Late Week Market Sell-Off Dampens Mood

Posted on by The INO.com Team

Hello traders everywhere. Apple Inc. (AAPL) is leading declines in the technology sector which in turn is dragging down U.S. indexes ending what looked to be a positive week for stocks mid-week. Energy companies are also taking a bit of a hit from lower oil prices after President Donald Trump's criticism on OPEC in a tweet earlier in the morning saying that:

"Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted"!

Market Sell-Off

The S&P 500, DOW and NASDAQ are all trying to post small gains for the week overall, which would give the three indexes their first back to back weekly gains since mid-February.

The almighty dollar is ending a strong week with a gain of .58% erasing the losses that it saw last week on the back of rising interest rates. Treasury yields are headed toward 2.95% on the week. Continue reading "Late Week Market Sell-Off Dampens Mood" →

Canadian Micro-Cap Scores Sales Permit

Posted on by The INO.com Team

Analysis originally distributed on April 12, 2018 By: Michael Vodicka of Cannabis Stock Trades

Winning a license to sell cannabis in Canada is a lot like winning the lottery. It’s an immediate pathway into an untapped $5 billion market.

However, just like the lottery – it’s not easy to get one of these permits.

Four years after Canada updated its domestic cannabis laws – only 97 companies have been licensed. Around 30 of those companies are publicly traded and control around 45 permits.

Hiku

Today – I am going to reveal the most recent winner of Canada’s cannabis permit lottery. Continue reading "Canadian Micro-Cap Scores Sales Permit" →

It's All About Corporate Earnings

Posted on by The INO.com Team

Hello traders everywhere. It's all about corporate earnings this week vs. the geopolitical tensions of the past few weeks to a month. Gone are the talks of trade tariffs and possible conflicts as the markets turn to outstanding earnings reports from the big names in tech and the big banks.

This push higher this week has given life to the markets and helped the both the DOW and S&P 500 issue new green weekly Trade Triangles indicating that the projected long-term downtrend has moved to a sidelines position based on the Chart Analysis Scores. We will now turn our attention to the next major hurdle and that's the issuance of new green monthly Trade Triangles for both indexes.

As for the NASDAQ, it too issued a new green weekly Trade Triangle signaling that the long-term trend has resumed and is looking to head higher based on a strong Chart Analysis Score of +100.

Syria Fears Ease

Crude oil continues higher hitting a new high this month, it's the highest level since 2014. The reason for the gains today is an Energy Information Administration (EIA) report that showed shrinking American petroleum surpluses and the first crude withdrawal from the largest U.S. storage complex in six weeks. The U.S. draw-downs underlined optimism that an OPEC-led effort to curb global supplies will be reinforced later this week when the cartel and allied producers gather in Saudi Arabia. Continue reading "It's All About Corporate Earnings" →

Gold Update: Old Is "Gold"?

Posted on by Aibek Burabayev

Aibek Burabayev - INO.com Contributor - Metals - Gold Update


Recently, I was looking for my school notes amongst my old stuff for my eldest daughter to help her understand chemistry as my school teacher was a real fanatic on this subject. During the process, I found many things with memories from my youth, and it prompted me to call my old friends and discuss those handwritten letters that we used to send by messenger. We couldn’t have ever imagined that the digital era would come.

Quite often things from the past can help us today. I decided to dig deep into the past on the gold chart to understand what is happening with our frozen gold market these days. Bingo! He who seeks shall find.

Below is the chart with my annotations to illustrate the findings.

Chart. Gold Quarterly (Logarithmic): This “Vinyl” Could Play Again

Gold Update
Chart courtesy of stooq.com

First of all, I would like you to pay attention to the word “Logarithmic” in the chart title, which is usually abbreviated as “Log” in the chart options. It means that the Y-axis of the chart has log scale, which is nonlinear and commonly used for the broad range of the data. Continue reading "Gold Update: Old Is "Gold"?" →

Stocks Rise As Syria Fears Ease

Posted on by The INO.com Team

Hello traders everywhere. Wall Street is off to a good start this week as fears of an escalating conflict in Syria have eased. The DOW has gained as much as 200 points, with Merck & Co. Inc. (MRK) rising more than 2% on news that their immunotherapy drug Keytruda plus chemotherapy significantly improved overall survival in newly-diagnosed patients with advanced non-small cell lung cancer. The S&P 500 has climbed 0.75%, and the Nasdaq gaining 0.65% in the morning session.

On Saturday, the U.S. military conducted precision missile strikes against the Syrian government as a response to a chemical attack carried out in the country. The attack was conducted in conjunction with France and the U.K. The Pentagon described the U.S.-led strikes as a "justified, legitimate and proportionate response" to the Syrian regime's continued use of chemical weapons.

Syria Fears Ease

Crude oil has dropped from the three-year high that it posted to end the week as concerns about conflicts in the Middle East eased. Oil had dropped as much as 1.9% on the day but has settled around the $66.50 level, down about .55%. Continue reading "Stocks Rise As Syria Fears Ease" →