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Moderated by Thom Calandra of the Calandra Report, the precious metals panel at this year’s New Orleans Investment Conference featured several well-known gold analysts and market watchers.

Omar Ayales, Rich Checkan, Jeff Deist, Avi Gilburt and Dana Samuelson took the stage for a 35-minute discussion that began with a discussion of the monetary value of gold and Bitcoin, as well as the liquidity pros and cons of both.

For Deist, general counsel at Monetary Metals, it all comes down to a word he used frequently: “moneyness.”

“Gold still has a degree of moneyness. (But) gold isn’t money in the sense that you can’t use it at the street retail level anywhere in the world — there’s no demand for that,” he told the audience at the show.

“So when we talk about gold, or any other precious metal, it is a monetary asset. It has a degree of moneyness,” Deist went on to explain. “Bitcoin, I would argue, (also) has a degree of moneyness, treasuries have a degree of moneyness. And then there’s liquidity and a demand that may give them money-like properties.”

From there, Calandra offered an anecdote about the difficulties associated with selling physical gold, prompting Ayales, chief trading strategist at Gold Charts R Us, to highlight the ease of monetizing cryptocurrencies.

“Cryptos are so easily bought and sold, the platforms allow for that, (which) allows for the younger generation to be able to be more invested, whereas gold is a bit harder,” he said.

‘Unless you have a trading account, or you buy exchange-traded funds, or you have a coin dealer or somebody that you can buy directly from, it’s a little bit harder, especially if you want to sell.”

Reciprocal gold theory

Calandra then brought up reciprocal gold theory, which suggests that gold’s value is maintained through its relationship with currency and economic confidence, acting as a mirror reflecting the stability or instability of fiat money.

According to reciprocal gold theory, as trust in fiat currencies diminishes — often due to excessive debt, inflation or poor monetary policies — the value of gold tends to rise, making it a reciprocal measure of confidence in the financial system. Essentially, gold’s worth is inversely related to the perceived strength of paper money.

For Calandra, who believes in reciprocal gold theory, gold will eventually ‘pay back’ the gains seen in blue-chip stocks, like Fortune 1000 companies, noting that as stocks rise higher, gold remains undervalued.

He noted that when these stocks decline, or confidence in them wanes, people may shift investments into gold. With that in mind, he asked panelists when investors will raise their gold allocations from 1 percent to 2 to 3 percent.

For his part, Deist pointed out that North American investors have a different relationship with gold than investors in Turkey or India, where the average citizen owns more gold in the form of jewelry, dishware or physical coins.

Deist expects North American investors to bolster their gold holdings soon.

“I think we have to have a cultural shift where people under a certain age — as is happening right now — start to feel like some people in this room (felt) in the ’70s. You have a solid decade of seeing your paycheck and your savings eroded, and people are going to be looking for the exit,” he commented.

Building on Deist’s thoughts, Dana Samuelson, president of American Gold Exchange, highlighted the differences between these countries and the US. “The gold cultures around the world are in countries where there’s either been war on their shores, or their currencies failed. It’s as simple as that,” he said.

“We’ve never had either of those things happen, and until we do, I don’t think we’ll really have a true gold culture in the US on a very fundamental level, which almost every other country in the world has to some degree.”

Weighing in, Rich Checkan, president and COO of Asset Strategies International, explained that while the media celebrates stock market highs, these are only nominal gains in “worthless” US dollars.

In reality, when compared to gold, the market hasn’t reached true highs.

“You look at the S&P 500 (INDEXSP:.INX) … with reinvestment dividends, over this millennium, it’s up a little over 500 percent, gold’s up over 800 percent in the same time period,” said Checkan.

“If you measure the Dow Jones Industrial Average (INDEXDJX:.DJI) in gold, we’re not even to the point we were at during the.com bubble. The Dow is 60 percent of the way to the dot-com bubble. We’re not making new real highs.”

Paper silver and price performance

Turning the panel’s attention to silver, Calandra asked, “What, if anything, will ever be done about the massive short position in paper silver led by JPMorgan Chase (NYSE:JPM)?”

According to many silver market commentators and watchers, this short position in paper silver refers to large-scale bets against the metal’s price using financial derivatives rather than physical metal.

Critics argue that such positions can artificially influence silver prices by increasing selling pressure. While some suspect market manipulation, others see it as standard trading practice.

Responding to Calandra, Avi Gilburt, lead analyst and founder of Elliott Wave Trader, said he expects JPMorgan and other institutes to cover their shorts. “Historically, when you approach the end of the cycle, silver is what brings up the rear,” said Gilburt, referring to a “massive spike” in silver in 2011 at the end of that cycle.

Indeed, the white metal rose to an all-time high of US$48.12 per ounce in April 2011.

Later in the discussion, Gilburt explained that he uses the KISS — keep it simple, stupid — method for market analysis, noting that markets top when people get too bullish, and when they are too bearish markets bottom.

To know when the market is too bullish, Gilburt uses Fibonacci mathematics and Elliot Wave Trader “structures.”

“When sentiment has reached a peak in the metals, it’s often when you see that final parabolic rally, when silver is also rallying parabolically alongside gold,” he said. “That’s how we look at it; we try to keep it as simple as possible.”

Purchasing power

Anyone familiar with Calandra is likely aware that he often refers to the purchasing power of gold.

One way to measure this is via the gold/silver ratio. Calandra has also previously discussed how over the years an ounce of gold has consistently been the right price to buy a good-quality suit.

During the precious metals panel, Samuelson offered a different metric, the gold/oil ratio.

“One thing that’s come on my radar recently is the gold-to-oil ratio,’ he said.

