4/24/20Gold MinersOn a technical note, GDX, GDXJ, and SIL (silver miners), put in a bearish "doji" yesterday on the daily charts. The "wick" that you can clearly see, most times indicates we've hit a temporary top in the larger gold and silver miners. I don't expect much of a pullback, but if you're looking to buy into producers that you missed much cheaper, you may get a slight discount from here...Read More
The recent economic reports show that the current coronavirus crisis will be bigger than the Great Recession. What does it imply for the gold market? US Economic Data Paints a Gloomy PictureThis week was full of new reports about the US economy. And guess what, I don’t have good news… First of all, let’s start with the update about the weekly initial unemployment benefits. In no...Read More
After a long term bear market in most commodity related stocks we are starting to hear analyst talk about inflation. From a Chartology perspective the deflationary scenario is still in play but how much lower can this sector go? In tonights Weekend Report, I’m going to update some long term commodity charts we’ve been following for years to see where they are currently trading in their...Read More
The recent economic reports show that the current coronavirus crisis will be bigger than the Great Recession. What does it imply for the gold market? US Economic Data Paints a Gloomy PictureThis week was full of new reports about the US economy. And guess what, I don’t have good news… First of all, let’s start with the update about the weekly initial unemployment benefits. In no...Read More
After a long term bear market in most commodity related stocks we are starting to hear analyst talk about inflation. From a Chartology perspective the deflationary scenario is still in play but how much lower can this sector go? In tonights Weekend Report, I’m going to update some long term commodity charts we’ve been following for years to see where they are currently trading in their...Read More
The recent economic reports show that the current coronavirus crisis will be bigger than the Great Recession. What does it imply for the gold market? US Economic Data Paints a Gloomy PictureThis week was full of new reports about the US economy. And guess what, I don’t have good news… First of all, let’s start with the update about the weekly initial unemployment benefits. In no...Read More
After a long term bear market in most commodity related stocks we are starting to hear analyst talk about inflation. From a Chartology perspective the deflationary scenario is still in play but how much lower can this sector go? In tonights Weekend Report, I’m going to update some long term commodity charts we’ve been following for years to see where they are currently trading in their...Read More
The recent economic reports show that the current coronavirus crisis will be bigger than the Great Recession. What does it imply for the gold market? US Economic Data Paints a Gloomy PictureThis week was full of new reports about the US economy. And guess what, I don’t have good news… First of all, let’s start with the update about the weekly initial unemployment benefits. In no...Read More
Gold, oil both rose for second straight sessionThe Dow scraped together a 40-point win, as earlier gains were slashed after documents were published on Gilead Science's (GILD) potential coronavirus treatment remdesivir, which drew disappointing results. However, Gilead claims the results of the drug's trial remain "inconclusive." The S&P 500 and Nasdaq slippedbelow breakeven in the final minutes...Read More
Intel's first-quarter earnings report is due out after the close todayThe shares of Dow component Intel Corporation (NASDAQ:INTC) are down 1.4%, to trade at $59.30 this afternoon,just ahead of the firm's first-quarter earnings report, which is due out after today's close. Below, we'll dig into how INTC has fared after past quarterly earnings reports, and take a look at the sentiment currently sur...Read More
Freeport-McMoRan is expected to enter the earnings confessional before the bell tomorrow Freeport-McMoRan Inc (NYSE:FCX) is up 4.7% at $7.99 today, as investors anticipate the copper mining concern's first-quarter earnings report, due out before the open tomorrow, April 24. It's been a rocky week for commodities, as Wall Street nervously eyes mining stocks amid oil's historically devastating plu...Read More
Las Vegas Sands predicted a speedy recovery for its Asian locations, despite new social distancing measures Casino concern Las Vegas Sands Corp. (NYSE:LVS) is in the spotlight this morning after posting first-quarter losses of three cents per share, and $1.78 billion in revenue, missing analysts' estimates. Despite the miss, the stock is up 10.9% at $41.03, bolstered by the firm's prediction of a...Read More
Over the last five weeks, over 26 million Americans have now filed for unemploymentThe Dow Jones Industrial Average (DJI) is on track for another positive afternoon, up more than 250 points at last check. The blue-chip index has gained traction at midday despite another expectation-toppingweekly jobless claims report this morning. Combining this most recent report with the previous four, the t...Read More
Tyson is closing a major subsidiary in order to test its employees for COVID-19 Meat production suffered another blow today, as Tyson Foods, Inc. (NYSE:TSN) announced the closure of two of its major U.S. pork plants in order to contain the spread of the coronavirus. This includes a subsidiary in Indiana, while over 2,000 of its employees undergo testing. This has led to other locations picking up...Read More
HSY reported first-quarter earnings of $1.63 per shareShares of Hershey Co (NYSE:HSY) are down 5.3% to trade at $138 this morning, sitting out the broad market rally. The candy king is lower after reporting first-quarter earnings of $1.63 per share on revenue of $2.04 billion -- both lower than Wall Street's respective estimates of $1.71 per share and $2.08 billion. Also dragging HSY is a huge sal...Read More
The retailer indicated it may not be able to weather the economic effects of the coronavirus Gap Inc (NYSE:GPS) made it clear this morning that it's having a hard time weathering the hard-hitting economic effects of the coronavirus. The retailer said it might not have enough funds to continue operations into the next year, and that cutting costs and raising money by issuing debt would be necessar...Read More
Oil prices appear ready to resume their rallyDow Jones Industrial Average (DJI) futures are muted this morning, as Wall Street unpacks the latest weekly jobless claims. Last week's report showed a 4.4 million increase in unemployment filings, topping the 4.3 million expectation and completely erasing all job gains since November 2009. Futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX...Read More
VZ's post-earnings price history has been mostly negativeShares of Verizon Communications Inc (NYSE:VZ) have distanced themselves from their late-March sell-off, and are now up 15.6% for the month. At last check, VZ is up 2.2% trading at $58.05 due in part to an long-term agreement the company came to with Clearway Energy (CWEN) in which the two companies will finance the construction of new wind...Read More
captainewaveemail: admin@captainewave.comwebsite: www.captainewave.comApril 22, 2020SP500: Long Term Update:If our wave iv irregular type corrective pattern is the correct analysis, then it is complete at the 2191.86 low and the SP500 is now poised to rally to all time new highs again in wave v, as shown on the weekly SP500 chart. If we are now rallying in wave v, then our current count...Read More
It's been three years since I made the trek up to Seattle to interview celebrated short seller Bill Fleckenstein on the topics of, "Central Bankers, Financial Bubbles and White Burgundy." With a global pandemic now threatening to burst these bubbles, forcing central bankers into even more extreme monetary policies, I thought it was an opportune time to reconnect with Bill and get his thoughts on h...Read More