Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 272,19653,16237,007108,654365,277417,857455,446 Change from Prior Reporting Period -15,9522,928-2,944-23,323-41,022-42,219-41,038 Traders 20260715556284161 Small Speculators LongShortOpen Interest 57,88820,299475,745 -1,410-2,591-43,629 non reportable pos...Read More
The gold miners' stocks just rolled over into a correction, raising concerns about the staying power of their massive post-panic upleg. These higher prevailing gold prices have driven very-strong fundamentals at the gold miners. But they are entering the seasonally-weak summer doldrums. And current sentiment and technicals play major roles in governing when uplegs remain healthy or ready...Read More
"Well, now that we have seen each other," said the unicorn, "if you'll believe in me, I'll believe in you." - Lewis Carroll, "Through The Looking Glass""The greatest trick the devil ever pulled was convincing the world he didn't exist." - Keyser S?ze, "The Usual Suspects"By: Dave KranzlerThe employment report is a complete fraud. But as long as the market and it's army of mainstream story-tell...Read More
By: Ira EpsteinGold is in a correction, but strong supports in the $1,600's:Read More
The new company, Reyna Silver, holds projects in prolific mining districts that have been spun out from MAG Silver. Reyna Silver Corp. (RSLV:TSX.V) will complete a reverse takeover (RTO) with Century Metals Inc. and begin trading on Monday, June 8, on the TSX Venture Exchange, under the symbol RSLV.The explorer holds several properties, most notably the flagship Guigui as well as Batopilas, both...Read More
DOWNSIDE POSSIBILITIES FOR GOLD PRICEThere is a correlation of gold’s increasing price relative to the declining value of the US dollar. The chart (source for all charts) below shows this inverse relationship clearly… Over time, as the US dollar continues to lose value, the price of gold continues to increase. Seemingly, it would be worthwhile to just buy gold and wait for the i...Read More
The precious metals sector was likely to decline,and it did exactly that. And based on what we just saw, it’s likely to declineeven more.Once again, the situation yesterday and so fartoday developed quite in tune with what we wroteyesterday, so today’s analysis will take form of a broad update.Let’s take a look at the GLD ETF. In yesterday’s and Monday’s analyses, wed...Read More
The most important measure for an economy, its recoveryor advancement is employment - that is, the availability of good-paying jobs. When citizens have jobs, they earn an income withwhich they can pay for their needs, and pay taxes to the government for itsneeds. So jobs and income, are the keydeterminants of a healthy, modern consumer-driven economy. Over the last several decade...Read More
The most important measure for an economy, its recoveryor advancement is employment - that is, the availability of good-paying jobs. When citizens have jobs, they earn an income withwhich they can pay for their needs, and pay taxes to the government for itsneeds. So jobs and income, are the keydeterminants of a healthy, modern consumer-driven economy. Over the last several decade...Read More
RambusFrom the March 23rd low in the PM complex we've enjoyed the first easy part of this rally that should have many years to run yet. Every bull market will consist of an impulse move followed by a consolidation period, rinse and repeat until the bull market ends with some type of reversal pattern. Normally in a secular bull market the turning points will generally be very large to buildup the...Read More
By: Ira EpsteinGold still not in a new trend short-term, higher high and lower low. If sell-off continues, the 100 DMA is near $1,655:Read More
Big tech companies led the declines todayIn a sharp turn from an optimistic start to June, Wall Street's disappointment with jobs data took its toll, sending stocks mostly lower to close out the day, snapping a four-day win streak for the Nasdaq and for the S&P 500. The Dow barely scraped together an 11-point gain, while the SPX and Nasdaq dropped off, as shares from FAANG stocks Facebook (FB), A...Read More
SPX's standard deviation is usually slimmer-than-usual after major protestsAlthough it may not be as conspicuous on Wall Street, Main Street has been gripped by the protests and civil unrest overthe death of George Floyd. All 50 states have engaged in protests against police brutality and systemic racism since late May, and the tensions have been exacerbated by U.S. President Donald Trump's thre...Read More
Deutsche Bank raised its price target to $57 from $28The shares of casino stock Eldorado Resorts Inc (NASDAQ:ERI) are up 8% at $41.98, after receiving a price-target hike from Deutsche Bank to $57 from $28. The firm said though that many investors believe the sector could be in for a rough patch, due to social distancing and the long-term economic effects of coronavirus, it sees "new margin peaks...Read More
J M Smucker's fourth-quarter profits and revenue were better than Wall Street expectedThe shares of J M Smucker Co (NYSE:SJM) are down 4.2%, last seen trading at $109.09, despite the food and beverage manufacturer reporting fiscal fourth-quarter profits of $2.57 on revenue of $2.09 billion. Both top-line results were higher than analysts' estimates, thanks to increased consumer demand resulting...Read More
Implied volatility on FDX options is at historically low levelsShipping giant FedEx Corporation (NYSE:FDX) is in the news today, after announcing it was tacking on delivery fees to U.S. shipments. The move represents an effort to combat lagging business amid the coronavirus pandemic and subsequent shutdown of the economy. At last check, FDX is down 1% to trade at $136.61, but the trouble could jus...Read More
REGN is up 106.5% in the last nine months, but already down nearly 2% in JuneOver the past two weeks, we've been exploring some of the best S&P 500 stocks to own in June, historically. Now, with help from Schaeffer's Senior Quantitative Analyst Rocky White, we'll shift gears and focus on 25 of the worst performers this month, looking back over the past 10 years. One notable name on the list is Reg...Read More
The Dow is trading just below breakeven at middayStocks are struggling for direction at midday, with the Dow JonesIndustrial Average (DJI), S&P500 Index (SPX), and Nasdaq Composite (IXIC) all sporting shallow losses. The tech-heavy Nasdaq-100 Index earlier hit a new record high and there's optimism following the European Central Bank's historic stimulusprogram, but worse-than-expectedjobless...Read More
Nio stock hit a record high in vehicle deliveries for MayThe shares of Nio Inc (NYSE:NIO) are up 5.2% at $5.89 at last check, following a report on May deliveries and an announcement by chief financial officer Steven Feng that the company expects to achieve its second-quarter delivery goal. The China-based electric vehicle manufacturer delivered 3,436 vehicles in May, a record high, which led to a...Read More
Simon Property Group is suing apparel retailer Gap for overdue rent and other chargesThe shares of Simon Property Group Inc. (NYSE: SPG) are up 2.4% at $74.57 this morning, after the biggest mall owner in the country sued apparel retailer Gap (GPS) for more than $65.9 million in missed rent payments and overdue charges, according to a lawsuit filed Tuesday in Delaware state court. Gap is not the...Read More