All major indexes fell todayIn its worst day since March, the Dow dropped over 1,800 points after a spike in coronavirus cases leaves investors worried about a second wave, with now over 2 million in the U.S., according to data from Johns Hopkins University. Most notably, Texas has reported record-breaking COVID-19 hospitalizations for three consecutive days. Shares of stocks directly related to t...Read More
Beyond Meat announced expanded production capability with a new facility in the NetherlandsThe shares of Beyond Meat Co (NASDAQ: BYND) are down 6.9% at $143.72 this afternoon after the meat-alternative brand announced expanded local production capabilities in Europe through its first co-manufacturing facility in the Netherlands. The facility will produce the company's signature plant-based burge...Read More
The entertainment name is expected to post its first-quarter results after the close this eveningDave & Buster's Entertainment Inc (NASDAQ:PLAY) is in hot water ahead of its first-quarter earnings report, due out after the close this evening. The stock is down 15.02% at $14.71 this afternoon, pacing for its third consecutive win. On top of that, the equity is eyeing its first close south of the te...Read More
Attention will be focused on retail sales and weekly jobs dataThe economic calendar is looking somewhat bare next week, though investors will definitely have their eyes on another weekly employment update on Thursday, as well as retail data earlier in the week -- two indicators that have helped gauge the economic environment as lockdown measures continue to ease in the U.S. Elsewhere, the Organiza...Read More
Puts are double the usual volume in the options pitsLululemon Athletica Inc (NASDAQ:LULU) is set to enter the earnings confessional after the close today, June 11, posting its fiscal first-quarter results. The stock is down 3.6% ahead of the event, despite no fewer than five price target hikes this week, including from MKM Partners to $378 from $230.Despite the dip, LULU is still up 84.3% in the...Read More
A spike in coronavirus cases is sparking a selloff in the retail and airline sectorsThe Dow Jones Industrial Average (DJI) is down over 1,000 points at midday, as retail and flight stocks plummet amid a spike in coronavirus cases. While stay-at-home staples like Zoom (ZM) and Netflix (NFLX) are getting a boost on renewed anxieties surrounding thepandemic, it's not enough to help the tech-heavy...Read More
The EU filed charges against Amazon regarding the company's treatment of third-party sellersThe European Union (EU) is filing formal antitrust charges against Amazon.com, Inc. (NASDAQ:AMZN) alleging the e-commerce giant used data from third-party sellers to launch competing private-labels, according to Wall Street Journal sources. According to another report, if AMZN is found guilty, it could b...Read More
Just Eat Takeaway is planning on buying GrubHub in an all-stock dealIt was just announced that British-based food delivery name Just Eat Takeaway (JET) agreed to buy GrubHub Inc (NYSE:GRUB) in an all-stock deal worth $7.3 billion at JET's Tuesday closing price. Just Eat Takeaway beat out Uber Technologies (UBER) which was also vying for a deal with GrubHub. Meanwhile, GrubHub sent an email to empl...Read More
The most magical place on earth will reopen Disneyland Park and Disney California Adventure on July 17The shares of Walt Disney Co (NYSE: DIS) are down 3.6% at $117.68 this morning, after the so-called "most magical place on earth" announced it will reopen Disneyland Park and Disney California Adventure on July 17, pending approval from local and state authorities. The California theme parks h...Read More
There's been a spike in coronavirus cases in California and TexasFutures on the Dow Jones Industrial Average (DJI) are down over 800 points this morning, as Wall Street gets rocked by fears of a potential second wave of coronavirus amid a spike in cases from states such as California and Texas. Accordingto Johns Hopkins University, COVID-19 cases have crossed the 2 million mark, with over 112,000...Read More
Bob Moriarty ArchivesJun 11, 2020The investing climate today is far more dangerous than I have ever seen in my life. Last week American Airlines shares doubled in four days. That has never happened in history. Hertz, which just happens to be in bankruptcy, went from $.82 to $5.62 in four days. That’s pretty remarkable for a stock soon to be valued at an even ZERO.I’m going to format th...Read More
Bob StokesElliottWave InternationalPosted Jun 11, 2020Watching out for sentiment extremes helps you avoid getting "caught up with the crowd"Simply put, a market sentiment extreme is a situation when most everyone has already taken a bullish or bearish position in a financial asset, leaving almost no one left to buy or sell.Silver provides an excellent case study.Let's briefly go back to April 18,...Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeekEquinox has been and currently is one of the premier mid-tier gold producers because of I) its people, management and BOD, most notably Chairman Ross Beaty, II) its assets: a nice portfolio of assets with material organic growth potential and significant exploration upside, III) its near and medium-term growth profile [which will see out...Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeekEquinox has been and currently is one of the premier mid-tier gold producers because of I) its people, management and BOD, most notably Chairman Ross Beaty, II) its assets: a nice portfolio of assets with material organic growth potential and significant exploration upside, III) its near and medium-term growth profile [which will see out...Read More
By: Gary Savage Gold attacked last Friday, right on que. Gold is churning $1800 resistance zone. Banks still stuck in this huge short position:https://blog.smartmoneytrackerpremium.com/Read More
David Haggith The first graph gives you a glimpse of the "huge jobs rebound" that shocked the stock market into spurting past its 200 DMA barriers because retail investors and algos aren't looking past the headlines.The second graph below shows you what a tiny difference that made to the total number of jobs that were lost:Some recovery, huh?In broader context, that looks like this:Why the drama...Read More
By: Ira EpsteinGold is $20 from new close highs! Gold negated downtrend on Tuesday, Wednesday trying to build an uptrend. The $1733 area is support on the 18-dma:Read More
Gold is on the way to $1836.70. Comments by Federal Reserve chairman at the Federal Reserve meeting is the reason. Correction of gold price in US session will come only if US weekly jobless numbers beats street expectations by a big margin. Selling gold and silver on the basis of US May nonfarm payrolls has resulted in short covering yesterday post FOMC surprise. I was focused more on copper and...Read More
Omineca Mining and Metals aims to culminate its 2020 program with drilling. Omineca Mining and Metals Ltd. (OMM:TSX.V; OMMSF:OTCMKTS) announced in a news release it commenced field work at its Wingdam hardrock gold project in British Columbia's Cariboo mining district after completing an oversubscribed financing.For this work, the Saskatoon, Saskatchewan-based exploration company appointed Steph...Read More