Best Buy gave strong guidance for the holiday shopping season The shares of electronics retailer Best Buy Co Inc (NYSE:BBY) are up 5.9% to trade at $78.59 this morning, after the company posted a same-store sales beat and profit that exceeded expectations for its third quarter. The company also said it anticipated a strong holiday shopping season, predicting a fourth-quarter profit that topped ana...Read More
ACAD's pimavanserin showed mixed results in the trialIt's been a huge year for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), thanks to positive updates for its drugs Nuplazid and pimavanserin, the latter of which again has the pharma name in focus. The company yesterday evening revealed mixed trial results for the drug for patients with negative symptoms of schizophrenia, with the treatment meeting i...Read More
Low prices fix low prices, and eventually the shorts will be forced to cover and buy back their shares and force prices higher. This sector is 'this close' to such and event.Both Hurst cycles and Wyckoff supply and demand action are warming up to the bullish side for the energy sector (XLE). This is on the back of growing inflation fears. Inflation sourced from wage growth in the US and world...Read More
By: David Chapman, Chief Strategist, Enriched Investing Inc. "History is a collection of agreed upon lies." Voltaire, French philosopher, writer, historian, advocate of free speech; 1694-1778 "Experience is helpful, but it is judgement that matters." General Colin Powell, Chairman Joint Chiefs 1989-1993, Secretary of State 2001-2005; b. 1937 "I'm very big on having clarified principles. I don...Read More
By: Ira EpsteinGold being weighed on by the general markets. The 100-d.ma. at $1,400 area, $1,445 Bollinger band support area -- oversold market with supports a bit below. Gold is a whipsaw market..Read More
If gold and silver fall today, they will crash. Inverse correlation between gold and crude oil will be there. I will prefer to call the current softer prices in gold and silver as just a correction and not even a short term bearish trend. Trend on or after second week of December will be the key not just for bullion but for currencies as well. Central banks from Europe have started increasing th...Read More
Stocks are tentatively higher following yesterday's record-breaking session Stock futures are muted this morning, with the Dow signaling a tentative 17-point gain at the openjust one day after the major U.S. equity indexes notched even more record highs. The quiet open comes as Dallas Fed President Robert Kaplan tells CNBC that the central bank is predicting "weak" economic growth for the U.S. in...Read More
The blue-chip index retreated from its 20% year-to-date return last weekWe're only a couple of weeks out from a commentary in this space dedicated to the steely significance of two "mega round" numbers for the S&P MidCap 400 Index (MID) -- namely, the 2,000 millennium level and its 20% year-to-date return. In the days since that column was published, these twin sticking points haven't wavered; aft...Read More
This analysis continues from part 1 (Silver Trend Forecast 2019 Update ).Gold Silver RatioThe Gold / Silver ratio has continued to trend lower, currently standing at 83.8, which implies to expect the Silver price to continue to out perform Gold over the coming months. So whilst Silver is no longer the SCREAMING BUY it was when trading at a ratio of 95, nevertheless is still CHEAP! Whilst we can d...Read More
TheUSD Index rallied on Friday, and gold responded with an intraday decline –that’s normal. What’s not necessarily normal is the size of the daily change ingold compared to the size of USD’s rally. USDIndex Bounces HigherNamely, goldfutures ended Friday’s session exactly where they had closed on Thursday. There was nodaily change in gold, even though it – theore...Read More
European central banks are slowly preparing for plan B: gold.Deutsche Bundesbank [CC BY-NC-ND 2.0 (https://creativecommons.org/licenses/by-nc-nd/2.0/)]Written by Jan Nieuwenhuijs, formerly known as Koos Jansen.It was long believed in the gold space that Western central banks are against gold, but things have changed, for quite some years now. Instead of discouraging people from buying gold, or...Read More
Daniel R. AmermanA new era began for us all in September and October of 2019, with the introduction of a new element that is likely to become one of the dominant investment market influences in the 2020s.What is shown in the orange area of the graph above is something brand new. When we understand why the Federal Reserve abruptly reversed course, created $280 billion in new money in two months a...Read More
By: David Chapman, Chief Strategist, Enriched Investing Inc. "History is a collection of agreed upon lies." Voltaire, French philosopher, writer, historian, advocate of free speech; 1694-1778 "Experience is helpful, but it is judgement that matters." General Colin Powell, Chairman Joint Chiefs 1989-1993, Secretary of State 2001-2005; b. 1937 "I'm very big on having clarified principles. I don...Read More
Keith Weiner, Monetary MetalsPhysics students study mechanical systems in which pulleys are massless and frictionless. Economics students study monetary systems in which rising prices are everywhere and always caused by rising quantity of currency. There is a similarity between this pair of assumptions. Both are facile. They oversimplify reality, and if one is not careful they can lead to spect...Read More
By Avi Gilburt, ElliottWaveTraderWith the latest news of Louis Bacon's closing down his hedge funds, we are seeing further evidence of the difficulties hedge funds have been having during recent years.But, if you think about the counter-intuitive nature of this trend, it is actually quite interesting. Let me take a step back and walk you through what I am thinking.For those that follow the mar...Read More
By: Ira EpsteinGold being weighed on by the general markets. The 100-d.ma. at $1,400 area, $1,445 Bollinger band support area -- oversold market with supports a bit below. Gold is a whipsaw market..Read More
If gold and silver fall today, they will crash. Inverse correlation between gold and crude oil will be there. I will prefer to call the current softer prices in gold and silver as just a correction and not even a short term bearish trend. Trend on or after second week of December will be the key not just for bullion but for currencies as well. Central banks from Europe have started increasing th...Read More
India's Supreme Court has approved ArcelorMittal's acquisition of Essar Steel, ending years of legal wrangles. "ArcelorMittal India Private Limited's (AMIPL) resolution plan for Essar Steel India Limited (ESIL) has been unconditionally approved by the Indian Supreme Court and is the final procedural step in ESIL's corporate insolvency process," the company said on November 18.Completion of the tra...Read More
The European Union has launched a complaint to the World Trade Organization (WTO) against Indonesian export restrictions on raw materials used in the production of stainless steel, the European Commission (EC) said on November 22.The EC claims that the restrictions unfairly limit European stainless steel producers' access to raw materials, including nickel as well as scrap, coal and coke, iron ore...Read More
Domestic prices for steel reinforcing bar in the United Arab Emirates increased over the past week due to strong demand, market sources said on Tuesday November 26.Further increases are expected due to global gains in production costs, market participants in the UAE said, adding that low stock levels in the country will spur more buying.Billet importsBillet was booked from Oman at about....Read More