Hello Traders everywhere. The U.S. Dollar has hit new lows as traders weigh the possible economic damage to Florida from Hurricane Irma, which is set to make landfall on Sunday. The DOW, S&P 500 and NASDAQ are all finishing the week lower after two weeks of gains.
Overnight, the most powerful earthquake in a century shook Mexico, adding to investor anxiety and causing the Mexican Stock Exchange to more than 300 points. It's certainly been a tough few weeks of natural disasters.
Our thoughts and prayers go out to everyone in the path of Irma and those still recovering from Harvey. If you'd like to make a donation to help you can reach out to the American Red Cross here.
Key levels to watch next week: Continue reading "Dollar Drops As Irma Takes Aim At Florida"
Analysis originally distributed on August 30, 2017 By: Michael Vodicka of Cannabis Stock Trades
Opioid abuse has quickly grown into a major global epidemic.
While opioids can be great for pain relief, the down side is that they are highly addictive. Recent data shows that opioid abuse and addiction is killing tens of thousands of people every year in just the United States.
Overdose deaths caused by prescription opioids have quadrupled since 1999. From 1999 to 2015, more than 183,000 people have died in the U.S. from overdoses related to prescription opioids.
This is an alarming trend that has both patients and health care professionals asking - are we capable of providing a better alternative?
According to a young biotech located Australia the answer is yes - and the solution comes in the form of cannabis.
If this young cannabis biotech is correct, not only will patients benefit, early shareholders will be rewarded with huge gains.
Let's take a look. Continue reading "Australian Cannabis Biotech Up 271%"
We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.
Gold futures in the December contract settled last Friday in New York at 1,297 an ounce while currently trading at 1,324 up about $27 for the week trading far above it's 20 and 100-day moving average. This trend continues to the upside on a weekly basis as prices have now hit a 10-month high. Tensions with North Korea escalated this week as they sent another missile over Japan which continues to support gold prices and I don't think that situation is going away anytime soon. If you are long a futures contract, continue to place the stop loss under the 10-day low which stands at 1,278 as the chart structure is poor because prices have run up rather quickly this week. The U.S. dollar has also hit a 2-year low which is supporting gold & the precious metals across the board with the next significant level of resistance at 1,350. If that level is broken, you would have to think that we could test the $1,400 level. Gold prices will depend on what North Korea and the United States conflict turns into as I don't see any other situation than the United States doing some military action against their nuclear facilities. This problem is getting worse not better as diplomatic negotiations have not worked for years so continue to play this to the upside.
CHART STRUCTURE: POOR
Continue reading "Weekly Futures Recap With Mike Seery"
Analysis originally distributed on August 23, 2016 By: Michael Vodicka of Cannabis Stock Trades
MGC Pharmaceuticals (TSX:MXC, OTC:MGCLF) is a young cannabis biotech headquartered in Western Australia that specializes in pharmaceutical product research and development.
Australian cannabis stocks have been red hot for the last few months.
- I added Australian-based Cann Group (ASX:CAN) to the members portfolio on July 31 and we're already up 70% in less than three weeks.
- I added fellow Australian cannabis stock AusCann (OTC:ACNNF) to the member portfolio on June 6 and we're up 55%.
If you want to learn more about our member portfolio click here.
Although the company is incorporated and headquartered in Australia it also has operations in both Israel and Europe.
For example, MGC received two licenses from the Slovenian government to grow, process and trade Cannabis Sativa L (Hemp) and its products, including Cannabidoil (CBD) resin, in Europe.
The company's founders were leaders in Israel's growing medical cannabis industry. Continue reading "Australian Cannabis Biotech Developing Cancer and Epilepsy Drugs"
Hello Traders everywhere. Crude oil has fallen more than 3% triggering a new red weekly Trade Triangle. The cause of the decline is, of course, Hurricane Harvey. Gasoline prices surged to a two-year high as Harvey kept hammering away on the U.S. Gulf Coast, knocking out several refineries which have and will continue to disrupt fuel production.
The reduce input of oil into those refineries will cause a rise and back-up in oil supplies, increasing the supply glut.
Our thoughts and prayers go out to everyone in the Gulf Coast area. If you’d like to make a donation to help you can reach out to the American Red Cross here.
Key levels to watch next week: Continue reading "Oil Falls As Gasoline Rises"