Are we in a recession already?The cheerleaders in the mainstream financial press assure us the economy is going gangbusters. But recessions are typically only visible to statisticians long after the fact. They are, however, often visible in real time on the ground.Business volume drops, people stop buying houses and vehicles, restaurants that were jammed are suddenly half-empty and so on.There are...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort169,600109,10153,101134,285211,653356,986373,855Change from Prior Reporting Period -3,419-14,917772-78218,337-3,4294,192Traders16881704851247176 Small Speculators (C) GoldSeek.com LongShortOpen Interest 45,26428,395402,250 5,760-1,8612,331 non reportable positionsChange from...Read More
'Hard' Brexit Risk Sees Gold Gain In Euros and Pounds - Nears ?1,000/oz & EUR1,100/ozGold was lower today in dollars but saw slight gains in pounds and euros. It was supported by increasing concerns about the likelihood of a 'hard' Brexit, about global economic growth and uncertainty around the Fed's interest rate policies in 2019.Gold in GBP - 1 Month (GoldCore)Gold has consolidated on last wee...Read More
Concerns are rising about a global economic slowdownStocks ended the week on a dour note, with the Dow closing nearly 500 points in the red, marking its lowest settlement since May. The losses started with weak economic data out of China, and piled onafter healthcare icon Johnson & Johnson (JNJ) came under fire amid a report the company was aware of asbestos in its baby powder products for years....Read More
The beleaguered gold stocks are recovering from their late-summer capitulation, enjoying a solid young upleg as investors gradually return. Their buying has pushed the leading gold-stock ETF near a major triple breakout technically. That event should really boost capital inflows into this sector, accelerating the rally. A major gold and gold-stock buying catalyst is likely imminent too, a more-dov...Read More
YRC Worldwide is being sued by the DoJThe Dow is trading in the red this afternoon due to the bearish economic data out of China. Three small-cap stocks to watch in today's action are transportation issue YRC Worldwide Inc (NASDAQ:YRCW), hydrogel specialist Alliqua Biomedical Inc (NASDAQ:ALQA), and biopharma name Idera Pharmaceuticals Inc (NASDAQ:IDRA). Let's take a closer look at the news on sh...Read More
Wheaton Precious Metals' (TSE: WPM) shares surged over 14% Friday, following the company's announcement that it had a reached settlement with the Canada Revenue Agency (CRA). The settlement provides for a final resolution of Wheaton's tax appeal in connection with the reassessment under transfer pricing rules for 2005 to 2010.Wheaton Precious Metals is one of the largest precious metals streaming...Read More
Micron will report earnings after next Tuesday's closeMicron Technology, Inc. (NASDAQ:MU) earnings are due after the close next Tuesday, Dec. 18. The graphics chip stock has a history of positive earnings reactions, closing higher the next day in five of the past eight quarters. Options traders today are betting on more of the same this time around, even as MU stock trades near a trendline with hi...Read More
The analyst downgraded Walgreens stock to "sell"A downgrade from Goldman Sachs has shares of Walgreens Boots Alliance Inc (NASDAQ:WBA) reeling today. At last check, the stock is 3.7% lower to trade at $79.27. The analyst cut WBA to "sell" from "neutral," citing a deteriorating retail pharmacy business and "issues facing core growth drivers." Goldman also slashed its price target on the stock to $6...Read More
H.C. Wainwright upgraded the shares to "buy" and set a lofty price targetWhile most healthcare stocks are taking their cues from Johnson & Johnson (JNJ) today, the shares of Bausch Health Companies Inc (NYSE:BHC) -- formerly Valeant Pharmaceuticals -- are in the black, thanks to some upbeat analyst attention. Specifically, H.C. Wainwright upgraded BHC shares to "buy" from "neutral," and more than...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
The Dow and S&P 500 are heading toward weekly lossesAfter a rough start for stocks in December, volatility was the name of the game this week on Wall Street. The Dow, S&P 500 Index (SPX), and Nasdaq Composite (IXIC) endured wild swings all week, as investors monitored an onslaught of U.S-China trade headlines. A resurgent tech sector helped ease the blow, setting the Nasdaq up for a weekly win. Th...Read More
Falcon Gold (TSXV: FG) reported that it completed its 2018 exploration program this week on the Esperanza Resources mineral concessions located in La Rioja province, western Argentina.According to Falcon Gold, the work program was focused on three of its seven concessions, namely ERSA VIII, IX, and X. The idea was to advance the company's knowledge of the historically identified gold, silver and c...Read More
Canada's Minister of Environment and Climate Change, Catherine McKenna, said this week that if mitigation measures are taken, Greenstone Gold Mines' Hardrock gold project is not likely to cause significant adverse environmental effects.The project consists of the construction, operation, decommissioning, and abandonment of an open pit gold mine and onsite metal mill located near Geraldton, in nort...Read More
The Dow and S&P are set to close the week in the redThe Dow Jones Industrial Average (DJI) is sharply lower at midday, amid pressure from Johnson & Johnson (JNJ). The shares of the consumer products specialist are down on news the company was aware of asbestos in its baby powder products for years. Weakness in U.S. stocks is also attributed to concerns over the health of the global economy. Speci...Read More
China announced that it would temporarily halt additional tariffs on U.S.-made autos Shares of Ford Motor Co. (NYSE:F) are up 1.5% at $8.62 in earlytrading -- bucking the broad-market trend lower -- after China confirmed that it would postpone additional tariffs on U.S.-made cars for another three months. Ford Motor's Joe Hinrichs, president of the Americas unit, said, "We are very encouraged by...Read More
* Discounts widen in India, jewellers hold off on fresh purchases* Activity quiet in China, premiums narrow to $5-$6.50/oz* Singapore premiums ease slightly to $0.50-$0.60/ozDec 14 - Demand for physical gold was lacklustre in major Asian hubs this week as high prices dented bullion's appeal going into the holiday season, with buying interest in second biggest consumer India likely to be subdued fo...Read More
Nigeria's first gold refinery, located in the southwestern state of Ogun, is scheduled to be completed by the end of June, according to Kian Smith Trade & Co Ltd., the local company developing it.The refinery will initially be able to produce 3 metric tons of gold each month, and 1 ton of silver, Kian Smith said in a statement. The company said it will supply the nation's central bank, as well as...Read More
ITM options are more conservative, while more aggressive traders may prefer OTM contractsWhen selecting the right option to buy, a trader has several choices to make. One is whether to purchase an in-the-money (ITM) or out-of-the-money (OTM) option. While the goal for "vanilla" buyers is to have the option be in the money at expiration, the selected option depends on the amount the trader wants to...Read More
The shares are testing a familiar ceiling on the chartsIntercept Pharmaceuticals Inc (NASDAQ:ICPT) stock has handily outperformed the broader equities market in 2018, up 83% year-to-date. However, the shares of ICPT recently flashed what's been a historical sell signal, suggesting now may be time for bulls to take profits -- or perhaps pick up some short-term options insurance. Specifically, the d...Read More