Archive for Opinions – Page 24

24 Jul

Mining Stock ETFs & Miners

Source: Stewart Thomson (7/23/25)

Newsletter writer Stewart Thomson addresses the question: Should investors own mining stock ETFs and some exciting individual miners?

As governments around the world race to implement fresh stagflationary tariff taxes, more spending, and debt, central banks and sovereign wealth funds are moving away from fiat currencies and government bonds.

They are moving into gold.

Here’s a look at the daily chart:

A symmetrical triangle pattern breakout appears imminent, and the target of this pattern is about $3800.

Silver tends to lag gold when deflation is in play and lead it when the big theme is inflation. In recent months, silver has taken the lead baton from gold, and I’ve suggested it could continue to lead until the year 2026 or even 2027.

Here’s a look at the chart:

Silver is making a beeline to the $44 zone, and even some mainstream money managers are taking notice.

In this environment, gold and silver stocks have begun to surge, but they are still so undervalued that senior miners could rise hundreds of percent before they hit “fair value.”

Junior miners could rise thousands of percent, and in some cases tens of thousands of percent. The current state of undervaluation of miners versus metal is truly surreal.

Here’s a look at the weekly GDXJ ETF chart:

There are numerous bull flags on the chart, and a fresh upside breakout is occurring from one of those flags now.

Silver stocks? They look even better!

Here’s a look at the SILJ chart:

Note the gargantuan volume that has accompanied the inverse H&S pattern breakout. It’s almost surreal!

I’ve talked about a “seasonal inversion,” where instead of swooning from July to October, the miners stage a mighty surge higher.

Well, that surge appears to be getting underway now, and the biggest price action of all appears to be occurring in junior miners that are in the CDNX

Here’s a look at the weekly CDNX chart:

A short-term pullback would be a “gift” for investors, but it may not occur.

Charts that are as bullish as this one tend to feature only very short pullbacks that don’t last long.

There are several individual miners that look very good this week. One of them is Big Ridge Gold Corp. (BRAU:TSXV; ALVLF:OTCQB).

They are reinvigorating a past producing property in Newfoundland.

What’s interesting is that gold was stuck in a rough $300-$500 range during the previous operation.

So, a lot of additional gold could be there . . .  gold that wasn’t worth mining at the time.

Here’s the Big Ridge chart:

I have a $2 target price for this stock, and if it’s hit, the CDNX may only be in the 1000 area at that point, which is the neckline zone of its massive H&S base pattern.

The bottom junior mining stocks line: What looks like a high price or “overbought” situation needs to be taken in the context of a very large 40-year inflation cycle that is only in year 5 of the cycle. Arguably, the junior miners offer the greatest value in the modern history of markets, and the word that best sums it all up could be: Enjoy!

Special Offer for Streetwise Readers: Please send me an Email to [email protected] and I’ll send you my free “Copper, Gold, & Rare Earths Too!” report. I highlight key junior resource stocks that are trading under $1/share and ready to soar! Key buy and sell tactics are included in this report. I write my junior resource stocks newsletter 2-3 times a week, and at just $199/12mths it’s an investor favorite. I’m doing a special pricing this week of $169 for 14mths.  Click this link or send me an email if you want the offer and I’ll get you onboard. Thank-you.

 

Important Disclosures:

  1. Stewart Thomson: I, or members of my immediate household or family, own securities of: None. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
  2. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found  below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  3.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

Stewart Thomson Disclosures

Stewart Thomson is no longer an investment advisor. The information provided by Stewart and Graceland Updates is for general information purposes only. Before taking any action on any investment, it is imperative that you consult with multiple properly licensed, experienced and qualified investment advisors and get numerous opinions before taking any action. Your minimum risk on any investment in the world is: 100% loss of all your money. You may be taking or preparing to take leveraged positions in investments and not know it, exposing yourself to unlimited risks. This is highly concerning if you are an investor in any derivatives products. There is an approx $700 trillion OTC Derivatives Iceberg with a tiny portion written off officially. The bottom line:

Are You Prepared?

Metals Opinions
23 Jul

FXTM’s JP225 soars on US-Japan trade deal

By ForexTime 

  • FXTM’s JP225 ↑ over 4% on trade deal, hits 12 month high
  • US to impose 15% tariffs on Japanese imports, lower than threatened 25%
  • Yen gains capped by political risk, despite trade ‘massive’ deal.
  • Japan PM Ishiba denies reports of stepping down
  • New FXTM JPC crosses tumble as JP225 surges

Japanese shares surged on Wednesday after President Donald Trump announced a ‘massive’ trade deal with Japan after eight rounds of negotiations!

