A Chinese bank will soon join the London Bullion Market Associations (LBMA) silver price-setting process. According to a Reuters report, China Construction Bank signed a memorandum of understanding with CME Group (CME). It will join HSBC, JPMorgan Chase (JPM), Mitsui & Co Precious Metals, Bank of Nova Scotia – ScotiaMocatta, Toronto Dominion Bank (TD), and UBS…
(Photo Credit: Chris Potter) Tuesday, October 20 Wednesday, October 21 Chipotle (CMG) Consumer Discretionary – Hotels, Restaurants & Leisure | Reports October 20 after the close. The Estimize consensus calls for EPS of $4.65, greater than Wall Street’s prediction for $4.62, an increase of 12%. Revenues of $1.221B are slighter higher than the Street’s $1.214B, signaling…
The Chinese numbers have about as much credibility as Noah Cross, the villain in the movie Chinatown. The character is based upon the real-life first superintendent of the Los Angeles Water Department, William Mulholland. Mulholland is alleged to have lied to, cheated and threatened the farmers and ranchers of the Owens Valley, which was then called “the…
A Few Remarks on the Technical Situation In our last update on gold and gold stocks we discussed a simple method to identify whether or not an upturn was likely to morph into a longer term rally or not, based on market behavior near past major lows. This particular test is obviously still ahead of us. In…
I look at about 1200 charts every single trading day, and a number of them are so trashed that they barely merit even a moment’s glance. One of these was Weight Watchers (WTW) which, until today, was simply a trashed stock that had fallen from nearly the triple digits down to virtually penny-stock land. That…
TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence. Today I added St. Barbara (OTCPK:STBMY), Montea Porcupine Mines (OTCPK:MPUCF),Federal National Mortgage Services (FNMAI), Great Rock Development (OTCPK:GROC) and Primo Water (NASDAQ:PRMW) to the Barchart Van Meerten Speculative portfolio for positive price momentum. Please note that these are highly speculative, thinly traded and not…
(from my colleagues Dr. Win Thin and Ilan Solot) The week starts off subdued for EM, but selling pressures continue for the most part. The dollar is mixed against majors and with the decision about the timing of the first Fed hike still up in the air, it’s hard to see how investors will commit…
Shares of Bluebird Bio (BLUE) fell 4.3% today after the company announced that one patient on its old-generation gene therapy required two blood transfusions due to anemia, after 7 years being transfusion-free. This news spooked investors with the implication that gene therapy may not last, causing the fall today. More specifically the patient being discussed…
There wasn’t much to say about today. Small gains kept things ticking over, but there were no key breaks of resistance. Tomorrow is another day. Shorts may again try to short the S&P with today’s close near highs, and the convergence of resistance. The Nasdaq is also pegged by resistance, finishing just above 4,900. Volume…
Gold and silver were under light pressure most of the day, and slid a little in the afternoon to finish slightly lower. The Bucket Shop was very quiet as usual, with only a little movement in the silver warehouses. Gold bullion continues to act as though it was under lockdown. As you know I was…
