LHTM's September 5 put is being bought to open todayBofA-Merrill Lynch downgraded Livent Corp (NYSE:LTHM) to "underperform" from "neutral," and slashed its price target by $3 to $7. The analyst in coverage expects "challenged economics" as growth in electric vehicles will not be fast enough to absorb lithium hydroxide production. This comes as electric car maker Nio (NIO) earlier reported disappoi...Read More
GoldStrength Dominates the MarketsThe recent rally in Gold has been hardto ignore. The yellow metal is certainly showing a lot of strength. But unlikeprior rallies, the current one stands out in several ways.For starters, Gold is trading atrecord levels against four of the seven major currencies. Looking at just spotGold against the dollar does not represent just how strong Gold is at themoment. B...Read More
JD.Com stock has struggled with recent trade tensionsChinese internet name JD.Com Inc (NASDAQ:JD) is 1.1% lower at $26.80 this afternoon, struggling amid the U.S.-China trade war tensions. JD has drastically pulled back from its Aug. 13 annual high of $35.66, but remains 28% higher year-to-date, and is seeing support at the $26 floor. Plus, the stock is nearing a key trendline, and below, we will...Read More
Roku calls are popular todayWhen we checked in with Roku Inc (NASDAQ:ROKU) last week, the streaming stock was roaring to new heights after a blowout earnings report. Today, ROKU is up 7.5% to trade at $134.77, and earlier nabbed a fresh record high of $136.55 after Needham maintained the stock as its mid-cap pick for 2019. The analyst in coverage upped its price target to $150 from $120 -- the...Read More
Copper is a fairly strong measure of the strength and capacity of the global economy and global manufacturing. Right now, Copper has been under quite a bit of pricing pressure and has fallen from levels above $4.50 (near 2011) to levels near $2.55. Most recently, Copper has rotated higher to levels near $3.25 after President Trump was elected on November 2016, yet has recently fallen a...Read More
Consumer spending could be hurt for the holiday season if the tariffs take effectWith the next round of tariffs on imports from China expected to go into effect on Sept. 1, analysts are trying to gauge the impact they'll have on U.S. businesses. Today, Telsey Advisory Group released a note discussing the tariffs, and included a few retailers that could be hurt. Two names in particular that stood o...Read More
Increasingly violent protests have contributed to a major sell-off for stocks todayThe escalating protests in Hong Kong continue to weigh on the Dow Jones Industrial Average (DJI), which has taken a near 250-point nosedive today. In addition, lingering concerns about U.S.-China trade tensions have trade-sensitive Dow component Caterpillar (CAT) getting slammed as a result. Meanwhile, fears about a...Read More
GE breached a key trendline on FridayThe shares of General Electric Company (NYSE:GE) are down 2% to trade at $8.98 this morning, after J.P. Morgan Securities' analyst Stephen Tusa weighed in on the former Dow name. While the noted GE bear maintained his "underweight" rating and $5 price target, he noted that the company's "fundamentals on net continue to look negative," which is "tough to turn i...Read More
The inversion of the yield curve is of crucialimportance as it has historically been one of the most reliable recessionarygauges. Consequently, we invite you to read our today’s article about the historyof the yield curve inversions and find out whether the recession is coming, andwhat does it mean for the gold market. We keep our promises. In the previous edition ofthe Market Overview, we p...Read More
The shares are down 26% in early tradingCannTrust Holdings Inc (NYSE:CTST) is down 26.2% at $2.39, on reports a second cannabis growing facility run by the Ontario-based pot firm received a non-compliance letter from Health Canada. The regulatory agency placed a hold on marijuana inventory at the location, which includes around 5,200 kilograms of dried cannabis, according to a company statement.Th...Read More
What a wild week it’s been forinvestors. The threat of global trade wars andcurrency wars sparked big swings across all major asset classes. Bond yields dove toward historic lows. Stocks plunged earlier in the week beforerebounding sharply by Thursday. Andprecious metals rode a huge safe-haven wave higher.Gold prices eclipsed the $1,500 levelon Wednesday for the first...Read More
Citi is concerned about Micron's inventory levelsChipmaker Micron Technology, Inc. (NASDAQ:MU) is down 0.5% at $41.31 this morning, after an analyst at Citigroup reiterated a brutal bear note. Christopher Danely reaffirmed the brokerage's "sell" rating and $30 price target, stating current inventory levels have reached record levels, leaving the stock at risk for lower earnings per share (EPS) an...Read More
Brinker International will report earnings before the open on TuesdayRestaurant stock Brinker International, Inc. (NYSE:EAT) has been underwhelming on the charts this year, giving back more than 9% in 2019. However, Evercore ISI came in this morning with a bull note, raising its price target to $42 from $40. The brokerage firm said same-store sales is the number to watch for the Chili's owner, add...Read More
Capri-owned Versace apologized after putting out a T-shirt mistaking Hong Kong and Macau as countries Capri Holdings Ltd (NYSE:CPRI) was in hot water over the weekend, after its Versace wing put out a T-shirt misidentifying Hong Kong and Macau as countries. The shirt came under scrutiny on Chinese social media, and has since been taken down, with an apology from Artistic Director Donatella Versace...Read More
Hong Kong's airport cancelled all departures amid the escalating protests Dow Jones Industrial Average (DJI) futures are signaling a triple-digit drop for the blue-chip index this morning, as geopolitical tensions in Asia weigh on Wall Street. In addition to lingering trade tensions with China -- including a round of tariff tweets from President Donald Trump over the weekend -- escalating protest...Read More
All important factors are finally putting tremendous pressure on the USDollar. The weak economy will result in lower interest rates, thus more downward USD pressure. The enormous USGovt debt will result in further bond dumps in addition to trade settlement outside the USD, thus more downward pressure. The resentment for threatened hot wars, trade wars, economic sanctions, and SWIFT obstructions...Read More
Aug. 9th, 2019(S14-E708)Featured GuestsDr. Stephen Leeb &Arch CrawfordPlease Listen HereInterview RecapArch Crawford, head of Crawford Perspectivesfor 42 consecutive years rejoins the show.Arch's analysis indicates "the best gold buying opportunity in several years... add positions NOW!."If the recent breakout holds as expected, "... the upside could carry gold above $2,000-$3,000+." Slowing...Read More
David HaggithOh my gosh, what a load of BULL I keep reading among the gurus who whine about negative headlines and complain that this unmerited negativity is the only thing that is killing the bull market. Bull.The bellowing bulls cry every time someone runs a negative headline, "Stop, you're breaking our bull market with your negativity. That is the only reason it is going down." The real truth...Read More
By Avi GilburtThe Fed. The China trade deal. The House of Representatives impeachment proceedings. The Iranian aggression. North Korea firing missiles. Slowing growth in the world economy. As you can see, there are many issues worrying investors today. And, as the market moves up and down through these large gyrations these last two weeks, one excuse is paraded out after another.When the market...Read More
Bulls might want to wait until a VIX close below its 200-day for an "all-clear""In other words, the option forces related to big put open interest strikes will not be in play if the 290 strike is breached between now and expiration Friday on Aug. 16, reducing the odds of a sharp sell-off driven in part by the options market."-- Monday Morning Outlook, August 5, 2019Famous last words, huh? In last...Read More