FXTM’s JP225 which tracks the underlying Nikkei 225 index jumped more than 4% – hitting its highest level since July 2024. 

jp225 - 33

More gains could be on the cards given how this removes uncertainty around trade and boosts sentiment toward the Japanese economy.

 

What are the details on the ‘massive’ deal?

  • US to impose 15% tariffs on all Japanese imports, including automobiles – lower than threatened 25% rate set to take effect August 1st.
  • Japan to also create US$550 billion fund for US-bound investments.
  • Japan to buy 100 Boeing aircrafts, increase rice purchases by 75%, buy US$8 billion of agricultural products.
  • Japan to spend US$17 billion per year on American defense firms – up from $ 8 billion annually.
  • Japan to be guaranteed lowest US tariffs on semiconductors and pharmaceuticals.

 

How did the Japanese Yen react?

The USDJPY dipped to its lowest level since July 11th on the positive trade news, as it raised the odds of a potential BoJ hike in 2025. 

USDJPY 56

However, gains were surrendered following reports that Japanese Prime Minister Shigeru Ishiba intended to step down next month. Ishiba later denied these reports, which offered some support to the Yen.

Traders are currently pricing an 80% probability of a BoJ rate hike by the end of 2025. 

Watch out for political risk…

Last Sunday, Japan’s ruling coalition failed to gain a majority in the upper house elections as widely expected. It is worth noting that nine months ago, the coalition lost a majority in the more powerful lower chamber of parliament.

This will be the first time that the governing LDP has lost a majority in both chambers since its inception in 1955. 

Such a development may pressure Prime Minister Shigeru Ishiba to step down, resulting in fresh political uncertainty.

 

By the way… FXTM has launched 4 new JPC crosses!

And they are buzzing with activity following Trump’s ‘massive’ trade deal. 

The rally on the JP225 (Nikkei 225) has dragged these JPC crosses lower today: 

  • CHCJPC (CN50 vs JP225): ↓3.8%
  • DJCJPC (US30 vs JP225): ↓4.2%
  • NACJPC (NAS100 vs JP225): ↓3.7%
  • SPCJPC (US500 vs JP225): ↓3.7%

JPC crosses could experience steeper declines if the JP225 continues to surge on trade optimism. 

However, political risk down the road may limit the downside and spark a potential rebound.

Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Opinions Stock Market News
21 Jul

India’s Economic Surge: A New Era of Trade and Growth

Source: Streetwise Reports (7/18/25)

Could the next major powerhouse in world trading be India? Experts talk about the Asian country and its similarities to China before its economy exploded.

The federal debt relative to the U.S. economy has reached heights unseen since World War II, according to a report by Wendy Edelberg, Ben Harris, and Louise Sheiner for Brookings in February.

Without adjustments to tax and spending policies, it is expected to rise continuously. The existing tax structure is insufficient to meet the escalating costs associated with retirement and health benefits for an aging demographic, according to the report. To date, the U.S. has managed to borrow trillions annually. However, analysts caution that the mounting national debt is bound to precipitate a financial crisis.

In an interview with Lisa Abramowicz at the Bloomberg Global Credit Forum in Los Angeles that was posted June 11 on YouTube, DoubleLine Group Chief Executive Officer Jeffrey Gundlach said one of the “most-bankable” long-term themes to look at is investing in India, now the world’s most populous country with 1.46 billion people in 2025. As much as 40% of that population is under 25, giving the country a young demographic profile, as well.

“Because India has a similar profile today to where China was 35 years ago, when they had tremendous population, labor force, visibility of labor force growth, tremendous problems, a gummed-up legal system, (and) corruption all over the place,” Gundlach said. “But those are things that can be fixed. And you see, China went from 1/12th of the U. S. GDP to 70-80% of U. S. GDP.”

He continued, “India has the same demographic outlook as China did then,” and has the benefit of being “very technological.”

A Trade Agreement Enhancing Exports?

A substantial trade agreement between New Delhi and Washington could significantly enhance India’s exports and manufacturing sector, leading to prolonged economic growth, as per Bloomberg Economics, reported Ruchi Bhatia for Bloomberg on July 5.

Such a deal could potentially double India’s exports of goods to the U.S. — its largest international market, which constitutes 19.3% of its total exports — over the next decade, and boost its gross domestic product by 0.6%, according to a report by economists Abhishek Gupta and Eleonora Mavroeidi, Bhatia reported.

Including services, total exports to the U.S. are projected to increase by 64%, the report added.

The majority of these export gains are expected to come from textiles and light manufacturing goods, such as furniture, toys, and other consumer products. The economists noted that the trade agreement would represent a significant turning point for India’s domestic manufacturing sector.

