As we know, Gold and the US Dollar have an inverse relationship. Gold is priced in US Dollars and the drivers of each are similar (from an inverse point of view). Over long-term periods both trend in the same direction but the magnitude of the moves can vary and be quite different. The standard inverse relationship has not been a perfect one in recent months or years. In the chart below we plot Go...Read More
The FDA declined to approve the drugmaker's new antibiotic The shares of Nabriva Therapeutics(NASDAQ:NBRV) are spiraling today, after the biopharmaceutical company's urinary tract infection (UTI) antibiotic drug, Contepo, was denied approval by the Food and Drug Administration (FDA). The FDA cited facility and manufacturing concerns for its decision. NRBV is down 16.6% at $2.49 today, set for its...Read More
The silver market appears to be setting up for a big move. After spending this spring stair-stepping lower in a narrowingrange, silver prices have formed a falling wedge pattern. That pattern usuallyresolves in a powerful directional breakout. The good news for bulls is thatfalling wedges usually break out to the upside. Commercial hedgers and bullion banks (i.e., “smart money&rdqu...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 1. Please click...Read More
Most analysts remain bullish on the drug stock, thoughNear the bottom of the Nasdaq morning sits Heron Therapeutics Inc (NASDAQ:HRTX), down 21% to trade at $17.44 this morning, and earlier fell to a new annual low of $16.20. The Food and Drug Administration (FDA) rejected the company's application for HTX-011, its postoperative non-opioid painkiller, requesting additional information from the com...Read More
EXAS shares are lower today, howeverMolecular diagnostics specialist EXACT Sciences Corporation (NASDAQ:EXAS) has received a number of bullish analyst notes this morning after the company's earnings release last night. Canaccord Genuity, SVB Leerink, Jefferies, and Craig-Hallum all lifted their price targets on the stock, with the latter two setting the highest marks at $115, deep into all-time-hi...Read More
Major indexes could hit fresh record highsDow Jones Industrial Average (DJI) futures are moving higher this morning, as investors applaud quarterly results from tech giant Apple (AAPL). The FAANG stock is pointed 5% higher in pre-market trading. In addition, Wall Street is cheering a bigger-than-expected increase in private payrolls, per the latest ADP data. With the S&P 500 Index (SPX) and Nasdaq...Read More
Australian lithium spodumene concentrate producer Mineral Resources has announced lower first-quarter spodumene production at its Mount Marion mine in Western Australia. It produced 106,683 tonnes of lithium spodumene concentrate, at the Mount Marion operation in the south-central region of the state, in the January-March quarter, down by 7.23% from the 115,000 tonnes produced in the previous quar...Read More
Historical data says the adage will be way off in 2019For those familiar with stock seasonality trends, "sell in May and go away" is a popular saying. The tables below explain where the saying comes from. Stock performance for the six-month period from May through October has been underwhelming compared to the other six months (November through April). Over the past 50 years the S&P 500 Index (SPX...Read More
Lead's three-month price on the London Metal Exchange fell to its lowest level since 2016 at the close of trading on Wednesday May 5, with its price action largely subdued amid commodity trading advisor (CTA) selling and low liquidity conditions, while investors hold out for the US Federal Reserve's rate decision due later. Reaching an intra-day low of $1,846.50 per tonne, three-month lead futures...Read More
By: Keith Weiner The bid-ask spread of both (spot) gold and silver has blown out. Both, on March 1.In gold, the spread had been humming along around 13 cents gold is the most marketable commodity, and this is the proof, a bid-ask spread around 1bps until... *BAM!* It explodes to around 35 cents, or two and half times as wide. On the same day, silver went from half a cent to 1.5 cents, or about...Read More
Bob Hoye & Chris Waltzek Ph.D. - April 30th, 2019. * .Mp3HighlightsBob Hoye, Editor & Chief Investment Strategist of Charts and Markets.com rejoins the show with must-hear commentary. FOMC policymakers set the overnight lending rate this week. The current FFF at the CME which indicates the Fed could begin a new round of QE within a year. There are strong probabilities of a rate cut by Dec. / J...Read More
By: Dave KranzlerThe semiconductor stocks continued melting up last week until Intel threw some cold water on the Dutch tulip bulb price-chasing party. TXN reported Tuesday after the close. Revenues declined 5% from the year-earlier quarter. The management stated that "demand continued to slow across most markets. TXN then said Q2 revenues would drop 10% from Q2 2018. It said earnings would be d...Read More
By: Richard (Rick) Mills, Ahead of the herd "Whoever has an army has power." - Mao Zedong In March Italy broke ranks with its EU partners in joining China's Belt and Road Initiative, known also as One Belt, One Road or the New Silk Road. Students of history know the original "Silk Road" refers to the ancient network of trading routes between China and Europe, which served as both a conduit fo...Read More
By: Gary ChristensonI'll show you real money. It looks like this: Those circulating dollar bills, euros, pounds, and yen are DEBTS (notes) issued by central banks to extract wealth from citizens and the economy, dilute the purchasing power of the currency, and nourish the banking cartel.From Graham Summers:"The problem of course is once it has done this [created the 'everything bubble'], the F...Read More
By: IRA EPSTEINGold at an important point, $1,300 resistance - gold at an important juncture:Read More
Google was down a hellacious 112 points, or 9%, at Tuesday's low, but the plunge did little damage to the bullish look of the weekly chart:The fact that this occurred after the stock had pushed above last July's record high makes the selloff merely corrective rather than impulsive. It was attributable to a dour earnings report which suggested Google is losing ground in advertising to Amazon and...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday May 1 that are worth another look.Vanadium producer Bushveld Minerals has agreed to buy multiple South African production assets for $68 million, it said on Wednesday May 1. The South Africa-based miner will acquire Duferco Vanadium Investment Holding's Vanchem plant, the ferro-vanadium business of its subsidiary South African...Read More
Source: Michael J. Ballanger for Streetwise Reports 04/29/2019Sector expert Michael Ballanger reviews recent movements in precious metals and discusses how he is playing the market.Last week I sent out my uber-bullish call on the metals and miners at the conclusion of a period fraught with doom and despair for all things gold and silver. The criminality of the interventionists was in full bloo...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 1. Please click...Read More