A short squeeze could power additional gainsThe last time we covered Signet Jewelers Ltd. (NYSE:SIG), the jewelry retailer was enjoying a post-earnings breakout. A little more than a month later, the stock is in focus again, this time for its recent encounter with a historically bullish trendline.Specifically, according to Schaeffer's Senior Quantitative Analyst Rock White, Signet stock has recent...Read More
The "phase one" trade deal will reportedly be inked later this weekWith the signing of the "phase one" trade deal apparently just days away, the Dow Jones Industrial Average (DJI) is continuing its climb midday. The blue chip index is joined in positive territory by the S&P 500 Index (SPX) and Nasdaq Composite (IXIC), though upside has been fairly limited overall. Meanwhile, February-dated cru...Read More
The $138 region in general could be problematicIBM Corp (NYSE:IBM) shares are trading lower today, down 0.8% at $135.52, following a downgrade out of Evercore ISI. The brokerage firm dropped its rating to "in line" from "outperform," while reducing its price target to $145 from $160. This stacks up with what most of the Street already thinks of IBM, since the majority of covering analysts already...Read More
EXAS was overbought heading into today, tooThe shares of EXACT Sciences Corporation (NASDAQ:EXAS) are down 11.4% to trade at $92.52 this morning, after the molecular diagnostics specialist gave its preliminary fourth-quarter revenue results. The company expects to report revenue between $294 million and $296 million for the fourth quarter, and with the stock landing on the short-sale restricted l...Read More
By: Gary SavageAnother secular bull market in gold underway. Long basing phase is over, lots of volatility back and forth.. 7 minute long video with long-term gold chart view.https://blog.smartmoneytrackerpremium.com/Read More
Lululemon lifted its fourth-quarter sales and profit forecast Lululemon Athletica Inc (NASDAQ:LULU) stock is up 2.6% before the open, after the firm lifted its fourth-quarter sales and profit forecast on the heels of a strong holiday sales report. LULU lifted its revenue forecast to a range of $1.37 billion to $1.38 billion, and its earnings to $2.22 to $2.25 per share. On the charts, LULU has to...Read More
Clive MaundIt has been a week of surprises since the last updates were posted. First, I had not expected Iran to retaliate following the murder of its top General by a US drone, but it did, despite the risks, as it was politically necessary to assuage the extreme anger of its population who demanded revenge. The next surprise was that Israel and the US did not use this retaliation as an excuse t...Read More
Everyone seems to be focused on Gold recently and seems to be ignoring the real upside potential in Silver. With all the global economic issues, military tensions, geopolitical issues, and other items continually pushed into the news cycles, it is easy to understand why traders and investors may be ignoring Silver.Silver has really not started to move likethe other precious metals. Gol...Read More
Bulls are gearing up for the U.S.-China trade deal signing this weekU.S. stock futures are signaling a bullish start to the week. Coming off Friday's dip, the Dow Jones Industrial Average (DJI) is setting up for a triple-digit gain at the open, while the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) look ready to follow suit. The risk-on backdrop comes as investors look toward the signing of the...Read More
Ukrainian steel billet producer Dneprovskiy Dzerzhinsky Metallurgical Plant (DMKD) has restarted its 900,000-tonnes-per-year No12 blast furnace at its steelmaking facility in the port city of Kamianske on the Dneiper river.Trial pig iron production was started at the end of 2019 and normal operations resumed on Saturday January 4, the company said on January 10. Currently, the daily...Read More
It shouldn’t be a surprise to anyone, because it has happened before.Gold’s quick roundtrip from $1540 to $1610 and back again ($1539 earlier today) had its roots in actions and words between the United States and Iran. Prognosticators say there is more to come. Maybe; maybe not. But there is historical precedent for gold’s action. “In late 1990, there was a good deal of s...Read More
Eastern China's Shagang has cut the prices for its long steel products booked over the January 11-20 period, according to a company announcement on Saturday January 11.HRB400 rebar (16-25mm): 3,880 yuan ($561) per tonne, down by 80...Read More
The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.The WTO panel findings included the fact that Morocco failed to conclude its investigation within the 18-month maximum time limit and failed to inform all interested parties...Read More
Hot-rolled coil prices in the United States rose on Monday January 13, with buyers accepting a greater amount of the combined five price increases domestic mills have announced since October.Fastmarkets' daily hot-rolled coil index, fob mill US was calculated at $30.75 per hundredweight ($615 per short ton) on Monday, up by 1.2% from $30.38 per cwt on Friday January 10. Sources reported lead times...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Monday January 13, settling at a nine-month high against moderate volumes traded, while aluminium futures stagnated despite tumbling exchange stocks.Copper's underlying price on the LME closed at $6,290 per tonne on Monday afternoon, its highest settlement price since April 2019, while its daily trading...Read More
By: Gary SavageAnother secular bull market in gold underway. Long basing phase is over, lots of volatility back and forth.. 7 minute long video with long-term gold chart view.https://blog.smartmoneytrackerpremium.com/Read More
"Advice is what we ask for when we already know the answer but wish we didn't." Erica Jong, American novelist, satirist, poet; b. 1942 "To different minds, the same world is a hell, and a heaven." Ralph Waldo Emerson, American essayist, poet, lecturer, philosopher; 1803-1882 "The task of beating the market is not difficult. It is the job of beating ourselves that proves overwhelming." Martin P...Read More
StrengthsThe best performing metal this week was palladium, up 6.48 percent, notching its best weekly advance since June. While global car sales are weak, loadings for their catalytic converters are going up with regulatory requirements. Gold traders and analysts were spilt on their outlook for the yellow metal next week after this week saw big price swings due to U.S.-Iran tensions escalati...Read More
Clive MaundIt has been a week of surprises since the last updates were posted. First, I had not expected Iran to retaliate following the murder of its top General by a US drone, but it did, despite the risks, as it was politically necessary to assuage the extreme anger of its population who demanded revenge. The next surprise was that Israel and the US did not use this retaliation as an excuse t...Read More
Seaborne manganese ore prices in China moved in opposing directions for different grades in the week ending Friday January 10, with low-grade ore showing further minor rises, while high-grade ore softened amid falls in portside prices.Fastmarkets' manganese ore index 37% Mn, cif Tianjin, climbed week on week to $4.18 per dry metric tonne unit (dmtu) on January 10, up by 5 cents per dmtu.The corres...Read More