If eprenetapopt eventually becomes a standard of care for cancers with p53 mutations, Aprea will become a multi-billion dollar market capitalization company. The Australian dollar will remain in focus as Treasury is scheduled to deliver an economic and fiscal update on Thursday. Denbury’s 2023 subordinated bonds are currently trading at around 3 cents on the dollar. With the US economic outlook growing more uncertain, these steps to insure a stronger recovery has and should continue to drive euro higher. During the four days these meetings have gone on and as the news of a deal leaked out, the Euro grew stronger relative to the dollar. All in all, potential unwind in crowded long euro and yen positions will likely fuel a short covering rally in the U.S. dollar. Although the macro environment is supportive, reflecting in the decline in the dollar and US real rates, speculators are cautious toward platinum.
The Dollar dumped.
The Direxion Daily Gold Miners Index Bear 2x Shares ETF (DUST) tracks the inverse performance of the NYSE Arca Gold Miners Index. Below, I discuss the macroeconomic factors coming into play and what some of the best available options are to get exposure to the gold price in a “safe” way. If we look at the period leading up to 2008, we can see that inflation, gold price, and interest rates are all steadily climbing, as is the stock market. Gold looks superb, silver looks better, and the miners look best of all. Even mainstream analysts have come out to say that they expect higher gold prices. However, as you may know, gold miners don’t always outperform gold. During the closedowns, we saw spot gold prices shoot up, as suppliers were having trouble delivering gold. While at certain points in time DUST could have provided some good trading opportunities, the overall trend of the gold and mining markets has been upward.
As I’ve mentioned before, inflation is a catalyst for gold prices, and it is also a catalyst for higher interest rates and leads to deleveraging. If gold closes below the VC PMI nine-year price momentum indicator of $1497, it would negate the bullish signal to neutral. In essence, investing in the DUST means that you expect shares of gold miners to go down, which probably means you also think gold prices will come down. If you are thinking about investing in gold, I’d recommend allocating some funds to physical gold and select mining stocks.
Natural gas fundamentals have been very bearish this year as poor winter demand was followed by weakening economic conditions. Clearly, gasoline prices were falling beginning in 2018 and the global pandemic facilitated a further and rapid drop. Oil services firms will need ample liquidity to survive current recessionary pressures. The last downturn in the oil patch caused some of the lesser-capitalized firms to go belly up. KOLD is a relatively straightforward ETF which is shorting the Bloomberg Natural Gas Subindex at 2 times leverage. Deep water E&P may not be economical at today’s oil prices.BKR’s ample liquidity and low trading multiple make the stock a hold into earnings. To set the stage for this section, let’s start out with a quantitative relationship which helps call changes in the price of natural gas. Orbcomm has an industrial user base in transport, maritime and oil & gas, which were some of the hardest hit due to oil prices and slowing trade. Gasoline prices and increases in fuel efficiency are important factors, but there are also some significant demographic and cultural dynamics in this data series.
I am quite bullish natural gas. It is instructive to go back and study the history of natural gas prices as it relates to production levels. If one valued Denbury at approximately 4.0x EBITDA, it would be worth a total of $1.068 billion using $45 WTI oil as a long-term price. Specifically, it is my view that over the coming months, we will see natural gas fundamentals strongly shift to the bullish side resulting in losses for long KOLD traders.
While President Donald Trump said daily White House pandemic briefings would resume in the face of out-of-control U.S. infections, he has also been focusing attention on anti-police brutality demonstrations. Sadly, they are told that using the Fed’s giant electronic fiat photocopier to buy zombie government and corporate bonds with printed fiat is their “ticket to ride”. But the same analytical tools that led me to predict a Trump win last time are showing me his chances are poorer this time. The ACLU has vowed to take the Trump administration to court over the new census memo. Donald Trump’s former lawyer Michael Cohen claims the president made racist remarks about Barack Obama and former South African president Nelson Mandela. This industry group has been leading the tech heavy Nasdaq Composite higher recently, but it is now having it’s second distribution day since July 9th, 2020.
Mr Trump has threatened school systems that do not reopen in the fall with federal funding, saying he will withhold it if kids are back in classrooms. The “unflattering details” include Mr Trump’s alleged “pointedly anti-Semitic remarks and virulently racist remarks against such Black leaders as President Barack Obama and Nelson Mandela.” Should the Nasdaq Composite experience a few more distribution days it could be signaling something more serious for most of the leading technology stocks. The activities discussed in the memo flow directly from Donald Trump’s executive order aiming to dole out substantial punishments on anyone who destroys a federal monument or statue. I know it well since I was one of very few analysts who predicted a Trump victory in 2016, even though he was behind in the polls. Trump said he would deploy hundreds of armed federal agents to cities run by Democratic mayors, as he has done in Portland, Oregon. There was no US data and stocks rallied but investors are less interested in buying dollars given ongoing concerns about the US economic outlook.
German leader, Angela Merkel, has usually sided with the more conservative states and opposed moving to a position of greater fiscal union. The deal was not €1.8 trillion although that is what the EU would like everyone to believe. Not only have European leaders agreed on a huge bailout, but also a mechanism for joint debt-pooling at the European Union level. On Monday, the EU leaders reached a deal amounting to €750 billion to reconstruct the region’s pandemic-stricken economies. The EU rounded up €1.75 trillion to €1.8 trillion.