By: Captain Ewave GOLD: Short Term Update: Gold reached a low of 1305.30 this past week, but by the end of week we had moved higher to close in the 1324.80 area. We also had a key weekly reversal higher which is bullish and suggests higher prices are coming in the short term! We updated our count this week to a more bullish count that is suggesting that all of wave ?iii? of !iii! ended at...Read More
By: Jordan Roy-Byrne CMT, MFTARoughly one year ago and prior to that we observed that the gold stocks could be following the recovery template from what we deemed a "mega bear market."We define that as a bear market that is over two and a half years in time and over 80% in price. It cuts both ways.The gold stocks from 2011 to January 2016 had declined more than 80% and for more than four years....Read More
So much for the wall of worry! Bulls have improbably shrugged off steep downturns in the housing and auto sectors, rising interest rates, a costly tariff war with China, the pernicious rise of socialism on Capitol Hill, the economic implosion of China and Germany, a strong dollar that has sapped the earning of U.S. multinationals; and, most recently, evidence that retail sales nosedived during t...Read More
China has been increasing gold reserves as a buffer to blackmail by USA and its allies on the global trade war front. Yesterday someone posted on Twitter that bank of England does not reveal the audit of gold reserves. There is no accountability of the Australian gold reserves held with the bank of England. My view is that Bank of England or the Federal Reserve will not give back the reserves...Read More
Brazilian miner Vale has pre-emptively evacuated about 200 people living close to another of its iron ore tailings dams after reviewing an independent report, the company said on Sunday February 17.The people were taken from Nova Lima, close to the Mar Azul mine in the south-eastern state of Minas Gerais. Level 2 of the country's emergency action plan for tailings dams was triggered by Vale a...Read More
Roughly one year ago and prior to that we observed that the gold stocks could be following the recovery template from what we deemed a “mega bear market.”We define that as a bear market that is over two and a half years in time and over 80% in price. It cuts both ways. The gold stocks from 2011 to January 2016 had declined more than 80% and for more than four years. It was a textbook m...Read More
SCCO is heading toward its fourth straight winThe shares of Southern Copper Corp (NYSE:SCCO) are in focus today, after Citi threw down a big double-upgrade to "buy" from "sell," while upping its price target on the copper name to $41 from $33. The analyst in coverage called Southern Copper its "top pick" in the mining sector, and was overall bullish on copper in general. What's more, Goldman Sac...Read More
UNIT options volume reached a new annual high earlierUniti Group Inc (NASDAQ:UNIT) is the worst stock on the Nasdaq this afternoon, as analysts slam the real estate investment trust (REIT) after a court ruling. Specifically, UNIT stock is down 40.4% at $11.90 -- and earlier touched a new record low of $10.71 -- following what the firm said is an "unfavorable court ruling" against Windstream (WIN...Read More
Short interest has more than doubled on WTW stock over the past two reporting periodsStocks are mostly climbing higher today, as the Nasdaq looks to lock up its seventh straight win. Among individual names making notable moves are metal components maker NCI Building Systems Inc (NYSE:NCS), toy name Mattel, Inc. (NASDAQ:MAT), and dieting expert Weight Watchers International, Inc. (NASDAQ:WTW), all...Read More
The analyst thinks the utility stock could doublePG&E Corporation (NYSE:PCG) is among the best stocks on the Big Board today, thanks to some upbeat analyst attention. Specifically, Citigroup upgraded PCG to "buy" from "neutral," and tripled its price target to $33 -- more than double the equity's close on Friday. The analyst believes there's an "increasing likelihood of legislative action" in Cali...Read More
Sixteen states sue Trump over border wall emergency. Is it good or bad for the yellow metal? Trump’s National Emergency and GoldOn Friday, President Trump declared a national emergency to obtain funds for building a wall along the U.S.-Mexico border, which was his key promise during a campaign. According to the President’s proclamation :the current situation at the southern border pres...Read More
* FTSE 100 down 0.6 pct * FTSE 250 down 0.3 pct * HSBC drags on main index as earnings disappoint * Baker Greggs jumps to life high * Plus500 falls for 7th straight day * Indivior slips on U.S. Supreme Court ruling (Adds news items, updates to closing prices)By Shashwat Awasthi and Muvija MFeb 19 (Reuters) - Britain's main index fell on Tuesday,weighed down by disappointing results from blue-chip...Read More
The car rental concern also named a new CFO todayCar stock Avis Budget Group Inc. (NASDAQ:CAR) is up nearly 2% at $29.21 in afternoon trading, moving higher after the company named John F. North III its new chief financial officer, effective March 18. Avis also unveiled itsBusiness Intelligence (BI) portal, an online resource for corporate travel managers, ahead of earnings after the close tomorr...Read More
The way I see it, silver has basically twomajor categories of use. The first and most important use is as a monetaryasset. It is only when used as a monetary asset that it could realize its true(or fair) value.Currently, it is probably as far away (nottime wise though) from being used as a monetary asset, as it has ever been. Itis for this reason that silver is so under valued and such a must-buy....Read More
The Dow is lower despite Walmart's big post-earnings surgeThe Dow Jones Industrial Average (DJI) is taking a breather today, last seen marginally lower as U.S.-China trade talks enter a second week ahead of the looming March 1 tariff deadline. Fresh off its eighth straight weekly win, the blue-chip index is shrugging off a strong day from Walmart (WMT) and its latest blowout earnings report. The...Read More
NTES options volume is ramping up as Amazon rumors swirlThe shares of NetEase Inc (NASDAQ:NTES) are popping today after business magazine Caijing reported that Amazon's (AMZN) China unit expressed interest in the Chinese tech giant's e-commerce company, Kaola. The NetEase offshoot sells imported apparel and household goods and has been listed as a leader of online shopping in China. Separately,...Read More
Chinese exporters were seen raising vanadium offer prices amid stronger sentiment following the market's return from the Chinese New Year holidays, sources told Fastmarkets.Chinese vanadium export offers tick up European ferro-vanadium market flat on inactivity European vanadium pentoxide (V2O5) prices firm following stronger Chinese sentiment US ferro-vanadium prices widen amid activity incr...Read More
Wide contangoes on the London Metal Exchange were supporting global aluminium premiums on Tuesday February 19, with premiums in Europe, the United States and Japan all rising. Contango on LME offsets slow demand for duty-unpaid metal in Europe.Market participants in Asia expect higher premiums on wide spreads.US Midwest premium increases week-on-week in liquid market.Brazil aluminium premiums mixe...Read More
A summary of base metals premiums from across the globe for the week to Tuesday February 19.Please click...Read More
COT SPECIAL PUBLICATION SCHEDULE Reminder -- Due to the U.S. Government Shutdown (February 1 Announcement) The last COT report was published on December 21, 2018. Reports going forward from that date will be published in chronological order beginning with the report previously scheduled for release on Friday, December 28, 2018 (based on data from Monday, December 24, 2018). The CFTC publ...Read More