If you're feeling depressed because your retirement fund has been cut in half by the Covid-19 avalanche on Wall Street, take heart because you may have a good chance to get it back. Yeah, I know, I wrote here only last week that the bear market would stretch on for years, bankrupting us all and ushering in the Second Great Depression. But watching the spectacular collapse of Boeing shares has ma...Read More
The fall in gold will clear some short term investors and also result in a big increase in long term investors. Both gold and silver are good long term investment opportunities. In the short term gold and silver will see a see-saw type prices moves like yesterday. Global financial markets have to stabilize for gold and silver to for a short term direction. In the very short term both gold and si...Read More
I got pelted with garbage after the last (bearish) update was posted on the 1st because right after, gold zoomed back up following a $75.80 plunge, as we can see on its latest 3-month chart below, and this "swansong rally" even made it to a marginal new high, but it did not negate the bearish implications of the late February plunge. In the last update it was written "This kind of massive smackd...Read More
By Avi GilburtI have to tell you that the last 6 months in this market have been the most unusual of my career as a public analyst. And I tried warning many of you of the potential, yet most chose to deride my perspective, as many got suckered into the biggest fake-out I have ever seen in the market.In my analysis published on emerging markets back in early February entitled "Sentiment Speaks: E...Read More
By: Ira EpsteinT.A. LOOK: Gold monthly chart: momentum pointing down, trend is up. Weekly chart: $1,535 / 18 week moving average was the support and it basically hit it on Friday. Weekly uptrend is over. Does not mean the market is bearish..Read More
Gary SavageCrash webinarI will do a webinar Tuesday morning outlining why this market crash occurred, the tools I used to predict it ahead of time, a brief tutorial on cycles, and where I think we're going from here (we're due for a convincing bounce soon) and also what I think is in store for the metals market over the next month. The price of the webinar is $50 this will include a 1 month sub...Read More
Gold rose to high of $1574.80 and silver rose to a high of 1524.50 after the Federal Reserve slashed interest rates to near to and pledged hundreds of billions of dollars in asset purchases. Interest rate option is also now over for the Federal Reserve after this interest rate cut. There is more or less a global lockdown. There was a mad rush for cash. Traders and investors alike sold everything...Read More
Oil and gold also began the week with big lossesThe Dow began the week deep in the red, turning in its worst percentage loss since 1987. The blue-chip index plunged nearly 3,000 points -- hitting its lowest point since April 2017 -- even after the Federal Reserve cut interest rates to nearly zero to help offset the damage done by the coronavirus. The S&P 500 and Nasdaq both joined the Dow with lo...Read More
A surging demand for Clorox products has put analysts on high alert With the massive demand for hand sanitizer, trash bags and other cleaning products wiping the headlines, its no surprise that Clorox Co (NYSE:CLX) is one of the few stocks bucking the broadmarket trend today. The equity is up 2.9% at $172.44, set to close back atop its 20-day moving average after a brief dip below here late last...Read More
UBS Group cut its price target on FedEx to $141 from $187With earnings due out after the close tomorrow, March 17, FedEx Corporation (NYSE:FDX) is struggling to overcome today's steep selloff, last seen down 11.6% at $94.24. Not helping matters is a price target cut from UBS Group to $141 from $187, though this new forecast still stands much higher than FDX's current perch. UBS' bear note puts t...Read More
Most analysts remain skeptical, thoughEverywhere you look on Wall Street, stocks are swimming in red ink. However, one Dow name that's hanging on so far today is Caterpillar Inc. (NYSE:CAT), up 0.3% to trade at $99.21, after Stifel issued an upgrade to "buy" from "hold." Although the analyst in coverage trimmed its price target to $137 from $140, they noted that much of the bad news for CAT is al...Read More
Lockheed Martin's CEO Marillyn Hewson just announced her resignationLockheed Martin Corporation (NYSE:LMT) is down 5.6% to trade at $310.44amid news that the security and aerospace company's CEO, Marillyn Hewson, will be stepping down on June 15, replaced by tapped board member and American Tower Corp leader James Taiclet. Robert Stallard of Vertical Research chimed in saying that with Hewson acti...Read More
Major indexes are still in the redThe Dow Jones Industrial Average (DJI) is extending its losses this afternoon, continuing to give back the ground it gained on Friday's bounce -- down around 1,700 points at last check. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are still deep in the red as well, though losses were pared slightly after Wall Street's selloff triggered another circuit break...Read More
Apple stock is lower amid store closures and a $1.2 billion antitrust fineShares of Apple Inc (NASDAQ:AAPL) are down 8%, last seen trading at $255.67 after the tech giant closed all of its retail stores for the next two weeks to minimize the spread of the coronavirus, save for its 42 stores in China that reopened on Friday. Separately, news that the iPhone maker was fined a record $1.2 billion by...Read More
American Airlines is cutting 75% of its international flights through May 6American Airlines Group Inc (NASDAQ:AAL) is zooming lower this morning, following a brief respite last Friday, after the flight concern said they would slash 75% of its international flights through May 6 as a response to the dwindling demand for air travel. The news has AAL down 13.5% to trade at another record low of $12....Read More
The Fed's stimulus efforts are doing little to prop up stocks in pre-market tradingDow Jones Industrial Average (DJI) futures are on their way back down this morning following last weekend's wave of regional shutdowns sparked by the rapidly spreading coronavirus. Notably, Apple (AAPL) announced the closure of its retail stores until March 27. The news caused the blue chip index, S&P 500 Index (S...Read More
I got pelted with garbage after the last (bearish) update was posted on the 1st because right after, gold zoomed back up following a $75.80 plunge, as we can see on its latest 3-month chart below, and this "swansong rally" even made it to a marginal new high, but it did not negate the bearish implications of the late February plunge. In the last update it was written "This kind of massive smackd...Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeekWeek Ended March-13, 2020$USA $EDV.to $EQX.to $FSM $FNV $WPM $KGC $MAX.to $OSK.to $PVG $NVO.V America's Gold and Silver Corp: Reported FY 2019 production of 5.8m AgEq oz, though only 1.2m oz. of that was actual silver ounces, the rest being base metals converted to silver equivalent. 2019 was a transition year for the company as it r...Read More
Richard (Rick) Mills, Ahead of the herdOne of the worst weeks on Wall Street mercifully ended on Friday.S&P 500DJIANasdaqAfter multiple sessions of panic selling, the markets caught an up-draft after US President Trump declared a national emergency over the coronavirus, thus freeing up $50 billion in federal aid to help contain the rapid spread of the pandemic. As stocks accelerated gains in...Read More
Gary Tanashian, NFTRHBelow is a monthly chart of HUI telling some stories of the past.The 2003 to 2008 bull rally ended with Huey's "crown of thorns" as I used to call it back then. An H&S that formed at the end of a great inflationary phase in the markets.The great crash of 2008 (Armageddon '08) was completely deserved because as I've belabored for so many years now, you don't buy gold stocks...Read More