‘If you go back to the ’80s, the gold-to-oil through 2008 was very consistently about eight to 10 parts oil equal to one part gold. And now that ratio has been up close to 40 to one.”

Deist also referenced purchasing power when discussing rising US debt and higher Treasury yields, suggesting that increasing interest payments could destabilize the US financially.

“Maybe gold is finally decoupling from all of these standard metrics we use, if we look at it only in terms of what it can buy, as opposed to looking at it nominally and looking at these parabolic rises,” he said. “Maybe the world is finally shrugging and saying the US dollar as the world’s reserve currency is an unsolvable problem.”

Deist went on to point to the paradox created by countries using the dollar as a reserve currency.

Countries need dollars for trade, so a dollar crash isn’t in their short-term interest. However, in the long term, there’s a desire for alternatives to the dollar due to US deficit spending and inflation.

“As long as we have this intractable problem, America will always spend in deficits. It’ll always export inflation, it’ll always use the dollar to try to enjoy a living standard it hasn’t earned,” said Deist.

Gold and silver price predictions

The panelists also offered their forecasts for where precious metals prices may go.

Moderator Calandra expects to see gold reach US$3,000 per ounce by the end of 2024.

Samuelson made a more conservative prediction, explaining that he sees gold in a consolidation phase, trading between US$2,650 and US$2,750 to end the year, depending on geopolitical events.

For 2025, he believes gold could reach US$3,500, while silver could hit US$40 to US$45 per ounce.

Gilburt anticipates one more push higher for gold before a multi-month consolidation. In his view, the yellow metal will then reach a level of US$3,300 to US$3,400 after the consolidation.

For Checkan, gold could rally to US$3,800 before the end of the current bull market, similar to previous bull cycles.

Ayales sees gold potentially reaching US$4,000 by 2025, based on a parabolic move comparable to the 2000 to 2011 period. Deist didn’t offer a prediction, but sees gold potentially benefiting from a west-to-east wealth shift.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

3 Mins Read

China Restricts Key Critical Minerals Exports in Response to US Chip Controls

China has set new US export restrictions on essential minerals, including gallium, germanium and antimony.

The measures, announced on Tuesday (December 3) are seen as a direct response to US export controls aimed at limiting China’s access to advanced semiconductor technology. Citing national security concerns, the US recently expanded its list of companies subject to export controls to include 140 Chinese entities connected to semiconductor development.

China’s Ministry of Foreign Affairs has criticized the US measures as excessive, saying they undermine global trade norms.

Speaking after China’s retaliatory ban was made public, spokesperson Lin Jian said the Asian nation will take ‘resolute measures’ to safeguard the interests of its companies, framing the export curbs as necessary to protect national security and counteract what it considers the malicious suppression of its technological progress.

The Chinese Ministry of Commerce said the export of the affected minerals, which are critical to the production of semiconductors, electric vehicles and other high-tech applications, will now require specific approval.

Gallium and germanium are indispensable for the production of semiconductors used in mobile devices, solar panels and military applications. Antimony is utilized in flame retardants, batteries and certain weapons systems.

Graphite is also mentioned in the ministry’s order, with stricter reviews of end usage needed for items sent to the US.

China is the leading global supplier of these materials, dominating their production and export markets.

China’s restrictions seen as retaliatory

China’s decision intensifies a series of tit-for-tat actions between itself and the US.

In mid-2023, China imposed licensing requirements for exporting gallium and germanium. US companies rely heavily on these minerals, with about half of the country’s gallium and germanium imports originating from China.

This past August, China announced new export restrictions on antimony, effective in mid-September.

The new US measures include controls on chip-making equipment, software tools and high-bandwidth memory chips — all aimed at curtailing China’s ability to develop advanced technologies with military applications.

The Chinese government has labeled these actions as an abuse of national security considerations. Both sides justify their respective controls as necessary for safeguarding national security.

Supply chain resiliency in focus

Analysts anticipate that China’s critical minerals export ban will push businesses in the US to accelerate efforts to diversify their supply chains and explore alternative sources for these materials.

The semiconductor, automotive and renewable energy sectors are expected to be most directly impacted.

The US Geological Survey notes that while the US holds deposits of these critical minerals, domestic mining and production have been limited. Efforts to develop local sources are underway, but remain in the early stages.

Ongoing tensions between the US and China have already influenced market dynamics, with prices for some minerals, including antimony, more than doubling this year.

The US Department of Commerce has yet to issue a detailed response. However, previous statements highlight the Biden administration’s focus on securing supply chains for critical minerals.

Recent initiatives, including the CHIPS and Science Act, aim to bolster domestic manufacturing capacity and reduce reliance on foreign suppliers.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

8 Mins Read

Dollar stores are struggling to win over bargain hunters — here’s why

As shoppers look for value, dollar stores might seem to be logical destinations. But that penny-pinching mentality hasn’t been enough to lift sales for Dollar Tree and Dollar General.

Shares of the deep discounters have plunged so far in 2024. The retailers have each cut their full-year forecasts because of weaker-than-expected sales. And both have had leadership shakeups: Dollar General and its former CEO Jeff Owens parted ways in October 2023, and Dollar Tree CEO Rick Dreiling stepped down Nov. 4. Dollar Tree is also exploring selling off Family Dollar, its more grocery-focused brand.

Those results are a sharp turnabout for the dollar stores, which were once Wall Street darlings. The struggles have put scrutiny on the two retailers, which will report quarterly earnings this week.

