A summary of base metals premiums from across the globe for the week to Tuesday May 7.Please click...Read More
TRUE hasn't closed a day lower in nearly two weeksAuto pricing concern TrueCar Inc (NASDAQ:TRUE) will report first-quarter earnings after the close on Thursday, May 9. Ahead of the event, the shares of TRUE have been in rebound mode, and haven't ended a session lower since April 24 -- nearly two weeks ago. However, the equity is now facing off with a familiar trendline, run-ups to which have acted...Read More
Precious Metals traders have been hanging on every turn in the markets over the past 2+ years. The upside price move in early 2016 setup a very strong expectation that further upside price moves were about to result in an upside price explosion in metals. Remember, 2016 was a very big US Presidential election year. 2020, being the next big US Presidential election year, is only a...Read More
The retail stock has a history of big post-earnings upside movesEtsy Inc (NASDAQ:ETSY) has been quiet on the charts in recent weeks, per the stock's 30-day historical volatility of 31.2%, which registers in the low 11th annual percentile. However, ETSY shares tend to make big moves after the online retailer reports earnings, and with the Amazon rival's results due after the close this Wednesday, M...Read More
The VIX is approaching the 20 mark for the first time since JanuaryThe U.S. stock market is getting destroyed as investors worry about a growing trade war with China. These fears sent the Dow Jones Industrial Average (DJI) down more than 425 points at its session low, with all 30 Dow components trading in negative territory at last check. It's a similar setup for the S&P 500 Index (SPX) and Nasdaq...Read More
Weakening prices in the flat steel markets of Turkey and Europe, particularly for hot-rolled coil (HRC), meant that there were reduced bids for CIS export slab, Fastmarkets heard on Tuesday May 7.Slow trading both domestically and in the export outlets was the major reason for the drop in finished flat steel prices.Given these conditions, bids for CIS-origin slab dropped significantly, dragging th...Read More
eBay outpaced the broader S&P 500 Index in recent monthsOnline retailer eBay Inc (NASDAQ:EBAY) saw its stock bounce from the put-heavy $36 level recently thanks to strong earnings, sending the shares gapping back above the 40-day moving average, a trendline that previously acted as resistance in 2018. Despite a strong run higher in recent months, with EBAY roughly doubling the performance of the b...Read More
The stock is down more than 35% in early tradingCatalyst Pharmaceuticals Inc (NASDAQ:CPRX) stock is suffering steep losses this morning, down 38.8% at $3.74, after rival Jacobus Pharmaceuticalreceived approval from the Food & Drug Administration (FDA) for its Ruzurgi drug to treat children with rare auto-immune disorder Lambert-Eaton Myasthenic Syndrome (LEMS). What's more, CPRX put volume is pac...Read More
The temporary truce on tariffs between China and the United States could be over, injecting a new round of uncertainty into the global financial markets and suspending hopes that a resolution to the countries' trade impasse was likely.US President Donald Trump has threatened to raise the tariff on $200 billion-worth of Chinese imports to 25% from 10% by Friday May 10. He also said that the US may...Read More
ROKU could be set for more volatility with earnings around the cornerTwo growth stocks receiving positive analyst attention on Wall Street this morning are streaming technology expert Roku Inc (NASDAQ:ROKU) and low-cost gym operator Planet Fitness Inc (NYSE:PLNT). A brief breakdown of the bull notes on the shares of ROKU and PLNT is below. ROKU was started with an "overweight" designation at Steph...Read More
GWPH short sellers could soon head for the exitsThe shares of GW Pharmaceuticals PLC (NASDAQ:GWPH) are in focus today, aftera double-dose of good news last night. First, the drugmaker's first-quarterlosswas slimmer than expected. But more importantly, its epilepsy drug Epidiolex met the main goals in a late-stage study, while first-quarter sales for the drug were higher than expected. In respon...Read More
The shoe company posted first-quarter earnings and revenue that beat expectationsThe shares of Crocs Inc (NASDAQ:CROX) are popping in early trading, after the firm posted first-quarter earnings of 33 cents per share on $295.9 million in revenue -- both topping analysts' estimates. CROX cited strong e-commerce and wholesale revenue, and said its same-store sales were up 8.7% for the first part of t...Read More
The biotech missed on both the top- and bottom-lineRegeneron Pharmaceuticals Inc (NASDAQ:REGN) stock is trading down 3.7% ahead of the bell, after the biotech reported slimmer-than-expected first-quarter adjusted earnings of $4.45 per share. Regeneron revenue of $1.71 billion also missed the mark. The shares have sold off sharply since their March 4 17-month high of $442. The stock's $330-$335 are...Read More
Robert Lighthizer said tariffs on $200B in Chinese goods will increaseFollowing confirmation by U.S. Trade Representative Robert Lighthizer that tariffs on $200 billion in Chinese goods will increase this Friday, May 10, if no deal is reached, Dow Jones Industrial Average (DJI) futures are once again in the red. Chinese Vice Premier Liu He is expected in the U.S. for trade talks later this week....Read More
Outokumpu expects higher quarter-on-quarter earnings in April-June 2019, with "no significant changes" anticipated in the stainless steel market's dynamics, it said on Tuesday May 7.The Finnish stainless steelmaker expects its stainless steel deliveries for the second quarter to remain at a similar level to the 621,000 tonnes delivered in the first quarter of 2019. This was down from 644,000 tonne...Read More
Traders seem to be "all-in" on a bearish price move for gold, despite Friday's strong finishGold futures took a big hit in the aftermath of last week's Federal Open Market Committee (FOMC) meeting -- which was punctuated by a press conference at which Chairman Jerome Powell disappointed anyone who may have been anticipating a hairpin shift from rate hikes to rate cuts on the part of the central ba...Read More
By: Gary ChristensonLance Roberts listed James Montier's 7-Immutable Laws of Investing. They are:Always insist on a margin of safety.This time is never different.Be patient and wait for the fat pitch.Be contrarian.Risk is the permanent loss of capital, never a number.Be leery of leverage.Never invest in something you don't understand.Those sensible rules apply to gold and silver.ALWAYS INSIST...Read More
Several weeks ago we wrote about the downside risk in the gold stocks.After the various gold stock indices formed distribution-type tops, the subsequent selling has been swift. Miners have plunged through moving averages and short-term breadth indicators quickly reached oversold extremes.While the gold stocks are oversold, it could be a little while before we can expect a sustained rebound.We p...Read More
Shades of Smoot-Hawley!? Stocks plummeted for the second time in less than 24 hours Monday when Trump signaled to China's trade negotiators that he means business. A long-delayed, $200 billion hike in tariffs will take effect on Friday because the Chinese reneged on commitments they'd already made. I don't say they allegedly reneged or that they reportedly reneged, since no one ever believed for...Read More
Trump and his twitter trumpet of reigniting trade war failed to life gold price yesterday. Short covering will be there if gold breaks and trades over $1290-$1292 zone. Silver needs to trade over $1500 to rise further. Copper and crude oil may have formed a short term bottom yesterday. "Akshay Tritiya" demand if it comes in below expectations in India can result in small correction in gold pri...Read More