Nikita Yadav reported for the BBC on July 17 that “Washington and Delhi are ‘very close’ to finalizing a trade deal” as high-level talks between the sides continue.

“We’re very close to a deal with India where they open it [the market] up,” Trump told reporters at the White House on Wednesday, Yadav reported.

With the Trump administration imposing substantial tariffs on China and Vietnam, a trade deal that sets tariffs at 10% for India could position the country as an attractive option for businesses looking to relocate or diversify their supply chains, the economists explained.

Should the trade deal not materialize and India faces higher reciprocal tariffs of 26%, the country could lose more than a third of its direct exports to the U.S., and its GDP could suffer a 0.7% decline, according to the report.

India was one of the first countries to start trade negotiations with the U.S. this year, with Prime Minister Narendra Modi making significant concessions to satisfy the White House. However, in recent weeks, both parties have adopted firmer positions on sectors such as agriculture.

India Starting to Look Safer, Researcher Says

According to Investing.com, Indian stocks closed higher on July 16, with gains in the Real Estate, Technology, and Public Sector Undertakings sectors driving the shares upward. At the close on the NSE, the Nifty 50 was up by 0.06%, while the BSE Sensex 30 index increased by 0.08%.

India’s stock market is poised to reach new heights by the end of 2025 and is expected to continue its ascent into the following year, according to a Reuters survey of equity analysts. Despite some concerns about high valuations and the potential for a correction in the next three months, the outlook remains optimistic. After a period of selling, foreign investors became net purchasers in April for the first time in four months. Meanwhile, the blue-chip Nifty 50 index has surged nearly 15% from a 10-month low in early April, although it remains below its all-time peak of 26,277.35 reached in late September, Vivek Mishra reported for Reuters.

The BSE Sensex is projected to rise to 86,100 by the end of 2025, reaching 89,000 by mid-2026 and 95,000 by the end of 2026, according to the poll.

“India is starting to look like a safer bet since there aren’t many growth alternatives,” Yogesh Kalinge, associate director of research at A.K. Capital Services, told Reuters. “Trump’s policy is not leading to the usual outflows toward the U.S. safe haven and is in fact making emerging markets look better . . .  (But) if you look at valuations, they do look stretched.”

With an average price-to-earnings ratio of 23.52, the Indian stock market is among the most expensive globally, trailing only the U.S. at 25.41 and significantly above China’s 12.00. Of the analysts who responded to an additional question, 15 out of 28 indicated that a correction — typically defined as a decline of 10% or more — was very likely or likely. The remaining 13 viewed it as unlikely or very unlikely.

“I expect a correction in the short term . . .  because of the inability of large caps to grow as expected. Large-cap index revenue growth is below India’s nominal economic growth, which is worrisome,” stated Sreeram Ramdas, vice president at Green Portfolio PMS.

A substantial majority, 23 out of 29 analysts, anticipate that corporate earnings growth in 2025 will be marginally higher, with four predicting significantly higher growth, the Reuters piece reported. Six analysts expect earnings to be marginally or significantly lower.

Profit growth for Nifty 50 companies remained subdued in the December quarter, with most companies missing estimates. However, this was an improvement after three notably weaker quarters.

“Earnings growth moderated due to a slower recovery in private sector investment. While some of these pressures have started to ease, the recovery has been insufficient to offset the overall slowdown in corporate performance,” explained Ajit Mishra, senior vice president of research at Religare Broking.

Seeking Alpha ranked Indian stocks according to its “quantamental” analysis, which grades stocks based on collective value, growth, profitability, earnings per share revisions, and price momentum metrics.

The site said William Blair & Co. analysts attribute India’s superior performance to robust economic fundamentals, advantageous demographics, and an expanding middle class. In their Emerging Markets 2025 report, the analysts noted, “The current valuation premium…should prompt investors to adopt a cautious, quality-focused approach in the present climate.”

They further added, “As India progresses along its growth path, it has the capacity to mirror China’s swift economic rise that began in the early 1990s, though potentially with a more balanced and sustainable approach to growth.”

Here are three stocks listed by the site as offering exposure to markets in this this emerging trade powerhouse.

MakeMyTrip Ltd.

MakeMyTrip Ltd. (MMYT:NASDAQ), based in Gurugram, scored 3.18 out of 5 on Sthat scale. It manages prominent online travel brands such as MakeMyTrip, Goibibo, and redBus. Through the company’s main websites, www.makemytrip.com, www.goibibo.com, www.redbus.in, and mobile applications, travelers can explore, plan, and book a broad array of travel services and products both within India and internationally, the company said on its site.