Peter Keith, a retail analyst for Piper Sandler, said a challenging mix of factors hurt the retailers. Lower-income customers, who tend to shop at the chains, are most vulnerable to economic changes such as inflation. Razor-thin operating models, such as lean staffing and low hourly pay, contributed to sloppy aisles and a poor customer experience, he said. And competition grew fiercer, as legacy retailers such as Walmart made significant investments in e-commerce to keep up with consumers’ changing habits during the pandemic, he said.

“Dollar stores inherently are sort of convenient because they have a lot of locations, but they don’t have very strong digital offerings,” he said. “And I think that’s become a disadvantage in the current environment.”

Shares of Dollar Tree and Dollar General have both fallen more than 40% this year, while the S&P 500 has gained more than 26% during the same period.

For decades, dollar stores have drawn in shoppers by offering a wide array of items at simple prices and smaller sizes that fit a constrained household budget. Yet each of the dollar store banners has a different spin on strategy and assortment.

Dollar Tree is made up of two store brands, its namesake and Family Dollar. Dollar Tree sells a lot of seasonal and discretionary items, such as party supplies and toys, at stores in suburban strip malls.

Family Dollar, which Dollar Tree acquired in 2015 for nearly $9 billion, is found in more urban areas and sells more food and household staples. Family Dollar has been the weaker part of Dollar Tree. The company plans to close about 1,000 Family Dollar stores and is exploring a potential sale of the business.

Dollar General focuses primarily on rural customers. It historically sought out small towns or residential areas where shoppers otherwise had to drive a long distance to get to a grocery store or a Walmart. In recent years, it’s debuted a new store concept, Popshelf, which sells more discretionary merchandise aimed at middle- and upper-income shoppers, such as makeup, candles and throw pillows.

Though they deployed different strategies, both chains relied on store openings to fuel sales growth. The two retailers are the largest in the U.S. by store count. Dollar Tree has more than 16,000 stores, while Dollar General has nearly 20,000 locations across the U.S. Between the two brands, there is more than one dollar store for every 10,000 people in the U.S.

They have many more stores than their rivals: Walmart has roughly 4,600 stores, and Target has nearly 2,000 locations across the country.

Yet high inflation has tested their business models. About 60% of Dollar General’s overall sales come from households with an annual income of less than $30,000 per year, CEO Todd Vasos said at Goldman Sachs’ retail conference in September.

Those frequent customers tend to feel the pinch first during challenging economic times.

Vasos said in September that Dollar General saw “a pretty drastic slowdown” in the middle of the three-month period that ended Aug. 2. He said the drop-off “happened across every region, every division that we had, almost the same amount” — including its newest stores.

And the past two years of high inflation have played out differently than in the Great Recession, Piper Sandler’s Keith said. During the roughly 2007-to-2009 period, middle- and upper-income households started shopping more at the dollar stores to stretch their budgets further.

This time around, unemployment has remained low, and other value-focused retailers, including Walmart, have attracted those middle- and upper-income shoppers, Keith said.

In the most recent fiscal quarter, most of Walmart’s market share gains came from households with annual incomes of over $100,000, CFO John David Rainey said.

Warehouse clubs such as Costco and Walmart-owned Sam’s Club, online players such as Amazon and Temu, and private label-focused grocers Aldi and Trader Joe’s are also competing for — and sometimes stealing away the business of — price-conscious shoppers.

Dollar General has acknowledged stiffer competition. “The guys in Bentonville [the Arkansas home of Walmart’s headquarters] took a little bit larger piece” of the retailer’s middle-income customers, Vasos said at the September conference.

On Dollar Tree’s earnings call in early September, Chief Operating Officer Mike Creedon, who was recently named interim CEO, said the retailer had to cut its full-year outlook to reflect “how the challenging macro environment continues to pressure our customers.”

He said Family Dollar’s core customer, who is lower income, “remains weak.” Yet he said Dollar Tree, a chain that draws a more diverse mix of customers, noticed a pullback from shoppers across middle and upper incomes in the recent quarter, as the toll of inflation, high interest rates and economic pressures mounted.

Discretionary merchandise items, which tend to be more profitable than food or household essentials, were some of the worst sellers at Family Dollar in the most recent quarter, as shoppers bought fewer home decor, seasonal and beauty products, Creedon said on the earnings call.

But some of the challenges for the dollar stores are more self-inflicted.

Both companies have faced backlash on social media and agreed to pay millions of dollars in fines to federal regulators for the conditions of stores and warehouses, including cluttered aisles and blocked fire exits. Dollar General in July reached a settlement with the U.S. Department of Labor to pay $12 million in penalties for workplace safety concerns, on top of more than $21 million in fines from the federal Occupational Safety and Health Administration since 2017.

Dollar Tree agreed to improve worker safety in a 2023 settlement with federal regulators after it had racked up more than $13.1 million in OSHA fines since 2017. In February, it pleaded guilty and agreed to pay nearly $42 million after inspectors found live and dead rodents in an Arkansas warehouse that stored food, drugs and cosmetics.

Those safety violations can scare away customers who see those news headlines and notice when employees seem overworked and shelves are sloppy, Keith said.

“No one wants to shop in what looks like a kind of a dirty, messy environment,” he said.

Some of those problems date back to the Covid pandemic, said Alasdair James, who was Dollar Tree’s chief customer officer from early 2021 to early 2022. As the government paid out stimulus funds and the Covid virus spread, retailers struggled to fill jobs at their stores.

Some Dollar Tree locations wound up with a single worker who was left to juggle all the duties, from checking people out to stocking shelves — resulting in messy stores that turned off shoppers, he said.

