were "compromised" during a 2019 data breach. Continue...Read More
Exactly a month ago I warned that the Corona Virus outbreak was going to pop the "Everything Bubble." I did something fairly subtle. I buried my main message under a whole heap of cow manure. It doesn't make aContinue...Read More
StrengthsThe best performing metal this week was palladium, up 4.91 percent as hedge funds cut their bullish positions to a 17-month low. January's 22 percent slump in China's car sales could dampen demand short-term. Federal Reserve Chairman Jerome Powell testified before Congress this week and commented that "low rates are not really a choice anymore, they are a fact of reality." Powell sugg...Read More
Keith Weiner, Monetary MetalsThe price of gold rose $14 and the price of silver fell $0.07. The gold-silver ratio rose further with this price action.Welcome to our new Gold and Silver Market Report, or "Market Report" for short. We are separating this from the economics essay, which was attached for many years. As they used to say in many toy commercials of yore, "batteries sold separately" or...Read More
- RambusOver the last few weeks or so I've been writing a lot on the critical inflection point the PM complex was showing us. Today's price action is an important step in confirming the potential bullish outcome. There is still more work to be done from a longer term perspective but its one step at a time until total confirmation is attained.Lets start with the daily line combo chart we've bee...Read More
By: Ira EpsteinGold still needs to take out the missile day highs. Gold looking bullish with upside bias..Read More
Gold broke past $1600 after World Health Organization had cautioned there was not yet enough data to know if the epidemic had slowed. World Health Organization (WHO) Director-General said Chinese data "appears to show a decline in new cases" but any apparent trend "must be interpreted very cautiously." Russia said it will suspend entry of many Chinese citizens. Corporate profitability will be af...Read More
Gold futures logged their fifth straight gainThe Dow bounced back with a triple-digit win today, snapping a three-day losing streak in the process. The blue-chip index was propped up by a recovery from Apple (AAPL), while the number of newly confirmed coronavirus cases came in at their lowest level since January. In addition, China's Ministry of Industry and Information Technology said it would be...Read More
SEDG and SPWR stocks are making double-digit percentage movesA number of solar stocks are moving higher today, and options traders are moving in. Starting with Canadian Solar Inc. (NASDAQ:CSIQ), the stock is trading up 5.5% at $24.80, trading at its highest point in almost a year following news the company is selling a plant in Japan for $205 million, and calls are crossing at 19 times the pace e...Read More
OLED earnings are due out tomorrow eveningApple (AAPL) supplier Universal Display Corporation (NASDAQ:OLED) is enjoying a modest 0.3% lift this afternoon, last seen at $178.31 as Wall Street gears up for the company's fourth-quarter report. Slated for after the close tomorrow, Feb. 20, below we will dive into what the options market is pricing in the for the stock's post-earnings moves, and see h...Read More
BLUE has shed 40% over the past 12 monthsGene therapy developer bluebird bio Inc (NASDAQ:BLUE) is down 9% at $80.64 in afternoon trading, sinking after weak fourth-quarter results and news its blood disorder therapy drug Zynteglo application was pushed back to the second-half of the year. Analysts have been far from happy with the news, BMO Capital saying the delay could send approval up to mid-2...Read More
Tesla and Apple are back in the spotlight todayThe S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) both hit record highs by midday, propped up mostly by a recovering tech sector. Specifically, Apple (AAPL) made a rebound after yesterday's steep sell-off, while Tesla (TSLA) climbed even higher on a price-target hike from Piper Sandler. Meanwhile, Apple's rebound is boosting the Dow Jones...Read More
ROKU options can be had for a bargain at the momentStreaming name Roku Inc (NASDAQ:ROKU) had a rough go of it in the earnings confessional earlier this month, shedding 6.3% the day after the report. However, that pullback could have bullish implications if history is any guide, as data from Schaeffer's Senior Quantitative Analyst Rocky White suggests the stock may be flashing a buy signal as it n...Read More
Options traders preferred puts on LCLendingClub Corporation (NYSE:LC) is trading down 8.1% at $12.10, following the company's quarterly earnings release and news it's buying Radius Bank in a cash-and-stock deal valued at $185 million. LC shares have been trending lower over the past year, and the 200-day moving average has acted as stiff resistance over that time. Options traders seem to be in goo...Read More
A rebound in Apple shares could help the major indexes bounce back todayU.S. stock futures are trading above fair value this morning, as the Dow Jones Industrial Average (DJI) looks to snap its three-day losing streak. Traders so far are monitoring the release of the producer price index (PPI) for January, which increased more than expected for the month. Later on, investors will be met with the F...Read More
Piper Sandler hiked its price target on Tesla all the way up to $928 from $729After a brief pullback last week, it seems like the shares of electric automaker Tesla Inc (NASDAQ:TSLA) are on their way back up the charts. In fact, the stock is already up 7% to trade at $918.31 in electronic trading this morning, after Piper Sandler hiked its price target all the way to $928 from $729, predicting the...Read More
Historical data points to an extended rallyAfter an incredible 2019 whereby equities shook off the holiday blues of the year prior and the S&P 500 Index (SPX) gained nearly 30%, you'd be inclined to think that a consolidation of price action would be in the cards, right? Well, as it turned out, a continuation of the rally predicated on super-low interest rates and a healthy fear of missing out hav...Read More
Virigin Galactic stock has been rising rapidlyWe've continued to keep a close eye on sentiment in the markets with stocks trading at all-time highs, and lately it's been hard to ignore the rise of a few "cult" stocks in recent months. Grabbing the most headlines -- and the attention of traders on a number of social media sites -- has been Tesla (TSLA), as the shares have rocketed up the charts to...Read More
Gary Christenson, The Deviant InvestorSince 2009 stocks have risen into a bubble fueled by inexpensive debt, buybacks and QE. Most commodities have not matched the price increases. Palladium is an exception more later.The ratio of the commodity index to the S&P 500 Index sits at a historic low. Commodity prices are relatively low, and the S&P 500 is too high. That ratio will reverse.WHY? The b...Read More
StrengthsThe best performing metal this week was palladium, up 4.91 percent as hedge funds cut their bullish positions to a 17-month low. January's 22 percent slump in China's car sales could dampen demand short-term. Federal Reserve Chairman Jerome Powell testified before Congress this week and commented that "low rates are not really a choice anymore, they are a fact of reality." Powell sugg...Read More