By: Ira EpsteinBears do not like to short in an oversold market. Gold moving off the lower volatility band, resistance area $1,485 area. $GDXJ at resistance at the 18-DMA, $GDX...Read More
By: Avi Gilburt(Originally published on Sat Nov 9 for our ElliottWaveTrader members)When the GLD dropped down off the October 25th high in a 5-wave structure, this provided us with the warning that a deeper c-wave can take hold. In fact, as we began the rally off that 5-wave decline, I began noting in our trading room that I was going to use GLD puts as a hedge to my overall metals positions,...Read More
Scrap prices in the global markets have been firm during the working week from Monday November 11 to Friday November 15 thanks to demand from mills in Turkey and Southeast Asia and to seasonal factors that raised costs. Turkish mills continue to book scrap for December, but concerns persist over weak long steel demand US suppliers seek higher prices for exports Chinese demand for downstream billet...Read More
Buyers in the United States resumed pig iron purchases at higher prices in the week to Friday November 15, due to the improving scrap and hot-rolled coil markets.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $323-327 per tonne, up from $320-325 per tonne a week earlier.Several bookings of Russia-origin pig iron were heard at $323-327 per tonne cfr f...Read More
Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
"Universities like Princeton have done a good job at expanding and diversifying their undergraduate populations...If we want to make similar strides on the graduate level, we must Continue...Read More
Links to Slides and Sources: https://www.itmtrading.com/blog/headl...Are you watching all the "talking heads" on TV push this idea of optimism in our Economy, while completely ignoring the truth of what's going on in the big picture? I'm hoping the reason you're watching this video (and not the news) is because your gut tells you there's a lot of things they aren't telling you...and you'd be right...Read More
Erik Townsend and Patrick Ceresna welcome Charlie McElligott to MacroVoices. They discuss late cycle dynamics, how the CTA position estimating model works and if it's time to buy gold & more. Read More
Watch out for digital payment services. It's all in your phone and the fraudsters are out there taking your data. Through the miracle of the NFC (Near field communication) protocol, thieves can steal your financial info in a flash. Beware of fuel thieves, especially in Florida. They steal credit card data and then go to gas stations and load up their hidden tanks with a few hundred gallons. Then y...Read More
The quarterly report on household debt shows another record high. Delinquencies are up strongly as well.Continue...Read More
"So they now convict Roger Stone of lying and want to jail him for many years to come. Well, what about Crooked Hillary, Comey, Strzok, Page, McCabe, Brennan, Clapper, Shifty Schiff, Ohr..."Continue...Read More
Domestic prices for secondary steel billet in India over the week to Friday November 15 fell by 400 rupees ($6) per tonne, with makers of long steel products reducing their purchases of semi-finished material on a lack of sustained demand for products such as rebar.The price of steel billet, domestic, exw India, was assessed by Fastmarkets on November 15 down by 400 rupees per tonne to 26,000-26,2...Read More
The amount of gold to hold in a portfolio that optimizes an investor's risk/return profile is much higher than what most would hold, this according to Ryan Giannotto, director of research at GraniteShares."We have found that the efficient level, the optimized level, was 35% gold. Not saying you should own 35% gold, that's an awfully high concentration, but it challenges the conventional wisdom of...Read More
The CIS export billet price picked up at the end of the week on a booking to Turkey, market participants said.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $380 per tonne on Friday November 15, up by $5 day-on-day.Russia's Abinsk Electric Steel Mill sold a cargo of billet to Turkey this week at $393 per tonne cfr, sources told Fastmarkets. According to various assessments,...Read More
Prices in Southeast Asia's steel billet market were given a boost during the week to Friday November 15 due to limited cargoes available in the spot market after Chinese buyers resumed billet imports. At least 140,000 tonnes of billet from various origins including India, Iran, Malaysia and Vietnam have been booked at $405-415 per tonne cfr China over the past week, sources told Fastmarkets.A trad...Read More
An overview of the noble alloys markets and their latest price moves.Read More
The Dow rose above 28,000 for the first time everStocks finished out the week with a strong performance, as the Dow, S&P 500, and Nasdaq all hit record highs -- and the former made its first-ever trek above 28,000. The bullish bias was stoked by upbeat trade talk and well-received retail sales, while investors also kept tabs on all the impeachment hearing headlines out of Washington. Today's gains...Read More
Both stocks are enjoying record weeksStocks are scoring new highs to end the week, thanks to upbeat retail sales and chip sector earnings. Among two names making notable moves higher today are luxury retail concern Farfetch Ltd (NYSE:FTCH) and biopharmaceutical name Amarin Corporation (NASDAQ:AMRN). Here's a quick look at what's moving the shares of FTCH and AMRN. FTCH Call Traders Don't Envis...Read More
Developments on a trade deal between the U.S. and China were closely followed this weekIt was a wild trading week for stocks, as Wall Street closely monitored developments on the trade agreement between the U.S. and China. U.S. President Donald Trump, in particular, was quite vocal about the state of the trade deal, with comments on Tuesday over how China has "cheated" the U.S. in the past spookin...Read More
AMD shares are trading at new highs againThe semiconductor sector is on fire today thanks to strong earnings. The surge is helping push Advanced Micro Devices, Inc. (NASDAQ:AMD) to new highs, earlier the stock hitting a fresh 13-year peak of $39.37. This brings the chipmaker's year-to-date gain to 109%, and puts it on pace for a seventh straight weekly win. Schaeffer's Senior Quantitative Analyst...Read More