Oops, the coronavirus expanded into a bubble of illness and deaths. Like all bubbles, financial or otherwise, this one will expand, burst, collapse and cause collateral damage. When will the "everything" bubble collapse? When will the coronavirus be contained? How much damage will these bubbles inflict upon the economy, people and personal savings? We don't know. Stay tuned.BUBBLES IN THE PAST...Read More

Avi GilburtEarly Tuesday morning, I put out an update to our members that noted that the 3135 region as the top of our resistance region, which can point us lower once struck.Now, we all know that the "surprise" rate cut by the Fed should have been viewed as a positive to the market. In fact, most expected the Fed to act soon, and were certain how this would send the market soaring again.Howeve...Read More

In the latest update to the Rick's Picks home page, I've revised an interest rate forecast for the 30-year bond to better sit down for this 0.73%. This is an implied recession/depression away from the current 1.60%, so you may want to jot the new number down. I got a wake-up call on this from my friend Doug Behnfield, whose name will be familiar to anyone who has followed Rick's Picks for...Read More

Trading activity in the Iranian export billet market was limited in the week to Wednesday March 4 because of a mismatch between mills' offer prices and the bids placed by customers.Iranian billet producers continued to insist on export offers at $390 per tonne fob, referring to strong demand in the domestic market.The increased demand seen in the local market in recent weeks was the result of the...Read More

Steve St. Angelo, SRSrocco Report The Fed injected a record amount of liquidity this morning via its Repo Market Operation to supply dealers in the interbank market. While investors may be reassured by the huge 1293 point rally on the Dow yesterday, the global contagion and its impact are just beginning. Don't be surprised to see a 40-50% correction in the Dow Jones over the next month. I'...Read More

Reduction in interest rate differential (after the Federal reserve interest rate cut of 0.50%) has resulted in US dollar index falling and gold/silver prices rising. Copper and crude oil are firm on hopes that negative economic impact will be short lived. All monetary measures will be useless in the very short term by central banks if the corona virus infects more and more people worldwide. Last...Read More

China's domestic rebar prices were mixed on Wednesday March 4, with those in the east of the country edging higher while those in the north moved down slightly on different trading activity.Eastern China (Shanghai): 3,420-3,440 yuan ($493-496) per tonne, narrowed upward by 20 yuan per tonne Northern China (Beijing): 3,280-3,320 yuan per tonne, down 10-20 yuan per tonneIn eastern China, some tradin...Read More

Key data from Fastmarkets' pricing session in Europe on Wednesday March 4. Key drivers:  Prices move into March unchanged after four weeks, although participants report signs of renewed demand for second-quarter settlements from consumers in the steel sector.European suppliers expected to push...Read More

The Chinese ferro-silicon price continued to fall in the week to Wednesday March 4 due to high stocks and worsening magnesium price performance. Fastmarkets' price assessment for ferro-silicon 75% Si min, in-whs China was 5,800-6,000 yuan ($837-866) per tonne on Wednesday, down by 7.6% at the midpoint from 6,300-6,400 in the previous week. "The price has fallen back to where it was before the...Read More

The results should expand the resource and extend the mine life of the project co-owned by MAG Silver. JuanicipioIn a news release, MAG Silver Corp. (MAG:TSX; MAG:NYSE A) announced results from its 2019 diamond drill program at the Juanicipio property in Mexico.MAG owns 44% of Juanicipio, and Fresnillo, the operator, owns 56%.The 28-hole, 33,864-meter (33,864m) program expanded and upgraded the w...Read More

A buildup of manganese ore at Chinese ports is set to escalate in the coming weeks when a jump in fresh imports adds to a spillover of material into minor ports, manganese market sources predict. Manganese ore stocks in main Chinese ports stand at 4.64-4.85 million tonnes according to Fastmarkets' latest assessment on Monday March 2, compared with 4.52-4.64 million tonnes at the end of 2019....Read More

All three indexes bounced back with wins of 3.5% or moreThe Dow roared back to life today for an 1,173-point win that erased yesterday's sell-off. The blue-chip index took its cues from the political arena today, after former Vice President Joe Biden surged ahead of Senator Bernie Sanders in the wake of a resoundingly successful Super Tuesday. Wall Street also got a late-afternoon boost after Cong...Read More

Kroger is expected to reveal its fourth-quarter report before the open tomorrowWith fourth-quarter earnings due out before the open tomorrow, March 4, the shares of grocery store chain Kroger Co (NYSE:KR) are climbing higher, up up 3.4% at $30.33 at last check. This is due in part to Morgan Stanley's price target hike by $1 to $28 -- a slight discount to current levels. Today's pop places KR right...Read More

Upbeat jobs and manufacturing data are powering Wall Street today tooThe Dow Jones Industrial Average (DJI) is in the midst of a substantial rally today, thanks to political tailwinds created by former Vice President Joe Biden. His slew of Super Tuesday primary victories last night puts him ahead ofSenator Bernie Sanders in the delegate count, and healthcare stocks like UnitedHealth (UNH) are boom...Read More

MKM Partners is dismissing concerns over Cronos' delayed earnings report Cronos Group Inc (NASDAQ:CRON) is pushing off yesterday's two-year low of $5.14, up 3.2% at $5.49, after MKM Partners lifted its rating to "buy" from "neutral." The analysts' upgrade comes one day after the weed specialist said it would delay its fourth-quarter earnings report, garnering a downgrade from Stifel. MKM, however,...Read More

Wells Fargo upgraded Chipotle to "overweight" from "equal weight"The shares of Chipotle Mexican Grill Inc. (NASDAQ:CMG) are up 4.02% to trade at $765.70 this morning after Wells Fargo upgraded the restaurant concern to "overweight" from "equal weight," and lifted its price target to $1,000 from $868. The analyst cited the expansion of its Chipotlane stores, and went on to say the security's recent...Read More

UNH has almost caught up to its year-to-date breakeven point nowLeading the Dow's charge today is UnitedHealth Group Inc (NYSE:UNH), last seen up 10.2% to trade at $287.90. This in direct response to former Vice President Joe Biden's resounding victory yesterday in the Super Tuesday primaries. Biden has now picked up 453 delegates and political momentum to pass prior favorite Senator Bernie Sande...Read More

The retailer posted fourth-quarter revenue that missed the mark Discount retailer Dollar Tree, Inc. (NASDAQ:DLTR) opened at a two-year low of $79.93 this morning, and was last seen down 1.3% at $80.76, after a mostly disappointing fourth-quarter earnings report. The company posted profits of $1.79, which exceeded analysts' estimates, but announced $6.32 billion in revenue, which missed analyst es...Read More

Former Vice President Joe Biden grabbed several big wins in last night's primariesDow Jones Industrial Average (DJI) futures are signaling an over 600 point surge going into today's trading, as Wall Street unpacks former Vice President Joe Biden's big wins on Super Tuesday, pulling ahead of Senator Bernie Sanders in the delegate count for the Democratic Primaries. This has the healthcare sector --...Read More

Past trends help us grapple with alarming pullbacks following all-time highsThe S&P 500 Index (SPX) fell into "correction territory" as coronavirus news unfolded last week. Correction territory is defined as a 10% pullback. Not only did the index pull back double-digits from an all-time high, it did so at alarming rate. In six trading days, the S&P 500 went from closing at an all-time high, to dow...Read More