Plus, vendors and consumer packaged goods companies prioritized big-box stores during the pandemic by making the more typical bulk sizes of items rather than the downsized, budget-friendly sizes sold by dollar stores, James said.

He said those out-of-stocks and poorly staffed stores drove customers to rivals.

Dollar Tree has also shaken up its pricing approach. During the pandemic, the retailer raised the price of most of its items to $1.25, and it has rolled out merchandise at higher price points, including $3, $5 and $7.

In a statement, a Dollar Tree spokesperson said the “multi-price expansion at Dollar Tree, which we believe will be a long-term growth driver, continues to resonate with our customers.” He described the retailer as “a solution for families who may be feeling the financial strain of inflation,” including families who don’t live near a grocery store or pharmacy.

Both companies also face a new risk under the administration of President-elect Donald Trump. Trump has pledged to roll out additional tariffs on imports from China, a source of many goods sold at the dollar stores.

Dollar General declined to comment about the company’s challenges.

It recently touted one strategy aimed at attracting more visits from holiday shoppers, though. Dollar General is promoting a “24 Days of Savings” event in December, where it offers a deal on a featured item each day. The promotions, such as discounted holiday mugs or 12-ounce packs of bacon, are only available in stores.

— CNBC’s Ryan Baker contributed to this story.

This post appeared first on NBC NEWS

5 Mins Read

Amazon sued by D.C. AG for allegedly excluding neighborhoods from Prime delivery

Washington, D.C.’s attorney general sued Amazon on Wednesday, accusing the company of covertly depriving residents in certain ZIP codes in the nation’s capital from access to Prime’s high-speed delivery.

The lawsuit from AG Brian Schwalb alleges that, since 2022, Amazon has “secretly excluded” two “historically underserved” D.C. ZIP codes from its expedited delivery service while charging Prime members living there the full subscription price. Amazon’s Prime membership program costs $139 a year and includes perks like two-day shipping and access to streaming content.

“Amazon is charging tens of thousands of hard-working Ward 7 and 8 residents for an expedited delivery service it promises but does not provide,” Schwalb said in a statement. “While Amazon has every right to make operational changes, it cannot covertly decide that a dollar in one zip code is worth less than a dollar in another.”

Amazon spokesperson Steve Kelly said in a statement it’s “categorically false” that its business practices are “discriminatory or deceptive.”

“We want to be able to deliver as fast as we possibly can to every zip code across the country, however, at the same time we must put the safety of delivery drivers first,” Kelly said in a statement. “In the zip codes in question, there have been specific and targeted acts against drivers delivering Amazon packages. We made the deliberate choice to adjust our operations, including delivery routes and times, for the sole reason of protecting the safety of drivers.”

Kelly said Amazon has offered to work with the AG’s office on efforts “to reduce crime and improve safety in these areas.”

In June 2022, Amazon allegedly stopped using its own delivery trucks to shuttle packages in the ZIP codes 20019 and 20020 based on concerns over driver safety, the suit states. In place of its in-house delivery network, the company relied on outside carriers like UPS and the U.S. Postal Service to make deliveries, according to the complaint, which was filed in D.C. Superior Court.

The decision caused residents in those ZIP codes to experience “significantly longer delivery times than their neighbors in other District ZIP codes, despite paying the exact same membership price for Prime,” the lawsuit says.

Data from the AG shows that before Amazon instituted the change, more than 72% of Prime packages in the two ZIP codes were delivered within two days of checkout. That number dropped to as low as 24% following the move, while two-day delivery rates across the district increased to 74%.

Amazon has faced prior complaints of disparities in its Prime program. In 2016, the company said it would expand access to same-day delivery in cities including Atlanta, Chicago, Dallas and Washington, after a Bloomberg investigation found Black residents were “about half as likely” to be eligible for same-day delivery as white residents.

The ZIP codes in Schwalb’s complaint are in areas with large Black populations, according to 2022 Census data based on its American Community Survey.

The Federal Trade Commission also sued Amazon in June 2023, accusing the company of tricking consumers into signing up for Prime and “sabotaging” their attempts to cancel by employing so-called dark patterns, or deceptive design tactics meant to steer users toward a specific choice. Amazon said the complaint was “false on the facts and the law.” The case is set to go to trial in June 2025.

According to Scwalb’s complaint, Amazon never communicated the delivery exclusion to Prime members in the area. When consumers in the affected ZIP codes complained to Amazon about slower delivery speeds, the company said it was due to circumstances outside its control, the suit says.

The lawsuit accuses Amazon of violating the district’s consumer protection laws. It also asks the court to “put an end to Amazon’s deceptive conduct,” as well as for damages and penalties.

To get packages to customers’ doorsteps, Amazon uses a combination of its own contracted delivery companies, usually distinguishable by Amazon-branded cargo vans, as well as carriers like USPS, UPS and FedEx, and a network of gig workers who make deliveries from their own vehicles as part of its Flex program.

Amazon has rapidly expanded its in-house logistics army in recent years as it looks to speed up deliveries from two days to one day or even a few hours. In July, the company said it recorded its “fastest Prime delivery speeds ever” in the first half of the year, delivering more than 5 billion items within a day.

In relying on its own workforce, Amazon has assumed greater control over its delivery operations.

In his complaint, Schwalb cites an internal company policy that says Amazon may choose to exclude certain areas from being served by its in-house delivery network if a driver experiences “violence, intimidation or harassment.” The company relies on UPS or USPS to deliver packages in excluded areas.

This post appeared first on NBC NEWS

5 Mins Read

After a 29% Bounce, Can SMCI Reclaim Its Former Glory?

