Jordan Roy-Byrne CMT, MFTAThe historic action of the precious metals sector over the past few weeks has continued.The strong recovery in GDX, GDXJ, and Silver has potentially invalidated the technical breakdown that occurred during the crash. It appears to be a failed breakdown.Furthermore, Gold was looking vulnerable on the weekly, and monthly chart yet was able to slingshot back to $1700/oz. I...Read More
Gary Savage Perma-bears are going to wrong. This is why:Read More
Ira EpsteinGold still has a bullish pattern in the short-term. Support around $1595..Read More
Range bound trade in gold and silver will be broken by tomorrow and a new range will be formed. A new month and a new quarter high on economic optimism but low on confidence. Uncertainty on global economy and inability to prevent coronavirus spread has resulted in gold remaining firm and crude oil and industrial metals trading with a softer bias. Spot gold should have broken past $1700. By the s...Read More
PRIVATE BLOG - Gold for the Close of the 1st QuarterPrivate blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.https://ask-socrates.com/Read More
The world suddenly finds itself tipped into the gravest crisis since the 2nd World War, and with respect to the global economy it is actually far worse, because the financial system was teetering on the verge of collapse even before the coronavirus epidemic surfaced as a result of the exponential growth of debt and derivatives - so the virus epidemic and the reaction to it has simply acted as a...Read More
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." Benjamin Franklin, writer, printer, political philosopher, politician, Freemason, postmaster, scientist, inventor, humorist, civic activist, statesman, diplomat, one of the Founding Fathers of the United States; 1706-1790 "These are the times that try men's souls." Thomas Pa...Read More
Strengths? ? The best performing metal this week was palladium, up 37.90 percent, essentially regaining all the losses from the prior two weeks. Platinum and silver also rebounded strongly. Gold headed for its biggest weekly gain since 2008 while platinum and palladium were on track for their biggest weekly increases on record. It was a smashing week for precious metals due to supply...Read More
By Avi GilburtOn Thursday, we saw the worst jobless claims number in history (and by far). Yet, the S&P500 futures rallied over 200 points from their overnight lows. So, are we to believe that the "cause" of that rally was the jobless claims?I can assure you that if the market dropped 200 points there would be no question in your mind that the drop was certainly caused by the jobless claim's ann...Read More
Oil dropped to an 18-year low as global demand fellThe Dow kicked off the week with an almost 700-point surge, roaring to its session highs in the last minute of trading. Measures to combat the coronavirus are in focus today, after President Donald Trump extended social distancing measures in the U.S. until April 30, and Johnson & Johnson (JNJ) announced an encouraging COVID-19 vaccine update. The...Read More
Zoom and Carnival are on opposite sides of the spectrum right now The20 stocks listed in the table below have attracted the highest weekly options volume during the past 10 trading days, with data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. Stocks highlighted in yellow are new to the list. Two names that stick out are Zoom Video Communications Inc (NASDAQ:ZM) and Carnival Corp...Read More
AMZN is facing off with a key trendline todayLast week, we profiled the best performing stocks since 2009, based on annualized returns. It's no surprise FAANG stock Amazon Inc (NASDAQ:AMZN) found itself on that list, boasting a return of 36.8%. Looking towards the future now heading into a new month, Schaeffer's Senior Quantitative Analyst Rocky White broke down the best S&P 500 stocks to own in A...Read More
The Dow is up over 440 pointsThe Dow Jones Industrial Average (DJI) is continuing its surge after a triple-digit open, expanding on Friday's weekly win for indexes. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are also in the black, after social distancing measures were extended to April 30 by U.S. President Donald Trump on Sunday. Bracing for another volatile week, sentiment was also boos...Read More
Dramatic swings in sentiment have caused indicators to flip-flop from bearish slanting to bullishly alignedIn the December 2019 edition of The Option Advisor, published on November 22, 2019, we at Schaeffer's highlighted option indicators that were flashy warning signs for the broad market.Inserted below is the concluding paragraph of that article:As always, we must consider these indicators in...Read More
Ulta has closed all of its stores until further notice Cosmetics retailer Ulta Beauty Inc (NASDAQ:ULTA) is in the spotlight today after announcing the temporary closure of all its stores until further notice. The company said that its employees will continue to receive benefits, and will be paid until mid-April. Ulta added that it will continue to operate online and plans on giving its distributio...Read More
Johnson & Johnson hopes to have 1 billion doses available by early 2021Johnson & Johnson (NYSE:JNJ) is the top Dow stock this morning, up 5.5% at $129.86, after the company announced that its experimental vaccine for the coronavirus will be ready for human testing by September, while the drug's availability for widespread emergency use will be ready in early 2021. Additionally, the drugmaker said...Read More
The company reported a third-quarter earnings beatCal-Maine Foods Inc (NASDAQ:CALM) is up 0.5% this morning to trade at $42.61, after reporting a third quarter earnings beat. The fishing and farming company announced profits of 28 cents per share, higher than Wall Street's estimated 18 cents per share. Cal-Maine Foods' also reported revenue that came in above estimates. The company stated that the...Read More
Last week's wild surge isn't over yet, it would seem Futures on the Dow Jones Industrial Average (DJI) are looking at a triple-digit open this morning, right on the heels of one of Wall Street's wildest trading weeks ever. Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) futures are also higher before the bell. More volatility on Wall Street could be in the cards this week, with investors looki...Read More
The world suddenly finds itself tipped into the gravest crisis since the 2nd World War, and with respect to the global economy it is actually far worse, because the financial system was teetering on the verge of collapse even before the coronavirus epidemic surfaced as a result of the exponential growth of debt and derivatives - so the virus epidemic and the reaction to it has simply acted as a...Read More
To Watch Update #59, CLICK HEREThe world has been fighting covid-19 long enough that we are beginning to arrive at some constructive conclusions. Part of the intense infectiousness of this virus is due to its long asymptomatic phase, where hosts feel fine but are shedding contagious particles. Increased testing is now showing that the majority of folks testing positive don't realize they're sick....Read More