The European central bank seems to have adopted a middle of the road strategy in light of Trump's tax uncertainty. Traders were looking for an aggressive stance by the ECB on monetary withdrawal but were disappointed. The Euro fell and the US dollar gained. Gold fell following the US dollar gains. If US nonfarm payrolls comes in over 200,000 then gold and silver can fall more. I do not expect an...Read More
Having clocked a weekly high/low of $1,340/$1,313, gold (XAU/USD) is set to end the week on a flat note at $1,322. So, the metal is creating a doji candle on the weekly chart, which indicates indecision in the marketplace. A bullish follow-through next week, i.e. weekly close above $1,340 would signal the pullback from the January high of $1,366 has ended at $1,303 (last week's low) and could...Read More
Source: Jack Chan for Streetwise Reports 03/06/2018Technical analyst Jack Chan charts recent movements in the gold and silver markets.Our proprietary cycle indicator is down.Gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term.Gold sector is on a short-term sell signal. Short-term signals can last fo...Read More
One of the more famous catchphrases from the 1960s sitcom 'Get Smart' was "Missed it by that much." Holding up a thumb and forefinger to demonstrate an extremely small space, Maxwell Smart (Agent 86) would use this phrase to describe his failure. Missed It by THAT MuchThat same catchphrase could be used for the estimates economists gave this week for the Labor Department's Jobs report. The median...Read More
Stocks skyrocketed today, powered by this morning's jobs report and a planned meeting between U.S. and North Korean leaders. The Dow finished over 400 points higher, while the S&P 500 secured a win of its own. It was the Nasdaq that stole the show, however, as the tech-richindex rode a strong day from FAANG stocks to a record high and a sixth straight daily win -- its longest winning streak since...Read More
Subscribers to Schaeffer's Weekly Options Countdown service recently scored a 200% profit with Michael Kors Holdings Ltd (NYSE:KORS) weekly 3/2 66-strike put. We're going to take a look back to see why we were initially bearish on KORS when we recommended the put, and how the options trade unfolded. We entered our bearish KORS position on Monday Feb. 26, meaning options traders tripled their mo...Read More
RIYADH (Reuters) - Britain and Saudi Arabia signed commercial deals worth more than $2 billion during Crown Prince Mohammed bin Salman's visit to London which ended on Friday, a joint statement said, without providing details.At the start of the trip, the countries set themselves a 65 billion pound ($90 billion) trade and investment target for the coming years, with London looking for new post-Bre...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump will not meet with North Korean leader Kim Jong-un unless he sees some “concrete” action by Pyongyang, the White House said on Friday.“The president will not have the meeting without seeing concrete steps and concrete actions take place by North Korea, so the president will actually be getting something,” White House spokes...Read More
BloombergSenator Rand Paul, a Republican from Kentucky and 2016 presidential candidate, is trying to get a floor vote on his signature 'Audit the Fed' legislation. Sen. Rand Paul, a Republican from Kentucky, has been unsuccessful in prior attempts to pass his so-called Audit the Fed legislation calling for a Government Accountability Office review of the Federal Reserve. It looked like Paul might...Read More
(Reuters) - U.S. energy companies this week cut oil rigs for the first time in seven weeks even as crude prices hovered near a three-year high, prompting more drillers to boost spending plans for 2018.Drillers cut four oil rigs in the week to March 9, bringing the total count down to 796, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.The U.S....Read More
It was a strong week for U.S. stocks, with the Nasdaq Composite (IXIC) rallying to record highs and set to extend its daily win streak to six. These gains weren't missed on the Dow Jones Industrial Average (DJIA) or S&P 500 Index (SPX), which are both ready to notch solid weekly wins, as well. It wasn't always smooth sailing for stocks, with trade war fears lingering throughout the week as Preside...Read More
(Reuters) - Lloyd Blankfein could step down as Goldman Sachs Group Inc (GS.N) chief executive as soon as the end of the year, the Wall Street Journal reported on Friday, swiveling the focus tofierce competition between the two contenders to replace him.Blankfein, 63, one of the longest-serving CEOs on Wall Street, has led what is viewed as the most powerful U.S. investment bank for nearly 12 years...Read More
Stitch Fix Inc (NASDAQ:SFIX) is expected to report fiscal second-quarter earnings after the market closes on Monday, March 12. This will be just the second time the retailer has reported earnings as a publicly traded company, and ahead of the event, the stock is down 2.7% to trade at $22.40. Nevertheless, SFIX options are pricing in an outsized move for Tuesday's trading. In terms of earnings re...Read More
The small contrarian gold-mining sector remains deeply out of favor, universally ignored. Thus the gold stocks are largely drifting listlessly, totally devoid of excitement. But that's the best time to buy low, when few others care. The gold stocks continue to form strong technical bases, paving the way for massive mean-reversion uplegs. And they remain exceedingly cheap relative to gold p...Read More
(Reuters) - The Federal Reserve may well raise U.S. interest rates four times this year given the boost from tax cuts and spending, and overseas strength that will further stimulate the U.S. economy, a top U.S. central banker said on Friday.Boston Fed President Eric Rosengren, a veteran policymaker who foreshadowed the shift last year to a more hawkish stance, urged “regular but gradual&rdqu...Read More
SEOUL/WASHINGTON (Reuters) - World leaders welcomed prospects for a possible thaw in the long standoff over North Korea’s nuclear weapons program on Friday after U.S. President Donald Trump said he was prepared to hold an unprecedented meeting with North Korean leader Kim Jong Un.Trump and Kim prompted jitters around the world last year as they exchanged bellicose insults over the North&rsqu...Read More
The U.S. stock market is in rally mode after this mornings jobs report, with the Nasdaq Composite (IXIC) barreling back into record-high territory. Among individual names making notable moves are FAANG stock Netflix, Inc. (NASDAQ:NFLX), big bank Goldman Sachs Group Inc (NYSE:GS), and Fisher-Price parent Mattel, Inc. (NASDAQ:MAT). Here's a quick look at how shares of NFLX, GS, and MAT are trading t...Read More
Editor's Note: Gold and silver have been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitc...Read More
NEW YORK (Reuters) - The bull market for stocks turned nine years old on Friday and, despite being long in the tooth, appears poised to set the record as the longest in history, buoyed by global economic growth and stronger company earnings.It is unlikely to be a smooth ride, however, as investors have already had to endure a 10-percent market correction sparked by inflation concerns and heightene...Read More
Last week we talked about how and when to exercise options, and to explore the category further, this week we are looking at the flip side of the coin -- options assignment. There are two sides to an options trade: the buyer and the seller. It's important to remember that only buyers can exercise an option. When an option is exercised by the buyer, the seller of that option is required to act -- o...Read More