Chinese stocks just had a huge sessionDow Jones Industrial Average (DJI) futures are trading above fair value this morning, signaling a nearly triple-digit jump for the blue-chip index. Stocks look set to follow the lead of their Chinese counterparts, which soared thanks to reports the country could introduce new stimulus measures, while President Xi also promised to support the private sector. Ba...Read More
CMG appears to have found support at its 160-day trendlineThe shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) are 1.7% higher before the open, after RBC upgraded the restaurant stock to "outperform" from "sector perform," while boosting its price target to $510 from $450. The analyst in coverage likes Chipotle's menu innovation and digital initiatives, as well as its commitment to improving res...Read More
CloseGain/LossGold $1222.80-$3.60Silver$14.57-$0.06XAU69.04-1.50%HUI153.48-1.35%GDM553.54-0.98%JSE Gold1165.95-28.97USD96.03+0.31Euro114.69-0.41Yen88.80-0.32Oil$69.36+$0.0810-Year3.197%+0.001T-Bond137.75+0.03125Dow25317.41-0.50%Nasdaq7468.63+0.26%S&P2755.88-0.43% The Metals: Gold saw slight gains in Asia before it drifted down to $1220.50 by midmorning in New York and the...Read More
How to (carefully!) play a negative sentiment extreme in the options market"...put open interest at the SPY 280 strike was huge, and a break of this level proved devastating for bulls, as selling accelerated under heavy futures selling."...If the SPY remains above 272 and, better yet, 275, time is on the side of the bulls, as short-covering related to put open interest at these strikes and below c...Read More
CloseGain/LossGold $1222.80-$3.60Silver$14.57-$0.06XAU69.04-1.50%HUI153.48-1.35%GDM553.54-0.98%JSE Gold1165.95-28.97USD96.03+0.31Euro114.69-0.41Yen88.80-0.32Oil$69.36+$0.0810-Year3.197%+0.001T-Bond137.75+0.03125Dow25317.41-0.50%Nasdaq7468.63+0.26%S&P2755.88-0.43% The Metals: Gold saw slight gains in Asia before it drifted down to $1220.50 by midmorning in New York and the...Read More
By Clint SiegnerThe outcome of the November 6th voting will be a big deal for investors, including gold and silver bugs. The metals, perhaps more than most other asset classes, are sensitive to geopolitics.Let's break down what the potential voting outcomes might mean for the factors currently driving the metals.Let's start with the equity markets. Stocks got a boost from President Trump's elect...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12October 22, 2018 Q. Mr. President, the Democrats say that it's your economic policies that caused that downturn on Wall Street yesterday.The President. "Yes, it's funny, Bill [Bill Plante, CBS News], that I couldn't understand, at the beginning, t...Read More
Huge recent imbalances in the gold futures market led many to predict that speculators (usually wrong at big turning points) would be forced to close out their historically extreme short bets. Put another way, too many traders were using gold futures contracts to bet that precious metals will go down, and when those bets are reversed out it will make gold and silver go up. Last week this predict...Read More
There were not many changes in gold, silver and mining stocks on Friday, and not much has changed in terms of the weekly closing prices either. Gold and gold stocks closed modestly higher, and silver was up by $0.01 last week (after declining $0.01 in the previous week). Some data sources point to $0.02 movement in both weeks, but the overall implication is the same - nothing really happened sin...Read More
By Gary SavageFor nine years now every time we have an intermediate degree correction the perma bears crawl out of the woodwork and start screaming the sky is falling. If you had listened to these people you would have missed one of the greatest bull markets in history.We had one of the most destructive bear markets in history in 2008/09. It stands to reason it should generate one of the stronge...Read More
By Keith WeinerLet's continue to look at the fiasco in the franc. We say "fiasco", because anyone in Switzerland who is trying to save for retirement has been put on a treadmill, which is now running backwards at - 3/4 mph (yes, miles per hour in keeping with our treadmill analogy). Instead of being propelled forward towards their retirement goals by earning interest that compounds, they are lo...Read More
By Avi GilburtThe general investment public usually applies the same principles when they choose how and when to invest their hard-earned money. (And we wonder why the general public always gets caught holding the bag at the highs and selling at the lows?) And, much of these "principles" are merely phrases which sound reasonable, but when analyzed, one realizes that they are lacking in substance...Read More
Full Article: THE ROSEN MARKET TIMING LETTERBy: RONALD L. ROSENSince the high of $21.225 in the week of July 8, 2016 silver bullion has consistently made lower peaks right into the week of October 17, 2018. However, ...... both the silver and gold shares have closed above their most recent peak. Could this be a sign of the resumption of the bull market in the precious metals complex? Having star...Read More
Seaborne iron ore pellet prices have fallen - as was expected by market participants - while demand for pellet cargoes in China eased due to the looser restrictions imposed on steel mills for November.The MB 65% Fe Iron Ore Pellet Index, published by Fastmarkets MB, was at $155.63 per tonne cfr China on Friday October 19, down by $4.91 per tonne from a week earlier.The fall in the MB 65% Fe Iron O...Read More
Prices for China-origin UG2 chrome ore and Turkish lumpy chrome ore rose over the trading session on Friday October 19, while Chinese domestic ferro-chrome spot prices fell slightly on weak demand from stainless steel mills. Turkish lumpy chrome ore prices to China make strong gain in wake of higher UG2 prices Chrome ore price in China supported by lower estimates of stocks Domes...Read More
BASF and Nornickel have established a strategic partnership centered around battery materials for electric vehicles, including a feedstock supply deal and co-located facilities, the companies said.The European chemical company has selected Harjavalta, Finland, as the first location for battery materials production that will serve the European automotive market. The plant will be constructed adjace...Read More
Base metals prices on the London Metal Exchange were higher across the board by the close of trading on Monday October 22, with prices elevated despite a slightly weaker US stock market opening in addition to a strong US dollar index. Despite a fresh cancelation of more than 25,000 tonnes from LME-listed warehouses in Singapore, the three-month aluminium price drifted down from its intraday high o...Read More
Export prices for flat steel from the Commonwealth of Independent States went down on Monday October 22 on weak demand in the key outlet regions.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) went down to $517-523 per tonne fob Black Sea on October 22, from $520-530 per tonne fob Black Sea a week earlier."Weak Chinese prices [for HRC] are not the reason for th...Read More
The latest news and price moves to start the Asian day on Tuesday October 23.Base metals prices on the London Metal Exchange were higher across the board by the close of trading on Monday October 22, with prices elevated despite a slightly weaker stock market opening in the United States and a strong US dollar index. Read more in our live futures report.Here are how prices looked at the close...Read More
The latest metal markets news and price moves to start the North American day on Monday October 22. Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Monday October 22, buoyed by a sharp uptick in Chinese stock markets, while a sizeable fresh cancelation in LME aluminium stock provided upward momentum for the light metal.Appreciating by just...Read More