When going through your morning trading routine, you’re likely to tune into the news for unfolding events, run technical scans, check sentiment and breadth indicators, and utilize any other tool that can provide a snapshot of what’s going on “now” before or during the market’s opening hours. After all, each day presents something new.

But what if a stock makes headlines for an unusually massive jump due to a significant news event? How might you go about assessing the favorability of that stock amid a rush of stampeding bulls? That was the case Monday morning with Super Micro Computer Inc. (SMCI).

On Monday morning, December 2, SMCI claimed the top position in StockCharts’ Market Movers tool, featured on the Dashboard. The ranking highlighted SMCI as the most actively traded stock across the S&P 500 and NASDAQ, as illustrated below.

FIGURE 1. MARKET MOVERS PANEL FOR NASDAQ ON DECEMBER 2. SMCI was the most actively traded stock in the S&P 500 and the Nasdaq.Image source: StockCharts.com. For educational purposes.

Can SMCI Stock Recover After Its 85% Plunge?

Typically, when analyzing a stock that’s performing relatively well, you’d compare it to a benchmark like the broader market (S&P 500) or its sector, checking various breadth indicators to see how the stock and its benchmarks are performing.

SMCI’s dramatic underperformance renders traditional comparisons to benchmarks unnecessary. Yes, it was that bad. Once a high-flying AI stock, SMCI made headlines after plummeting 85% just weeks ago amid concerns over its financial integrity. While this event grabbed attention, the stock has been on a steady downward trend since the start of the year.

Despite this, on Monday, shares jumped about 29% after a special committee reaffirmed that there was “no evidence of misconduct” by the company. This was enough to ease investor fears despite the risks that might still weigh on the stock. Given the dramatic surge, the news likely spurred many bullish investors to seize the opportunity, betting on a rebound at “bargain basement” prices.

However, “not so fast,” as a daily chart of SMCI would indicate.

FIGURE 2. DAILY CHART OF SMCI. The day’s impressive surge may not look so optimistic when viewed from a larger context.Chart source: StockCharts.com. For educational purposes.

Look at the volume spike coinciding with Monday’s price surge (magenta rectangle). Both may be slightly notable relative to previous sessions. In the bigger picture, though, it’s not a remarkable event. What stands out, however, is the resistance level near $50 (indicated by the blue dotted line) and the Stochastic Oscillator‘s “overbought” reading (marked by the magenta circle), suggesting that momentum may soon slow. In short, watch what the price does at that level.

But let’s suppose that the current reversal eventually sustains itself and breaks above resistance at $50. The next step would be identifying potential price targets or reversal points ahead. Additionally, it’s important to monitor key longer-term indicators for further confirmation.

How to Trade SMCI Stock: Entry/Exit Points and Price Targets

Let’s switch over to a weekly chart.

FIGURE 3. WEEKLY CHART OF SMCI. The significance of historical volume is quite telling in this chart. The $20 and $90 price ranges have seen the highest trading volumes.Chart source: StockCharts.com. For educational purposes.

If the price breaks above the immediate resistance level at $50, the next key levels to monitor are $65, $95, and $120 (its all-time high). These levels, indicated by dashed blue lines, could serve as potential points for profit-taking, resistance, or reversals, depending on the broader technical and fundamental context. In short, these are your potential price targets. A break above $50 would make for a favorable entry point, and a good stop-loss level would be at $41, marked by the magenta dotted line, as it served as support from September through October.

A key indicator to watch if price breaks above $50 is the Chaikin Money Flow (CMF). Ideally, you would want to see the CMF rise above the zero-line, as it would indicate that buyers are taking control of the stock, suggesting volume-driven buying pressure that might be adequate enough to lift the stock higher. If SMCI falls before breaking above $50, what’s the likelihood of another bounce at $20, forming a double bottom?

While SMCI’s bounce is a foggy mix of fundamental speculation, leading SMCI bulls to trade technically until more definitive information on the company’s prospects becomes clearer, the Volume-by-Price indicator offers some valuable insight. A Volume-by-Price analysis suggests that the $20 and $90 price ranges have experienced the highest trading volumes. This means that these ranges might serve as significant support and resistance levels, respectively, due to heavy trading concentrated at these prices. So, if SMCI’s price declines, it is likely to find support once again at the $20 level.

At the Close

SMCI’s dramatic 29% rebound drew much attention, but you should approach such euphoria cautiously, tempering the optimism with technical reality. The Market Movers tool is useful for drawing attention to stocks experiencing the highest levels of trading volume and the biggest percentage gainers and decliners. But just because you see a bull rush doesn’t mean you should immediately jump into the fray. Watch the key levels discussed above and if SMCI signals an entry, set your sights on the targets and set your stops as well. If SMCI trends higher, consider trailing your stops higher to reduce your losses or ensure your profits.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

2 Mins Read

Joe Burrow reveals on ‘Hard Knocks’ that he bought a Batmobile

Cincinnati Bengals quarterback Joe Burrow revealed to teammate and receiver Tee Higgins that he bought a Batmobile during Tuesday night’s first episode of ‘Hard Knocks: In Season with the AFC North.’

‘Have I told you I bought a Batmobile?’ Burrow asked Higgins.

‘Did you get it yet though?’ Higgins replied.

‘I don’t get it for like a year, but I bought it,’ Burrow added.

Receiver Ja’Marr Chase joined the discussion.

All things Bengals: Latest Cincinnati Bengals news, schedule, roster, stats, injury updates and more.

‘You gotta go to the vengeance Batman where he had the s—ty a– eye thing on,’ Chase said.

‘I think I gotta go all in and go for like the expensive Batsuit too, yeah,’ Burrow said.

