By: IRA EPSTEINBig volatility can create no volatility for a while, everyone worn out. Gold in a correction phase, nothing bearish looking on the weekly chart.Read More
Gap said it will separate from its Old Navy businessThe shares of Gap Inc (NYSE:GPS) are up nearly 17% at $29.68 in this morning's trading, pacing toward their biggest one-day gain since Nov. 21, 2008, when they popped 27.2%. The surge comes after the company reported a fourth-quarter earnings beat -- though revenue fell slightly short of the consensus estimate -- and revealed plans to spin off i...Read More
Ahead of Fastmarkets' Battery Materials 2019 conference in Shanghai, Fastmarkets looks at use of lithium in next-generation vehicles and other battery uses, as well as soaring prices, which have spurred interest in lithium and boosted its importance in recent years as a battery material. In June 2016, the spot price in China peaked at $27 per kg, more than three times the global contract price, ac...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
VMW had only three negative closes in FebruaryVMware, Inc. (NYSE:VMW) is a hot stock on Wall Street right now. The security is up 5.5% to trade at $181.25, and earlier nabbed a fresh record high of $183.41, afterthe virutalization name reported fourth-quarter earnings and revenue that exceeded analyst expectations. Six price-target hikes have already come in, including one to $203 from $196 at Jef...Read More
Gold's rally has eased somewhat so far in February after a strong January.Net long positions in Comex gold are a little down in the year to February 12, the CFTC shows.ETF investors took profit for a third straight week.With the US business cycle approaching its end (~90% complete, according to SG), monetary demand for gold should increase notably in the course of 2019. Cycle 2, Bac Cam (Saatchi A...Read More
The biotech is pacing for its best day in yearsThe shares of Puma Biotechnology Inc (NASDAQ:PBYI) are up 40% at $39.10 in early trading, after the drugmaker announced better-than-expected revenue for the fourth quarter. The company also reported sales of its breast cancer drug, Nerlynx, that beat analysts' expectations. The stock is now pacing for its best day since July 2014. Today's pop could...Read More
The passage of Bill C-45 could be a signal to early investors that pot stocks are ready to pop.With Bill C-45 now in effect, it's possible that in the very near future, investors may be seeing stock market gains that will never be seen again. This is a sentiment echoed by The New York Times, which reported that when this bill passes as expected, it will "completely legalize marijuana as a consu...Read More
Section 232 tariffs on aluminium and steel raised $3.6 billion in their first nine months, and revenues for the last two months are likely to push that figure up by around another $1 billion, US government data shows.That figure would be enough to cover the shortfall in funding sought by United States President Donald Trump for border security. In other words, aluminium and steel tariffs could fun...Read More
Crude oil made yesterday another hesitant move higher. Also yesterday, we mentioned here the saying regarding gravity. Sometimes, it takes patience for the underlying forces to win out. Or, doesn't the oil market rather remind you more of a coiled spring actually? Accordingly, what is the position favored most by the odds right now?Let's take a closer look at the charts below (charts courtesy of h...Read More
Gold broke through a mid-term trend support.The precious metal is approaching an important resistance, which capped its upside repeatedly during the past few years.A 5-7% correction is likely before the gold rally continues to the upside.We have published two articles on gold on this website during the past half year. The first concluded on November 1st, 2018, that gold appears to be an attractive...Read More
One of gold's most followed moving averages is about to be tested.Bullion demand and neutral dollar favor gold's intermediate-term trend.Bitcoin is also drawing some attention away from gold, which is good.Gold is on the verge of testing the strength of one of its most widely watched trend lines. Once the gold price comes into contact with this trend line, the 50-day moving average, it wil...Read More
Solid gains since December 2018 may deter investors from considering a holding in gold at this time, but the upwards trend is likely to continue, and downside risk is low.Our proprietary signal has a good track record and is positive, while speculative activity foresees no imminent reversal. Historical articles on Seeking Alpha indicate that a reversal would be identifiable.Our view is that holdi...Read More
Copper-starved LME warehouses could receive a long-awaited influx of metal from an unexpected source, Fastmarkets has learned.Smelters in China, the world's largest copper consuming country, are said to have been exporting tens of thousands of tonnes of cathodes into Shanghai's bonded warehouses over the past two weeks before shipping further afield.Three individual plants have exported at least 7...Read More
Copper premiums basis cif Shanghai could fall further even after a recent collapse, Shanghai market participants told Fastmarkets. Copper cathode premiums are being pressured lower due to a steep backwardation in the London Metal Exchange cash/three-month forward spread of more than $40 per tonne as well as sluggish end-user demand in China. Fastmarkets assessed the grade A copper cathode pre...Read More
Since the summer of 2013, gold has largely remained in a tight price channel between 1,100 and 1,380.It also couldn't get any traction to the upside because the Fed was the least dovish of the world's big three central banks and the dollar was strong on a relative basis.The best case for gold would be if the Fed moved toward easing solely because of a weakening U.S. economy.By Jim Iuorio A...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Friday March 1, with a continued trend of record-low inventories failing to spur persistent price rallies amid broad strength in the US dollar index. Both copper and nickel futures remain well supported, while volumes were moderate over the afternoon, with copper leading the complex at 19,890 lots changing hands...Read More
The London Metal Exchange has released its pricing procedures and methodologies for the scheduled release of its cash-settled futures contracts on March 11, highlighting methods in which the bourse will determine daily settlement prices. In its note to members on Friday March 1, the LME lists select specifications for each of the contracts inclusive of currency, lot size and trading time, while it...Read More
Copper-starved LME warehouses could receive a long-awaited influx of metal from an unexpected source, Fastmarkets has learned.Smelters in China, the world's largest copper consuming country, are said to have been exporting tens of thousands of tonnes of cathodes into Shanghai's bonded warehouses over the past two weeks before shipping further afield.Three individual plants have exported at least 7...Read More
The Indian government's plans of hitting 300 million tonnes of steel capacity by 2030 sounds overambitious in the current scenario given that output only managed to reach the 101 million tonne mark in 2017 - indicating three-fold (Read More