Streetwise Ownership Overview*

MakeMyTrip Ltd. (MMYT:NASDAQ)

Institutions: 75%
Strategic Corporate Entities: 15%
Retail: 7%
Insiders and Management: 3%
75%
15%
7%
3%
*Share Structure as of 7/16/2025
Source: Refinitiv

 

Offerings include air ticketing, bookings for hotels and alternative accommodations, vacation planning and packages, bus and rail ticketing, car rentals, and other travel necessities like third-party travel insurance, foreign exchange services, and visa processing.

MakeMyTrip said it offers customers comprehensive access to all major domestic full-service and budget airlines in India, as well as major international airlines flying to and from India. Additionally, the company said it provides a vast selection of domestic lodging options in India and numerous accommodation choices abroad, connections to Indian Railways, and all principal bus operators in India.

According to Seeking Alpha, in the last 90 days, seven Wall Street analysts have rated the stock a Strong Buy and three have rated it a Buy.

MakeMyTrip closed the Tuesday trading session at US$93.01, marking a +2.25% increase from the previous day’s close, according to a report by Zacks Equity Research published by Yahoo! Finance. This performance outpaced the S&P 500, which saw a decline of 0.4% on the same day. Conversely, the Dow fell by 0.98%, while the tech-heavy Nasdaq saw a modest rise of 0.18%.

Over the past month, shares of the online travel company have declined by 9.83%, underperforming the Computer and Technology sector, which gained 6.34%, and the S&P 500, which rose by 4.97%.

Investors are keenly anticipating MakeMyTrip’s performance in its forthcoming earnings announcement, the Zacks report noted. The company is scheduled to release its earnings report on July 22, 2025. It is expected to post earnings per share (EPS) of US$0.45, reflecting a 15.38% increase from the same quarter last year. Additionally, the latest consensus estimate projects the company’s revenue to hit US$277.12 million, up 8.88% from the same quarter of the previous year.

MakeMyTrip recently launched a significant primary offering that included 14 million shares, with an additional 2.1 million shares available through a greenshoe option; and a 0% convertible senior note valued at US$1.25 billion due in 2030, with a greenshoe option of US$187.5 million, Manik Taneja of Axis Capital wrote in an updated research note on June 17. The analyst set a rating of ADD with a target price of US$120 per share.

This move aims to purchase a substantial portion of Class B shares from its majority shareholder, Trip.com, reducing their stake from approximately 45% to around 20% following the transaction. Our preliminary estimates (see Exhibit 1 below) indicate that the earnings impact should be minimal, as the change in the number of shares is relatively slight compared to our forecasts. The recent market correction presents an opportunity to invest in a consistent performer, especially considering the positive demand trends in the Indian Travel tech sector.

According to a July 14 research note by Ambit Institutional Equities Analyst Ashwin Mehta, some keys to look for from the company include “growth outlook, especially recovery in domestic air ticketing, outbound air and hotel momentum, and any impact of macro uncertainties (that) led pullback on travel spends.

Mehta rated the stock a Buy with a US$117 per share target price.

Refinitiv notes that about 3% of the company is owned by insiders, about 15% by strategic corporate entities, and 75% by institutions. The rest is retail.

Top shareholders include Trip.com Group Ltd. with 11.99%, GIC Private Ltd. with 7.64%, Baillie Gifford & Co. with 5.74%, Fidelity Management & Research Co. with 4.35%, and Travogue Electronic Travel Private Ltd. with 2.62%.

Its market cap is US$8.85 billion 95.15 million shares outstanding. It trades in a 52-week range of US$76.95 and $123.

Infosys Ltd.

Infosys Ltd. (INFY:NYSE), headquartered in Bengaluru, provides next-generation digital services and consulting. With a workforce of over 320,000, the company said it strives to enhance human potential and forge new opportunities for individuals, businesses, and communities worldwide.

Streetwise Ownership Overview*

Infosys Ltd. (INFY:NYSE)

Retail: 86%
Institutions: 14%
86%
14%
*Share Structure as of 7/16/2025
Source: Refinitiv

 

Infosys, which scored 3.09 on Seeking Alpha’s scale, said it assists clients across more than 59 countries on their journey through digital transformation, powered by cloud and artificial intelligence (AI) technologies.

On Wednesday, the company unveiled the Infosys Enterprise Innovation Lab for SAP Solutions at its Düsseldorf, Germany location. This initiative, emerging from a collaboration between Infosys and SAP, is crafted to empower enterprises to delve into the expansive potential of AI and data, develop bespoke solutions for their unique business challenges, and expedite the adoption of advanced Infosys and SAP technologies.

The lab is designed to facilitate the creation of solutions that boost financial performance, enhance operational efficiency, improve risk management, and support decision-making through real-time data insights, while also elevating compliance and security standards. Innovations developed in the Düsseldorf lab will be accessible globally through Infosys’ network of over 12 Living Labs.

