Speculators have not been this bullish on the euro since at least 2008. In the previous week, speculators pushed net long contracts on the euro to a new high for 2017 and now net long positioning by speculators on the euro are at a new high since at least 2008. Source: Oanda’s CFTC’s Commitments of Traders…
Biotechnology delivered a solid year in 2017, overcoming the poor performance in 2016. Multiple reasons for Biotechs to continue performing strongly in 2018. On a relative basis, Biotechs represent a good opportunity as the sector remains ~20% below its all-time high. Acquisitions may finally become a biotech theme in 2018. Many promising companies to build…
True to form as described a week ago, Gold continues down into December, so much so that it briefly slipped below The Box (1280-1240) before eking out a net weekly gain of 8 points in settling yesterday (Friday) at 1258. Rounded to the nearest point, Gold also settled at 1258 on six other trading days…
In the Currency Strength table, the NZD was the strongest currency while the CAD was the weakest. There were some significant changes last week with the NZD and AUD gaining 6 points, the JPY 3 points while the USD, EUR, GBP, CHF, and CAD lost 3 points. The NZD, AUD and to a lesser extent…
With the revival of oil prices over the past year, numerous companies in the industry have seen their year-over-year profits increase significantly and many have even been posting strong quarter-over-quarter increases. This is good news for shareholders as higher profits should lead to higher dividends and higher stock prices. This is not always the case…
GBP/USD continued falling, yet in a choppy manner amid mixed top-tier figures and a problematic advance on Brexit. The BOE also added to the mess. The upcoming week’s highlight is the final GDP report. Here are the key events and an updated technical analysis for GBP/USD. EU leaders formally approved moving to the next phase of…
Net Neutrality rules were originally enacted to ensure that all Americans would have equal access to a free and open Internet. We can argue about what Net Neutrality rules did and did not accomplish in a moment, but now I want to explore the most sensational of all the post–Net Neutrality fears: the death…
Senator Marco Rubio and Senator Bob Corker announced they support the latest tax plan which gives it enough votes to pass. The final vote will be on Tuesday, but at this point the decision is known. This helped the stock market rally briskly on Friday. The S&P 500 was up 0.9% and the Russell 2000 was up…
The rate at which global silver production increased over the past century is quite astonishing. When Columbus arrived in America (1492), the world was only producing 7 million oz of silver a year. Today, the world’s largest primary silver mine, Fresnillo’s Sauicto Mine, produced three times that amount in just one year (22 million oz,…
The Top 10 of the Ranking and Rating list for the coming week shows the following stronger currencies being well represented for going long: the NZD(4X) followed by the AUD(2X) and the JPY(2X). The weaker currencies are the CAD(5X) followed by the CHF(3X). By diversifying a nice combination can be traded in the coming week like…
