The president is reportedly changing his tune on defense spendingDefense stocks are higher today, bucking the broad-market sell-off, amid reports that President Donald Trump is performing an about-face on defense spending. The president in October said the defense budget for 2020 would be $700 billion, about a 5% cut, but rumor has it he told Defense Secretary Jim Mattis to submit a $750 billion b...Read More
Listen to what gold is saying. It’s not deflation that we have to worry about. We’re about to enter a multi year period of rising inflation. Seriously did you think years of QE weren’t going to have consequences at some point?For a long time I’ve maintained several key macro views.Gold started a new bull market in late 2015.The dollar started a secular bear market in early...Read More
The Dow is down roughly 1.5% at middayU.S. stocks are getting hammered once again, as fear continues to grip Wall Street. The Dow Jones Industrial Average (DJI) and its index peers are all falling fast, last seen near session lows, putting the Dow and S&P 500 Index (SPX) in territory not seen since early May. The financial sector is leading the downturn, while energy shares are also getting whacke...Read More
FIVE has added 48% year-to-dateThe shares of Five Below Inc (NASDAQ:FIVE) are up 2.9% to trade at $98.21 today, after Loop Capital upgraded the discount retailer to "buy" from "hold," while nudging its price target up to $120 from $110. The analyst in coverage is encouraged by the company's improving merchandise and brand awareness, and believes it is "more economic downturn resistant" than oth...Read More
X hit a 17-month low earlier on a mixed analyst noteIt's a volatile session on Wall Street today, and United States Steel Corporation (NYSE:X) is no exception. X shares jumped 1% at the open after UBS upgraded the steel stock to "neutral" from "sell," saying its 2018 decline has created an attractive valuation. However, the brokerage firm also cut its price target to a Street-low $22, down from $2...Read More
It's the first signal of its kind since October 2015Just before the Thanksgiving holiday, the National Association of Active Investment Managers (NAAIM)exposure index was sitting at its lowest point since February 2016, at 30.55. In other words, active money managers were very limited in their overall equity exposure, as the S&P 500 Index (SPX) was testing its October lows. However, NAAIM bulls ha...Read More
There's been a heavy dose of M&A and activist chatter this morningNutriSystem Inc. (NASDAQ:NTRI) stock is trading up 31.3% today at $44.90, following news the dieting expert is being bought by Tivity Health Inc (NASDAQ:TVTY) for $1.4 billion, or $47 per share. The shares had been trading around their downtrending 200-day moving average since early November, moving further away from their 52-week p...Read More
The bull note comes on the heels of positive mid-stage study dataThe shares of Marinus Pharmaceuticals Inc (NASDAQ:MRNS) are up 11.2% to trade at $5.75, after the biopharmaceutical firm saidits postpartum depression drug, ganaxolone, was well-tolerated in a mid-stage study, and that patients showed no serious side effects to the treatment. Cantor Fitzgerald was quick to chime in, underscoring its...Read More
Last week was FDX's worst week since 2009The shares of FedEx Corporation (NYSE:FDX) are down 1.2% in electronic trading, after BofA-Merrill Lynch downgraded the shipping name to "neutral" from "buy," while slashing its price target to $220 from $304. The analyst in coverage waxed pessimist on the company's management shakeup last week, namely thedeparture of the head of the company's Express uni...Read More
Chinese imports and exports grew at slower-than-anticipated paces in NovemberDespite sharp losses in Asia overnight, Dow Jones Industrial Average (DJIA) futures are trading above fair value this morning. The premarket gains are modest, though, as traders digest a brutal week on Wall Street, with the Dow, S&P 500 Index (SPX) and Nasdaq Composite (IXIC) all coming off their worst weekly losses since...Read More
SPY is down about 6% over the past month, breaking a typically bullish post-Fed pattern"After Friday's move back below [SPY] $280, bulls should seek a move back above this round number and the FOMC decision-day close of $280.50, before getting aggressive..."-- Monday Morning Outlook, November 12, 2018"Despite last week's rally, equities are still locked in an area that is pivotal for bulls and bea...Read More
CloseGain/LossGold $1244.30-$4.10Silver$14.52-$0.11XAU67.40-0.79%HUI154.01+0.05%GDM560.44+0.02%JSE Gold1249.20+48.07USD97.21+0.61Euro113.57-0.53Yen88.34-0.46Oil$51.00-$1.6110-Year2.854%-0.002T-Bond144.0625+0.15625Dow24423.26+0.14%Nasdaq7020.52+0.74%S&P2637.72+0.18% The Metals: Gold saw slight gains in Asia before it fell back to $1243.50 by a little after 8AM EST and then...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort173,019124,01852,329135,067193,316360,415369,663Change from Prior Reporting Period 16,240-30,890-13,215-37,2914,858-34,266-39,247Traders17075725050248174 Small Speculators (C) GoldSeek.com LongShortOpen Interest 39,50430,256399,919 -8,616-3,635-42,882 non reportable positionsC...Read More
By Keith WeinerThe Baby Boom generation may be the first generation to leave less to their children than they inherited. Or to leave nothing at all. We hear lots often from Baby Boomers about the propensities of their children's generation. The millennials don't have good jobs, don't save, don't buy houses in the same proportions as their parents, etc.We have no doubt that attitudes have changed...Read More
Trading options is often scary... but it doesn't have to be!It's the biggest mistake options traders make... and it's the reason why 9 people out of 10 quit options...Most options traders fall for the same trap - they "buy" an option and end up losing money on 90% of their trades.Of course, any options player knows that losing trades are part of the game. But it doesn't mean losing has to be the n...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12December 10, 2018"If I owe a million dollars, I am lost. But if I owe $50 billion the bankers are lost" Celso Ming (Brazilian journalist, 1942-) "The principles of successful stock speculation are based on the supposition that people will contin...Read More
The 'Everything Bubble' has popped By Chris MartensonNow that the world's central banking cartel is taking a long-overdue pause from printing money and handing it to the wealthy elite, the collection of asset price bubbles nested within the Everything Bubble are starting to burst. The cartel (especially the ECB and the Fed) is hoping it can gently deflate these bubbles it created, but that's...Read More
Index futures were groping for a bottom Sunday night, extending Friday's losses by about a 35% on light volume. DaBoyz will have a chance to exhaust sellers at somewhat lower levels, since the Mini-Dow and the Mini S&P were within easy distance of Hidden Pivot supports that lie, respectively, at 24094 and 2599.25. If neither holds, we'll shift our attention to market bellwether AAPL, which could...Read More
Apart from a 2-week period around the middle of the year, my Gold True Fundamentals Model (GTFM) has been bearish since mid-January 2018. There have been fluctuations along the way, but at no time since mid-January have the true fundamentals* been sustainably-supportive of the gold price. However, significant shifts occurred over the past fortnight and for the first time in quite a while the fun...Read More
CloseGain/LossOn WeekGold$1248.40+$10.10+2.19%Silver$14.63+$0.25+3.25%XAU67.94+2.40%+5.40%HUI153.93+2.58%+6.13%GDM560.05+2.34%+5.32%JSE Gold1201.13-0.09+9.31%USD96.60-0.14-0.61%Euro114.10+0.24+0.80%Yen88.80+0.01+0.67%Oil$52.61+$1.12+3.30%10-Year2.856%-0.031-4.86%Bond143.90625+0.34375+2.27%Dow24388.95-2.24%-4.50%Nasdaq6969.25-3.05%-4.93%S&P2633.08-2.33%-4.60%Weekly Performance (Source: GoldSeek...Read More