‘The suit and all?’ Chase joked. ‘S–, that s— gonna be funny as hell. I ain’t gonna lie. That s— gonna be hilarious.’

‘What if I wore it to every game?’ Burrow joked. ‘I just wore the full Batsuit, Batmobile, to every game. … If I go crazy on Halloween. … 500 (yards) and seven touchdowns, I wear it again.’

‘I’d wear that b—- to the club,’ Higgins joked.

‘You’re gonna get lost in there,’ Chase joked. ‘It’d be so dark in there.’

A November tweet from @LightsCameraPod was shown during the show, indicating that the tumbler Batmobile from Christopher Nolan’s Dark Knight Trilogy is available for purchase, with Warner Bros. selling 10 ‘fully functional but not street legal’ replicants of the iconic vehicle.

Video via Twitter from @NFL:

From the Bengals via Twitter:

This post appeared first on USA TODAY

4 Mins Read

NBA Cup bracket takes shape: Who reached quarterfinals?

The Milwaukee Bucks have put that 2-8 start in the rearview mirror.

With Tuesday’s 128-107 victory against the Detroit Pistons, the Bucks secured a spot in the NBA Cup quarterfinals with a 4-0 record in Eastern Conference Group B play. They moved to 11-9 overall.

Giannis Antetokounmpo and Damian Lillard have found offensive compatibility, the defense has improved and the Bucks have now won nine of their past 10 games, including seven consecutive.

The New York Knicks also advanced to the quarterfinals with a 4-0 record in East Group A play after beating the Orlando Magic 121-106 Tuesday.

Though they fell to 3-1 in group play, the Magic also reached the quarterfinals as the East wild card, beating Boston (also 3-1 in group play) in the point differential tiebreaker. All the Magic had to do was not lose by 37 or more.

It got close.

The Knicks led by 37 with 2:54 left in the third quarter, and the Celtics were rooting for their division rival. The Magic, however, did just enough in the fourth quarter.

The Atlanta Hawks qualified for the quarterfinals last week as the winner of East Group C with a 3-1 record, edging Boston on the head-to-head tiebreaker in group play.

In the West, Houston clinched Group A and Golden State won Group C last week, grabbing quarterfinal berths. In Group B, Oklahoma City defeated Utah, 133-106, advancing with a 3-1 record and head-to-head tiebreaker advantage over 3-1 Phoenix.

Dallas snagged the wild card with a 121-116 victory against Memphis – it was enough for the Mavericks to win the point differential tiebreaker over the Suns.

East Group A

Group winner: New York Knicks; Orlando Magic also advance as wild card

The Knicks, who ended Orlando’s six-game winning streak, have been a tad uneven this season as they work newcomers Karl-Anthony Towns and Mikal Bridges into the lineup. But they found success in Cup play, and All-NBA guard Jalen Brunson led the way with his scoring and passing.

Even without injured All-Star Paolo Banchero, the Magic have continued to win games, and Franz Wagner is a significant part of that. He averaged 30.7 points, 9.0 rebounds, 6.3 assists and 2.3 steals in Orlando’s three Cup victories.

East Group B

Group winner: Milwaukee Bucks

The Bucks are one of the hottest teams in the league and moving up the Eastern Conference standings. Antetokounmpo and Lillard each averaged almost 30 points in the three Cup games in which they played, and against Detroit, they combined for 55 points – 28 for Antetokounmpo and 27 for Lillard.

East Group C

Group winner: Atlanta Hawks

Atlanta’s Jalen Johnson collected 20.3 points, 11.8 rebounds, 7.3 assists, 1.8 blocks and 1.0 steals and shot 54.7% from the field in four Cup games.

West Group A

Group winner: Houston Rockets

The Houston Rockets, who are in second place in the West, are one of the league’s talented young teams. Seven players average double figures in points including 22-year-old Jalen Green (18.9 points per game) and 22-year-old Alperen Sengun (18.8 points, 10.9 rebounds, 5.3 assists per game).

West Group B

Group winner: Oklahoma City Thunder

Yes, Shai Gilgeous-Alexander is a star and MVP candidate for Oklahoma City. And Jalen Williams is shaping into an All-Star. He had a game-high 28 points on 12-for-18 shooting in the Thunder’s victory against Utah and also had had five assists and three steals.

The Suns needed Dallas to lose or they needed to beat San Antonio by 28 points to earn the wild card and neither happened.

West Group C

Group winner: Golden State Warriors; Dallas Mavericks also advance as wild card

Golden State clinched the group last week with a 3-0 record, and Warriors star Steph Curry averaged 23 points, 7.0 assists and 7.0 rebounds and shot 49% from the field and 46.2% on 3s in those three games.

The Mavericks trailed the Grizzlies 111-103 with 3:34 left in the fourth quarter and were in danger of being eliminated. But they outscored Memphis 18-5 to finish the game and advanced. Luka Doncic had a game-high 37 points and 12 rebounds for Dallas.

When are the NBA Cup knockout round games?

Here is the knockout round schedule:

Quarterfinals: Dec. 10 and Dec. 11 in home markets

Orlando Magic at Milwaukee Bucks
Atlanta Hawks at New York Knicks
Dallas Mavericks at Oklahoma City Thunder
Golden State Warriors at Houston Rockets

Semifinals: Dec. 14, 4:30 p.m. ET, TNT and 8:30 p.m. ET, ABC in Las Vegas

Final: Dec. 17, 8:30 p.m. ET, ABC in Las Vegas

(This story was updated to add new information.)

