Sector expert Michael Ballanger discusses the demotivating effects of current market trends. With great apology, I am late with this week's missive largely due to the arrival of boating season and the fierce need to secure a new vehicle, which should have taken (only) two days but didn't. Having arrived at the marina on Friday evening, I expected a rather smooth transition as it was the first ye...Read More
Bob Moriarty of 321 Gold discusses the project this small-cap miner has acquired out of Midway's bankruptcy. I first wrote about Viva Gold Corp. (VAU:TSX.V; VAUCF:OTCBB) exactly a year ago. The price of gold was about $1300 and the price of a share of Viva was about $0.32. Now gold is $1280 and Viva is still at $0.32. The company has an interesting story and while the price of the shares and gold...Read More
Domestic prices for hollow steel sections in Europe were unchanged this week as the market considered mill proposals to increase prices despite further falls in feedstock costs, sources told Fastmarkets on Wednesday May 22.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week at ?,?600-630 ($669-703) per tonn...Read More
Renewed trade fears had the Dow suffering, tooThe Dow took a hit today by big losses from Home Depot (HD) and Apple (AAPL). Renewed trade worries and a suffering retail sector sparked selling on the S&P, as well, while the tech-heavy Nasdaq was dragged lower by Apple supplier Qualcomm (QCOM). The release of the Federal Open Market Committee's (FOMC) May meeting minutes failed to ignite excitement...Read More
All three retailers are seeing analyst attention after earningsMarkets are moving lower this afternoon, with retail stocks at the forefront of headlines. Three big names in the sector to watch today are TJX Companies Inc (NYSE:TJX), Nordstrom, Inc. (NYSE:JWN), and J C Penney Company Inc (NYSE:JCP). Below, we will dive into what is moving the shares of TJX, JWN, and JCP.TJX Stock Sees Fresh Wave...Read More
CMG stock hit a three-year peak in Monday's tradingChipotle Mexican Grill, Inc. (NYSE:CMG) staged an impressive rally off its late-December lows near $383, rallying all the way up above $721 by April 9. CMG's short-lived pullback from here found support at its 50-day moving average, and a more recent bounce from the rising trendline sent the shares to a three-year peak of $727 on May 20. The burri...Read More
The bullish signal flashing for GLUU stock has never been wrongThe gaming concern Glu Mobile (NASDAQ:GLUU) has seen a dramatic climb this year, before plateauing right beneath itshigh of $11.75 on April 5. The stock managed a brief bounce off a familiar floor at the 40-day moving average, but wound up gapping beneath the trendline, following a first-quarter earnings flop. There might still be hope...Read More
The shares have muscled above their YTD breakeven markUnitedHealth Group Inc (NYSE:UNH) shares hit a year-to-date low near $208 on April 17, as concerns over potential policy changes sent the broader healthcare sector spiraling. The Dow stock has since recovered, last seen trading at $249.84 -- just a hair above its Dec. 31 close at $249.12.Another close above here would mark the equity's second s...Read More
Troubled UK long steel producer British Steel has been placed into compulsory liquidation following an order from the UK high court, the UK official receiver, part of the UK's Insolvency Service, said on Wednesday May 22."The company in liquidation is continuing to trade and supply its customers while I consider options for the business. Staff have been paid and will continue to be employed," a st...Read More
Our continued efforts to alert and assist fellow traders to the incredible setups that are currently happening throughout the globe with regards to increased global economic tensions are starting to take root. We are hearing from our readers and follower and we love the comments we are receiving. Near April/May 2018, we started predicting that the end of 2018 and almost all of 2019/202...Read More
Both equities sport attractively priced optionsIt's high time we check in on two commodity stocks that have struggled mightily the last 12 months. In fact, aluminum concern Alcoa Corp (NYSE:AA) and energy name Carrizo Oil & Gas Inc (NASDAQ:CRZO) have landedon Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks with a -50% year-over-year return.At last check, Alcoa stock was down...Read More
By: Ira EpsteinGold at Bollinger - lower band support. Market is oversold:Read More
Stocks are in wafting mode, indifferent to tariff wars, slumping retail sales and impeachment talk. The broad averages have been racking up impressive gains even when buying interest is weak to nil. It certainly felt that way on Tuesday, when the Dow Industrials rose nearly 200 points on the opening bar, then hovered aloft for the rest of the day. For every tepid buyer it would seem that there i...Read More
Short sellers in gold and silver need to trade very carefully as long as they do not fall below $1260 and $1419. There can be very sharp pullback rallies as long as gold trades over $1260 and silver trades over $1419. Crude oil will break free from $60-$65 consolidation phase and form a new range. Copper and industrial metals can trade with a softer bias. Momentum for gold and silver is down....Read More
In our continued effort to help skilled traders/investors understand the future risks associated with geopolitical market turmoil, the EU Elections next week and the continued US/China trade war, this Part III of our Sector Rotation article will highlight certain sectors that we believe may continue to perform over the next 12 to 24+ months and help traders/investors survive any extended price vol...Read More
Twitter call options are popular todayThe Dow Jones Industrial Average (DJI) is lower today, as negative trade headlines and a retail sector sell-off weigh. On the trade front, Wall Street is reacting to reports that the U.S. could place Huawei-like restrictions on a handful of Chinese video surveillance firms, including Hikvision. Meanwhile, there willbe the afternoon release of the Fed's minutes...Read More
Puts are trading at more than 41 times the expected intraday ratePure Storage Inc (NYSE:PSTG) stock is down 21% at $16.28 -- sinking back toward its late-December lows, and pacing toward its worst day ever. Last night, the data storage name reported a wider-than-anticipated adjusted first-quarter loss of 11 cents per share on $326.7 million in revenue, less than analysts were expecting. PSTG also...Read More
A federal judge ruled Qualcomm's practices as a violation of antitrust lawThis morning, U.S. District Judge Lucy Koh in San Jose, California, ruled that Qualcomm, Inc. (NASDAQ:QCOM) has violated antitrust law. More specifically, Koh accused the Apple supplier of marginalizing competition for cellphone chips by exacting steep licensing fees. In her own words, "Qualcomm's licensing practices have s...Read More
Glencore AG has signed an agreement to supply cobalt feedstock and financing to recommission the First Cobalt refinery in Ontario, Canada.The memorandum of understanding could result in annual production of roughly 2,000-2,500 tonnes of cobalt in sulfate from the plant, which is North America's only primary cobalt refinery.Glencore will evaluate making a loan to fund the capital requirements to re...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 22.Read More