The ratio of the Gold Bugs Index (HUI) to the gold price essentially remains near its lowest levels on record. Continue...Read More
It was a huge week for the gold stocks. GDX gained nearly 7% while GDXJ surged over 10%. Continue...Read More
Import prices for steel slab in Southeast Asia and East Asia inched lower over the past week because of sluggish demand.Producers in Brazil were unwilling to lower their offers below $420 fob due to the high cost of raw materials, sources said.Slabe from the Commonwealth of Independent States (CIS), meanwhile, was available at $445-450 per tonne cfr Southeast Asia. Buyers in Indonesia in...Read More
Jason received more information about China's real estate bubble from one of his mainland China sources including some anecdotes about how owners of houses don't want renters.Dinny McMahon | Debt, Dysfunction, and the End of the Chinese Miracle https://youtu.be/EXwXz5WqUsESomething Just Broke In China As Repo Rate Soars To 1,000% Overnight https://www.zerohedge.com/news/2019-0...Jason Burack is an...Read More
China's rebar prices increased slightly on Monday July 22 on concerns that the country's steelmaking hub in the north would tighten production curbs over the remainder of this month.Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($577-581) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,900-3,930 yuan per tonne, up 10-20 yuan per tonneA steelmaker in Tangshan was reported to have i...Read More
Fastmarkets is proposing changes to the specifications of its price assessment for steel slab imports, cfr Southeast Asia/East Asia, $/tonne.The proposed amendment to the quantity of slab cargoes to be assessed is made in response to changing market conditions. This will enable Fastmarkets to take more cargoes into consideration when making the weekly price assessment.The full specifications, once...Read More
The company has completed 6,500 meters of its current phase 1 program. GT Gold Corp. (GTT:TSX.V) announced in a news release the results from the first six holes of its 2019 drill program at its flagship Tatogga project in British Columbia.The goal of the 10,000 meter (10,000m), phase 1 exploration program is to expand the high-grade Saddle North copper-gold porphyry discovery there, and the late...Read More
The silver market is on the upswing but consolidation could be in the offing, according technical analyst Clive Maund. Some weeks back we had correctly surmised that gold's gathering strength would rub off on silver and cause it to start catching up, so we bought a range of silver ETFs and stocks, a move which has paid off well as they have spiked quite dramatically in the recent past.Starting wi...Read More
Technical analyst Clive Maund charts the latest moves in the gold and precious metals markets. It's a case of "so far so good" for gold, which is breaking out on schedule from its giant, complex, head-and-shoulders base, which may also be classified as a saucer base, as can be seen on its latest 10-year chart.On the four-year chart we can see that gold's breakout move last month has resulted in i...Read More
Fastmarkets has discontinued the publication of the stainless steel grade-304 Europe raw materials index, with effect from Monday July 22.After a two-month consultation period, Fastmarkets has decided to discontinue the assessment of the stainless steel 304 index domestic, exw EU.This index, which was intended to represent the costs of the raw materials needed to produce grade-304 stainless steel,...Read More
China is imposing anti-dumping duties on imports of stainless steel billet, slab, hot-rolled plate and coil produced in the European Union, Japan, South Korea and Indonesia, the country's Ministry of Commerce said on Monday July 22.The duties will apply for five years beginning on July 23 after a final ruling in an anti-dumping investigation found that the imports caused substantial dama...Read More
It was another choppy day on Wall StreetIt was another choppy trading session today, with little in the way of big-name earnings reports to digest and no economic data on the docket. However, a strong day for tech stocks kept the S&P and Nasdaq in positive territory for the whole session, while big wins for Intel (INTC), Apple (AAPL), and Microsoft (MSFT) helped pull the Dow into the green by the...Read More
PAYS stock was up 397% year-to-date through last Friday's closeStocks are mixed at midday, but little changed overall as investors anticipate a few big names in the earnings confessional later this week. Three stockson Wall Street's radar today are biotech name Amgen Inc (NASDAQ:AMGN) and e-payment concern Paysign Inc (NASDAQ:PAYS), and biopharma issue Galapagos NV (NASDAQ:GLPG). Here's a look at...Read More
SPWR has pulled back to its 30-day trendlineSunPower Corporation (NASDAQ:SPWR)has pulled back sharply in the last two weeks, logging weekly losses of 2.8% and 5.8%, respectively. As SPWR prepares for its turn in the earnings confessional -- set to report second-quarter earnings after-the-close next week, Wednesday, July 31 -- this recent pullback could present a unique buying opportunity, if past...Read More
BYND stock is up almost 13% todayBeyond Meat Inc (NASDAQ:BYND) stock surged all the way up to $199.44 earlier -- just shy of its June 18 record high of $201.88 --- last seen trading up 12.7% at $199.15. It's not clear what the catalyst is for the bull gap, but options traders are reacting, targeting even more upside for the plant-based burger stock by week's end.At last check, roughly 120,000 call...Read More
Shares of RTN have struggled to push above $185 this year, but a breakout could be imminentShares of U.S. defense contractor Raytheon Company (NYSE:RTN) are moving higher this afternoon, last seen up 0.6% at $179.61. RTN has been relatively stagnant since mid-February, struggling to break above the $185 mark. However, the stock has held onto its 17% year-to-date lead, and with new Iran tensions s...Read More
Calls have been popular on both namesTrade tensions between Washington and Beijing have kept U.S.-listed Chinese stocks on the collective radar. Two names in particular that options traders have been eyeing are Hangzhou-based e-commerce concern Alibaba Group Holding Ltd (NYSE:BABA) and Shanghai-based electric car maker Nio Inc (NYSE:NIO).In fact, both BABA and NIO popped up on a list of stocks tha...Read More
While we were prepared for last week’s run in silver in our service on ElliottWaveTrader.net, many are only now suggesting to buy into the metals after missing the last 10%+ move up in silver. Yes, that is what happens so often in financial markets. Markets go higher and people want to buy more the higher it goes. Yet I was getting a lot of pushback when I was suggesting people use price lev...Read More
July 19th, 2019(S14-E705)Featured GuestsBill Murphy& Bob HoyePlease Listen HereInterview RecapBill Murphy of GATA.org returns to the show with fresh insights on the recent PMs shares rally that continues to parallel the success of the US shares. One positive contrarian indicator, coin shop owners are telling our guest that demand remains sluggish, despite the strong upward market activity. Joh...Read More
- PlungerThis weekend I would like to review the state two markets. The general stock market and the precious metals market. Following this I will give an update on Plungers Core-7 portfolio.Consider this report an opportunity to read an alternative view of the markets. My views of the major averages are certainly at odds with consensus opinion. Furthermore, they are also at odds with th...Read More