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 December contract is currently trading at 1,202 after settling last Friday in New York at 1,205 an ounce down about $3 for the trading week as prices are still consolidating the recent downdraft that has occurred over the last several months as I remain bearish. If you are short a futures contract continue to place the stop loss at 1,221 as the downtrend line remains intact as I still believe that we will retest the August 16th low of 1,167 in the coming days ahead as the U.S. economy is strong as we added another 201,000 jobs last month as I still see no reason to own gold. The 10-year note is now yielding 2.94% as the Federal Reserve is probably going to continue to raise interest rates which is also fundamental bearish indicator towards gold prices as I remain bearish the entire sector as it looks like silver could hit a 9-year low in the coming weeks ahead so stay short. Gold prices are trading under their 20 and 100-day moving average as the trend remains to the downside as I still think there could be significant room to run as prices still look expensive especially compared to silver historically speaking. The U.S. dollar remains strong as I still believe we will touch the 100 level in the coming months ahead which will have a negative influence on prices as gold fundamentally and technically speaking doesn't have anything going for it at this time.
TREND: LOWER
CHART STRUCTURE: IMPROVING
VOLATILITY: LOW

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AMC Appreciates 30% - Further Upside?

I recently profiled AMC Entertainment Holdings Inc. (AMC) as a compelling buy in the backdrop of a record-setting year at the box office, a robust slate of movies for 2018 and 2019, a strong consumer, dividend yield of over 4% and accelerating revenue and EPS growth. AMC was trading near $14.50 or nearly 30% below its 52-week high in July. AMC is reengaging the consumer via digital, mobile and loyalty program options, reformatting theaters to enhance the user experience and international expansion augmented by a healthy share buyback program. After coming off record first quarter numbers in June across all categories, the stock looked very attractive considering its depressed valuation, industry strength forecasted through the remainder of 2018 and through 2019 coupled with a slew of company initiatives to drive the consumer experience. Sure enough, AMC has been on the rise and reported its Q2 earnings in August. AMC posted robust growth with record admission and food and beverage revenue increasing ~18% and 19%, respectively while overall revenue increased 20% year-over-year. Since July, AMC has broken out from ~$14.50 to ~$19.50 for a ~30% appreciation in stock value. AMC remains compelling despite this recent appreciation on any significant pullback since the long-term growth narrative remains intact while revenue continues to grow at a double-digit clip.

AMC’s Accelerating Revenue and EPS – Q2 Earnings

AMC has a mix of improving fundamentals across the entire enterprise which were highlighted during its latest earnings announcement for Q2 2018. AMC set second quarter records for all revenue categories: admissions, food and beverage and other. Total revenues increased 20% to $1,442.5 million compared to total revenues of $1,202.3 million during the same period last year. Admissions revenues increased 17.7% while food and beverage revenues increased 19.2%. Net earnings increased $198.7 million to net earnings of $22.2 million compared to net loss of $176.5 million for the three months ended June 30, 2017. Continue reading "AMC Appreciates 30% - Further Upside?"

Stocks End Week Lower

Hello traders everywhere. The weak finish by the stock market in August continued this week ending with all three indexes in negative territory. The S&P 500 is down almost 1% at -.97, the DOW is down -.33% and the NASDAQ suffered the worse loss of the three losing -2.1% as tech witnessed a significant sell-off, most notably in the social media segment.

Stocks End Week Lower

The U.S. Dollar has bucked its recent trend this week by gaining +.36% on the week making that its first positive week in a month. However, oil and gold followed the overall markets and lost -3.31% and -.53% respectively.

But the biggest loser of the week was Bitcoin, which lost -10.5% on the week. One reason for the sell-off was news in the middle of the week that Goldman Sachs delayed the launch of a Bitcoin trading desk for their customers.

Key Levels To Watch Next Week:

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Oil Likely To Find Support In Uptrend

I have focused my attention on the recent price rotation in the Crude Oil market. I believe the recent downside rotation in price, while technically still in a bullish trend, is an excellent opportunity for traders to identify entry positions for a potential price rally to levels near or above $70~71 ppb.

My proprietary price modeling systems and price cycle systems are clearly illustrating that Oil prices should find support, bottom and rotate higher within the next 5~7+ days. I rely on these proprietary indicators and modeling systems to help understand when opportunities exist in the markets. When I can determine that price is moving counter to a primary trend and creating what I call a “price anomaly”, where enhanced opportunity exists for a profitable outcome, I attempt to determine if this trigger warrants alerting our followers. In this case, I believe the opportunity for upside price action following this price rotation is exceptional.

This first chart shows our proprietary price cycle modeling system at work and clearly shows the key Fibonacci support levels that I believe will act as a floor for the price of Oil. I believe a bottom will form near $67 ppb and a new price rally will result in prices moving quickly back above $70 ppb.

crude oil market

This second chart shows the XLE price cycles on a Daily basis and I want to highlight the potential for a price move from near $73 to well above $76 (or higher) if our analysis is correct. This reflects a +4~8% price move that I believe could happen within the next 5~10+ days. Continue reading "Oil Likely To Find Support In Uptrend"

Alcohol Giant Enters Dispensary Game with $100M Deal

It looks like the largest Canadian alcohol retailer wants in on the cannabis game.

Canadian alcohol retailerThe company has a market cap of $265 million, owns and operates 229 retail locations in Alberta and Alaska, and did more than $621 million in revenue in 2017.

Now this company wants to leverage its reach and expertise to cash in on Canada's high-growth recreational cannabis market.

They've just inked a $104M deal with one of the largest cannabis companies to build and operate a string of cannabis dispensaries.

I'll break down this deal and uncover the two stocks that could see big moves as these heavyweights team up.

Get my free report right now.

Enjoy,
Michael Vodicka
Editor, Cannabis Stock Trades