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The Time Is Nigh To Buy Gold
Several interesting statistics can be gleaned from the current performance of gold. For the past 5 years, gold has returned an average of -12.28%, but that number declines to -3% over the past 1 year. If we extrapolate within the last 6 months, gold has appreciated by 8.20%, and over the past 30 days the gold price has firmed by 8.96%. On Thursday, 11 February 2016 gold surged by 4.37% or an amount of $52.26. At the time of writing this article, gold bullion is trading at $1246.56 an ounce on the back of rising demand, loss of confidence in central banks and financial stocks, and rampant disregard for equities. While silver hardly has the... -
Finance 0
Worse Than 2008
BALTMORE – “Stocks still not finding bottom” warned a headline at Investor’s Business Daily. Earlier last week, the Dow (DIA) ended down 255 points – or 1.6%. The index is down by around 8% since the start of the year. “These developments, if they prove persistent, could weigh on the outlook for economic activity…” proffered a nervous-looking Janet Yellen in her testimony on Capitol Hill yesterday. She was signaling to investors. “Don’t worry about us,” she may as well have said. “If we can get away with a big U-turn, we’re not going to raise rates anymore.” “Massive Deterioration” On Tuesday, Maersk Group, th... -
Finance 0
Last Week And This Week
Global and local markets continued their stormy conditions last week with Federal Reserve Chair Janet Yellen’s speech before Congress standing out among the rest. In it, Yellen testified that the central bank was prepared to return to “normal” monetary policy if a worsening should occur in global stock markets. Yellen added that the Fed still expects to raise rates gradually this year in light of steady growth and solid employment data and warned the Senate Banking Committee against overestimating the extent of the overseas threat—especially China—to the growing U.S. economy. Another big mover last week was the yen with the prelimin... -
Finance 0
What Energy Bankers Are Really Saying: “We Are Looking To Save Ourselves Now”
There are three important observations in the latest “Things We’ve Learned This Week” weekly report from Credit Suisse’s James Wicklund. The first, is that anyone holding out for a big push higher across energy equities as a result of a wave of distressed equity M&A can give up: according to Credit Suisse the next wave of mergers will take place via “debt negotiations”, not equity buyout offers: “the best M&A will be done on the credit side, not the equity side.” This means that instead of stock prices rising, they will collapse as companies engage in corporate reorgs, ones where the d... -
Finance 0
Week In Review: China Resource Plans $1 Billion Hong Kong IPO
China Resources Pharma, China’s second largest drug company and a subsidiary of state-owned China Resources, is planning an IPO in Hong Kong that will raise at least $1 billion; Hutchison China MediTech filed a third iteration of a prospectus for its $100 million US IPO, which is still not final; Pharmaron, a Beijing CRO/CMO, acquired Quotient Bioresearch of the UK and its radiochemistry expertise; Xizang Haisco Pharma led a $15 million Series D funding for Regentis Biomaterials, an Israeli medical device company, and will market Regentis’ cartilage regeneration device in China; Shanghai Golden Grand-Medical Instruments will begin... -
Finance 0
Weighing The Week Ahead: What Are The Biggest Market Worries?
The economic calendar is again light in a holiday-shortened week. There are a variety of important news items, but no dominant theme. I expect the punditry to seize the opportunity by asking: What are the biggest market worries? Prior Theme Recap In my last WTWA I predicted that everyone would be talking about the high and rising worry about a recession. That was one of the most frequent media topics for the week, with some sources even choosing “looming” as part of the description. Fed Chair Yellen grabbed the spotlight for her testimony, but even that centered on economic concerns and what the Fed might do. Friday’s rebound was nota... -
Finance 0
EUR/GBP Bull Momentum Stalls Ahead Of 0.8000
EUR/GBP- Although the cross remains biased to the upside, it faces a move lower on correction on loss of upside momentum. However, with a loss of upside momentum seen on Friday (see daily chart), support comes in at the 0.7700 level. Further down, support lies at the 0.7650 level where a violation will turn focus to the 0.7500 level. A break will expose the 0.7450 level. On the upside, resistance lies at the 0.7800 level where a violation if seen will turn risk towards the 0.7840 level. On further upside, the 0.7880 level comes in as the next upside target followed by the 0.7920 level. All in all, the cross remains biased to the downside belo... -
Finance 0
5 IPOs We Want In 2016
2015 was a relatively calm year for initial public offerings on Wall Street, especially in comparison to 2014, which saw the biggest IPO ever with Alibaba Group Holdings BABA. Only 169 companies made their market debut, including Fitbit Inc FIT, Ferrari NV RACE, Shake Shack (SHAK – Snapshot Report), GoDaddy Inc GDDY, and Spark Therapeutics ONCE. Some of the biggest IPO rumors—Uber, Airbnb, Pinterest, and Snapchat—remained privately-held and were able to raise boatloads of money without listing on a stock exchange. But that hasn’t stopped these four companies from still leading the IPO pack in 2016. For more information on e... -
Finance 0
EC Did Mark Cuban And The Dow Just Prove Goldbugs Right?
When celebrity investor Mark Cuban announces to the world that he is investing in gold, is that a sign that the ride up is just getting going, or that it has already peaked? The Gold Report reached out to long-time experts in the sector for a better understanding of what is moving the markets—negative interest rates, a topping dollar, Fed testimony, increased gold buying in China—and what that means for junior mining stocks in the coming months. A lot of investors were turning back to gold in mid-February as an alternative to a larger stock market that didn’t seem to make sense anymore. The Dow Jones Industrial Average dropped 1.6...
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