AAPL is leading the charge this morning after an upgradeDow Jones Industrial Average (DJI) futures are on the rebound this morning following yesterday's massive market crash -- the worst since the "Black Monday" crash of 1987 -- up over 1,000 points in electronic trading. Blue chip Apple (AAPL) is leading the charge, following an upgrade from Wells Fargo. Meanwhile, S&P 500 Index (SPX) futures j...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 336,29036,75954,064182,948511,252573,302602,075 Change from Prior Reporting Period -29,883-9,681-31,2954,814-17,893-56,364-58,869 Traders 20177796158300183 Small Speculators LongShortOpen Interest 60,16831,395633,470 -2,151354-58,515 non reportable positi...Read More
Do not look at corona virus news. It will only result in you making a wrong decision. Think long term. Thing strategically and then invest. Do not try to play the T20 cricket game. Hit or miss way of investing will result in more misses or more losses. Invest with a 5 day cricket test match view. A good investment call and you can easily make over hundred percent return before Christmas. Asian n...Read More
Italian long steel producer Feralpi Group has announced the closure of one of its mills, starting from March 16, due to the outbreak of 2019-nCoV coronavirus, the company told Fastmarkets on Friday March 13.On March 11, Italian authorities issued another decree intended to help restrict the spread of the coronavirus infection, tightening the lockdown across the country from the conditions set out...Read More
Two more steel producers in Italy have stopped operations following the recent nationwide extension of the country's coronavirus-related quarantine area, and more stoppages were expected, sources told Fastmarkets on Thursday March 12.On March 11, Italian Prime Minister Giuseppe Conte signed a decree tightening the Italian lockdown from the conditions set out in a previous decree on March 9. While...Read More
Brazilian miner Vale has said it may have to implement contingency measures or eventually suspend operations due to the global spread of the novel coronavirus (2019-nCoV) pandemic around the world.The miner made it clear, however, that "as of today, we have not suffered any material impact to our operations, logistics, sales or financial position, nor [have] any of our employees tested p...Read More
The price of steel slab from Brazil has edged downward over the past week, with sellers attempting to put limits to a downtrend in the market amid growing uncertainty in the United States.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, fell to $460-470 per tonne on Friday March 13, from $470-475 per tonne in the previous week.The market was shaken when many custo...Read More
Aluminium primary foundry alloy premiums were stable in Europe and the United States this week, with market participants pondering the long-term effects of the outbreak of 2019-nCoV coronavirus on the market's fundamentals and supply chain.EuropePremiums in Europe were steady, with market participants uncertain about the direction the market might take due to the measures being taken to try to con...Read More
Steel import prices in South America were mixed over the past week, with some suppliers taking advantage of lower availability to present more expensive offers, while China-origin material was offered at lower levels, source told Fastmarkets.Market participants noted an unusual scenario of flat-rolled steel being offered to Brazil at lower levels than South American Pacific countries. Chinese stee...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 336,29036,75954,064182,948511,252573,302602,075 Change from Prior Reporting Period -29,883-9,681-31,2954,814-17,893-56,364-58,869 Traders 20177796158300183 Small Speculators LongShortOpen Interest 60,16831,395633,470 -2,151354-58,515 non reportable positi...Read More
With the major gold miners' stocks getting bludgeoned, smart contrarian traders are salivating at coming great buy-low opportunities! With the COVID-19 pandemic's extreme fear terrifying the markets, it's very important to stay grounded in the gold stocks' underlying fundamentals. Just this week they are finishing reporting their Q4'19 results, which were incredibly impressive thanks to re...Read More
Gary Christenson, The Deviant InvestorStay with me on this... the purpose will become clear soon.Assume (without laughing or crying) that our U.S. senators are honest individuals filled with integrity. Yes, I know, but stay with me...They voted during the impeachment trial for President Donald Trump. They swore to uphold the following oath:"Do you solemnly swear that in all things appertaining t...Read More
Do not look at corona virus news. It will only result in you making a wrong decision. Think long term. Thing strategically and then invest. Do not try to play the T20 cricket game. Hit or miss way of investing will result in more misses or more losses. Invest with a 5 day cricket test match view. A good investment call and you can easily make over hundred percent return before Christmas. Asian n...Read More
An overview of the minor metals markets andthe reasons for any price moves.Read More
The London Metal Exchange three-month copper price maintained its level on Friday March 13, closing at $5,460, with almost 31,000 lots traded on the day.The copper price touched a high of $5,589 per tonne but also fell to a low of $5,319.50, before consolidating around the $5,400-per-tonne mark.The copper price was also supported by the fresh cancellation of 1,150 tonnes on Friday, bring...Read More
The main coking coal exports hub of Dalrymple Bay Coal Terminal (DBCT) in Queensland, Australia, declared force majeure after vessel loading operations were suspended earlier this week, market sources told Fastmarkets on Friday March 13.Fastmarkets indicesPremium hard coking coal, fob DBCT: $162.13 per tonne, up $2.57 per tonnePremium hard coking coal, cfr Jingtang: $166.68 per tonne, up $1.82 per...Read More
Seaborne iron ore prices moved higher on Friday March 13 as portside iron ore stocks fell, steel and steelmaking raw materials futures rose, China's central bank provided another boost to the economy and global equities market found a footing following a rout earlier this week.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.71 per tonne, up $0.96 per tonne. 62% Fe low-alumina fines, cfr...Read More
SD Friday Wrap: Last weekend was the last normal weekend. Here comes the grave new world, so dig in and hunker down before next week if possible...Editor's Note: These charts were set up before 12:30 p.m. EST and do not reflect price action after that time.*****I don't have a lot of time to write this Friday afternoon.Please accept my apologies in advance.You don't have a lot of time to be reading...Read More
Just days after gold traders, gold investors, and goldbugs thought the sharp decline was nothing more than a bad dream, reality kicked in...by Przemyslaw Radomski via Sunshine ProfitsIn yesterday's analysis, we wrote that the outlook for the precious metals sector remained bearish, and we wrote that if you've been wondering which parts of the precious metals sector are likely to decline the mo...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday March 13. United States Thin available inventory pressured prices upward. Consumer interest was still limited but suppliers drove liquidity...Read More