Gold miners completed the inversehead-and-shoulders pattern – it’s now a fact. And many analysts would have onebelieve that it’s the only fact that matters right now or that it’s of majorimportance. But just like focusing on one tree can make one miss the entireforest behind it, the above could make the entire precious metals outlookappear different than it really is. There...Read More
CAT, MCD, VZ, MSFT, and TWTR will also step up to the earnings plateIt's a busy week ahead, with another round of housing data and the third-quarter gross domestic product (GDP) estimate on tap.Earnings season is full speed ahead, with several big names reporting, including Dow members Caterpillar Inc. (NYSE:CAT), McDonald's Corp (NYSE:MCD), and Verizon Communications Inc. (NYSE:VZ), as well as...Read More
The shares fell to six-year lows after a handful of price-target cutsSubscribers to Schaeffer's Weekend Trader Series service just scored a 100% profit in five weeks with the Invesco Ltd. (NYSE:IVZ) January 2019 26-strike put . Below, we're going to take a look back at why we were bearish on the investment management concern, and how IVZ performed after we suggested the put option. When we ente...Read More
When the market, represented by SPDR Gold Trust (NYSEARCA:GLD), broke down below 117.40, and then followed below the next support in the 114 region, we were hyper-focused on the 109 region. Thus far, that is where GLD has bottomed out (in overnight action). From there, we were expecting a rally, and the market has not disappointed.For the last two weeks, I have been outlining how the metals comple...Read More
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.Every American needs to learn how to protect and secure their retirement against the worst stock market crash in history, and this IRA/401KInvestment Guide 2018 is one way the average American can help protect their investments in the event of a crisis.Jim Rickards is the nation's most vocal and intelligen...Read More
Sector peer Proteostasis Therapeutics, on the other hand, is up over 300% todayProteostasis Therapeutics (PTI) scored a big win after reporting positive data for its cystic fibrosis drug in an early stage study. In response, sector peer Vertex Pharmaceuticals, Inc. (NASDAQ:VRTX) is lower today, down 3.5% to trade at $179.02, at last check. Options traders are hitting overdrive on Vertex today, w...Read More
The brokerage firm expressed concern over margins and same-store salesGap Inc (NYSE:GPS) is trading near the bottom of the S&P 500 Index (SPX) today, down 6.1% at $25.46, and fresh off a 13-month low of $25.34. The sell-off was sparked by a bear note at J.P. Morgan Securities, which downgraded GPS stock to "underweight" from "neutral," and slashed its price target by $6 to $24 -- the lowest on Wal...Read More
AAPL shares are down with the broader marketStocks are selling off today on fears of rising interest rates and Chinese markets. Three names in particular worth monitoring are iPhone creator Apple Inc. (NASDAQ:AAPL), freight concern Canadian National Railway (NYSE:CNI), and drugmaker Apellis Pharmaceuticals Inc (NASDAQ:APLS). Keep reading to see what's moving shares of AAPL, CNI, and APLS. AAPL Low...Read More
The notorious short seller says the FDA has proven a 'stock scheme'The shares of PolarityTE Inc (NASDAQ:PTE) are getting slaughtered today, after Citron Research issued its "most damaging report to date." Specifically, the notorious short seller said the Food and Drug Administration (FDA) has proven a "stock scheme," and claims the company's "groundbreaking technology" is "controlled [by] a nefari...Read More
Cleveland-Cliffs stock has been a long-term outperformer Mining stock Cleveland-Cliffs Inc (NYSE:CLF) is down 4.8% at $11.27 in afternoon trading, though a specific catalyst remains unclear. Regardless, CLF has been a climber on the charts, and below we will take a look at what the options market has priced in for the stock's third-quarter, post-earnings move; the company is scheduled to report b...Read More
Gold rebounds from 3-day lows but fails to break above $1,230/oz. Yellow metal receives support from lower US yields amid risk aversion. Gold climbed from $1,218/oz and peaked at $1,230 during the US session but found resistance and pulled back. As of writing was trading around $1,225 away from the highs but still on positive ground for the day. The metal continues to move in a conso...Read More
The VIX is set to snap its four-day losing streakLosses for the Dow Jones Industrial Average (DJI) are accelerating at midday, as investors continue to fret about the hawkish Fed meeting minutes and digest a big overnight sell-off in Chinese stocks. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also lower, as corporate earnings begin to take center stage. Elsewhere, Wall Street's "fear...Read More
The stock was overbought heading into today's tradingIntelsat SA (NYSE:I) has had a jaw-dropping run in 2018, up nearly 1,000% year-to-date. What's more, the shares hit a record high of $37.70 yesterday, but were last seen down 1.4% to trade at $36.96. Today's pullback may have been in the cards, considering I stock's 14-day Relative Strength Index (RSI) closed last night 77 -- deep in overbought...Read More
NVS will pay $2.1 billion in cash for ECYTSwitzerland's Novartis AG (NYSE:NVS) said it will pay $2.1 bllion in cash for Endocyte (ECYT) -- or $24 per ECYT share -- hoping to capitalize on the Indiana-based drugmaker's prostrate cancer treatment. Novartis also reported better-than-expected third-quarter profit and raised its full-year revenue forecast, even as quarterly sales fell just short of the...Read More
BofA-Merrill Lynch analysts think there's a chance housing recovers, thoughThe housing sector keeps disappointing, most recently evidenced by weak housing starts data yesterday. Meanwhile, shares of U.S. homebuilders continue to struggle, and this morning Toll Brothers Inc (NYSE:TOL) and PulteGroup, Inc. (NYSE:PHM) are both in the red once again. Below is a quick look at how shares of TOL and PHM...Read More
This is the second major announcement for SIRI within the past monthShares of streaming name Sirius XM Holdings Inc (NASDAQ:SIRI) are popping in early trading, after the company announced a new partnership with Amazon (AMZN) that includes offering a three-month trial of its products to consumers who purchase Amazon's Echo Dot smart speaker. In response, SIRI is up 1.3% at $6.33, at last check.It'...Read More
Uncertainty still hangs over the market following the Fed minutes releaseI stopped by CNBC's Squawk Box this morning, where the discussion centered around the aftermath of Wednesday's freshly released September Fed meeting minutes. The Federal Open Market Committee (FOMC) last met ahead of the equity market's wild October sell-off, and the minutes revealed that some members are now in favor of a r...Read More
CloseGain/LossGold $1225.10+$1.30Silver$14.57-$0.06XAU70.05+0.28%HUI155.48+0.16%GDM556.39+0.27%JSE Gold1198.81+8.42USD95.97+0.39Euro114.59-0.46Yen89.37+0.02Oil$68.65-$1.1010-Year3.182%-0.009T-Bond138.00+0.09375Dow25379.45-1.27%Nasdaq7485.14-2.06%S&P2768.78-1.44% The Metals: Gold dipped $5.10 to $1218.70 in Asia, but it then chopped back higher in London and New York and e...Read More
By Ira EpsteinGold shines while other metals break. https://www.iraepstein.com/ Read More
Source: Michael J. Ballanger for Streetwise Reports 10/17/2018 Precious metals expert Michael Ballanger discusses the bullish set-up for gold and why he believes this time is different. -->For the first time in months, Fido the Wonder Dog has been in my office and at the foot of my bed 24/7 for the past few days giving me great solace that the current advance in precious metals prices is he...Read More