Earnings, Earnings, Earnings

Hello traders everywhere. The stock markets opened little unchanged for on Monday holding just above the record levels set on Friday. The reason for the slow start? Earnings. That's right, it's earnings season and we're kicking off a big week of earnings with Netflix Inc. (NASDAQ:NFLX), which reports after the close today.

MarketClub's Mid-day Market Report

If you're looking for a place to find a full listing of earnings dates look no further. I use Yahoo! Finance's earnings calendar.

Key levels to watch next week: Continue reading "Earnings, Earnings, Earnings"

Weekly Futures Recap With Mike Seery

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

Gold futures in the August contract is up $10 an ounce, and I am now recommending a bearish position. As I stated in yesterday's blog from around the 1,228 level if you took the trade, continue to place the stop loss at the 10-day high standing at 1,243. However, in Tuesday's trade that could be lowered to today's high around 1,233 as the chart structure is outstanding therefore the risk/reward is highly in your favor in my opinion. Gold prices rebounded sharply earlier this morning due to an abysmal retail sales report which was the 2nd consecutive report that was negative. However, the U.S. stock market is hitting all-time highs once again today as they were not considering this valuable information so stay short & place the proper stop loss risking 2% of your account balance on any given trade. Gold prices are still trading under their 20 and 100-day moving average as prices settled last Friday in New York at 1,209 while currently trading at 1,226 up to about $17 for the trading week. I think this is just a kick back due to oversold conditions as the major support still lies around the 1,200 level & if that is broken this bearish trend could get ugly to the downside in my opinion so stay short.

Continue reading "Weekly Futures Recap With Mike Seery"

Nevada Becomes Fifth State to Legalize Cannabis - Here's How you Can Profit

Analysis originally distributed on July 05, 20176 By: Michael Vodicka of Cannabis Stock Trades

Three weeks ago I wrote about Mexican President Enrique Pena Nieto signing a bill legalizing the use of medicinal cannabis THC, CBD, and all cannabis derivatives. The new legislation also makes it legal to produce and distribute cannabis for medical and therapeutic purposes.

This week, the global trend of cannabis legalization continues in the U.S.

On July 1, Nevada became the fifth U.S. state to legalize recreational cannabis.

This is going to be another huge cannabis market, fueled by the tens of millions of tourists that visit Las Vegas every year.

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Right out of the chute, demand is already blowing past expectations. Continue reading "Nevada Becomes Fifth State to Legalize Cannabis - Here's How you Can Profit"

Indexes Hover Around All-Time Highs

Hello MarketClub members everywhere. As the trading week comes to an end, the DOW and S&P 500 are hovering around their all-time highs with the S&P 500 surpassing that mark as I write this. Weak economic data has also dimmed the chances of another rate hike this year, while lukewarm forecasts by J.P. Morgan and Wells Fargo have limited gains.

EDIT: Shortly after I posted this video the NASDAQ triggered a green weekly TT. Your key level to watch next week is now 6,081.96. A move below that level would issue a new red weekly TT.

Shares of J.P. Morgan Chase & Co. (NYSE:JPM) fell 1.3%, Citigroup Inc. (NYSE:C) was down 1% and Wells Fargo & Company (NYSE:WFC) fell 1.8%, despite their quarterly profits beating analysts' expectations.

MarketClub's Mid-day Market Report

Gold and crude oil are both posting weekly gains of 1.3% and 5.2% respectively.

Key levels to watch next week: Continue reading "Indexes Hover Around All-Time Highs"

"OPEC, The Market and Oil Bulls Have Run Out of Runway" - Andy Hall

Robert Boslego - INO.com Contributor - Energies

Andy Hall has forsaken his bull oil market position. In an investment letter dated July 3rd, he wrote, “Whereas it once seemed positions could be held with an eye to a longer-term secular appreciation, that is no longer the case…. In short, OPEC, the market and oil bulls have run out of runway.”

Andy Hall
Source: Amanda Gordon/Bloomberg

Mr. Hall explained his reasoning this way:

“Hitherto, it had been our view that oil would trend higher as prices would need to rise to a level that would justify investment in more costly sources of supply than just the core areas of US shale. However, not only has the core shale oil resource grown significantly — above all in the prolific Permian Basin — but break-evens have dropped because of secular productivity gains outpacing cyclical cost increases, at least for now…. If the marginal cost of oil for the next 3 or 4 years is headed to the mid-$40 range, then OPEC’s attempts to push prices to $60 seem futile.” Continue reading ""OPEC, The Market and Oil Bulls Have Run Out of Runway" - Andy Hall"