Crude oil futures moved higher onceagain during yesterday’s session, overcoming the upper border of the risinggreen trend channel for the third time in a row. While the futures finished theday above this resistance, the bulls didn’t manage tohold gained ground in full.Earlier today, the futures opened withthe red gap. This bearish development means invalidation of yesterday’sbrea...Read More
3M stock is continuing its breakout above $175Manufacturing name 3M Co (NYSE:MMM) is enjoying a 0.9% lift this morning -- a reaction to the surprise bull note out of J.P. Morgan Securities. The firm upgraded MMM to "neutral" from "underweight," and hiked its price target to $150 from $143, though this still represents a 14% downside to Friday's close. Despite being in the midst of a lawsuit regar...Read More
Weekly call traders could be playing today's rallyJD.Com Inc (NASDAQ:JD) is up 3.8% this morning at $36.65, thanks to a Reuters report indicating the company is exploring an overseas initial public offering (IPO) for its logistics business. According to the article, the IPO could raise between $8 billion to $10 billion -- which equates to roughly one-fifth of JD's market cap -- and the proceeds co...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12December 23, 2019 "Gold is money. Everything else is credit." J.P. Morgan, American financier, banker, dominated corporate finance on Wall Street during the Gilded Age; 1837-1913 "Because gold is honest mo...Read More
By: Gary SavageGold is churning, not doing a whole lot of damage, except to gold investors' mental state. We are now 3 1/2 months into the sideways churn. A market bouncing back and forth from overbought and oversold...http://blog.smartmoneytrackerpremium.com/Read More
By: Ira EpsteinGold has a bullish and negative bias -- what's next for gold this holiday week:Read More
Friday's subdued rally had more than a faint whiff of distribution about it. DaBoyz had shorts on the run in the early going, with the Dow up about 230 points in the first hour. But instead of reaming bears a new orifice as we might have expected, the erstwhile Masters of the Universe struggled merely to maintain altitude and eventually had to close the broad averages well off their intraday h...Read More
Look for signs of profit taking in all metals and energies as traders leave for Christmas and New Year vacations. China will lower trade tariff on a host of products ranging from pork to some type of semi-conductor. Gold and silver should fall as a result of Chinese move. Right now gold and silver are firm due to Trump and his impeachment. But they will be vulnerable to sharp correction any time...Read More
All three benchmarks are entering the holiday week red-hotFresh off a record-setting week, Dow Jones Industrial Average (DJI) futures are trending higher yet again. Fueling this morning's risk-on approach are trade tailwinds out of China, after the country's finance ministry announced it will reduce import tariffs on a number of goods starting in January. This comes after President Donald Trump...Read More
The European Commission (EC) is planning to again review its safeguard measures for hot-dipped galvanized (HDG) flat steel destined for the automotive sector, market sources told Fastmarkets this week.In the definitive measures for metallic-coated sheets (product category 4), the EC split the product category into two sub-categories, 4A and 4B, with the automotive sector mainly consuming...Read More
Mattress stuffers or bullion holders? Who fares better in a crisis? North American investors are divided between those who believe the decade-long stock market bull is going to keep running into the 2020s, and investors who, wary of something terrible happening, are hoarding cash and gold. The hopeful and the fearful The beacon hopeful investors are following is best symbolized by...Read More
Overcapacity in the global steel sector has been an issue for many years, but has intensified in the recent years, according to Ankur Dana, chief executive officer of Dubai-based multinational Dana Group .Global overcapacity causes steel prices to fall, so governments should only approve new capacities if there is need, Dana said at Fastmarkets' Middle East Iron and Steel Conference in Dubai on De...Read More
We continue to monitor short interest levels, as well "In two operations in the form of repurchase agreements, or repos, the Fed injected $26.25 billion in overnight liquidity and about $31.27 billion in 14-day liquidity...Since the large interventions started, money-market rates have calmed." -- The Wall Street Journal, December 19, 2019"Senate passes spending bills to avo...Read More
One of the main challenges facing the Middle East steel sector is a lack of protection in an industry where protectionism is increasing, according to Abu Bucker Husain, chief executive officer of United Arab Emirates-based galvanized coil producer Al Ghurair Iron and Steel.North America, South America, Europe and Asia have taken protectionist measures to curtail imports, and this opens up the Midd...Read More
Prices for steel billet increased in many buying regions and remained steady in most other regions due to continued strength in ferrous scrap prices, although billet buying activity started to diminish last week ahead of year-end holidays and few trades were made.Global scrap prices continued to climb despite limited volumes being traded. Fastmarkets' daily index for steel scrap HMS 1&2...Read More
The European Commission (EC) is planning to again review its safeguard measures for hot-dipped galvanized (HDG) flat steel destined for the automotive sector, market sources told Fastmarkets this week.In the definitive measures for metallic-coated sheets (product category 4), the EC split the product category into two sub-categories, 4A and 4B, with the automotive sector mainly consuming...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12December 23, 2019 "Gold is money. Everything else is credit." J.P. Morgan, American financier, banker, dominated corporate finance on Wall Street during the Gilded Age; 1837-1913 "Because gold is honest mo...Read More
VANCOUVER, British Columbia, Dec. 23, 2019 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (FSM) (FVI.TO) is pleased to provide an update on construction, pre-commissioning and commissioning activities at its 100 percent owned Lindero gold Project located in the Province of Salta, Argentina.Jorge A. Ganoza, President, CEO and Director, commented, "Minor delays and unavailability of vendors due t...Read More
By: Gary SavageGold is churning, not doing a whole lot of damage, except to gold investors' mental state. We are now 3 1/2 months into the sideways churn. A market bouncing back and forth from overbought and oversold...http://blog.smartmoneytrackerpremium.com/Read More
By: Ira EpsteinGold has a bullish and negative bias -- what's next for gold this holiday week:Read More