This post appeared first on USA TODAY

5 Mins Read

College Football Playoff rankings grades: How committee fared

In less than one week, the College Football Playoff field will finally be selected. Is the committee on the correct path?

With the regular season over, the field for the inaugural 12-team playoff is starting to take shape as conference championship week has arrived. Regardless whether teams play this week or not, several squads are still trying to make arguments as to why they should be in the field, or why they should have home-field advantage in the first round.

This weekend is the final chance to not only impress the selection committee, but erase all doubt by punching the automatic ticket to the playoff. The penultimate rankings give some hints as to what can unfold on Sunday, but that doesn’t mean it’s all correct. Here are the grades for the selection committee’s choices in the latest rankings reveal.

1. Oregon: A+

After a perfect regular season, the Ducks head into the Big Ten championship game with a playoff spot secured, and even the top seed.

2. Texas: A

The win against Texas A&M wasn’t all that impressive from an offensive standpoint, but the ranking could be justified with a revenge win over Georgia.

3. Penn State: A-

Penn State suddenly finds itself with a chance to get a first-round bye. However, it should drop a few spots if the Nittany Lions can’t beat Oregon.

4. Notre Dame: B+

With the way Notre Dame has been playing, the Fighting Irish have a case to be ranked over Penn State. Regardless, they can’t be any higher than the No. 5 seed, which it has locked up.

5. Georgia: B

Barely surviving Georgia Tech will assure the Bulldogs make the playoff, even if they don’t play pretty. If Georgia loses to Texas, how far it drops off will be something to watch on Sunday.

6. Ohio State: D

Yes, Ohio State has beaten Penn State and Indiana. Yet they lost to a horrible Michigan team. The Buckeyes should have dropped more than this and shouldn’t be in position to host a playoff game.

7. Tennessee: C-

The Volunteers have to be fuming if they have to play on the road even after Ohio State’s disastrous performance. Tennessee has a case to be the home team in the first round.

8. Southern Methodist: A

Take care of business in the ACC title game and SMU will be a top-three seed in the bracket. If SMU does lose to Clemson, it shouldn’t drop entirely out of the playoff field.

9. Indiana: A

Sitting pretty at No. 9, Indiana is feeling comfortable in its playoff spot, even if it’s a near certainty the Hoosiers will have to play on the road.

10. Boise State: B+

Win and it’s in for Boise State. Lose and the Broncos will be outside of the playoff field. Boise State has a healthy lead over the Big 12 for one of the top four spots.

11. Alabama: C-

All Alabama can do is hope and pray the favorites win in conference title week so it can’t be bumped out of the playoff field. However, the Crimson Tide don’t have the makeup of a playoff team.

12. Miami: D

Miami deserved to fall after losing to Syracuse. But to fall six spots down against a team now ranked and behind Alabama with virtually no chance to move up? The Hurricanes got a bit screwed.

13. Mississippi: A-

Mississippi won’t be sniffing the playoff thanks to the damaging losses it suffered against unranked teams. The Rebels shouldn’t be near the field.

14. South Carolina: C-

South Carolina did lose to Mississippi, but the resume is far more impressive than what the Rebels have done. The Gamecocks deserve somewhat of a chance into the playoff, and now that isn’t going to happen.

15. Arizona State: F

By being five spots behind Boise State, Arizona State has an extremely hard path toward getting a first-round bye even if it wins the Big 12, which isn’t right for a team playing as good as the Sun Devils.

16. Iowa State: C-

Right behind Arizona State, Iowa State has the same argument as the Sun Devils in it doesn’t have much of a shot toward not being the No. 12 seed in the bracket if it wins.

17. Clemson: B

The ranking doesn’t really matter since Clemson is playing a ‘win and in’ contest in the ACC championship game.

18. Brigham Young: A-

It’s a shame to see how far BYU fell after it was undefeated a few weeks ago. The Cougars do have a case to be ranked higher than Clemson given the quality of victories.

19. Missouri: C-

Missouri’s best win was against Vanderbilt. Doesn’t really mean the Tigers should be in the top 20.

20. UNLV: A-

Tulane’s loss really benefitted UNLV toward being a spoiler in the bracket. Beat Boise State and UNLV is in the playoff and ready to cause havoc.

21. Illinois: B-

Illinois didn’t really impress much this season, but ending the season on a three-game win streak is enough for it to be ranked.

22. Syracuse: A

After shocking Miami with an incredible comeback, Syracuse makes a triumphant debut into the rankings to cap off a great victory.

23. Colorado: A-

Colorado doesn’t have a chance to get into the College Football Playoff, but the Buffaloes had a strong season that deserves a ranking.

24. Army: C-

With the only loss coming against a red-hot Notre Dame, Army has to hate that it doesn’t have a path toward the playoff even if it wins the American Athletic then beats Navy.

25. Memphis: B+

What better way to reward Memphis than by ranking the team that ended the American Athletic’s small chance of stealing a playoff bid?

This post appeared first on USA TODAY

3 Mins Read

‘Aaron Rodgers: Enigma’ trailer drops, shows QB meeting RFK Jr., more

The New York Jets won’t be playing much meaningful football in December, but quarterback Aaron Rodgers still figures to be the talk of the league ahead of Christmas.

It isn’t just because of the 41-year-old’s uncertain future with the Jets. Netflix is also releasing an anticipated documentary highlighting Rodgers’ recovery from a season-ending Achilles injury just four snaps into the 2023 NFL season.

The documentary – titled ‘Aaron Rodgers: Enigma’ – will also give viewers an idea of what Rodgers’ life is like away from football. The first glimpse of this was shown Tuesday as Netflix released the trailer for the documentary.

