The VIX closed the books on its worst weekly loss since AprilU.S. stocks finished the day firmly positive in thin post-holiday trade. Better-than-expected jobs data pushed markets higher, despite the U.S. and China moving ahead with their first round of tariffs. The Dow and Nasdaq were up triple digits at their intraday highs, while the S&P also fared well, as all three indexes made their way to...Read More
Several FAANG stocks scored ambitious price-target hikesTrade and jobs were the themes of this holiday-shortened week on Wall Street. Reports that the Trump administration is considering a bill that would allow the White House unilateral power to increase tariffs initially weighed on stocks to start the week. However, rumors of a possible U.S.-European Union (EU) tariff truce lifted stocks after t...Read More
Put volume has ramped up on auto stock F todayOptions volume has been light overall this holiday week, but one stock drawing major attention from traders today is Ford Motor Company (NYSE:F). Nearly 36,000 puts have changed hands, with volume on pace to more than double the automaker's daily average of about 19,000 contracts. Conversely, today's F call volume of 16,719 contracts represents about h...Read More
Gannett put options are flying off the shelves after a downgradeThe Dow is higher today, as an upbeat jobs report overshadows new tariffs between the U.S. and China. Three stocks making big moves today are newspaper titan Gannett Co Inc (NYSE:GCI), biopharmaceutical issue AC Immune SA (NASDAQ:ACIU), and digital communications concern Black Box Corporation (NASDAQ:BBOX). Below, we will take a close...Read More
The VIX is pacing for its worst week in monthsThe Dow Jones Industrial Average (DJI) sports a triple-digit gain at midday, as an outstanding jobs report for the month of June offsets trade tensions stemming from the tariff "merry-go-round" between the U.S. and China. Barring any last-minute debacles, the Dow, S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are all on track for weekly wins.In a...Read More
WLL has been an outperformer since its late-February bull gapShares of oil concern Whiting Petroleum Corp (NYSE:WLL) are moving higher today, resuming their long-term uptrend just one day after receiving a price-target hike at SunTrust Robinson to $70 from $65. The energy name has been soaring up the charts since late February, when a slimmer-than-forecast quarterly loss triggered a bull gap. WL...Read More
Tuesday'sunsuccessful attempt to break above upper borders of the rising trend channelscost oil bulls more than many buyers expected. Their weakness was quicklydetected by therivals, who took control during yesterday's session. The effectsof their attackare seen not only on the crude oil charts, because they alsoaffected the pronunciation of our next interesting ratio. Is it possible thatthe relat...Read More
- U.S. China trade war escalates as Russia stockpiles gold on the Keiser Report- Trump's erratic and risky trade policies pose a risk to dollar as reserve currency- China, Russia "getting cosier" with Silk Road and increasing economic cooperation- China and Russia "want to do business outside of the dollar" and "dollar will finally reach its comeuppance"- "No gold ever leaves China ... they ar...Read More
The biotech stock is within striking distance of new highs Biogen Inc (NASDAQ:BIIB) stock is up 20.7% to trade at $360.77, after the biotech's Alzheimer's drug succeeded a mid-stage trial after failing to meet the main study goal back in December. While analysts have yet to weigh in with upgrades and/or price-target hikes, Canaccord Genuity called the data a "pleasant surprise," and reiterated it...Read More
BZUN 80-day pullbacks have marked major buying opportunities in the pastChina-based e-commerce solutions provider Baozun Inc (NASDAQ:BZUN) has been marching higher on the charts in 2018. The U.S.-traded shares have gained more than 75% year-to-date, easily outperforming the major equity benchmarks. And while BZUN stock has pulled back from its mid-June peak north of $67, data from Schaeffer's Seni...Read More
However, the shares are still pacing for a stellar weekShares of Arbutus Biopharma Corp (NASDAQ:ABUS) are sinking this morning, as traders react to negative analyst attention. Specifically, B. Riley downgraded ABUS stock to "neutral" from "buy," saying the shares have already priced in royalty opportunities from Alnylam's (ALNY) patisiran drug, and noting ABUS' outperformance already this year. Ju...Read More
First published Sun Jul 1 for members of ElliottWaveTrader.net:Dealing with markets is more about psychology than it is about anything else.So, let’s begin this weekend’s analysis with a discussion of the psychology of the metals market.There has been no trade more frustrating over the last several years than the metals.In fact, if you even remember back in 2015, the low we struck at t...Read More
Apple stock has been a long-term outperformer on the chartsShares of tech powerhouse Apple Inc. (NASDAQ:AAPL) are set to open fractionally higher after a fresh price-target hike to $210 from $195 at Loop Capital. Analyst Ananda Baruah backed a "buy" rating and said the FAANG stock is "positioned net-positively for 2H 2018," thanks to "ongoing Services momentum," the upcoming launch of a lower-pri...Read More
June was hot for the central banks. The Federal Reserve lifted the federal funds rate for the second time this year, while the European Central Bank announced that it would end its bond purchase program by the end of 2018. It would mean another step towards normalization of the crisis-era monetary policy, which would end quantitative easing on both sides of the Atlantic Ocean. What do these import...Read More
The U.S. tariffs against China went into effect this morningDow Jones Industrial Average (DJI) futures are trading just above fair value today, reversing course and climbing higher after an early deficit. Stock futures initially took a tumble once President Donald Trump's duties on $34 billion of Chinese goods went into effect and China responded in kind with its own levies. However, the damage h...Read More
BABA received some rare less-than-bullish analyst attention this morningSunTrust Robinson this morning dropped its price target on Alibaba Group Holding Ltd (NYSE:BABA) to $215 from $235, with the downwardly revised forecast implying expected upside of just over 15% to Thursday night's close at $186.88. To put that in perspective, BABA stock has gained 31.2% over the last 52 weeks.Despite today's...Read More
The HUI along with most of the other PM stock indexes are at a critical point right here andnow. Below is a combo chart we’ve following which has the UUP (The US Dollar Index ETF) on top and the HUI on the bottom. The UUP is building out a potential morphing bullish rising wedge consolidation pattern which would most likely give the PM complex some headwind if the price action breaks out top...Read More
US mills are holding back on further price increases on rebar to avoid a government reaction, thereby making it harder for imports to compete, the International Rebar Producers & Exporters Association (Irepas) said this week.On June 20, US Commerce Secretary Wilbur Ross accused unnamed industry participants of wrongly "profiteering" from Section 232 tariffs on imported steel, suggesting the Trump...Read More
Sector expert Michael Ballanger details his forecast for precious metals markets in the second half of 2018. Given the impressive reversal in gold last Monday, which appeared to occur during the Asian and European trading sessions as opposed to the Crimex pit session, it looks like the precious metals are adhering to the well-broadcasted seasonality trade that has been fraught with random, rather...Read More
Gold has been afflicted by relentless selling over the past few weeks or so, forcing it to major lows. While summer-doldrums weakness is typical, gold's recent drop is on the large side even for this time of year. It was fueled by truly-extreme short selling by gold-futures speculators, which is quickly exhausting. That is paving the way for gold's major autumn rally to start marching high...Read More