Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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 continued its bearish trend trading lower for the 4th consecutive session hitting a fresh 7-month low trading at 1,270 an ounce. I still see no reason to own this commodity as the NASDAQ 100 hit another all-time high this week and all of the interest lies in the equity market, not gold. In my opinion, if you are short a futures contract stay short as the next level of support is around 1,260 which could be tested in tomorrows trade. I still think we could retest the December 12th low of 1,251 & if that occurs prices could head down to the 1,200 level as a strong U.S dollar continues to impact gold prices as that market is also hovering right near an 11 month high & looks to even move higher in my opinion. Gold futures are trading under their 20 and 100-day moving average telling you that the short-term trend is lower and if you're short a futures contract continue to place the proper stop above the 2-week high standing at 1,313 as the chart structure will start to improve in next week's trade, therefore, lowering the monetary risk. I am certainly not recommending any bullish position as that would be counter-trend trading as this market is getting stronger to the downside on a weekly basis.
TREND: LOWER
CHART STRUCTURE: POOR
VOLATILITY: INCREASING
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IBM – Blockchain Technology Becoming Ubiquitous

Posted on by Noah Kiedrowski

Noah Kiedrowski - INO.com Contributor - Biotech - Blockchain Technology


“What the internet did for communications, blockchain will do for trusted transactions.”
— Ginni Rometty, IBM Chief Executive Officer

Introduction

I introduced International Business Machines Corporation (IBM) as a play on the emerging blockchain technology segment earlier this year to augment its transition away from its dependency on legacy businesses to the future of cloud, artificial intelligence, and analytics. IBM has struggled to restore growth, posting 20+ consecutive quarters of declining revenue however IBM has posted back-to-back quarters of revenue growth as of late. This growth has come on heels of its long-term imperatives beginning to bear fruit in emerging high-value segments that has fundamentally changed its business mix while evolving its offerings to align with new age information technology demands. A new frontier of growth lies in the nascent blockchain technology as IBM is a first mover in this promising, emerging technology. As IBM transitions to quarterly revenue growth, in the backdrop of its evolution to emerging high-value segments (i.e., blockchain) the company presents a compelling investment opportunity considering its suppressed valuation. In addition to the evolving business mix in strategic imperatives, IBM offers a great dividend, share buyback program while continuously acquiring companies to drive the business into the future. Continue reading "IBM – Blockchain Technology Becoming Ubiquitous" →

Escalating Trade Tensions and Oil Production

Posted on by The INO.com Team

Hello traders everywhere. The dominant topic of the week has been the escalating trade tensions between the U.S. and China after Trump threatened to impose tariffs on $200 billion of Chinese imports and Beijing vowed to retaliate. But the market got a bit of a reprieve on Friday after OPEC agreed to a modest increase in crude oil production at their meeting in Vienna.

That move by OPEC helped the Dow Jones Industrial avoid what was shaping up to be it's worst daily loss (9 days) record in nearly forty years. The decision by OPEC has let the DOW post a daily gain led by the energy stocks, but it's still posting a weekly loss of -1.86% on the week, its second weekly loss of the month. Much like the DOW the S&P 500 is posting a weekly loss of -.70% and the NASDAQ has joined the weekly loss party for the first time in four weeks with a loos -.59% on recent weakness on Friday.

Trade Tensions Oil Production

Crude oil has jumped +5.6% on the week, but most of those gains are from today as it jumped +4.4% after news of the OPEC decision. The Organization of the Petroleum Exporting Countries and other top crude producers, meeting in Vienna, agreed to raise output from July by about 1 million barrels per day (bpd) after its de facto leader Saudi Arabia persuaded Iran to cooperate in efforts to reduce the crude price and avoid a supply shortage.

The real increase, however, will be between 600,000 to 800,000 bpd because several countries that recently suffered production declines will struggle to reach full quotas, while other producers may not be able to fill the gap in production.

Key Levels To Watch Next Week:

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Leading Cannabis Biotech Could Soar

Posted on by The INO.com Team

Analysis originally distributed on Juney 13, 2018 By: Michael Vodicka of Cannabis Stock Trades

Blockbuster drugs are the holy grail of the pharmaceutical industry.

When annual sales of a hot new drug break the $1 billion mark, investors are usually rewarded with big gains.

This is what began happening in 2012 with Gilead Sciences Inc. (GILD).

In 2013, the FDA approved Gilead’s hepatitis C drug Sovaldi.

In 2014, Gilead scored an FDA approval for another Hep C drug, Harvoni.

Both drugs went on to quickly hit blockbuster status – sending shares of Gilead soaring – jumping more than 200% in the next two years.

Cannabis Biotech

Today, the young cannabis industry is in hot pursuit of its first-ever cannabis blockbuster – and it looks like a winner could be crowned on June 27. Continue reading "Leading Cannabis Biotech Could Soar" →

FAANG Stocks Push NASDAQ To Record High

Posted on by The INO.com Team

Hello traders everywhere. The FAANG stocks, Facebook, Alphabet, Amazon, Netflix, and Apple, are up between 0.2% and 3.4% on the day once again pushing the NASDAQ to a new all-time high over $7,800.00. In fact, not only is the NASDAQ posting record highs, so are Facebook, Netflix, and Amazon.

The move higher comes after the stock market was slammed on Monday and Tuesday, with the DOW erasing its year-to-date gains and presently trading lower for the year, after President Donald Trump's latest tariff threats against Chinese goods.

FAANG stocks

In other news, The 30-stock DOW is set to lose its last remaining original member, General Electric Co. (GE) The 126-year-old industrial conglomerate will be replaced by drug store retailer Walgreens Boots Alliance, Inc. (WBA) on June 26. Walgreens stock rose 5.3% on the news while GE stock has lost 1.5% after trading higher to start the day.

Key Levels To Watch This Week:

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