Short interest is notably high on the equityDistribution specialist Fastenal Company (NASDAQ:FAST) is shaping up as an ideal trade target for a contrarian trader. The stock has rallied 42% in 2019, and recently gapped to near highs thanks to strong quarterly earnings. However, sentiment around the stock is remarkably bearish, meaning there is still plenty of fuel in the tank for this outperformer....Read More

By: Ira EpsteinGold support around $1480 area if it were to breakdown. Gold fighting resistance with overbought market, serious resistance..Read More

In our most recent editorial we concluded by observing a few positives in the gold and silver stocks. W concluded with: “Their performance over the weeks ahead could give us an early hint as to how much longer the correction will last.” Fast forward another week and a few positives has morphed into a handful of positives.  First let’s look at GDX. In the chart below we plot...Read More

Endo International's CEO will retire once a successor is namedThe shares of drugmaker Endo International PLC (NASDAQ:ENDP) are sliding this morning, following CEO Paul Campanelli's retirement, effective once a successor is named. This announcement has overshadowed the company's third-quarter earnings beat and upwardly revised full-year outlook, which the firm attributed to strengthening sales in i...Read More

BYND was oversold heading into today, tooWhen we last checked in with Beyond Meat Inc (NASDAQ:BYND), the faux meat concern was getting battered after a dismal corporate report. Today, BYND is on the mend, up 4.5% to trade at $83.39, after Bernstein hiked its rating to "outperform" from "market perform." In keeping its price target of $108 steady, the analyst in coverage said the upgrade was a "va...Read More

Wall Street knows it, and wealthy investors know it, too: Fear sends gold soaring.And right now, there’s so much fear floating around the market that gold isback on everyone’s radar.But what most investors don’t know, is that gold can be bought at deep discounts.Gold is soaring closer and closer to $1,500 per ounce right now…But imagine you could get your hands on it for j...Read More

November calls were popular on SHAK and TPRInvestors are monitoring earnings releases from Shake Shack Inc (NYSE:SHAK) and Tapestry Inc (NYSE:TPR), and both stocks are sliding in pre-market action. This would be bad news for a number of options traders, since data for both SHAK and TPR shows interest in calls. For SHAK, the shares are set to open down 17.2%, which would put them below the 200-day...Read More

Demand for flat steel products in Turkey remained weak in October because of the decline in global prices, market participants told Fastmarkets on Tuesday, November 5.Nonetheless, they added that local producers have now filled their order books until late December.Local demand was already weak in Turkey in September, and political uncertainty in October led to a further fall in&nbs...Read More

The Silver price soared during August as it played catch up to the Gold bull run, Silver peaking at a high of $ 19.75 early September before like Gold entering into a correction to a low of $16.94 late September and trending weakly higher during October to currently stand at $18.07, a2 month trend similar to that of the gold price. (Charts courtesy of stockcharts.com)First a recap of my recent Sil...Read More

Turkish exports of flat steel products declined by 21.8% year-on-year to 393,716 tonnes in September 2019, according to the Turkish Statistical Institute (TUIK).This compares with a volume of 503,524 tonnes in the corresponding period of 2018, the institute said.The reason for decrease in exports was the lackluster demand for Turkish flat steel...Read More

Talks of reducing some of the tariffs imposed on Chinese goods back in September are reportedly in the works Stock futures are once again pointing to all-time highs today, with Dow futures more than 70 points above fair value amid reports the U.S. may roll back some of the $125 billion in tariffs on Chinese goods enacted in September. This fresh optimism on U.S.-China relations comes just ahead of...Read More

The brokerage firm also boosted its rating on FB stockFacebook, Inc. (NASDAQ:FB) shares are trading modestly higher ahead of the bell, after Daiwa Securities upgraded the FAANG stock to "outperform" from "buy." What's more, the brokerage firm's $250 FB price target represents expected upside of 28% to last night's close at $194.72.Most analysts are already bullish on FB stock, with 29 of 33 in cov...Read More

Recently, the US stock market rallied to new all-time highs which prompted an almost immediate celebration.  A day later, the US stock markets reacted by setting up multiple top rotation patterns.  The next day, a moderate price rally set up after the US Fed decreased rates by 25 basis points.  The next day, the markets sold off dramatically with heavier volume – prompting the...Read More

Transport fund IYT tends to outperform during the month of NovemberAt one point last week, the Dow Jones Transportation Average (DJT) was sitting on an October gain of more than 4%, as the outperformance of the transportation sector had sparked optimism among "Dow Theory" followers. However, a mid-week round of discouraging earnings reports from the sector effectively rained on the transport index...Read More

A summary of base metals premiums from across the globe for the week to Tuesday November 5.Please click...Read More

The gold miners’ stockshave surged in 2019, blasting higher after gold’s first bull-market breakout seenin several years.  That powerful summer rallyleft them really overbought, necessitating a correction to rebalance exuberantsentiment.  That grinding consolidationlower has set them up nicely for their winter rally, this sector’sseasonally-strongest time of the year.&n...Read More

The 1960s and 70s were decades of incredible social upheaval. Fed up with wars, governments out of touch with their ideals, authority figures who didn’t get them, the “flower children” of the '60s took to the streets to demand equal rights for women, civil liberties for black Americans, an end to President Johnson and Nixon’s Vietnam quagmire - all fueled by a powerful new...Read More

Prices for ferrous scrap in Mexico increased slightly in the northern steelmaking region of Monterrey in the week to Tuesday November 5, while prices were flat in the central steelmaking region of Bajio.Market participants are more optimistic about prices, with indications that scrap prices in the United States could see a modest recovery in November.In Monterrey, word circulated that at least one...Read More

Yesterday, that was already the third time this yearwhen the Fed cut interest rates. In response, the price of gold erased earlierlosses. That sounds a bit fishy. What is going on? Fed LowersInterest Rates by 25 Basis PointsYesterday, the FOMC publishedthe monetary policy statement from itslatest meeting that took place on October 29-30th. In linewith expectations, the U.S. central bank cut the fe...Read More

In a September report, the World Gold Council (WGC) pointed out that some investors are underexposed to gold. The gist of the study is that investors may assume they have adequate exposure to gold because they're invested in a fund that tracks a broad-based commodity index. The problem with this assumption is that most major commodity indices have a relatively small weighting in gold, and so the...Read More