“Enterprises looking to adopt new SAP solutions will find that the Infosys Enterprise Innovation Lab for SAP Solutions significantly smoothens their transformation journey,” said Infosys Executive Vice President and Chief Delivery Officer Dines Rao. “Located in our Düsseldorf office, this collaborative space is designed to develop customized solutions. Leveraging Infosys Topaz and Infosys Cobalt, we aim to enable businesses to fully utilize cloud, data, and AI technologies, achieving substantial business benefits such as improved efficiency, better decision-making, cost reductions, and preparedness for the future.”

A June 11 research note by Daniel Alvarez and Scott White for Yaru Investments titled “India’s Artificial Intelligence Supercycle” noted that Infosys was one of India’s “IT leaders.”

Infosys is renowned for its comprehensive approach to integrating enterprise AI. The Topaz platform consolidates generative AI, machine learning, and automation into industry-specific modules applicable to sectors like banking, manufacturing, and healthcare. Through significant partnerships with major platforms such as Microsoft Azure and AWS, Infosys collaborates to create customized LLM-based solutions for its global clientele.

“Infosys stands out for its end-to-end approach to enterprise AI integration,” the analysts noted. “Its Topaz platform brings together generative AI, machine learning, and automation into deployable modules tailored for industries such as banking, manufacturing, and healthcare. With major partnerships (including with Microsoft Azure and AWS), Infosys co-develops customized LLM-based solutions for global clients.”

The company’s commitment to reskilling its workforce, particularly in areas like prompt engineering and AI ethics, establishes Infosys as a preferred partner for organizations looking to implement GenAI on a large scale, they wrote. Crucially, Infosys has successfully transitioned AI from experimental phases to a source of revenue generation, with discussions with clients increasingly focused on the productivity improvements and cost efficiencies driven by AI.

According to Refinitiv, about 14% of the company is owned by institutions, and the rest is retail.

Top shareholders include First Trust Advisors LP with 0.97%, Robeco Institutional Asset Management with 0.66%, Acadian Asset Management LLC with 0.64%, State Street Global Advisors (US) with 0.41%, and Goldman Sachs Asset Management LP with 0.4%

Its market cap is US$77.52 billion with 4.14 billion shares outstanding. It trades in a 52-week range of US$15.82 and US$23.63.

ICICI Bank Ltd.

ICICI Bank Ltd. (IBN:NYSE) scored the highest on Seeking Alpha’s rankings with 4.86 out of 5 points. The company continues to stand out as a structural compounder, boasting an industry-leading return profile and consistently outperforming its major peers in terms of growth, according to a research note by Axis Capital’s Jayant Kharote on June 18.

Streetwise Ownership Overview*

ICICI Bank Ltd. (IBN:NYSE)

Retail: 80%
Institutions: 19%
Strategic Corporate Entities: 1%
80%
19%
*Share Structure as of 7/17/2025
Source: Refinitiv

 

Its robust foothold in the mortgage and unsecured segments, along with an expanding SME/BB franchise, is expected to propel credit growth recovery to around 15%, the analyst noted. While the impact on Net Interest Margin (NIM) might be slightly more pronounced compared to its peers, a recovery is anticipated by Q4FY26/Q1FY27E.

The bank’s dominant retail franchise provides an additional lever for fee growth, helping to mitigate near-term pressures on earnings per share (EPS). Over the medium term, ICICI Bank is poised to maintain its leadership in growth and return ratios among the large private banks.

However, its rich valuation suggests limited upside potential, leading the firm to maintain its ADD rating on the stock.

Should there be a delay in systemic recovery, ICICI Bank is better positioned compared to its peers, offering a more secure investment option in the context of a credit growth revival, Kharote wrote.

“ICICI Bank continues to exhibit best-in-class asset quality metrics,” the analyst wrote.

On April 19, the company released a performance review for the quarter ending March 31.

It noted that profit before tax, excluding treasury activities, increased by 13.2% year-on-year to 16,534 crore (US$1.9 billion), and core operating profit rose by 13.7% year-on-year to 17,425 crore (US$2.0 billion). Profit after tax saw an 18% year-on-year increase to 12,630 crore (US$1.5 billion) in that quarter.

For the fiscal year ending March 31, profit before tax, excluding treasury, grew by 11.4% year-on-year to 60,713 crore (US$7.1 billion), and core operating profit for FY2025 increased by 12.5% year-on-year to 65,396 crore (US$7.6 billion), ICICI said in a release.

“The Board has recommended a dividend of 11 rupees per share for FY2025,” the company said. “The declaration and payment of dividend is subject to requisite approvals.”

