By: Ira EpsteinAbbreviated trading sessions coming up with the holiday coming up. Traders will even up. When you take a look at gold, consolidating into a pattern of..Read More
To be bullish or not to be – thatis the question. Or it might have been the question, if someonenamed Shakespeare wrote a piece titled Investhamlet.The choice whether to be bullish or bearish orneutral on a given asset should be made each day, each time based on theinformation that is currently available. Let’s check the new signs that we sawyesterday. First of all, we just saw a beari...Read More
By Jordan Roy-ByrneThe precious metals sector may have begun a correction on Wednesday. The miners (GDX, GDXJ) sold off after reaching significant resistance levels while the metals are trading just below significant resistance levels. We mentioned these targets in our article last week.GDXJ has pulled back a bit after testing 7-year resistance while GDX has pulled back after hitting a key piv...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort295,39443,60639,245133,715423,889468,354506,740Change from Prior Reporting Period 17,6238,6634,0877,69219,33329,40232,083Traders22060846060318172 Small Speculators (C) GoldSeek.com LongShortOpen Interest 59,85121,465528,205 2,064-61731,466 non reportable positionsChange from t...Read More
The mid-tier gold miners in the sweet spot for stock-price upside potential have enjoyed a massive run since mid-March's stock-panic lows. They've already more than doubled in the couple months since! Their just-released Q1'20 operational and financial results reveal whether these huge gains are righteous fundamentally, whether this uptrend is likely to persist, and how COVID-19 shutdowns ar...Read More
By Richard (Rick) Mills"There is a Chinese curse which says 'May he live in interesting times.' Like it or not we live in interesting times. They are times of danger and uncertainty; but they are also more open to the creative energy of men than any other time in history." - President John F. Kennedy, in a speech in Cape Town, South Africa, in 1966 JFK's "Chinese curse" meme seems appropriate...Read More
By: Ira EpsteinAbbreviated trading sessions coming up with the holiday coming up. Traders will even up. When you take a look at gold, consolidating into a pattern of..Read More
To be bullish or not to be – thatis the question. Or it might have been the question, if someonenamed Shakespeare wrote a piece titled Investhamlet.The choice whether to be bullish or bearish orneutral on a given asset should be made each day, each time based on theinformation that is currently available. Let’s check the new signs that we sawyesterday. First of all, we just saw a beari...Read More
To be bullish or not to be – thatis the question. Or it might have been the question, if someonenamed Shakespeare wrote a piece titled Investhamlet.The choice whether to be bullish or bearish orneutral on a given asset should be made each day, each time based on theinformation that is currently available. Let’s check the new signs that we sawyesterday. First of all, we just saw a beari...Read More
By: Ira EpsteinDoes crude oil have much room to rally from here? Gold is not down much from its recent 7-year highs. You can see the tighter range in the market in consolidation..Read More
AMZN, NFLX, and AAPL all ended in the redAfter spending most of the day waffling below breakeven, the Dow settled roughly 100 points lower, as Wall Street weighed mixed economic data that included another spike in weekly jobless claims. A new wave of U.S.-China tensions is also spooking traders,alongside a new bill that could delist Chinese companies on U.S. exchanges. The resurgent tech sector...Read More
Royal Caribbean is in a better financial position than sector peersThe shares of Royal Caribbean Cruises Ltd (NYSE:RCL) are up 7.4% to trade at $43.66 today, after receiving a price-target hike to $52 from $48 from Stifel, and an initiation of coverage at Credit Suisse of "outperform" alongside a $67 price target. While its sector peers continue to struggle thanks to coronavirus-related lockdown...Read More
NWL is staring up at stiff resistance to bootYesterday, we chronicled the best S&P 500 stocks to own during Memorial Day week, historically. Now, Schaeffer's Senior Quantitative Analyst Rocky White is back to give us the worst 25 stocks to own during the holiday-shortened week. Leading the charge is Newell Co (NASDAQ:NWL), boasting particularly lackluster Memorial Day week returns in the last 10...Read More
L Brands plans on closing 250 Victoria's Secret stores this yearL Brands Inc (NYSE:LB) just reported first-quarter losses and revenue that missed analysts' estimates. The apparel retailer's Victoria's Secret branch, which has been steeped in controversy lately, saw its sales for the first-quarter cut in half, while its Bath & Body Works sales dropped by 18%, with both branches hit hard by coronav...Read More
Weekly jobless claims will be at the forefront once againMay ends with a week packed of economic reports and earnings, although the window to squeeze everything in is tightened by Memorial Day on Monday. As the recent past has shown, investors will be glued to their screens on Thursday as another weekly jobless claims report comes out. Additionally, the last week of the month will feature a revise...Read More
The Dow is down nearly 145 points middayThe broad market's rally appears to be breaking today, with the Dow Jones Industrial Average (DJI) down nearly 200 points midday. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also in the red, as weekly jobless claims, U.S.-China tensions, and a dip in FAANG stocks weigh. However, positive sentiment remains over states easing lockdowns, and data fr...Read More
EXPE reported a revenue beat and a wider-than-expected loss for its first quarter The shares of Expedia Group Inc (NASDAQ:EXPE) are down 1.5% at $78.40 at last check, after the company reported wider-than-expected first quarter losses for share. However, the company also announced a revenue beat, and forecast a rebound for May as cancellations stabilize. Following the news, analysts chimed in with...Read More
Medtronic's fourth-quarter earnings and revenue fell short of analysts' estimatesMedtronic PLC (NYSE:MDT) entered the earnings confessional this morning, but came up short of Wall Street's estimates. The shares of the medical technology and services company are down 1.5% to trade at $96.64, after posting fourth-quarter profits of 58 cents and revenue of $6 billion, both well below analysts expect...Read More
Mastercard said its employees will not have to return to offices until it is safe to do soMore and more companies are jumping on the trend of allowing their employees to do remote work for the foreseeable future, even as lockdown restrictions are being lifted. The list includes Twitter (TWTR), Visa (V), American Express (AXP), and now Mastercard Inc (NYSE:MA). While not as extreme as Twitter, whi...Read More
The Senate passed legislation that could bar Chinese companies from publicly listing in the U.S. Dow Jones Industrial Average (DJI) futures are down this morning, almost 100 points below breakeven. This fall comes on the heels of news that weekly jobless claims rose by 2.44 million -- just a hair above the 2.40 million estimates -- for what marks now 10 straight weeks of declines. Futures on t...Read More