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Silver Hits Triple Resistance – Is This A Meltdown Point?
The chart reflects that Silver and Silver ETF (SLV) are both testing triple resistance, inside of a falling channel at (1) above. We also shared that this resistance test was taking place at the same time that “Dumb Money Traders” has amassed the largest long position in Silver, in all of its history. This is a dangerous setup for Silver, should weakness start taking place.... -
Finance 0
Daily Market Digest: FOMC Minutes, Australia Jobs Report, UK Retail Sales
Image via John Sonderman / Flickr Hawkish surprise from the FOMC meeting minutes sends the US dollar higher across the board. Australia’s April jobs report shows unemployment rate unchanged. UK’s retail sales post a surprise surge in consumer spending. Today’s Economic events Japan core machinery orders m/m 5.50% vs. -1.90% Australia employment change 10.8k vs. 12.1k Australia unemployment rate 5.70%. vs. 5.80% UK retail sales m/m 1.30% vs. 0.60% ECB releases monetary policy meeting accounts Canada wholesale sales m/m -1.0 % vs. 0.50% US Philly Fed manufacturing index -1.8 vs. 3.2 US weekly unemployment claims 278k vs. 276k Coming up ... -
Finance 0
The Stock Whisper Of The Day: GDX, USO, FXI, CSCO, WMT, SPY, VXX
Hot stocks of the day: GDX, USO, FXI, CSCO, WMT, SPY, VXX Video length: 00:05:23... -
Finance 0
Initial Unemployment Claims Rolling Average Again Worsened. Now Rolling Averages Are Higher Than Levels One Year Ago
Weekly Initial Unemployment Claims The market expectations for weekly initial unemployment claims (from Bloomberg) were 261,000 to 280,000 (consensus 275,000), and the Department of Labor reported 278,000 new claims. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 268,250 (reported last week as 268,250) to 275,750. The rolling averages generally have been equal to or under 300,000 since August 2014. It should be pointed out that Econintersect watches the year-over-year change on the 4 week moving average. There is always some seasonali... -
Finance 0
Ahead Of G7 Greenback Loses Momentum
There’s growing certainty that the Federal Reserve Bank is likely to boost interest rates within the next quarter. Given that probability, the Dollar had continued on its upward trajectory until it finally steadied earlier today against the Euro, just off of a 3-month high. Recent improved economic data alongside the Fed’s own hawkish rhetoric had helped to provide a mini rally for the greenback though it seems that that has now subsided. As reported at 10:46 am (BST) in London, the EUR/USD was trading at $1.1221, a gain of 0.04%; the pair ranged from a session low of $1.1205 to a peak of $1.1235. Meanwhile the USD/JPY was down 0.22% at 1... -
Finance 0
Orange Is The New Black
Hello from black-as-tar Palo Alto this morning. I am pleased to see oil finally, finally, finally weaken, down over 2% this morning. I would also point out that gold, which is getting clobbered, is very close to a mildly important supporting trendline. It may get a breather here. If not, well, expect weakness for perhaps weeks to come.... -
Finance 0
Walmart Surges 9% After Beating EPS Expectations, Comp Sales
In what is the traditional end to earnings season, moments ago the second biggest employer in the US after the government, Walmart (WMT) reported results which after several quarters of disappointment solidly beat expectations, reporting Q1 EPS of $0.98 (down 4.9% Y/Y), higher than the $0.88 expected even as revenue of $115.9 billion (up 0.9% Y/Y) missed expectations of $133.3 billion. However, the reason the stock is soaring over 8% in the premarket is WMT’s big beat in comp stores, which same store sales rising 1.0%, double the 0.5% expected, driven by the sixth consecutive quarter of positive traffic, up 1.5%. Comps ex-fuel rose 0.8%... -
Finance 0
E Small Cap Best & Worst Stocks – May 19, 2016
The strongest small cap sectors are utilities and consumer goods. The best small cap industry is auto parts. The average small cap score is 47.87 and that’s below the four week moving average score of 49.01. The average small cap stock in our universe is trading -34.07% below its 52 week high, -1.63% below its 200 dma, and has 8.56 days to cover held short. Utilities, consumer goods, basics, financials, and industrials score above average. Healthcare and services score poorly. Auto parts (SRI, MTOR, TWI) is the top scoring small cap industry. Processed & packaged goods, computer peripherals, specialized health (BEAT, USPH)... -
Finance 0
Dick’S Sporting Goods (DKS) Beats On Q1 Earnings, Stock Down 3.2%
DICK’S Sporting Goods, Inc. (DKS – Analyst Report), the sporting goods retailer, came out with first-quarter fiscal 2016 results, wherein earnings of 50 cents per share dropped 5.7% year over year, while it surpassed the Zacks Consensus Estimate by a penny. Earnings Estimate Revision: The Zacks Consensus Estimate has shown a slight downtrend over the last 30 days. Nonetheless, in the trailing four quarters (including the quarter under review), the company has marginally outperformed the Zacks Consensus Estimate by an average of 0.2%. Revenues: Dick’s Sporting generated total sales of nearly $1,660.3 million that jumped 6.1% ... -
Finance 0
Guide To Vanguard Wellesley Income Investor Fund
Vanguard Wellesley Income Inv (VWINX – MF report) a Zacks Ranked #1 (Strong Buy) was created in July 1970 and is managed by Wellington Management Company. The objective of VWINX is to seek high level of income, long-term growth of income, and moderate long-term growth of capital. VWINX’s assets are divided between bonds and common stocks, with 60% to 65% of its assets in high-quality long-term and intermediate-term bonds and the remainder in dividend-paying stocks. In keeping with VWINX’s conservative orientation, asset allocation changes are made gradually when desirable to improve the income stream or in reaction to the...
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