Refinitiv noted that less than 1% of the company is owned by strategic corporate entities and about 19% by institutions. The rest is retail.

Top shareholders include GQG Partners LLC with 2.17%, WCM Investment Management with 1.5%, Morgan Stanley Investment Management with 0.99%, Temasek Holdings Pte. Ltd. with 0.76%, and Capital International Investors with 0.56%.

Its market cap is US$117.85 billion with 3.6 billion shares outstanding. It trades in a 52-week range of US$27.26 and US$34.50.

 

Important Disclosures:

  1. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
  2. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

Economics & Fundamentals Opinions
19 Jul

Euro Bets hit 83-week high, US Dollar Index Speculator Bets gain for 3rd Week

By InvestMacro

Speculators OI FX Futures COT ChartHere are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday July 15th and shows a quick view of how large market participants (for-profit speculators and commercial traders) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the euro will decline versus the dollar.

Weekly Speculator Changes led by EuroFX & US Dollar Index

Speculators Nets FX Futures COT Chart
The COT currency market speculator bets were decisively lower this week as two out of the eleven currency markets we cover had higher positioning while the other nine markets had lower speculator contracts.

Leading the gains for the currency markets was the EuroFX (7,625 contracts) with the US Dollar Index (321 contracts) also showing a positive week.

The currencies seeing declines in speculator bets on the week were the Brazilian Real (-24,798 contracts), the Japanese Yen (-12,573 contracts), the Mexican Peso (-4,956 contracts), the British Pound (-4,003 contracts), the Canadian Dollar (-2,486 contracts), the New Zealand Dollar (-1,286 contracts), the Australian Dollar (-605 contracts), the Swiss Franc (-441 contracts) and with Bitcoin (-50 contracts) also seeing lower bets on the week.

Euro Bets hit 83-week high, US Dollar Index Speculator Bets gain for 3rd Week

Highlighting the week for the currency markets this week was the Euro bets rising higher as well as a modest US Dollar Index comeback over the past three weeks.

The biggest mover with gains in speculative bets was the Euro which advanced for a second straight week and has now risen for eight out of the past ten weeks (for a 10-week improvement by +52,502 contracts). These gains have pushed the net speculator standing (currently at +128,221 contracts) to the highest level in 83-weeks, dating back to December 2023.

The US Dollar Index was the only other gainer in speculative bets on the week and the USD positions have risen for three straight weeks. Despite these gains, the US Dollar Index standing still remains in a small bearish position currently at -3,665 net contracts.

Elsewhere, the Brazilian Real saw a big drop in speculative positions by almost -25,000 contracts. The Brazilian Real positioning has been up and down over the last 10 weeks with big gains and big retreats. Currently, the Brazilian Real still has a positive net speculative position of almost +25,000 contracts.

The Japanese Yen saw another fall in speculator bets this week, with its overall net position standing at +103,582 contracts. This is down from the all-time high that was reached in April near +180,000 contracts. The Yen position has been clearly softening but still remains historically bullish with contracts over +100,000.

FX Price Changes this week

Overall, the Forex markets were pretty subdued in price changes for the week. The US Dollar Index was the only riser on the week and edged higher for a second week, up by approximately 0.70%. The Australian Dollar was the biggest decliner with a fall by over -1% on the week while the Japanese Yen was close to a -1% decline followed by the New Zealand Dollar, which fell by almost -0.75%.

The US Dollar Index has made some gains over the last two weeks but prices stalled out around 98.60 on the upside this week and settled back down to end the week at 98.20. The U.S. Dollar Index is still down by over 10% since the beginning of the year and remains under that 100.00 psychological price level.

The Japanese Yen’s price uptrend has stalled and the currency has now fallen for three straight weeks (vs the USD). Meanwhile, the other currencies like the Euro, British Pound Sterling, Swiss Franc, Canadian Dollar, New Zealand Dollar, Brazilian Real, Mexican Peso and the Australian Dollar all saw slight declines on the week but still trade close to their highest levels of the year.

Currencies Data:

Speculators FX Futures COT Data Table
Legend: Open Interest | Speculators Current Net Position | Weekly Specs Change | Specs Strength Score compared to last 3-Years (0-100 range)

Strength Scores led by Japanese Yen & EuroFX

Speculators Strength Scores FX Futures COT Chart
COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that the Japanese Yen (79 percent) and the EuroFX (78 percent) lead the currency markets this week. The New Zealand Dollar (69 percent), Brazilian Real (64 percent) and the Swiss Franc (55 percent) come in as the next highest in the weekly strength scores.

