In this video we opine on the Gold CoT and why conventional CoT analysis can lead you astray without the help of technical and fundamental analysis.Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated inv...Read More
Stocks started strong but the major indexes finished in the redStocks gained out of the gate, but the upside was capped amid negative trade headlines and more recession fears. The Dow, S&P, and Nasdaq all traded on both sides of breakeven before ending lower, with the former index failing to capitalize on a big move from Johnson & Johnson (JNJ). A deeper inversion in Treasury yields only added to...Read More
A federal court upheld a patent ruling against the generic drugmakerThe U.S. stock market has erased its earlier lead on renewed U.S.-China trade tensions. Among individual names making volatile moves are burger chain Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB), generic drugmaker Mallinckrodt PLC (NYSE:MNK), and software solutions firm SilverSun Technologies Inc (NASDAQ:SSNT). Here's a quick loo...Read More
Bloomberg said China's antitrust authority is probing Tencent MusicChina-based streaming service Tencent Music Entertainment Group (NYSE:TME) is under fire today, after Bloomberg reported that the company is being probed by China's antitrust authority, which could snuff out several exclusive licensing deals with the likes of Sony Music Entertainment, Warner Music Group, and others. The report has...Read More
TECD shares recently fell below the 200-day moving averageTech Data Corp (NASDAQ:TECD) shares are falling sharply today after Citigroup cut its price target to $91 from $100. The brokerage firm put the stock on a list of names it believes are seeing negative catalysts, and expects the company's second-quarter results to come in at the lower end of the expected range. Citi believes TECD is still wo...Read More
The DJI was up more than 150 points earlierThe Dow Jones Industrial Average (DJI) has reversed course at midday, erasing early gains sparked by China's announcement that it might retract car-buying restrictions to boost consumption. Investors are also digesting mixed signals on the trade front, after a spokesperson for China's Foreign Ministry reiterated today they were unaware of phone calls betw...Read More
ATVI stock is eyeing its best close of 2019The shares of Activision Blizzard, Inc. (NASDAQ:ATVI) popped higher today, after the video game maker launched "World of Warcraft Classic." Players are reportedly facing lengthy queues just to get into the game. ATVI shares are now pacing for their highest close of 2019, and bullish options bets are flying off the shelves at nine times the average intrada...Read More
The shares have pulled back to their 80-day moving averageA sharp bounce off its 320-day moving average in late December sent Microsoft Corporation (NASDAQ:MSFT) scaling the charts, with the Dow stock topping out at a record high of $141.67 on July 26. Since then, the shares have pulled back to familiar support at a key trendline, and history suggests MSFT stock could be headed back into uncharted...Read More
J.P. Morgan Securities cut its rating on the printing stockJ.P. Morgan Securities downgraded Xerox Holdings Corp (NYSE:XRX) to "underweight" from "neutral," citing declining revenues. The brokerage firm also said Xerox's possible sale of its financing unit and its current capital allocation plan create short-term risk for XRX bondholders.The skepticism toward XRX has picked up elsewhere on Wall St...Read More
This weekend we thought we would share some really important data and charts with all of you precious metals bugs/traders (like us). You probably remember our October 5th, 2018 call in Gold that has set off an incredible series of events for all of us. We made a prediction that day that Gold would rotate higher from the $1200 level targeting the $1300 level, then stall and move lower t...Read More
Stewart Thomson 1. A year ago, I predicted that any US stock market sell-off would be accompanied by a dramatic surge in the price of GDX an GDXJ.2. That's exactly what happened; the stock market tanked and key gold stocks soared.3. This year, I'm predicting that any major US stock market crash will again be accompanied by the soaring price of the gold producers...4....Read More
By: Ira EpsteinGold hit the upper bolinger band and retreated yesterday, some of the pros took some off the table. Big US holiday coming too. Gold Market overbought..Read More
There's a lack of sideline cash to fuel future rallies for EOGIn early August, oil name EOG Resources Inc's (NYSE:EOG) post-earnings pop was quickly halted at its 40-day moving average. The trendline was perched near $88 at the time -- a previously supportive region that also coincides with EOG's $50 billion market cap. The security is now trading below a trendline connecting higher lows since 200...Read More
Video game stocks have been under pressure from political headwinds latelyThe shares of Zynga Inc (NASDAQ:ZNGA) are up 3.4% to trade at $5.79 this morning, after Wedbush named the video game maker to its "Best Ideas" list. The brokerage firm raved about the company's catalog of titles such as"Merge Dragons!" and "Empires & Puzzles," and noted that upcoming releases could drive growth through 2021...Read More
J. Jill reported second quarter revenue that exceeded analysts' estimates Retail name J. Jill Inc (NYSE:JILL) is in focus this morning, with the company reporting a strong second quarter this morning. The company posted revenue that beat analysts' expectations, citing positive traffic over the summer, and a smaller-than-expected loss for the period. The firm also lifted its full-year guidance. In...Read More
Oil futures are up, as well Dow Jones Industrial Average (DJI) futures are trading well above fair value this morning, getting a boost from Johnson & Johnson (JNJ) stock. This is offsetting uncertainty surrounding the latest U.S.-China trade headlines, after a spokesperson for China's Foreign Ministry said they were unaware of a phone call between the two countries that was touted by U.S. Presiden...Read More
Aluminium premiums were mostly stable globally during the week ended Tuesday August 27, with participants shifting their focus to longer-term contract negotiations. But the recovery recently seen for Rotterdam material was spreading throughout Europe. Rotterdam uptrend pushing European premiums upMain Japanese port (MJP) premium flat; focus goes to quarterly contractsPremium in United States' Midw...Read More
PZZA put options have been very popular Papa John's International, Inc. (NASDAQ:PZZA) is trading up 6.8% before the open, thanks to news the pizza chain has named Rob Lynch, formerly the President at Arby's Restaurant Group, as its CEO. This price action would have PZZA shares above the 50-day moving average, which has been acting as resistance in recent weeks, and in the meantime, some traders wh...Read More
The fear index popped last week, which means SPY chart support will be in the spotlightWith the stock market stakes steadily rising in recent weeks on seemingly every front -- from the dreaded yield curve inversions that have dogged traders in August to Friday's fresh escalations in the U.S.-China trade war -- the Cboe Volatility Index (VIX) appears to be gradually awakening from its slumber. The...Read More