H.C. Wainwright initiated coverage on Matinas and Acasti with a "buy" ratingH.C. Wainwright just initiated coverage on biotechs Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) and Acasti Pharma Inc (NASDAQ:ACST) starting both with "buy" ratings and a $4 and $6 price targets, respectively -- a roughly 400% premium to each stock's close last night. The firm said it based its coverage on a 100-ph...Read More
Merck and Johnson & Johnson are the two worst Dow stocks at middayThe Dow Jones Industrial Average (DJI) jumped triple digits out of the gate on upbeat trade comments from U.S. Treasury Secretary Steven Mnuchin, but has since pared these gains on headwinds from pharma stocks Merck (MRK) and Johnson & Johnson (JNJ). The Dow is still above water, while the S&P 500 Index (SPX) and Nasdaq Composite (I...Read More
A while ago, I wrote about a comingconfirmation of the multi-year gold bull market. It has taken longer thanexpected, but that signal has now arrived, and the bull is very much confirmed.Here is a gold chart indicating that veryimportant signal I have marked two fractals (patterns) 1to 5, to show how they might be similar. I have also marked the point whereinterest rates peaked (in 1981), and wher...Read More
One pharma stock has ended July higher 100% of the time in the past 10 yearsJune has been a banner month for the U.S. stock market, with the S&P 500 Index (SPX) on pace for its best month since January, and assailing fresh all-time highs. What's more, several stocks could extend their summer gains into July and the third quarter, if recent history is any guide. Among the equities that tend to heat...Read More
The weekly price for rebar produced and delivered in Northern Europe remained unchanged on Wednesday, June 26,, as mills maintained price levels ahead of the renewal of EU import quotas on July 1, sources told Fastmarkets.Market activity was "a little quiet this week, and we haven't sold much material in Northern Europe," one European producer source said.Fastmarkets' weekly price assessment...Read More
There's been upside call buying on EBAYJust this morning eBay Inc (NASDAQ:EBAY) announced it would hold a "crash sale" on July 15 in the annual attempt to compete with Amazon.com's (AMZN) Prime Day, which this year will actually be two days, spanning July 15 and 16. This comes as EBAY stock has rallied to fresh high, hitting a 52-week peak of $40.55 last week, while it sports a year-to-date lead o...Read More
MU is pacing for its best day in yearsThe shares of chipmaker Micron Technology, Inc. (NASDAQ:MU) are soaring in early trading, up 11.7% at $36.50, after the firm announced fiscal third-quarter earnings and revenue that exceeded expectations. Micron also forecast a recovery in chip demand later this year, and said it had begun "lawfully" shipping a subset of products to China's Huawei once again,...Read More
Wayfair stock may be ripe for a short squeezeAs criticism mounts over the state of U.S. migrant camps, furniture firm Wayfair Inc (NASDAQ:W) has found itself in the middle of it. Today, hundreds of employees are planning a walkout after the retailer allegedly sold $200,000 in bedroom furniture to a Texas detention facility for migrant children.A Twitter account called "Wayfairwalkout" was create...Read More
The shares suffered their worst day in years on WednesdayAcer Therapeutics Inc (NASDAQ:ACER) plunged 78.6% yesterday -- its worst session since September 2008 -- after the Food and Drug Administration (FDA) failed to approve the firm's rare genetic disorder treatment, requesting new clinical data. ACER shares are lower again today, last seen down 4.6% at $3.93, as bearish analysts blast the crumbl...Read More
A casual glance at the latest short term chart for GLD would tend to support the notion that, yes, gold has decidedly broken out of its trading range and is headed higher.Below is a two-year chart of GLD (bigcharts.marketwatch.com) … Now that we are all on the same page, let’s step back a moment and ask a couple of questions. What happens next? And, if this is “the big on...Read More
Prices for rebar produced and delivered in Southern Europe weakened this week as domestic mills lowered their offers ahead of an expected influx of imports in July, sources told Fastmarkets on Wednesday June 26.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?490-500 ($558-569) per tonne delivered on Wednesday, down ?,?5-15 per tonne week on week from ?,?495-5...Read More
Turkey produced 14.297 million tonnes of crude steel in January-May 2019, down 9.97% from the 15.880 million tonnes produced in the first three months of 2018, according to the Turkish Steel Producers Association (T???oeD).The fall in output was largely due to the negative sentiment that has been dominating Turkey's domestic steel market since August last year, when the country's lira lost signifi...Read More
FDX and MU shares are on the rise post-earningsStock futures are trading higher this morning, trying to bounce back after a Fed-induced drop. Behind the risk-on approach are comments from Treasury Secretary Steven Mnuchin, who told CNBC a U.S.-China trade deal was "90% of the way there," and that he believes President Donald Trump and Chinese President Xi Jinping can make progress when they meet t...Read More
- Stewart Thomson 1. To view what may be the most important chart in the history of markets, please click here now. Double-click to enlarge. Gold is breaking out of a massive inverse H&S bull continuation pattern, and that pattern itself may be the head of an even more massive pattern that targets the $3000 price area.2. Please click here now. Double-click to enlarge this...Read More
- Richard (Rick) Mills North American stock markets continued to rise on Friday, as more investors took the opportunity to jump into equities on the back of a clear signal from the US Federal Reserve that interest rates are likely heading down. The S&P 500 hit a new record on Thursday, finishing 249 points higher, or 0.9%, to 2,954. The Federal Open Market Committee (FOMC) concluded on Wedne...Read More
- Gary ChristensonEvery 30 - 40 years the world goes crazy, takes a deep dive into a shallow pond, dances with the devil, and resets gold internationally.In 1913:A corrupt congress created the Federal Reserve and reset gold's status. Paper currency units (bad money) eventually drove gold (good money) out of the financial system. Add WWI, the IRS, and League of Nations.In 1944 - 1949:The Bretto...Read More
- Dave KranzlerShort of a raid orchestrated by the central planners to fasten tighter the cap on gold (which remains a real possibility given the historical record), the yellow metal shouldn't encounter much price resistance until above $1,500/oz. - Adam Taggart, Peak ProsperityI agree with the statement above from Adam Taggart but an aggressive price attack by the banks who operate the Com...Read More
By: Ira EpsteinGold technical price update - GDX showing weakness, a key reversal:Read More
By Avi GilburtIf you have followed us since December 2018, then you know we were expecting a major bottom in the cryptocurrency market, and expecting 2019 to be very bullish. In February we wrote an article suggesting an imminent wave two bottom, which proved correct, holding support by $10 on some exchanges.We suggested then that a third wave would commence, thrusting Bitcoin prices much higher...Read More
Bitcoin's impressive rise from the dead has hit 11,467 today, exactly two-tenths of a percentage point from the 11492 target I sent out to Rick's Picks subscribers a few weeks ago. There is further potential to 19,850 if certain conditions are met. Let me show you what to look for.Read More