Could this biotech bet bank you 1,700% profit?Contributed by Raging BullBig pharma isn't what it use to be and investors are wondering what the future holds for the Goliaths of the industry.Kyle Dennis, one of the most well known up and coming traders, saw this shift happening when others didn't. Years ago, he began to place a heavy emphasis on small-cap biotech stocks he saw enormous upside for a...Read More
Short-term options premiums are relatively rich at the moment, thoughThe shares of Cronos Group Inc (NASDAQ:CRON) topped out at a record high of $15.30 on Sept. 19, as the cannabis craze gripped Wall Street. The weed stock has since retreated from this milestone, and following a quick pop higher last week ahead of Canada's legalization of recreational marijuana, is down 8.2% today to trade at $7.8...Read More
What the recent spike in put buying could mean for the S&PAs Schaeffer's Senior V.P. of Research Todd Salamone pointed out in this week's Monday Morning Outlook, equity option buyers have soured on the market amid the latest post-rate-hike hangover for stocks. In reaction to the recent sell-off on Wall Street, "this group was buying equity put options relative to call options at a rate similar to...Read More
eBay reports earnings next weekeBay Inc (NASDAQ:EBAY) keeps sinking to new lows and analysts continue to cut their outlooks on the stock. Since yesterday's close, EBAY has been hit with no fewer than eight bear notes, including a downgrade to "sector perform" from "outperform" at RBC, which lowered its price target by $13 to $34. Meanwhile, Susquehanna, Raymond James, SunTrust Robinson, and Jeffer...Read More
The struggling FAANG stock is at risk of more bearish brokerage notesJefferies cut its price target on Facebook, Inc. (NASDAQ:FB) to $200, though the brokerage firm reiterated its "buy" rating on the FAANG stock. This relatively bearish analyst note comes ahead of Facebook's earnings report, due after the close next Tuesday, Oct. 30, and -- alongside stiff broad-market headwinds -- has FB shares t...Read More
The semiconductor sell-off is worsening todayAmid this morning's steep broad market sell-off, several analysts weighed in on chip stocks, doling out mostly downgrades and price-target cuts. Many believe the recent semiconductor sector underperformance is due to a possible "cyclical correction" and trade tensions with China. To get more specific, Susquehanna slapped both Applied Materials, Inc. (N...Read More
The social media stock has shed 53% year-to-dateShares of Snap Inc (NYSE:SNAP) are taking a hit in electronic trading, after the stock this morning received a fresh round of price-target cuts ahead of the social media name's earnings report, due after the market closes this Thursday, Oct. 25. SNAP has struggled on the charts since its February peak, and, as of last night's close at $6.84, had she...Read More
Prices for rebar and billet in the United Arab Emirates were mostly stable in the week to Tuesday October 23, although market participants expect to soon see an increase in import duties.Members of the Gulf Co-operation Council (GCC) will soon increase import duties on rebar and wire rod to 10% from the current 5%, sources told Fastmarkets on Tuesday, October 23.No official announcement has y...Read More
CloseGain/LossGold $1230.10+$7.30Silver$14.73+$0.16XAU69.50+0.68%HUI155.38+1.24%GDM558.63+0.91%JSE Gold1228.01+62.06USD95.93-0.10Euro114.71+0.02Yen89.14+0.34Oil$66.43-$2.9310-Year3.170%-0.027T-Bond138.125+0.3125Dow25191.43-0.50%Nasdaq7437.54-0.42%S&P2740.69-0.55% The Metals: Gold gained $16.70 to $1239.50 just after 8AM EST before it chopped back lower in New York, but it...Read More
CloseGain/LossGold $1230.10+$7.30Silver$14.73+$0.16XAU69.50+0.68%HUI155.38+1.24%GDM558.63+0.91%JSE Gold1228.01+62.06USD95.93-0.10Euro114.71+0.02Yen89.14+0.34Oil$66.43-$2.9310-Year3.170%-0.027T-Bond138.125+0.3125Dow25191.43-0.50%Nasdaq7437.54-0.42%S&P2740.69-0.55% The Metals: Gold gained $16.70 to $1239.50 just after 8AM EST before it chopped back lower in New York, but it...Read More
By Ira EpsteinGold breaks out of bullish pennant formation.https://www.iraepstein.com/ Read More
By Craig HemkeThe price action in palladium is eerily reminiscent of early 2001, and this could have major implications for gold and silver in the months ahead. Back in 2001, the price of palladium spiked to highs above $1100/ounce. At the time, major physical palladium shortages appeared and tremendous strain was put upon the LBMA palladium market in London. Lease rates soared, and it appeared...Read More
Source: Michael Ballanger for Streetwise Reports 10/22/2018 Sector expert Michael Ballanger explores the impacts of several historic market crashes. -->Q: How do you get your broker out of a tree?A: Cut the rope. Common joke from October 1987It was 31 years ago, on Oct. 19, that I watched a $300,000 stock portfolio begin to vaporize, with a Monday loss of 35% morphing into a 93% amputation...Read More
Graceland UpdatesBy Stewart Thomson 1. Is gold bullion, the "Queen of Assets", breaking out to the upside from a beautiful pennant formation?2. For the likely answer to that interesting and potentially enriching question, please click here now. Double-click to enlarge this daily gold chart.3. Gold has formed an important double bottom pattern. After an initial breakout to...Read More
By Dave KranzlerIt's important to keep in mind that the mining stocks have been sold to levels well-below their intrinsic value - in the case of larger-cap producing miners. Or their "optionality" value - in the case of junior mining companies with projects that have a good chance eventually of converting their deposits into mines. "Optionality" value is based on the idea that junior exploration...Read More
By Ricky WenMonday's session was a doji range day with the S&P 500 repelled at the morning high near 2780, dropping towards Friday's low around 2750, and then consolidating around the intraday lows for most of the day. Basically, the price action couldn't get out of the danger zone as it remained below 2770-2780 for the EOD close for the daily W-shape pattern.Fast forward to the overnight Globex...Read More
There is an age-old relationship between prices and interest rates that Keynesian economists have called a paradox ("Gibson's Paradox"). The relationship was clearer during the Gold Standard era, but as I explained in a previous post it is still apparent if prices are measured in gold.To understand "Gibson's Paradox" and why it actually isn't a paradox, refer to the earlier post linked above. Su...Read More
Only one digit has changed. But it may have profound consequences, sending the country closer to junk status. Meanwhile, Rome and Brussels clash over budget plan. Will that duel benefit or harm the yellow metal? Only One Notch Above Being Junk Italian drama continues. On Friday, Moody's, one of the most significant rating agencies in the world, downgraded the Italian credit rating from Baa2 to...Read More
- Gold rallied "as stocks retreated" and "market risk became more systemic"- As stock sell-off became systemic globally, gold rose meaningfully - World Gold Council- IMF Global Financial Stability report highlights an increase in level of risk among multiple global metrics - WGC Investment Update*Happy 15th Birthday GoldCore*via Gold.orgThe latest IMF Global Financial Stability report (release...Read More
China's domestic rebar prices were flat on Tuesday October 23, with trading activity dipping below that seen a day earlier. Domestic Eastern China (Shanghai): 4,620-4,650 yuan ($666-670) per tonne, unchangedNorthern China (Beijing): 4,370-4,400 yuan per tonne, unchangedRebar futures fluctuated rapidly during the day before ending it with a slight drop, which sapped buying interest in the spot mark...Read More