Although gold has successfully signaled itsbull market, silver is yet to convincingly do so. It may be true that silverfollows gold, but the two can diverge for quite some time. So, it is essentialthat silver gives us a clear bull market signal to confirm that the bull isreal.The following technique could provide a wayto track silver until it provides that clear bull market signal. Below, is a lon...Read More
AutoZone stock recently hit an all-time high AutoZone, Inc. (NYSE:AZO) stock has had a huge year, rising 29% in 2019 and hitting an all-time high of $1,135.39 last week. Just this morning, Guggenheim upgraded its opinion on the auto parts retailer to "outperform" from "perform," and lifted its price target to $1,225 from $900, expecting more strong sales growth going forward. Taking a step back, m...Read More
STZ option bears were circling ahead of earningsThe shares of Constellation Brands Inc (NYSE:STZ) are headed for their fourth day in the black, after the adult beverage concern announced fiscal first-quarter earnings and revenue that beat analysts' expectations. The company said sales of its Modelo and Corona Premier brands were major drivers, and lifted its fiscal 2020 profit forecast as well. T...Read More
SQ options can be had for a bargain at the moment, tooThe shares of Square Inc (NYSE:SQ) are up 2.3% to trade at $72.93 this morning, after Instinet hiked its price target to $100 from $90. The triple-digit mark sits just under SQ's Oct. 1 record high of $101.15, and implies expected upside of 40% to last night's close. Square stock started 2019 off gangbusters, racing past the $80 level by Marc...Read More
A rally continuation is likely after a small consolidation.Sentiment turned bullish quickly.The entire precious metals complex looks bullish from a technical and behavioural angle.Gold delivered a magnificent rally over the course of the last month. It performed slightly more than 10% during this short period of time. The party is probably not over yet. Some follow-through on the upside is likely....Read More
The brokerage firm lifted its rating on the Dow stock to "buy"Goldman Sachs upgraded Procter & Gamble Co (NYSE:PG) stock to "buy" from "neutral," and lifted its price target to $125 from $114 -- a nearly 14% premium to last night's close. The brokerage firm said this next year will "mark a turn in [PG's] margin profile and profit growth as relative organic strength sustains," and that it "offers i...Read More
You may know me as the……guy.The guy using the planets of an imaginary gold sector Macrocosm with proper fundamentals that are decidedly not imaginary but rather, are necessary to call a real bull phase or even bull market. By managing a strict set of macro and sector fundamental inputs (to the sound of crickets and little else in the sector) NFTRH and its subscribers had a front row...Read More
US banks received mostly positive reviews with their stress testsStock futures are trading sharply higher this morning, as eyes turn to the G-20 summit in Japan, where President Donald Trump will meet Chinese President Xi Jinping on Saturday. Bank stocks look to be in for a strong session thanks to mostly positive marks following the Fed's annual stress tests, and traders are also considering earn...Read More
The series of higher oil prices appears to be over as today, we might seethe bulls’ power tested. Where can the bears aim realistically and what is mostlikely to happen next? These are certainly valid questions as the oil price hasreached an important resistance and appears hesitating today. Will somegeopolitical news come to the rescue? High time to dive in... Let’s take a closer loo...Read More
What a week! On Tuesday, gold prices hit a six-year peak of almost $1,440. But they declined since then to almost $1,400. What is happening? We got the Fed speaking… Let’s dive in to the implications of what has been said.Rally in Gold EndsAs we reported two days ago, the price of gold has jumped above $1,430 after the dovish FOMC meeting last week. However, the rally did not last lon...Read More
Quitea few journalists wrote about gold’s breakout in the previous days even thoughgold made an attempt to break above the key resistance – the mid-2013 high –only today (and it failed). At the same time, when the gold to silver ratio wasbreaking out in a clear way, many journalists ignored that and emphasized theimportance of the resistance at hand. Either way, the focus was not...Read More
Activist shareholders John Paulson and John Hathaway will demand performance or a sale of the company.Stock price has gone nowhere the past 5 years under previous management.New CEO experienced in driving down production costs.Stock price has surged 59% from $7.82 on Dec. 19 announcement of new board members to $12.44 (today).Detour Gold (OTCPK:DRGDF) stock price has gone nowhere fast under the pr...Read More
Open interest in Gold futures on the COMEX bottomed at 430k contracts on April 30.From a technical perspective, Gold is clearly extremely overbought according to several indicators and across multiple time frames.Silver is likely to fall too, but I expect it to outperform Gold both on the upside and the downside given its superior technicals, sentiment, and positioning data.By David Brady, CFA Ope...Read More
Treatment charges (TCs) on copper concentrates are marginally lower this week because of further aggressive bids from traders on third-quarter tonnages despite fresh spot supply from the Cobre Panama greenfield project.Fastmarkets' Asia-Pacific TC/RC index dropped to $52.4 per tonne/5.24 cents per lb on Friday June 28, its lowest since the index was launched in June 2013. It was $53.5 per tonne/5....Read More
A major breakdown is in progress for the USDollar index. It has broken its intermediate uptrend which began in April 2018. Eighteen months of official rate hikes and tremendous hidden activity with derivative bond purchases, which obscure the absent USTreasury Bond buyers, have finally weighed on the King Dollar. The USEconomy suffers from 20 key breakdown signals, about which the lapdog press r...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 298,10861,55459,841160,228420,378518,177541,773 Change from Prior Reporting Period 23,475-8,7563,18618,23554,53044,89648,960 Traders 20775745660287189 Small Speculators LongShortOpen Interest 59,42835,832577,605 7,0733,00951,969 non reportable positionsCh...Read More
The gold miners' stocks just blasted higher to a major decisive breakout this week! Driven by gold's own huge bull-market breakout, the gold stocks surged well above vexing years-old upper resistance. The resulting new multi-year highs are a game changer, starting to shift long-apathetic sector sentiment back towards bullish. This will increasingly attract back traders, with their buying u...Read More
- Gary Tanashian, NFTRHYou may know me as the......guy.The guy using the planets of an imaginary gold sector Macrocosm with proper fundamentals that are decidedly not imaginary but rather, are necessary to call a real bull phase or even bull market. By managing a strict set of macro and sector fundamental inputs (to the sound of crickets and little else in the sector) NFTRH and its subscribe...Read More
By Avi GilburtThis article was first published on Sat Jun 22 for members of ElliottWaveTrader.net: With the break out we experienced this past week in GDX and GLD, it has certainly placed a bullish spin on the complex. And, while it was a very difficult 3-year wait, which has likely chased out many an investor due to frustration, the market looks like it will reward those with patience.Yet...Read More
By: Ira EpsteinGold technical update -- preparing for the G20, China and more:Read More