Netflix’s teaser hinted that NFL fans would be treated to an inside look at Rodgers’ rehab of his injured Achilles, but it included plenty of other intriguing snippets. Among them: the quarterback discussing his spirituality, his relationships with friends and family and a meeting with former U.S. presidential candidate Robert F. Kennedy Jr., who president-elect Donald Trump nominated to be the country’s secretary of health and human services,

Here’s what to know about the ‘Enigma’ trailer and when you can catch it on Netflix.

NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more.

Aaron Rodgers documentary trailer full video

The trailer for ‘Aaron Rodgers: Enigma’ first aired during Rodgers’ appearance on ‘The Pat McAfee Show’ on Tuesday. Netflix later released the two-minute official trailer on its YouTube page.

Below is a full look at the documentary preview:

One of the most notable moments from the trailer came when Rodgers discussed his personal life. The soundbite didn’t reveal exactly what the veteran quarterback was discussing, but it implied that something caused him to lose several key relationships in his life.

‘Losing friendships, family … it was heartbreaking,’ Rodgers says in the trailer.

Rodgers’ father Ed revealed in a 2017 interview with The New York Times that his son hadn’t spoken to his family since 2014. Rodgers hasn’t spoken much about the rift with his family, but perhaps he will during the documentary.

Also of note was a conversation between Rodgers and Kennedy during which the 70-year-old asked Rodgers if he had ever considered going into politics. Rodgers’ name was bandied about as a potential vice presidential nominee for Kennedy, so his response to that question – which was omitted from the trailer – will capture the attention of viewers.

The trailer also efforted to thematically illustrate that Rodgers is an ‘enigma,’ as its title suggests. As such, words used by both fans and critics to describe the 41-year-old were interspersed within the spot.

Among the positive words used to describe Rodgers were, ‘Loyal, athlete, champion, friend, mentor, and legend;’ the negative ones read, ‘Selfish, fake, defiant, controversial, divisive, stubborn, and difficult.’

Release date, how to watch ‘Aaron Rodgers: Enigma’ documentary

Release date: Tuesday, Dec. 17
Available on: Netflix

NFL fans and viewers won’t have to wait long to see the Aaron Rodgers documentary. It is scheduled to drop on Netflix on Tuesday, Dec. 17. That is exactly two weeks after Netflix dropped the official trailer.

This post appeared first on USA TODAY

3 Mins Read

Texans GM blasts NFL after Azeez Al-Shaair suspension

Nick Caserio told us how he really felt, and it was far from happy.

The Houston Texans executive vice president and general manager spoke on Tuesday ahead of the team’s bye week in the aftermath of the NFL’s decision to suspend Azeez Al-Shaair for his hit on Trevor Lawrence in Week 13. Caserio was clearly irritated at the league’s decision and didn’t bite his tongue this time.

He chose a different route when speaking on the Mario Edwards Jr. suspension in October, who was knocked out four games for violating the league’s substance abuse policy.

‘I could make a comment about it but probably discretion is a better part of valor on that one,’ Caserio said, taking the diplomatic approach.

That was not the case on Tuesday as a visibly angry Caserio brought a passionate defense of Al-Shaair, who has been dragged through the mud ever since he was ejected Sunday.

All things Texans: Latest Houston Texans news, schedule, roster, stats, injury updates and more.

Nick Caserio on Azeez Al-Shaair suspension

After saying that the most important thing is the health and well-being of Lawrence, Caserio shifted his tone to defend Al-Shaair. He said the picture being painted of the linebacker is unfair, before calling out the league for its lack of consistency as it relates to discipline.

‘Let’s look at this season. We have multiple situations, multiple examples,’ Caserio said. ‘(Brian) Branch ejected against Green Bay, plays the next week against us. Derwin (James) ejected, got suspended for one game.’

He added that former Texans safety, Kareem Jackson, was ejected multiple times before earning a suspension.

Caserio took issue with how the league portrayed Al-Shaair’s character in their announcement, saying that no one embodies their program more than him.

‘For the league to make some of the commentary that they made about lack of sportsmanship, lack of coachability, lack of paying attention to the rules,’ Caserio said. ‘Quite frankly, it’s embarrassing.’ Caseri proceeded to add that Al-Shaair has never been ejected or suspended.

‘The picture that’s been painted about Azeez, his intentions, who he is as a person – quite frankly, it’s (expletive),’ Caserio said. ‘It’s unfair to the individual. It’s unfair to the organization.’

In the announcement from the league, Jon Runyan, NFL vice president of football operations, wrote in part:

‘Your lack of sportsmanship and respect for the game of football and all those who play, coach, and enjoy watching it, is troubling and does not reflect the core values of the NFL… Your continued disregard for NFL playing rules puts the health and safety of both you and your opponents in jeopardy and will not be tolerated.’

Caserio pointed out that the Jaguars’ Josh Hines-Allen said following the game that he wasn’t sure if the hit warranted a suspension. The GM added that he believes the many opinions and outrage probably factored into the end result.

Al-Shaair issued an apology on social media Monday morning.

How many games is Azeez Al-Shaair suspended?

Al-Shaair was suspended for three games by the NFL for his hit on Lawrence. According to ESPN’s Adam Schefter, he plans on appealing the decision.

Has Azeez Al-Shaair ever been suspended?

Despite being penalized for multiple personal fouls throughout his career, many of which resulted in fines from the league, this is the first time Al-Shaair has been given a suspension by the NFL.

When is Azeez Al-Shaair eligible to return from suspension?

Al-Shaair will be eligible to return in Week 18, unless the appeals process shortens the initial three game suspension.

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