On the downside, Bitcoin (0 percent) and the US Dollar Index (5 percent) come in at the lowest strength levels currently and are in Extreme-Bearish territory (below 20 percent). The next lowest strength scores are the Australian Dollar (23 percent) and the British Pound (46 percent).

3-Year Strength Statistics:
US Dollar Index (5.1 percent) vs US Dollar Index previous week (4.4 percent)
EuroFX (77.6 percent) vs EuroFX previous week (74.7 percent)
British Pound Sterling (46.3 percent) vs British Pound Sterling previous week (48.2 percent)
Japanese Yen (79.2 percent) vs Japanese Yen previous week (82.6 percent)
Swiss Franc (55.0 percent) vs Swiss Franc previous week (55.9 percent)
Canadian Dollar (54.8 percent) vs Canadian Dollar previous week (55.9 percent)
Australian Dollar (23.1 percent) vs Australian Dollar previous week (23.6 percent)
New Zealand Dollar (68.7 percent) vs New Zealand Dollar previous week (70.2 percent)
Mexican Peso (54.3 percent) vs Mexican Peso previous week (56.8 percent)
Brazilian Real (64.2 percent) vs Brazilian Real previous week (84.3 percent)
Bitcoin (0.0 percent) vs Bitcoin previous week (1.1 percent)

New Zealand Dollar & EuroFX top the 6-Week Strength Trends

Speculators Trends FX Futures COT Chart
COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that the New Zealand Dollar (32 percent) and the EuroFX (17 percent) lead the past six weeks trends for the currencies. The Canadian Dollar (15 percent) and the Swiss Franc (7 percent) are the next highest positive movers in the 3-Year trends data.

The Japanese Yen (-13 percent) leads the downside trend scores currently with the US Dollar Index (-9 percent), Australian Dollar (-8 percent) and the Mexican Peso (-7 percent) following next with lower trend scores.

3-Year Strength Trends:
US Dollar Index (-9.2 percent) vs US Dollar Index previous week (-8.4 percent)
EuroFX (17.3 percent) vs EuroFX previous week (15.7 percent)
British Pound Sterling (-2.9 percent) vs British Pound Sterling previous week (-1.0 percent)
Japanese Yen (-13.1 percent) vs Japanese Yen previous week (-13.2 percent)
Swiss Franc (6.9 percent) vs Swiss Franc previous week (6.7 percent)
Canadian Dollar (15.4 percent) vs Canadian Dollar previous week (14.5 percent)
Australian Dollar (-8.3 percent) vs Australian Dollar previous week (-9.3 percent)
New Zealand Dollar (31.6 percent) vs New Zealand Dollar previous week (33.9 percent)
Mexican Peso (-7.3 percent) vs Mexican Peso previous week (-3.2 percent)
Brazilian Real (-5.4 percent) vs Brazilian Real previous week (1.7 percent)
Bitcoin (-3.7 percent) vs Bitcoin previous week (-3.4 percent)

Individual COT Forex Markets:

US Dollar Index Futures:

US Dollar Index Forex Futures COT ChartThe US Dollar Index large speculator standing this week totaled a net position of -3,665 contracts in the data reported through Tuesday. This was a weekly increase of 321 contracts from the previous week which had a total of -3,986 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 5.1 percent. The commercials are Bullish-Extreme with a score of 95.4 percent and the small traders (not shown in chart) are Bearish with a score of 20.1 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend.

US DOLLAR INDEX StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:46.237.58.7
– Percent of Open Interest Shorts:56.624.910.9
– Net Position:-3,6654,422-757
– Gross Longs:16,26213,1863,065
– Gross Shorts:19,9278,7643,822
– Long to Short Ratio:0.8 to 11.5 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):5.195.420.1
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-9.26.911.3

 

Euro Currency Futures:

Euro Currency Futures COT ChartThe Euro Currency large speculator standing this week totaled a net position of 128,221 contracts in the data reported through Tuesday. This was a weekly rise of 7,625 contracts from the previous week which had a total of 120,596 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 77.6 percent. The commercials are Bearish-Extreme with a score of 18.4 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 92.7 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend.

EURO Currency StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:29.555.011.9
– Percent of Open Interest Shorts:13.977.55.1
– Net Position:128,221-184,21555,994
– Gross Longs:242,096451,52597,608
– Gross Shorts:113,875635,74041,614
– Long to Short Ratio:2.1 to 10.7 to 12.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):77.618.492.7
– Strength Index Reading (3 Year Range):BullishBearish-ExtremeBullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:17.3-15.71.0

 

British Pound Sterling Futures:

British Pound Sterling Futures COT ChartThe British Pound Sterling large speculator standing this week totaled a net position of 29,191 contracts in the data reported through Tuesday. This was a weekly fall of -4,003 contracts from the previous week which had a total of 33,194 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 46.3 percent. The commercials are Bearish with a score of 48.3 percent and the small traders (not shown in chart) are Bullish with a score of 79.6 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend.

