Why the 18 region on the volatility index bears careful considerationVolatility as an asset class has been through the wringer in 2019. The benchmark Cboe Volatility Index (VIX - 15.85) is down 37.6% year-to-date, as of this writing, contra the 12.7% rise in the S&P 500 Index (SPX). Looking even worse for the wear is that infamous VIX futures derivative, the iPath Series B S&P 500 VIX Short-Term F...Read More
The shares have already surged 800% in 2019Axsome Therapeutics Inc (NASDAQ:AXSM) presented data on AXS-05 at the American Psychiatric Association (APA) conference this weekend, and analysts are rewarding the equity today. Cantor Fitzgerald hiked its price target on AXSM stock to $35 from $25, and SunTrust Robinson started coverage with a "buy" rating and $50 price target -- roughly double Friday's...Read More
Take advantage of the first amendment, and participate in a nation-wide poll.With the 2020 election growing ever closer, the country continues to be divided politically.From disputes about the appropriateness of displaying the Confederate flag, to rights for minorities, and the ever-growing concern about security at the U.S. border, the 2020 election promises to be contentious... if not the most c...Read More
How you can transform lagging indicators into leading indicators.No one ever said trading was going to be easy.Sometimes, do-it-yourself investing can feel about as scientific as throwing darts... and many traders give up, unable to figure out how they can break through the endless cycles of mediocre - or even straight up abysmal! - results.And when even the supposed "market gurus" or "experts" do...Read More
The stock is fresh off its worst weekly loss of 2019The shares of Activision Blizzard, Inc. (NASDAQ:ATVI) are up 4.9% to trade at $44.37 this morning, after Goldman Sachs upgraded the video game name to "buy" from "neutral," and added it to the "conviction list." Along with a price-target hike to $54 from $50, the analyst in coverage lifted its 2020-2021 earnings estimates for Activision, and pra...Read More
Teva just agreed to an $85 million settlement with the state of OklahomaDrugmaker Teva Pharmaceutical Industries Inc. (NASDAQ:TEVA) settled a lawsuit filed by the state of Oklahoma, accusing TEVA -- and other pharmaceutical firms -- of fueling the opioid epidemic through marketing of its generic painkillers. Teva agreed to pay an $85 million settlement. The stock is down 1.8% at $10.68, in respons...Read More
Tanzania will no longer allow Acacia Mining Plc to manage its mines in the country and will only work with the company's parent, Barrick Gold Corp., to resolve the two-year impasse that has stymied operations, a government spokesman said."We will no longer work with Acacia," Hassan Abbasi said Tuesday by phone. "Under no circumstances can Acacia be a party to the agreements, or have any role in th...Read More
Tanzania will no longer allow Acacia Mining Plc to manage its mines in the country and will only work with the company's parent, Barrick Gold Corp., to resolve the two-year impasse that has stymied operations, a government spokesman said."We will no longer work with Acacia," Hassan Abbasi said Tuesday by phone. "Under no circumstances can Acacia be a party to the agreements, or have any role in th...Read More
China is seeking to lower domestic coal prices to aid power producers, and has proposed that miners bring the benchmark grade to below 600 yuan ($87) a ton, according to people with knowledge of the matter.The National Development & Reform Commission made the proposal to coal producers after six major utilities sought the government's help to reduce their raw material costs in order to deliver a c...Read More
Beyond Meat will begin producing its products in Europe next yearIt's been a busy first month on the public market for Beyond Meat Inc (NASDAQ:BYND), and the action's continuing today. BYND stock is trading up 4.3% at $83.10, as investors respond to news that the company is expanding its partnership with Zandbergen World's Finest Meat to create the company's first production facility outside the U...Read More
An owner of Uganda's only tungsten mine is suing the International Tin Association for defamation, saying the certifier wrongly accused it of trading in conflict minerals, court documents seen by Reuters show.The association's International Tin Supply Chain Initiative (ITSCI) programme, used by companies such as Apple, was introduced after the 2008 financial crisis to certify minerals in response...Read More
Mosaic Company's unit said on Tuesday it resumed mining operations at its Catalao mine in Brazil, following suspension of production in April.The unit, Mosaic Fertilizantes, had stopped production at its Tapira and Catalao phosphate mines after failing to obtain a deadline extension for providing stability certification for three of its tailings dams.Mining regulations in Brazil have been affected...Read More
The brokerage firm also slashed its GILD price targetGoldman Sachs downgraded Gilead Sciences, Inc. (NASDAQ:GILD) to "sell" from "neutral," and slashed its price target by $10 to $60 -- a discount to last Friday's close at $66.89. The brokerage firm said it sees short-term deceleration in the drugmaker's top-line growth, and said it will likely take time for GILD's new CEO to rebuild the company's...Read More
The 10-year Treasury yield fell to a 19-month low Fresh off a fifth straight weekly loss, Dow Jones Industrial Average (DJI) futures are trading just above fair value this morning. In Tokyo yesterday, President Donald Trump said the U.S. was "not ready" for a trade deal with China, and implied steeper tariffs on Chinese imports could be on the way. As trade tensions linger without a resolution, t...Read More
Tanzania intends to collect 470.9 billion shillings ($205.5 million) from minerals in 2019-20, compared with a projected income of 310.6 billion shillings in the fiscal year ending June 30.The East African nation plans to boost production and exports, open new mineral trading centers, curb smuggling and ensure closer supervision of the industry, Mining Minister Doto Biteko told lawmakers Monday. B...Read More
Nasdaq Commodities will introduce a new trading system for its members where price quotes will be provided on request, the exchange said in a statement on Tuesday.Called Request for Quote Trading System or RFQ, the system will go live from June 10, subject to successful testing and regulatory approval."The new RFQ Trading System will introduce a new way of conducting trading on a private and exclu...Read More
Brazil mining giant Vale (NYSE: VALE) said Tuesday the risk of a new dam break as a consequence of an unstable embankment at its nearby Gongo Soco open pit, in the southeastern state of Minas Gerais, had decreased.The miner and emergency services had warned that a section of the now defunct mine had an estimated 10% to 15% chance of disintegrating. If that happened, Vale had said, it would ruptu...Read More
What you need to know about this developing S&P triangle pattern"The proportion of investors preparing for equity falls is the highest in the survey's history, BAML said, noting that trade war was seen as the main risk by 37% of participants, followed by a Chinese slowdown which was picked by 16%."-- Reuters, May 15, 2019The Reuters excerpt above, also highlighted in last week's commentary, is one...Read More
Portofino Resources (TSXV:POR) made public this week initial sampling results from its Yergo lithium brine project, located at the Aparejos salar in the province of Catamarca, northwestern Argentina.In a press release, Portofino said that the exploration program consisted of surface and near-surface brine sampling and geological mapping. "Hand augers were utilized to obtain the brine samples from...Read More
The government of New South Wales in southeastern Australia issued a communiqu?(C) stating that the state's Independent Planning Commission found that Hume Coal needs to address certain environmental and social issues before receiving approval for the construction of an underground mine.In detail, the subsidiary of South Korea's Posco is seeking planning approval to build and operate a large under...Read More