Crude oil bulls are attempting a comeback early in the week. Can they pull a rabbit out of their hats? Carefully examining the situation, we have the answer to that question. It's great to share the rich details. In the format you are used to - on time and highly actionable.Let's take a closer look at the chart below (chart courtesy of http://stockcharts.com).Yesterday, the rising green support li...Read More
Toronto-based junior Euro Sun Mining's (TSX: ESM) stock jumped over 20% on Tuesday after the company announced a non-brokered private placement financing of up to 10m units for gross proceeds of up to C$3 million.Each warrant will entitle the holder to acquire one additional common share of the company at an exercise price of C$0.50 for a period of 24 months from issuance.The Rovina Valley Project...Read More
Cowen thinks "Apex Legends" is running out of steamThe Dow is marginally higher today as investors await fresh U.S.-China trade developments. Among stocks making notable moves today, video game maker Electronic Arts Inc. (NASDAQ:EA) and electric car concern Tesla Inc (NASDAQ:TSLA) are lower, while BioNano Genomics Inc. (NASDAQ:BNGO) is higher. Here's a quick look at what's moving the shares of EA...Read More
More signs of a US-China deal boosted risk appetite initially on Monday but yesterday's pullback in indices (biggest in 4 weeks) underscores our belief that a deal is priced in. Gold is down 2% so far this month (it's only the 3rd trading day of the month), and it's the worst monthly performance since July (more on gold's notable notable monthly seasonals below). Data watcher...Read More
Gold futures finished lower on Tuesday to tally a seventh straight loss, the longest streak of daily declines in two years, as strength in the dollar and a lower economic growth forecast for China dulled demand for the precious metal. "The key reason for gold price to fall is China," said Chintan Karnani, chief market analyst at Insignia Consultants. "There is apprehension that a slower Chinese ec...Read More
The activist investor lowered his exposure to the car rental nameHertz Global Holdings Inc (NYSE:HTZ) stock is down 13.5% today at $17.29, after a Securities and Exchange Commission (SEC) filing revealed Carl Icahn cut his stake in the car rental name to 28.91% from 35.27%. This follows yesterday's after-the-close buzz that Morgan Stanley re-offered 5 million HTZ shares for $19.60-$19.65 -- a disc...Read More
Barrick Gold Corp's top shareholder said on Tuesday the miner should focus on striking a joint venture deal in Nevada with rival Newmont Mining Corp before considering a full-blown merger."My preference is a joint venture," Joe Foster of the Van Eck International Investors Gold Fund, said in a phone interview. "I don't flat out oppose a merger. If a merger is the only way to unify Nevada then mayb...Read More
AAII bears have gone into hibernation modeJust a few short weeks ago, the majority of American Association of Individual Investors (AAII) respondents considered themselves bearish on the stock market. However, in the wake of the epic 2019 rally thus far, AAII bears have gone into hibernation, now accounting for just 20% of respondents. That's a bearish exodus Wall Street hasn't seen since 2009, ac...Read More
Powell’s testimony before the Congress is behind us. The ECB meeting is ahead of us. Will Draghi support the gold prices after recent declines? Gold Falls Below $1,300 Gold bulls might be disappointed. The upward trend apparently ended. As one can see in the chart below, gold fell below $1,300 on Friday. Chart 1: Gold prices from March 1 to March 4, 2019 The decline surprised many people. H...Read More
Jefferies just started coverage with a "buy" rating and a $10 price targetThe shares ofMarinus Pharmaceuticals Inc (NASDAQ:MRNS) are popping today after Jefferies initiated coverage on the penny stock with a "buy" rating and a $10 target price -- nearly three times yesterday's close at $3.56. The brokerage firm believes the pharma company's Phase II postpartum depression data could spark a rally u...Read More
Target reported its best traffic growth in yearsStocks are cautiously higher in afternoon trading, with the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) a hair above breakeven, at last check. Traders continue to await news regarding a U.S.-China trade deal, and this morning digested a cuteconomic growth target from Beijing. Elsewhere, Wall Street is applaud...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
NFLX just pulled back to a trendline with historically bullish implicationsWhile Alphabet (GOOGL) climbs in the wake of a big bull note, fellow FAANG name Netflix, Inc. (NASDAQ:NFLX) has tapered off recently, currently mired in a four-day losing streak. However, this pullback could have bullish implications for NFLX, if history is any guide.More specifically, Netflix stock closed yesterday near i...Read More
After nearly 20 years of wrangling, a group of Nahua Indian villagers could make legal history in Mexico this month when a court rules on a land dispute involving a Canadian miner.A lawyer for villagers of Tecoltemi in the central Mexican state of Puebla said it was the first time a court would rule on whether the country's mining law – which gives priority to mining activities over other la...Read More
A simple way to stop picking losers, and start cashing in like Wall Street's elite.Most traders would never believe that 9 out of 10 trades could be winners.But while it may sound impossible, thanks to a research breakthrough, it may not be as far-fetched as many think.JPMorgan's trading desk produced a 99.52% win rate from 2013 through 2017. That includes 2 straight years without a losing day....Read More
After more than a week of tough talk firing back and forth, the leaders of the two biggest gold producers are finally coming to the table.Newmont Mining Corp. Chief Executive Officer Gary Goldberg said he will be meeting with Barrick Gold Corp.'s Mark Bristow later Tuesday in New York to talk through their differences. However, he said in a Bloomberg TV interview that he won't be discussing Barric...Read More
South Africa's AngloGold Ashanti (JSE:ANG) (ASX:AGG) (NYSE:AU) is selling its stake in Northern Colombia Holdings to Royal Road Minerals (TSX-V:RYR) as it looks to focus on its other local exploration projects, which have longer shelf life and the ability to deliver higher returns.The company said the sale includes mining concession agreements covering approximately 36,000 hectares and the rights...Read More
In the classic John Huston film "Treasure of the Sierra Madre," a group of gold prospectors strike it rich before squandering their good fortune in a tangle of greed, distrust, murder and paranoia.Something similar is happening to Barrick Gold Corp. and Newmont Mining Corp. in Nevada. Disagreements about how to manage and develop what's arguably the world's best-endowed area of gold deposits look...Read More
Target CEO Brian Cornell cited impressive holiday sales Target Corporation (NYSE:TGT) is higher in early trading, after the company reported an impressive fourth-quarter earnings report and raised its full-year outlook. In the earnings release, CEO Brian Cornell noted the company's traffic and comparable sales grew at the fastest rate in over a decade. In response, TGT is up 3.7% at $75,35, at las...Read More
The outperforming shares have added 51% year-to-dateAurora Cannabis Inc (NYSE:ACB) is up 3.9% to trade at $7.50, after Cowen initiated coverage on the Canadian cannabis listing with an "outperform" rating and tapped it as its top pick in the weed sector. Analyst Vivien Azer thinks Aurora is well positioned to take advantage of Canada's adult-use marijuana market, and increase market share and pro...Read More