ZM short sellers can't be happy with today's breakoutSchaeffer's Senior Options Strategist Tony Venosa, CMT is taking a look at the shares of Zoom Video Communications Inc (NASDAQ:ZM) ahead of the company's earnings release next Wednesday, March 4. Venosa pointed out that ZM stock recently moved past the 50% year-to-date level, and is now testing a region on the charts near $36 that is equal to t...Read More

Deutsche Bank cut its price target on Foot Locker to $55 from $59Foot Locker Inc (NYSE:FL) is selling off today,following a price-target cut from Deutsche Bank. The analyst cut its estimate to $55 from $59 early this morning, which has sent FL down 3.2% to trade at $37.62, on pace for its lowest close since early September. This comes right ahead of the retailers fourth-quarter earnings report, sl...Read More

Both stocks are selling off with the broad market todayThe20 stocks listed in the table below have attracted the highest weekly options volume during the past 10 trading days, with data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. The stocks highlighted in yellow are new to the list. Below, we're going to take a closer look at ride-sharing startups Lyft Inc (NASDAQ:LYFT) and...Read More

Dine Brands posted fourth-quarter earnings that exceeded analysts' estimates The shares of Dine Brands Global Inc (NYSE:DIN) are bucking the broadmarket trend, and earlier surged to a four-year high of $104.46, following this morning's fourth-quarter earnings release. The Applebee's parent posted profits of $1.78 per share, which beat analyst's expectations, brushing off its revenue miss of $227.5...Read More

Cases of the coronavirus are rapidly spreading outside of Asia The Dow Jones Industrial Average (DJI) is eyeing its biggest one-day drop in months at midday, off over 800 points, as anxieties surrounding the coronavirus spike over reports of cases spreading outside of China at an alarmingly rapid pace. The Nasdaq Composite (IXIC) isn't far behind, struggling as the semiconductor sector and Apple...Read More

KDP remains above its year-to-date breakeven pointShares of k-cup maker Keurig Dr Pepper Inc (NYSE:KDP) are slightly lower amid the broad market sell-off this morning, down 1% at $29.22, at last check. However, the equity has landed a fresh upgrade out of Morgan Stanley to "equal weight" from "underweight," alongside a price-target hike to $29 from $28. There looks to be room for even more upgra...Read More

INTU is on track for its worst day since late 2018When we last checked in with Intuit Inc. (NASDAQ:INTU), the software concern was gearing up for a historically bullish first quarter. Today, Intuit is in the headlines after the Wall Street Journal reported over the weekend that the TurboTax maker was nearing a $7 billion agreement to buy personal finance program Credit Karma. The deal could become...Read More

Silver is still in consolidation mode since early September, but it appears ready to rally over a sustained period of time.On the chart there appears to have formed some fractals. The current one has also broken out at the black line recently (just after point C).As expected, price survived the test of the 50-day moving average, and is looking really bullish. If the comparison remains valid, then...Read More

By: Gary SavageGeneral market updates on today's big down-move. This video update includes: $ES, $AAPL, $COMPRead More

"Explosive growth of shadow banking was about the invisible hand having a party, a non-regulated drinking party, with rating agencies handing out fake IDs." Paul McCulley, economist, bond investor, PIMCO; coined "shadow banking" in 2007, The New York Times 4/6/2010; b. 1957 "If you are ready to give up everything else to study the whole history of the market as carefully as a medical student st...Read More

Cargill will release a line of plant-based faux-meat products in April Beyond Meat Inc (NASDAQ:BYND) is spiraling today, down 5.8% to trade at $110.50 following on news that privately held food producer Cargill will launch a line of faux meat products and hamburger patties in April of this year. The company aims to be a direct competitor to Beyond Meat and its sector peer Impossible Foods by offer...Read More

Clive MaundIf you are wondering why gold is starting to accelerate away to the upside, you need look no farther than the following amazing chart forwarded to me by reader Larry Fike, which Larry has kindly given me permission to reproduce in this update...Click on chart to popup a larger, clearer version.Chart courtesy of Larry FikeThe chart speaks for itself and requires little additional comme...Read More

Now that we are hearing stories about the viral threat of superspreaders, of deepening economic paralysis around the world, and how it could take 18 months to produce a vaccine, investors' show of bravado in recent weeks seems to have melted away. Shares got hit across-the-board on Thursday and Friday, and if investors know what's good for them they'll pound the bejeezus out of them this week. A...Read More

Gold April reached a high of $1684.10 early morning (at New Zealand open). Silver march reached at high of $1879.50. Copper march fell to a low of $256.50. Crude oil fell to a low of $51.66. Early morning high (just after New Zealand open) can be fake or just stop loss hitting price moves. No doubt the trend for gold and silver is bullish. BUT still they have to break and trade over early mornin...Read More

$500 billion. This is the sum the Fed has already pumped into the repo market since the crisis there started. On September 17, 2019, the secured overnight funding rate – a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities, based on the repurchase transactions – more than doubled, as the chart below shows, while the intraday range jumped to abou...Read More

Stocks are getting rocked in pre-market tradingDow Jones Industrial Average (DJI) futures are pointing to a massive pullback in stocks this morning, as the blue-chip index eyes a nearly 800-point sell-off at the open. The tech sector is set to get hit the hardest due to fresh coronavirus headwinds, with the number of cases growing substantially around the globe. This is setting up equities for one...Read More

The QQQ is approaching a key area that could indicate a top A general area that could act as a speed bump on $SPX is 3,335, which is 5 x's '09 low at 666.79. Double the low was a year-long challenge in '11-'12 and there was major sideways movement for months around triple the low in '14-'15- Todd Salamone (@toddsalamone) January 24, 2020Late last month, I observed both on Twitter and in this spac...Read More

Ladies and Gentleman, gold has overcome yet another barrier, jumping above $1,600 amid the fresh FOMC minutes and the renewed fears about the coronavirus economic consequences. What’s next for the yellow metal?Fed More Optimistic about Global EconomyGold bulls can be happy. As the chart below shows, the yellow metal has jumped above $1,600 amid the FOMC minutes and concerns about the coronav...Read More

The Egyptian Administrative Court will make a ruling on billet and rebar import duties on May 23, after a number of domestic rebar re-rollers appealed to have them removed, market participants told Fastmarkets on Monday February 24.The Egyptian Ministry of Trade & Industry announced definitive import duties on steel billet, rebar and wire rod on October 10 last year. The definitive safeguard duty...Read More

Dexin Steel Indonesia will fire up its first blast furnace on Friday February 21, an industry source told Fastmarkets.Owned by China's Delong Holdings, the mill in Central Sulawesi province's Indonesia Morowali Industrial Park, will have a total production capacity of 3.5 million tonnes per...Read More