By: Dave KranzlerThe price of gold soared over $13 Monday as flight-to-safety money flowed into the precious metals sector while the stock market went into a downward spiral. I see Monday's market action as a preview of what's in store going forward as price discovery once again engulfs the stock market and causes the most extreme stock bubble in U.S. history to deflate.Despite the fact that it...Read More
By: Ira EpsteinGold's move yesterday really kicked it up into a new trend? Gold's strange chart:Read More
Chair Powell claims that subdued inflation is caused by transitory factors. Does the recent data confirms his views? And just how transitory is the new tariff rate on $200bn Chinese imports? Will we see a creep higher in inflation about to lift the gold prices?CPI Edges UpAt the post-FOMC press conference in May, Jerome Powell said that some transitory factors could be responsible for muted inflat...Read More
The index has done this just a dozen times since 2010China on Monday retaliated against increased U.S. tariffs, sending the major stock market indexes to their worst session in months. In fact, the S&P 500 Index (SPX) dropped more than 2% for the first time since early January. The last time the SPX fell more than 2% for the first time in at least three months was Oct. 10, at the start of the four...Read More
Stocks are broadly higher today The Dow Jones Industrial Average (DJI) is trying to claw back from one of the biggest pullbacks of the year in yesterday's trading, which was due to trade war fears. All three major indexes are trading sharply higher today, and attention is still on President Donald Trump's Twitter account, after he wrote that it would be "game over" with China if the Fed cut intere...Read More
The options market is pricing in a bigger-than-usual post-earnings move for CSCOCisco Systems, Inc. (NASDAQ:CSCO) earnings are due after the market closes tomorrow, May 15. The Dow stock's been relatively quiet on the charts in recent weeks, per its 60-day historical volatility of 16.3%, which ranks in the 11th annual percentile. However, the options market is anticipating a big move for Thursday'...Read More
In a recent edition of Credit Bubble Bulletin, Doug Noland, the long-time critic of contemporary monetary policy, writes about the odd times in which we live from a financial perspective. “Such a precarious time in history,” he laments. “So much crazy talk has drowned out the reasonable. Deficits don’t matter, so why not a trillion or two for infrastructure? Our...Read More
Early Lyft stock bargain-hunters were hit hard by the company's first earnings report"Each month, TD Ameritrade Holding Corp. (NASDAQ: AMTD) reveals which stocks were among the most bought and sold by their clients via the Investor Movement Index, which tracks investor behavior by measuring holding and trading data from a sample of clients... Unsurprisingly, retail investors flocked to some of the...Read More
IMMR is set for its worst week since AugustTech stock Immersion Corporation (NASDAQ:IMMR) was up more than 10% in early trading, after the company settledinfringement litigation with Samsung. The firm also said it inked a deal with Sony to license its advanced haptic patents to be used in VR and gaming controllers. However, despite also raising its full-year revenue guidance and beating analysts'...Read More
The tractor maker will report earnings ahead of Friday's openJ.P. Morgan Securities downgraded Deere & Company (NYSE:DE) stock to "underweight" from "neutral," and slashed its price target to $132 from $154. The brokerage firm cited "rapidly deteriorating fundamentals" in U.S. agriculture, due to "tariffs and excess global supply," declining Chinese demand for soybeans amid an African swine fever...Read More
Wehad warned you about the miners’ bluff and we hope that you heeded it. Gold isstill testing the neck level of the head-and-shoulders pattern, but silver isalready back at its 2019 lows, while miners broke decisively below them. It mayseem that the miners have declined enough and that a rebound is imminent fromthese levels. Should you hold your breath? Are we on a doorstep of a tradablerebo...Read More
Both APHA and CRON are heavily shortedTwo weed stocks are making outsized moves higher this morning. First, Aphria Inc (NYSE:APHA) stock is up 1.5% to trade at $6.87, after the company announced its president, Jakob Ripshtein, was resigning. Aphria stock gapped lower in mid-April following a subpar quarterly report. Since then, the shares have carved out a channel of lower lows to the tune of a...Read More
Ralph Lauren stock recently breached its 320-day trendlineShares of retail giant Ralph Lauren Corp (NYSE:RL) are down 5.1% at $112.20 in early trading, despite the company reporting impressive fiscal fourth-quarter earnings and international sales. The pullback is in part due to adecline in North American revenue, on top of general fears around the effects of the U.S.-China tariff battle -- thoug...Read More
Rising meat prices could benefit Tyson FoodsDespite new competition from Walmart (WMT) and Beyond Meat (BYND), the shares of Tyson Foods, Inc. (NYSE:TSN) have still had a huge year, up 49% in 2019 to trade at $79.57. The outperformance has pushed the equity's 14-day Relative Strength Index (RSI) deep into overbought territory, last seen at 82. However, Credit Suisse weighed in on TSN stock this mo...Read More
U.S. import prices rose less than expected in April Futures on the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) are signaling a rebound this morning, after yesterday's intense, U.S.-China trade sell-off. The major stock market indexes suffered their worst session in months on Monday, after China retaliated with increased tariffs on $60 billion worth of U.S...Read More
German steelmaker ThyssenKrupp expects the global steel market environment to remain challenging in 2019, amid "continuing global overcapacities, ongoing risks from trade uncertainties, [and] sharply rising iron ore prices," the company said on May 14.Fastmarkets' 62% Fe iron ore index averaged $82.41 per tonne cfr Qingdao over the first quarter of 2019, compared with $74.39 per tonne cfr in the f...Read More
By: Michael J. Kosares, USA GoldThe Exter Inverted Pyramid of Global LiquidityCredit risk, liquidity and goldIn a recent edition of Credit Bubble Bulletin, Doug Noland, the long-time critic of contemporary monetary policy, writes about the odd times in which we live from a financial perspective. "Such a precarious time in history," he laments. "So much crazy talk has drowned out the reasona...Read More
By: Keith Weiner, Monetary MetalsWe have deviated, these past several weeks, from matters monetary. We have written a lot about a nonmonetary driver of higher prices mandatory useless ingredients. The government forces businesses to put ingredients into their products that consumers don't know about, and don't want. These useless ingredients, such as ADA-compliant bathrooms and supply chain trac...Read More
Before we get to looking at those three charts, let's talk about the trade war. On Friday the Trump administration made good on its threat to raise tariffs on as much as $200 billion worth of Chinese imports to 25 percent from the previous 10 percent. The president also said that a decision could be made soon on whether to impose the same 25 percent rate on an additional $325 billion of Chinese...Read More
Was it President Trump's intention all along that trade talks with China fail? That's the contention of 'Farmer,' a long-time subscriber who lives in Nairobi. He posted earlier today as follows in the Coffee House, a chat room that runs alongside the Rick's Picks Trading Room:"Just for perspective, the average dollar volume of imports being bought from Russia is only $18 billion during the pas...Read More