Trump's assertions that he could wait on a trade deal with China dragged stocks lower todayConcerning comments from U.S. President Donald Trump that he may not be ready to make a trade deal with China until next year's election had the Dow continuing its slide today -- down 280 points for its biggest one-day dip since early October. A report also said the president is still planning on placing new...Read More
Delta's price action is hurting other airline stocks Looking across Wall Street today, two stocks making big moves are Delta Air Lines, Inc. (NYSE:DAL) and Lands' End, Inc. (NASDAQ:LE). For Delta, the shares are down 2.5% at $55.33, putting them back below the 50-day moving average, due to a poor load factor number from the company for November -- an update that's weighing on most other airline st...Read More
ETSY is continuing its recent downtrend on the chartsSmall business retail platform Etsy Inc (NASDAQ:ETSY) has vastly underperformed on the charts this year, with overhead pressure from the $60 ceiling in September and October preceding the shares' late-October post-earnings bear gap. With ETSY still trading in annual-low territory and down nearly 9% in 2019, now is the perfect time to buy puts.Ta...Read More
Uber stock just ran up to a historically bearish trendline It's been a pretty dismal first year as a publicly traded company from Uber Technologies Inc (NYSE:UBER). The stock has been on a choppy path downward ever since it hit a record high of $47.08 in June. In the past few months, the stock's 60-day moving average, and a disappointing third-quarter earnings report in early November, had UBER bo...Read More
Tech shares are pacing the market sell-offStocks are getting hammered again today, with the Dow Jones Industrial Average (DJI) dropping more than 400 points, to put it on pace for its worst day since early October. The selling comes after President Donald Trump suggested a trade deal with China may not happen until after the 2020 presidential election, while his tariff threats toward France are ap...Read More
Schaeffer's Senior V.P. of Research sat down for a long conversation on optionsSchaeffer's Senior V.P. of Research Todd Salamone just joined Ed Modla from the Options Clearing Corporation (OCC) on the Wide World of Options podcast. The main point of discussion was buying long call options, and the differences between buying options versus selling options.In their more than 40-minute talk, Todd bre...Read More
PLUG puts are a hot commodity todayPenny stock Plug Power Inc (NASDAQ:PLUG) is taking a hit today, down 12.2% to trade at $3.29. This comes in the wake of a public stock offering of 40 million shares, with the intention to use the proceeds to offset capital expenditures. With the stock landing on the short-sale restricted list this morning, options trading has ramped up.In just the first hour of...Read More
Peak open interest on LULU is in the weekly 12/6 seriesLululemon Athletica Inc. (NASDAQ:LULU) has had a great 2019, soaring 85.5% and hitting an all-time high of $229.65 last week before closing yesterday at $225.53. More bullish analyst attention is coming through on the outperforming retailer, and this matches the sentiment seen in the options pits, where traders have seemingly been betting on m...Read More
The offer means Astellas is buying Audentes for around $60 per shareGene therapy concern Audentes Therapeutics Inc (NASDAQ:BOLD) has more than doubled this morning, surging 104.9% to trade at $58.63, on news that Japan-based drugmaker Astellas Pharma is set to buy the company in a $3 billion cash deal. BMO and Wedbush both lifted their price targets to the per-share buyout price of $60 in response...Read More
LYFT has struggled since its March IPORide-hailing service Lyft Inc (NASDAQ:LYFT) is down 1.6% this morning at $46.63, sinking lower on the back of a late-night bear note from Piper Jaffray. Analyst Alexander Potter cut his price target by $19 to $60, though the adjustment still sits 26.6% above Monday night's close at $47.39. Potter also stated that LYFT has a "more believable path to profitabili...Read More
The White House is also wrestling with France on tariffsAfter the market kicked off December on a sour note, Dow futures are now staring at an over 200-point drop, pivoting away from earlier gains after President Donald Trump'sremarks at a London news conference. Speaking ahead of a NATO meeting, Trump's noted he "like[s] the idea of waiting until after the [2020] election for the China deal,"cast...Read More
Justwhen most traders thought that the previous week is going to end in the red forgold, something exceptional happened. The USD Index reversed after rallying,and gold rallied sharply in response. In the end, gold ended the week in thegreen by forming a clear weekly reversal. Thatwas actually the second weekly reversal that we saw recently. Why is thisimportant? Because of what happened shortly af...Read More
Stewart Thomson, Graceland Updates 1. While some analysts are getting a bit negative in their outlook for gold, the physical market is getting stronger and that's very good news for investors. 2. Please click here now. I predicted that Indian jewellers would step into the market in the $1465 area, and that has obviously occurred. 3. Given the onerous import duty, Nov...Read More
Dave Kranzler, Mining Stock JournalThe price of gold has held firm at the $1460 (front-month contract basis, not the Kitco "spot" price) level despite the constant price attacks that have been occurring overnight and into the Comex floor trading hours since early November.On an intra-day basis gold has managed to hold continuous aggressive attempts to push the price below $1460 for the last 6 tr...Read More
Stage is set for big rally in gold and silver unless various US November jobs numbers beat street expectation by a big margin. U.S. President Donald Trump announced tariffs on metal imports from Brazil and Argentina. USA has threatened to impose new tariffs on trade with the European Union after the World Trade Organization (WTO) ruled that the EU had not complied with an order to halt illegal s...Read More
Context is everything when it comes to the fear index, so watch this sentiment indicator carefullyThe notion of the Cboe Volatility Index (VIX) being "high" or "low" is, as you're likely aware, entirely a matter of context. During calendar years 2010 through 2016, the average daily VIX reading was 17.92 -- not sky-high by any means, but still a figure that would have seemed downright panicky durin...Read More
Crudeoil futures declined sharply on Friday. The steep slide’s result was a breakdown below the lower border ofthe rising green trend channel. As the prices closed the day below theformation, it’s clearly a bearish development. Despitethis setback, the bulls opened the week with a green gap, which has triggeredmodest improvement in the following hours. The bulls are fighting to invalid...Read More
Why Shale wasonce Viable at $45WTI but it’s not anymore. That’s why OPEC can dictate theprice again.Some shale operators now saythey can’t make money at $55; so they are cutting-back. But in 2017 when WTI averaged$50; output-growth was 60% higher than today. How come?In 2015, five-hundred frac-spreads,bought and paid for; some from profits, many at fire-sale; were idle; so day-ra...Read More
Weak demand conditions and lingering backwardations in London Metal Exchange spreads damped most regional P1020A premiums on Tuesday December 3, including the main Japanese ports (MJP) premium, which fell to an all-time low.MJP premium falls to all-time lowRotterdam premium ticks downward on LME backwardationsBrazil premiums soften on poor demandUS Midwest premium steady on holiday pause.MJP spot...Read More
Hot-rolled coil prices in the United States have continued to bounce between $27 and $28 per hundredweight ($540 and $560 per short ton) in a quiet pre-holiday spot market, sources said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $27.54 per cwt ($550.80 per ton) on Tuesday December 3, down by 0.9% from $27.79 per cwt on December 2 but roughly unchanged f...Read More