Energy shares have been spiraling alongside crude oil prices, with Schaeffer's Senior V.P. of Research Todd Salamone suggesting investors avoid the "vulnerable" group in recent Monday Morning Outlook commentaries. The sector's struggles are highlighted in the recent price action of the United States Oil Fund (USO), whose shares have plunged more than 8% since being swiftly rejected by their 80-day...Read More
The Dow Jones Industrial Average (DJIA) is off its early morning lows, but stocks are still struggling for upside as traders exercise caution ahead of some major market events. In the meantime, investors are digesting this morning's Job Openings and Labor Turnover Survey (JOLTS), which showed job openings in the U.S. increased to an all-time high of six million in April, while hiring decreased....Read More
Travel stock Delta Air Lines, Inc. (NYSE:DAL) is in a strong technical position, and looks poised to go higher. The shares are up nearly 21% year-over-year, and just last week made a decisive move above their year-to-date breakeven point and the $50.76 level -- half their all-time peak. After taking a sharp bounce of its 200-day moving average in April, DAL is now staring down its 52-week high, an...Read More
Valeant Pharmaceuticals Intl Inc (NYSE:VRX) shares are trading 2% higher today at $12.59, after Bloomberg reported the company is in talks to sell Bausch & Lomb's eye-surgery business. Options traders have been quick to respond, with buy-to-open activity possibly taking place at the weekly 6/9 13-strike call, and the June 14 call. If long positions are being initiated here, traders are betting...Read More
U.S. stocks are sluggish today, amid escalating geopolitcal uncertainty. Among specific stocks on the move this morning are apparel manufacturer G-III Apparel Group, Ltd. (NASDAQ:GIII), biopharmaceutical name Acorda Therapeutics Inc (NASDAQ:ACOR), and solar company JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO). Here's a quick look at what's moving shares of GIII, ACOR, and JASO.Optimistic Quar...Read More
Analysts are weighing in on wearable tech stock Fitbit Inc (NYSE:FIT), steel manufacturer ArcelorMittal SA (ADR) (NYSE:MT), and farming equipment maker Tractor Supply Company (NASDAQ:TSCO). Here's a quick roundup of today's bearish brokerage notes on shares of FIT, MT, and TSCO.Citi Maintains "Sell" Rating on FIT StockFitbit stock is down 0.9% at $5.37, after Citi reiterated a "sell" rating on t...Read More
As we've been outlining for weeks now, Subprime 2.0 is the subprime auto-loan industry. And just as the collapse in the subprime mortgage lending was what signaled the beginning of the housing crisis... trouble in the subprime auto-loan industry will be what signals that the next Debt Crisis is here.On that note... subprime auto-loan defaults are soaring, hitting 11.96%. The last time they were an...Read More
Analysts are weighing in on Elon Musk's Tesla Inc (NASDAQ:TSLA), semiconductor stock Microchip Technology Inc. (NASDAQ:MCHP), and streaming content provider Netflix, Inc. (NASDAQ:NFLX). Here's a quick roundup of today's bullish brokerage notes on shares of TSLA, MCHP, and NFLX.Pacific Crest Expects a 26% Rally For TSLA StockPacific Crest reiterated its "sector weight" rating and raised its pri...Read More
Gold is the world's ultimate asset, and another spectacular week is underway for investors. While May was mostly sideways (and lower for many gold stocks), it's starting to look like the month of June could be a serious "barnburner".This is the daily bars gold chart.Gold tends to stage a decent rally in the days following the release of the US jobs report. That's in play now, as I suggested it...Read More
With the US dollar taking another hit last Friday on a weaker-than-expected jobs report, gold closed up 1.12 percent for the day. A Bloomberg gauge of 72 junior miners, however, has lost 15 percent since the end of January, and the rebalance of the VanEck Vectors Junior Gold Miner ETF (GDXJ), which I previously wrote about, is also having a depressing effect on many gold names.This was a major con...Read More
The bounce in Treasury yields witnessed after the election of Donald Trump is now decaying in the D.C. swamp. If the Fed continues to ignore this slow growth and deflationary signal from the bond market and continues along its current rate hiking path, the yield curve will invert by the end of this year and an equity market plunge and a recession is sure to follow. An inverted yield curve, which...Read More
This post is a rehash of something I wrote at TSI last September in response to the article titled "The Gold Standard and Debt Jubilee". The article is a confused jumble of Marxist, biblical and capitalist ideas/assertions, but its gist is that we need both a debt jubilee and a gold standard. My views are that a gold standard is not a worthwhile objective and that a debt jubilee would be both an e...Read More
Dow Jones Industrial Average (DJIA) futures are signaling a lower start, as caution sets in ahead of some market-moving events slated for later in the week. Oil futures remain in focus today, with the July-dated crude contract down 0.4% at $47.21 per barrel amid ongoing tensions in the Middle East. But as Wall Street's appetite for riskier assets cools, gold is poised to benefit from its safe-ha...Read More
- Deposit bail in risk as stocks and bonds of Spanish bank - Banco Popular - crash- Banco Popular stock crashes most on record - down 63% this year to 34 euro cents- Spanish bank tells employees - "Don't panic"- Risk of Spanish banking crisis as Banco Popular credit curve inverts- Banco Popular needs to find at least ?,?4 billion more capital - analysts- Deposits over ?,?100,000 (euro) vulnera...Read More
Please Note: There will not be any Gold Seeker reports for the next week or two. CloseGain/LossGold $1293.80+$14.20Silver$17.69+$0.12XAU87.39+5.13%HUI204.55+6.07%GDM661.77+4.62%JSE Gold1410.81+91.44USD96.54-0.27Euro112.79+0.21Yen91.37+0.87Oil$48.19+$0.7910-Year2.143%-0.037T-Bond156.375+0.71875Dow21136.23-0.23%Nasdaq6275.06-0.33%S&P2429.33-0.28% The Metals: Gold climbed higher throughout m...Read More
By Bill Holter As an addendum to yesterday's subscriber article, the topic of "time and sales" needs to be discussed. "Time and sales" is a very simple report that can be requested by literally anyone in any market. For example, when I was a young broker I had a large client who traded a minimum 10,000 shares at a clip. From time to time he would request a time and sales report to make s...Read More
Graceland Updates By Stewart Thomson 1. Gold is the world's ultimate asset, and another spectacular week is underway for investors. While May was mostly sideways (and lower for many gold stocks), it's starting to look like the month of June could be a serious "barnburner".2. Please click here now. Double-click to enlarge this daily bars gold chart.3. Gold tends to stage a de...Read More
By Clint SiegnerSeveral U.S. states and the federal government are hopelessly insolvent. It's something many bullion investors have known for years.The real question is when this reality will pierce the mainstream illusion that deficits, and the crushing pile of debt which accompany them, don't matter. That moment drew closer last week when ratings agencies downgraded Illinois state bonds to one...Read More
This post is a rehash of something I wrote at TSI last September in response to the article titled "The Gold Standard and Debt Jubilee". The article is a confused jumble of Marxist, biblical and capitalist ideas/assertions, but its gist is that we need both a debt jubilee and a gold standard. My views are that a gold standard is not a worthwhile objective and that a debt jubilee would be both an...Read More
By Frank HolmesSurprising no one, President Donald Trump announced his decision to withdraw the U.S. from the Paris climate agreement last week, highlighting the depth of his commitment to keep "America First." Also surprising no one, the media is making much of the fact that the U.S. now joins only Nicaragua and Syria in refusing to participate in the accord.Trump was under intense pressure fro...Read More