The retail ETF is headed toward its third straight weekly lossIt's been a rough month for retail stocks, with dismal earnings reports from several high-profile names, including Lowe's (LOW) and Foot Locker (FL), driving the SPDR S&P Retail ETF (XRT) toward its third straight weekly close, down 2.3% since last Friday. One options trader today is positioning for more downside in the sector, and like...Read More
Chilly U.S.-China trade relations have weighed on the indexWhile the major stock market indexes are higher today, they're still on pace for another week in the red. In fact, amid escalating concerns about U.S.-China trade, the Dow Jones Industrial Average (DJI) is pacing for a fifth straight Friday-to-Friday loss -- something we haven't seen since 2011. What's more, if history is any indicator, th...Read More
Another post-holiday slump could rattle some near-term options tradersDuring the current bull market,the shortened Memorial Day week has been a rough one for stocks. What's more, some equities tend to fare worse than others during that four-session stretch, including financial stocks SunTrust Banks, Inc. (NYSE:STI) and Fifth Third Bancorp (NASDAQ:FITB). Below, we take a look at the 25 worst stocks...Read More
NTAP shed 8% yesterday after subpar earningsWe recently profiled the 25 best stocks to own during Memorial Day Week. Of the many tech stocks that appear on the list, NetApp Inc. (NASDAQ:NTAP) looks to be the most overdue for a rebound, the security just yesterday shedding 8% on the back of a weak quarterly report. Specifically, looking at S&P 500 Index stocks over the past 10 years, NTAP has turn...Read More
Investors are also considering Trump's China commentsThe Dow Jones Industrial Average (DJI) is off its early highs, sporting a modest lead at midday. Traders are staying focused on President Donald Trump's China comments from yesterday, brushing off a disappointing durable goods update for April. Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are trading above breakeven as they bar...Read More
A historically bullish signal just flashed on the charts for Okta ahead of earningsCloud-based software concern Okta Inc (NASDAQ:OKTA) has been on virtually nonstop since its late-November lows. The stock has jumped more than 69% on the year, and just hit an all-time high of $111.94 this past Wednesday, May 22. While the tech stock has pulled back ahead of the firm's first-quarter earnings report...Read More
BIIB shares tend to outperform right after Memorial DayBiogen Inc (NASDAQ:BIIB) stock suffered its worst day in 14 years on March 21, when it gapped 29.2% lower on a pair of halted Alzheimer's disease drug trials. The shares have since struggled to surpass these bear gap levels below $235 -- last seen up 0.4% at $230.13 -- but some short-term upside could be in the cards, if history is any guide....Read More
Piper Jaffray expects the shares to surge to $3,000Online powerhouse Amazon.com, Inc. (NASDAQ:AMZN) is up 1.3% at $1,838.01, after Piper Jaffray said it expects the stock to reach $3,000 between mid-2021 and mid-2022. The target -- based on "conservative growth and valuation assumptions" -- implies 65% upside from the FAANG stock's closing price of $1,815.48 on Thursday. The brokerage firm has a...Read More
Morgan Stanley just doesn't see much upside in STZ going forwardConstellation Brands, Inc. (NYSE:STZ) was hit with a downgrade this morning at Morgan Stanley, who admitted it's liked the stock for a while, but doesn't see the upside in the near term to warrant its "overweight" rating. Instead, it lowered its STZ opinion to "equal-weight" and cut its price target to $220 from $230. The covering ana...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 203,628114,82383,533167,827275,765454,988474,121 Change from Prior Reporting Period -22,73312,9984,7748,383-20,862-9,576-3,090 Traders 17781835058261193 Small Speculators LongShortOpen Interest 53,65534,522508,643 224-6,262-9,352 non reportable positionsC...Read More
By Robert LambourneThe statements of account for March and April 2019 recently published by the Bank for International Settlements indicate that the bank is still actively trading gold swaps, which the bank uses to gain access to gold held by commercial banks. The statements also show that there has been a large decline in gold swaps entered by the BIS in the two months, about 215 tonnes.This is...Read More
The mid-tier gold miners' stocks in the sweet spot for price-appreciation potential have been struggling in recent months, grinding lower with gold. Their strong early-year momentum has been sapped by recent stock-market euphoria. But gold-mining stocks are more important than ever for prudently diversifying portfolios. The mid-tiers' recently-reported Q1'19 results reveal their fundamen...Read More
Celente: An Oil Shock Could Be the Black Swan That Finally Drives Gold Higher DOWNLOAD MPDon't want to listen? Read the podcast below!Welcome to this week's Market Wrap Podcast, I'm Mike Gleason.Coming up the top trends forecaster Gerald Celente of the Trends Journal joins me to discuss a myriad of topics. Gerald gives us more insight on why the precious metals are struggling, why he recently...Read More
By: Dave KranzlerElon Musk sent out an internal email to employees on Thursday in which he makes the highly dubious claims that the Company has 50,000 new orders for the Model 3, the Company has a "good chance" of exceeding Q4's record deliveries and the production of the Model 3 is close to 1,000 per week.Regardless of the veracity of the production numbers, the new orders and Q2 deliveries...Read More
By: Marin KatusaGold prices have dipped below $1275.Even the gold bugs are getting rattled.On the other hand, profit bugs are on the constant lookout for opportunity in echo markets. This is the time when the market is rewarding strong hands and shaking out weak ones.So if you're coming from a position of strength (loaded with cash, paying close attention) then your time to strike and cash...Read More
Professor Laurence Kotlikoff & Chris Waltzek Ph.D. - May 21st, 2019. DOWNLOAD - MP3 formatHighlightsProfessor Laurence Kotlikoff, from Kotlikoff.net and author of the FREE book: You're Hired!Our guest created a new program to assist investors with retirement via a scientific method, MAXIFI.Maxifi is top rated and efficient personal-financial planning software that identifies the optim...Read More
Dear Friend of GATA and Gold:Fighting gold price suppression by central banks and their market rigging generally would be a lot easier with the help of some of those people who have great resources and purport to be gold advocates themselves but who knowingly or unknowingly assist the other side.?>>?One of those people is billionaire Ray Dalio, founder of investment fund Bridgewater Associates i...Read More
By: Ira EpsteinInvestors realizing there is a real trade war going on..Read More
The FAANGs and a few other 'lunatic' stocks favored by institutional buyers have deservedly been getting thrashed, but it looks like the pain is unlikely to abate any time soon. My downside targets in two key stocks, GOOG and AMZN, are well below current levels, implying they will remain a drag on the market. One stock that has been bucking the tide is Microsoft, which is within a three-day rall...Read More
FL's profit, revenue, and same-store sales all fell shortFoot Locker, Inc. (NYSE:FL) stock is trading down 13.2% ahead of the bell, set to open below its late-November lows. Earlier this morning, the athletic apparel retailer reported first-quarter adjusted earnings of $1.53 per share on $2.08 billion in revenue -- missing analysts' estimates. The company also said same-store sales rose a less-tha...Read More