With countless settlements documenting the rigging of every single asset class, it was only a matter of time before the regulators – some 10 years behind the curve as usual – finally cracked down on gold manipulation as well, even though as we have shown in the past, central banks in general and the Fed in…
In the wake of yet another big market selloff (biotechs down over 6% today), the Nasdaq 100 index down 2.87%, and the S&P down 2.56%, mainstream media parrots floated numerous reasons behind the selloff. All of the parrots are wrong.Lack of Inflation? Bloomberg interviewed Jeff Korzenik, Fifth Third Bank’s chief strategist in its piece What’s Really…
Those who were caught off guard by the August-September correction ignored a deluge of fundamental, technical and economic data. (See August’s Market Top: 15 Warning Signs.) Median U.S. stock valuations had surpassed 2000 and 2007. Technical deterioration in market breadth virtually guaranteed a precipitous drop in the benchmarks. And the “decoupled-from-the-rest-of-the-world” U.S. economy? Feeble wage growth, waning consumer sentiment,…
Costco (COST), one of America’s most beloved warehouse clubs, is set to report its fiscal 2015 fourth quarter results tomorrow. Wall Street Analysts are expecting an EPS of $1.66 and revenue of $36.28 billion. The Estimize consensus is calling for an EPS of $1.68 and revenue of $36.52 billion. Should the Comparable…
No doubt who controlled market action today, and Bears weren’t stopping at August lows either. The Russell 2000 experienced the biggest hit, undercutting the August low. Next up is the October 2014 low. In percentage terms, the Nasdaq took the largest hit. However, it remains some distance from the August low. Shorts may look…
“There are two kinds of realists: those who manipulate facts and those who create them. The West requires nothing so much as men able to create their own reality.” Henry Kissinger, 1963 “But in these cases We still have judgment here, that we but teach Bloody instructions, which, being taught, return To plague the inventor:…
The Chart of the Day belongs to Inteliquent Inc (NASDAQ:IQNT). I found the telephone communications stock by using Barchart to sort the Russell 3000 Index stocks for the highest Weighted Alpha then again for technical buy signals of 80% or better. Since the Trend Spotter signaled a buy on 8/18 the stock gained 2.43%. Inteliquent, Inc. offers tandem interconnection services. It…
It is getting very exciting in the gold market! We have shown several bullish gold indicators in the last couple of weeks. Here is the thing: the number of bullish indicators keeps on growing. First, GLD ETF, the largest exchange-tradable gold ETF, has the lowest put-to-call ratio since 2012, right after the failed attempt of gold…
The week got off to a bad start for most major indexes around the globe. Japan’s Nikkei fell -1.32% and Europe fared worse, with the benchmark Euro STOXX 50 dropping -2.37%. Our preferred benchmark for US equities, the S&P 500, plunged at the open and continued to fall to its -2.70% intraday low about five…
(Photo Credit: Quintin Doroquez) The numbers are in, and Apple iPhone sales are showing no signs of slowing despite recent worries regarding market saturation. Three days after the official launch, Apple sold more than 13 million iPhone 6s and iPhone 6s Plus units this weekend, a company record. This is up from the 10 million units…
