After its worst one-day plunge in more than 30 years, gold recovered modestly, to around the $1,400 mark. Gold’s recent precipitous drop was so extreme, that the decline marked a 3 standard deviation fall from its 34-week moving average. Statistically, the probability of such an event is nearly zero. But… Read More
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Sell to close the Brinker International (EAT) July 35 put option, at the market. Also sell to close the Avon Products (AVP) July 19 put option, at the market. Both Brinker International (EAT) and Avon Products (AVP) have displayed good relative strength in recent sessions, in the face of a… Read More
Stocks are recovering today after suffering their worst single-day setback in more than five months. Yesterday’s decline should come as no real surprise given the strength of the rally off the November lows. The major averages were overextended heading into the week and in need of a pullback. Traders found… Read More
Earlier today we closed out the National Oilwell Varco (NOV) May 70 call option as the stock’s near-term rebound is in doubt, taking a 64 percent loss on the position. We replaced that trade with the MGM Resorts International (MGM) June 12 put option, which is a buy with a… Read More
We are selling our positions in Gentex Corp. (GNTX) and Liquidity Services (LQDT). A gold selloff of the magnitude in recent days could indicate a coming deflationary event, such as what occurred in 2008. To hedge and protect our portfolio, we are taking the cautious route and… Read More
Sell to close the National Oilwell Varco (NOV) May 70 call option at the market. Buy to open the MGM Resorts International (MGM) June 12 put option with a limit set at $0.65 per contract. National Oilwell Varco (NOV) is struggling to find firm ground after yesterday’s broad selloff. Read More
A confluence of factors has resulted in intense selling in precious metals in recent days. Capping the decline, gold plunged 10 percent today – $154 an ounce, ending the session below $1,350. That brings the metal down more than $500 from its highs, a decline of nearly 30 percent and… Read More
Special Alert: Gold Gold is following through from last Friday’s action with another intense selloff today, falling below $1,400 on huge volume. Rumors about Cyprus being forced to liquidate their gold reserves – and worries that other struggling euro zone countries may do the same in the future – are pouring oil on the fire. While we cannot rule out its further near-term weakness because the momentum is so decidedly downward, gold prices this low cannot be sustained: high and increasing mining costs will force miners to reduce their exploration and expansion efforts, sapping production growth and supporting gold price. With this in mind, we will tolerate the near-term pain and continue to hold our gold and silver stocks Osisko Mining (OSKFF), Eldorado Gold (EGO) and First Majestic Silver (AG). Moreover, we will wait for an opportunity to add to the positions. Read More
Two top investing experts tell us what to buy. Read More
A year ago, we spoke to Eric Schoenstein, co-portfolio manager of Jensen Quality Growth (JENSX). He named three companies likely to benefit as the US economic recovery continued. Here’s how they’ve fared. Read More