By: Ira EpsteinGold reaching into resistance areas we have seen before:Read More
Short-term options are attractively priced, to bootShares of marijuana concern Aurora Cannabis Inc (NYSE:ACB) are down 3% to trade at $7.50 today. ACB's technical setup has been bleak of late, with the stock heading toward a third straight weekly loss. However, this pullback could be short-lived, if history is any indicator.More specifically, ACB is now within 3% of its 320-day moving average. Sin...Read More
Precious metals expert Michael Ballanger discusses geopolitical events and movements in the precious metals markets. Hallelujah!It was only a week ago that I was opining that there was nothing ominous in the technical picture for gold and silver that was altering my bullish stance; RSI and MACD were trending up and price was stubbornly refusing to yield to the myriad of bullion bank attacks missio...Read More
CTRV has roughly doubled after an early-stage liver fibrosis treatment proved successfulThe Dow has continued its rally, eyeing a fourth straight win today thanks to strength from the energy sector. Drug stocks ContraVir Pharmaceuticals Inc (NASDAQ:CTRV) and La Jolla Pharmaceutical Company (NASDAQ:LJPC) are soaring today, too. Below, we'll take a look what's driving CTRV and LJPC's big moves. CT...Read More
Trade could also remain in focus, with tariffs on Mexican goods slated for June 10After a busy start to the month, June's pace will likely slow next week as the summer doldrums set in on Wall Street. Earnings reports are light, and no Fed speakers are on tap. Investors will instead digest the latestinflation figures -- especially in light of recent Fed comments -- and retail sales toward the end o...Read More
The short seller warns against trying to "catch a falling knife"The shares of FleetCor Technologies, Inc. (NYSE:FLT) are lower today, after short seller Citron Research weighed in on the company. While this isn't the first time Citron has taken aim at FLT -- it called the fuel card provider a "predatory company" in April 2017 -- today's note has fueled crazy options volume on the shares.More speci...Read More
Michael Ballanger explains how he is reacting to the advances in the gold ETFs. Given the torrid advance in gold (GLD [SPDR Gold Shares]) and the leveraged miner ETFs (NUGT [Direxion Daily Gold Miners Index Bull 3x]/JNUG [Direxion Daily Junior Gold Miners Index Bull 3x]), it is of note that RSI readings have screamed northward to the point where I don't think I can recall a shift in momentum quite...Read More
Stifel just started coverage with a "buy" rating Stifel just initiated coverage on the marijuana producer Canopy Growth Corp (NYSE:CGC) this morning, calling the stock a "buy" and starting with a $47.77 price target -- a nearly 20% premium to where the stock's current perch of $40.78. The analyst said Canopy is a leader in the relatively new pot industry, calling the Canadian cannabis concern the...Read More
Chevron and Exxon Mobil are two of the best Dow stocks at middayThe Dow Jones Industrial Average (DJI) appears to be headed toward a fourth straight win, up on strength in energy stocks Chevron (CVX) and Exxon Mobil (XOM). While the big-cap index trades near its session highs, the S&P 500 Index (SPX) has pared a portion of its earlier gains and the Nasdaq Composite (IXIC) is struggling to stay in...Read More
Goldman took differing views on UAL and SAVEAnalysts at Goldman Sachs weighed in with opposing views on airline names United Continental Holdings Inc (NASDAQ:UAL) and Spirit Airlines Incorporated (NYSE:SAVE). Let's take a look at how shares of UAL and SAVE are trading in response. UAL was upgraded to "buy" from "neutral" at the brokerage firm, while the analyst maintained its $108 price target. Th...Read More
European steelmakers have called for the European Commission (EC) to review its decision to liberalize its import safeguard measures by increasing quota volumes by 5% each year, Fastmarkets has learned.The current safeguard mechanism will increase the level of tariff-free quotas for each product category by 5% after each year. The first liberalization will take place on July 1, 2019 - the end of t...Read More
Take advantage of the first amendment, and participate in a nation-wide poll.With the 2020 election growing ever closer, the country continues to be divided politically.From disputes about the appropriateness of displaying the Confederate flag, to rights for minorities, and the ever-growing concern about security at the U.S. border, the 2020 election promises to be contentious... if not the most c...Read More
A simple way to stop picking losers, and start cashing in like Wall Street's elite.Most traders would never believe that 9 out of 10 trades could be winners.But while it may sound impossible, thanks to a research breakthrough, it may not be as far-fetched as many think.JPMorgan's trading desk produced a 99.52% win rate from 2013 through 2017. That includes 2 straight years without a losing day....Read More
The retailer lowered its full-year forecast on tariff headwindsAt Home Group Inc (NYSE:HOME) stock is getting slaughtered today, down 47.2% to trade at $9.25 -- marking its first trip into single-digit territory since it began trading publicly in August 2016. The bear gap comes after the home decor retailer reported an adjusted first-quarter earnings miss of 21 cents per share, while same-store sa...Read More
QRVO is fresh off its worst month in over two yearsWhile Morgan Stanley dished out an upgrade to Advanced Micro Devices (AMD),Barclays doled out bear notes to its sector peers, downgrading Apple supplier Qorvo Inc (NASDAQ:QRVO) to "equal-weight" from "overweight" and trimming its price target to $60 from $70. The analyst in coverage warned of further trade war escalation, and a potentialresponse o...Read More
The company reported a decline in comparable sales and a revenue miss for its first quarter First quarter results from craft retailer Michaels Companies Inc (NASDAQ:MIK) has sparked some serious selling this morning. The firm reported a 2.9% decline in same-store sales for the period, and revenue that came in lower than analyst expectations. The company also predicted a potential 1.5% drop in comp...Read More
AMD has been making headlines this week with partnership newsTech giant Advanced Micro Devices, Inc. (NASDAQ:AMD) is back in headlines this morning, still receiving praise from its Monday announcement that it has partnered up with Samsung Electronics. Morgan Stanley this morning upgraded AMD to "equal weight" from "underweight," and hiked its price target to $28 from $17. The firm said it expects...Read More
South Korean steel majors Posco and Hyundai Steel have both been asked by provincial governments to idle their blast furnaces over pollution levels, market sources told Fastmarkets MB on Tuesday June 4."However, there is no confirmation as to whether both steelmakers will stop their blast furnaces and they...Read More
The Dow is aiming for a fourth consecutive up dayInvestor hope for a potential Fed rate cut has stock futures trading above fair value, setting the Dow Jones Industrial Average (DJI) up for a fourth straight win. Also in focus are President Donald Trump's tweets about immigration and tariff discussions with Mexico from last evening, in which he wrote, "Progress is being made, but not nearly enough...Read More
Dr. Chris Martenson PhD & Chris Waltzek PhD - June 4th, 2018. * Download MP3 formatHighlightsDr. Chris Martenson of PeakProsperity.com, author of Prosper! notes the global "everything bubble." Virtually every asset class was inflated by profligate monetary policies and various fiat schemes. The global economy could be on the cusp of a 2nd Great Recession due in part to protectivist trade...Read More