Dave Kranzler, Investement Research Dynamic's Mining Stock JournalThe bullion banks - at least on the Comex - have reduced their risk exposure to gold and silver derivatives over the last several months, which means reducing their short exposure. This is likely in response to the rising risk that they will be unable to meet increasing long-side counterparty delivery demands.Chris Marcus of Arca...Read More
By: Ira EpsteinOil API data not bullish, not consistent draws. Gold having a good start to the week, August chart breaks to neutral pattern..Read More
The Nasdaq closed above 10,000 for the first time everAnother big day for the Nasdaq -- the index managed to lock in a close above 10,000 for the first time ever -- driven by a surge out of the tech sector. Meanwhile the S&P 500 erased earlier gains, while the Dow ended the day 280 points lower, after the Federal Reserve said it will keep interest rates near zero until there is confidence the eco...Read More
Adobe is set to post earnings after the close tomorrowComputer software name Adobe Inc (NASDAQ: ADBE) is up 2.8% to trade at $408.15 this afternoon, after clocking its fifth consecutive all-time high of $407.06 earlier today. The positive price action comes just one day ahead of its fiscal second-quarter earnings report, which is due out after the close tomorrow, June 11. Adobe stock's impressi...Read More
Transocean options are trading at three times the average intraday volumeOil and gas drilling company Transocean Ltd (NYSE:RIG) is taking a steep fall on the charts today -- alongside much of the energy sector -- pulling back after the Organization for Petroleum and Energy Countries' (OPEC) production cut announcement caused a Monday surge. RIG is down 13.3% to trade at $2.48 at last check, headin...Read More
Plus, HRL options are affordably pricedThe shares of Hormel Foods Corp (NYSE:HRL) nabbed a record high of $51.53 on march 18 while most of U.S. equities were selling off. Today, the company entered into an underwriting agreement according to the Securities and Exchange Commission (SEC), while Vice President James M. Splinter sold 40,000 shares of HRL, according to an SEC filing. As HRL continues...Read More
ZS' options can be had for a bargain at the momentWhile software name Zscaler Inc (NASDAQ:ZS) has taken a breather since its well-received earnings report sent it soaring to fresh highs earlier this month, there's plenty of evidence ZS is primed for another rally. For one, ZS' post-earnings bull gaps have often been followed by a brief pullback, plus, this most recent breather has found some suppo...Read More
A big drop for Boeing is dragging the blue-chip index lowerThe S&P 500 Index (SPX) has erased its earlier gains to join the Dow Jones Industrial Average (DJI) in the red this afternoon, as investors anticipate the latest economic update from the Federal Reserve due out latertoday. The blue-chip index is off over 200 points, dampened by Boeing's (BA) 6% midday deficit. Tech stocks, meanwhile, are...Read More
ABBV hit an 18-month high out of the gate todayThe shares of biopharmaceutical company AbbVie Inc (NYSE:ABBV) are up 2.1% at $98.16 at last check, after announcing an oncology collaboration with Genmab (GMAB). The companies will work together to develop three of Genmab's bispecificantibodies, as well as a collaboration for future antibody therapeutics to treat cancer. AbbVie will pay Genmab $750...Read More
The hospitality giant is adding Luxor, Mandalay Bay, Four Seasons Las Vegas and ARIA to the list of open resortsThe shares of MGM Resorts International (NYSE: MGM) are down 4.5% at $21.04 this morning, after the hospitality giant announced it would open more resorts by July 1, including Luxor, Mandalay Bay, Four Seasons Las Vegas, and ARIA. Guests will be able to enjoy the pool areas and fine din...Read More
GameStop's first-quarter profits and revenue were worse than Wall Street expectedThe shares of GameStop Corp. (NYSE:GME) are exploring both sides of the breakeven this morning, last seen up 1% at $5.04, after reporting first-quarter losses of $1.61 on revenue of $1.02 billion -- both of which were well below Wall Street's estimates. Additionally, the video game retailer saw same-store sales fall...Read More
Best Buy will bring back over 9,000 of its workers who were furloughed in mid-AprilTech retailer Best Buy Co Inc (NYSE:BBY) announced last night that starting June 15, customers will be able to shop in 800 of its locations without an appointment, though a limited number of people will now be let inside. The company also said it planned on bringing back over 9,000 of its employees who have been fur...Read More
Tech stocks are building on Tuesday blistering run higherFutures on the Dow Jones Industrial Average (DJI) are slowly climbing above fair value this morning, as investors await the Federal Reserve's update and subsequent press conference from Fed Chair Jerome Powell later this afternoon. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also hovering in the black ahead of the open, with t...Read More
Nasdaq returns are typically bullish after V-bottomsThis Monday, the Nasdaq Composite (IXIC) reached a new all-time high, completing the V-Bottom. Looking at the chart below, it is clear how the V-Bottom got its name - the sharp fall and quick recovery resembles a V on the chart. As I often do, this week I will be looking at past occurrences of V-Bottoms to see how it has performed going forward....Read More
Dave Kranzler, Investement Research Dynamic's Mining Stock JournalThe bullion banks - at least on the Comex - have reduced their risk exposure to gold and silver derivatives over the last several months, which means reducing their short exposure. This is likely in response to the rising risk that they will be unable to meet increasing long-side counterparty delivery demands.Chris Marcus of Arca...Read More
Craig Hemke, TF MetalsWhile not the only consideration in forecasting price, it's always important to note the current COMEX contract balance. As the FOMC meets again this week, let's look under the hood to see whether or not positions are at extremes versus recent history.As you know, this has already been a strong year for COMEX Digital Gold. Price ended 2019 right at our forecast of $1520, an...Read More
By: Ira EpsteinOil API data not bullish, not consistent draws. Gold having a good start to the week, August chart breaks to neutral pattern..Read More
Although the gold to silver ratio has tightened a bit, it remains elevated and could indicate more upside for silver, according to McAlinden Research Partners. Silver and silver miners popped in May on the back of a rebound in industrial activity around the world. Ultra-low interest rates and expectations of a weaker dollar have compounded several political pressures that begun popping up at the...Read More
Peter Epstein of Epstein Research profiles this explorer with a past-producing high-grade silver and gold mine. VanGold Mining Corp.'s (VGLD:TSX.V) flagship project, El Pinguico, hosts a high-grade past producing silver (Ag) and gold (Ag) mine (400 tonnes/day). It's located 7 km south of the city of Guanajuato, in central Mexico. The mine operated from the late 1880s until 1913, mining the El Pin...Read More