The next financial bubble burst could be so massive, it even takes out gold. One economist is making a very bold prediction.This man says that the colossal financial bubble that exists in today's economy is stretching closer and closer to its breaking point.And when it does pop -- soon, very soon -- it's not only going to take out the entire stock market... it'll absolutely crush other assets too....Read More
ROKU options are attractively priced at the moment, tooRoku Inc (NASDAQ:ROKU) stock is down 6.2% to trade at $59.81 today, after Citigroup downgraded the streaming name to "sell" from "neutral" on competition concerns. The stock is fresh off its second weekly loss of 2019, and has now racked up four downgrades in the past month. Despite the recent struggles, ROKU call options have been flying off...Read More
BA was downgraded after slashing 737 productionThe Dow Jones Industrial Average (DJI) has continued its journey south this afternoon, down over 120 points, pushed lower by a steep decline from Boeing (BA). In addition, traders are digesting a drop in February factory orders, and are exercising caution ahead of the start of earnings season, with big banksWells Fargo (WFC) and JPMorgan Chase (JPM)...Read More
Money manager Adrian Day looks at recent results from several royalty companies in his portfolio, as well as recent developments in the ongoing Goldcorp saga, and provides updates on a couple of favorite exploration companies.Goldcorp Inc. (G:TSX; GG:NYSE, US$11.52) looks set to be acquired by Newmont, but not without continuing controversy, particularly over chairman Ian Telfer's egregious "retir...Read More
The gold miners’ stocksare still marching, grinding higher on balance in a solid upleg. While interest in this sector has faded sincelate February, it is nicely set up for a strong rally. After consolidating high and establishing asturdy base, the gold miners are likely to soon report greatly-improvedfirst-quarter results. Couple that with golditself powering higher, and th...Read More
The stock has added more than 50% since its late-December lowShares of Micron Technology, Inc. (NASDAQ:MU) are moving lower, last seen down 0.8% at $42.98, after Cowen and Company downgraded the stock to "market perform" from "outperform," and trimmed its price target to $45 from $46. Cowen said it expects Micron's profitability to decline in 2020, and predicted margin pressure for the rest of 2...Read More
SNAP has nearly tripled since its late-December bottomShares of Snap Inc (NYSE:SNAP) are up 4.4% to trade at $12.36 this morning, after RBC upgraded the Snapchat parent to "outperform" from "sector perform," while boosting its price target to $17 from $10. The analyst in coverage praised the company's product differentiation and consistency on iOS app rankings. The lofty price target -- territo...Read More
Mayday, mayday,we are sinking! The global economy is slowing down. How serious is the currentslump? We invite you to read our today’s article about the true condition ofthe world’s economy and find out what are its likely implications for theprecious metals market. Economists andmarket analysts often make volte-face. We remember that in 2018 the punditswere heralding the synchronized g...Read More
The company announced preliminary sales of its biosimilarThe drug maker Coherus BioSciences Inc (NASDAQ:CHRS) is near the top of the Nasdaq today, after the company announced late Friday that preliminary sales of its biosimilar UDENYCA -- used in patients receiving myelosuppressive chemotherapy -- are expected to be between $36 million and $38 million. In response, CHRS stock is up 13.5% at $16.61...Read More
An analyst at J.P. Morgan Securities set a $5 price target on GEThe shares of General Electric Company (NYSE:GE) had been hovering just above the $10 mark for almost a month, hinting at a potential layer of round-number support. However, a bearish brokerage note came out this morning and now has GE stock down 5.3% at $9.48, which would have it closing below the 50-day moving average for the first...Read More
In March, the World Gold Council released the newest edition of its Investment Update. What can we learn from the publication? Let’s examine the most recent history of Fed tightening and loosening with respect to its effect on gold prices.Is Fed’s Dovish Turn Positive for Gold?The WGC has recently published the new Investment Update about the effects of monetary policy on gold. The mai...Read More
A summary of Vedanta's production results for the fiscal year ended on March 31, 2019.In brief Vedanta's Indian copper output decreased sharply by 78% due to the Tuticorin smelter's shutdown after protests against its plans to double capacity reached fever pitch toward the end of March.Custom copper volumes at the company's Zambian projects decreased by 22% to 87,000 tonnes over the 2019 financial...Read More
BofA-Merrill Lynch cut its rating on BA stockBoeing Co (NYSE:BA) stock is down 4.4% at $379.26, after the aerospace giant slashed production of its 737 MAX 8 aircraft following a global grounding in reaction to a pair of deadly crashes. Specifically, BA said it will reduce output by almost 20% to 42 units per month from 52 units per month beginning in mid-April.A round of negative analyst notes is...Read More
First-quarter earnings season kicks off this weekDow Jones Industrial Average (DJI) futures are trading below fair value, as caution sets in ahead of first-quarter earnings season. Boeing (BA) could also be a big drag on the blue-chip index today, with the newly downgraded Dow stock off 4.1% in electronic trading on news the company has slashed production of its grounded 737 MAX 8 aircraft. Agains...Read More
Equity price action suggests economic slowdown concerns could be overblownApril got off to decent start for stock bulls, with the S&P 500 Index (SPX - 2,892.74) tallying its second consecutive week of gains and its 12th weekly gain in the last 15 weeks. A positive April would make it four consecutive months of gains, which hasn't occurred since July 2018. Despite the SPX displaying a 15.4% year-to...Read More
While so many were getting so bullish of the metals market over the last few months, my work was telling me that we were not likely going to be seeing a major break out just yet. So, I have been waiting patiently for a good set up for another long trade.But, during my wait, I have seen extremes in sentiment again. At the highs, the extremes were quite bullish. And, now, the fear is starting to cre...Read More
Gerald Reichmann has been appointed the new chief executive officer of British Steel, the UK long steel producer said on Friday April 5.Reichmann joined British Steel in November 2017 as chief financial officer. He was previously the managing director at Austrian steelmaker Voestalpine's wire technology division.Reichmann also briefly served in the role of British Steel's deputy CEO from January 2...Read More
The Norwegian government has granted a mining concession for the Sydvaranger Iron Ore Project, paving the way for concentrates shipments to recommence in 2020.Owned by the Tschudi Group - a Norwegian shipping and logistics company - the Sydvaranger project consists of several high-grade magnetite iron deposits with indicated resources of 475 million tonnes and inferred resources of 43 mi...Read More
Sector expert Michael Ballanger discusses the pitfalls of market reversals and forecasting. As I reach end-of-week, end-of-month book-squaring, where all of my urgent e-mails and all of my myopic missives and all of my topical tweets are summarized in once terse and quite concise "Monthly P&L," I am astounded at the most recent example of how masterfully the Gold Cartel works in suckering inve...Read More
Pure Gold Mining is down over 35% from last year's highs.The company released a Feasibility Study in Q4, but this was met by selling pressure from the market.The stock will need to put in a weekly close above $0.64 CAD to start a new uptrend.In Q4 2018, while many mining stocks were beginning to try and form bottoming patterns, Pure Gold Mining (OTCPK:LRTNF) was one of the first names to turn...Read More