BRITISH POUND StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:53.926.718.4
– Percent of Open Interest Shorts:38.346.714.0
– Net Position:29,191-37,4818,290
– Gross Longs:100,98049,93234,471
– Gross Shorts:71,78987,41326,181
– Long to Short Ratio:1.4 to 10.6 to 11.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):46.348.379.6
– Strength Index Reading (3 Year Range):BearishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-2.94.8-11.5

 

Japanese Yen Futures:

Japanese Yen Forex Futures COT ChartThe Japanese Yen large speculator standing this week totaled a net position of 103,582 contracts in the data reported through Tuesday. This was a weekly fall of -12,573 contracts from the previous week which had a total of 116,155 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 79.2 percent. The commercials are Bearish with a score of 23.0 percent and the small traders (not shown in chart) are Bullish with a score of 61.1 percent.

Price Trend-Following Model: Weak Uptrend

Our weekly trend-following model classifies the current market price position as: Weak Uptrend.

JAPANESE YEN StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:51.533.813.5
– Percent of Open Interest Shorts:19.368.311.2
– Net Position:103,582-110,8467,264
– Gross Longs:165,444108,74443,283
– Gross Shorts:61,862219,59036,019
– Long to Short Ratio:2.7 to 10.5 to 11.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):79.223.061.1
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-13.116.3-38.6

 

Swiss Franc Futures:

Swiss Franc Forex Futures COT ChartThe Swiss Franc large speculator standing this week totaled a net position of -22,637 contracts in the data reported through Tuesday. This was a weekly decrease of -441 contracts from the previous week which had a total of -22,196 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 55.0 percent. The commercials are Bearish with a score of 37.0 percent and the small traders (not shown in chart) are Bullish with a score of 77.2 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend.

SWISS FRANC StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:13.466.719.8
– Percent of Open Interest Shorts:43.935.720.3
– Net Position:-22,63723,016-379
– Gross Longs:9,95949,55914,677
– Gross Shorts:32,59626,54315,056
– Long to Short Ratio:0.3 to 11.9 to 11.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):55.037.077.2
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:6.9-4.7-2.4

 

Canadian Dollar Futures:

The Canadian Dollar large speculator standing this week totaled a net position of -74,094 contracts in the data reported through Tuesday. This was a weekly reduction of -2,486 contracts from the previous week which had a total of -71,608 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 54.8 percent. The commercials are Bearish with a score of 44.5 percent and the small traders (not shown in chart) are Bearish with a score of 47.8 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend.

CANADIAN DOLLAR StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:10.869.613.7
– Percent of Open Interest Shorts:47.433.713.1
– Net Position:-74,09472,7661,328
– Gross Longs:21,924141,09327,836
– Gross Shorts:96,01868,32726,508
– Long to Short Ratio:0.2 to 12.1 to 11.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):54.844.547.8
– Strength Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:15.4-16.010.0

 

Australian Dollar Futures:

Australian Dollar Forex Futures COT ChartThe Australian Dollar large speculator standing this week totaled a net position of -74,919 contracts in the data reported through Tuesday. This was a weekly lowering of -605 contracts from the previous week which had a total of -74,314 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 23.1 percent. The commercials are Bullish with a score of 73.2 percent and the small traders (not shown in chart) are Bullish with a score of 55.4 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend.

AUSTRALIAN DOLLAR StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:14.164.516.0
– Percent of Open Interest Shorts:63.916.314.4
– Net Position:-74,91972,5282,391
– Gross Longs:21,23397,06324,040
– Gross Shorts:96,15224,53521,649
– Long to Short Ratio:0.2 to 14.0 to 11.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):23.173.255.4
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-8.36.81.1

 

New Zealand Dollar Futures:

New Zealand Dollar Forex Futures COT ChartThe New Zealand Dollar large speculator standing this week totaled a net position of 3,635 contracts in the data reported through Tuesday. This was a weekly fall of -1,286 contracts from the previous week which had a total of 4,921 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 68.7 percent. The commercials are Bearish with a score of 29.6 percent and the small traders (not shown in chart) are Bullish with a score of 58.1 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend.

NEW ZEALAND DOLLAR StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:39.638.210.6
– Percent of Open Interest Shorts:31.047.89.7
– Net Position:3,635-4,003368
– Gross Longs:16,62316,0414,429
– Gross Shorts:12,98820,0444,061
– Long to Short Ratio:1.3 to 10.8 to 11.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):68.729.658.1
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:31.6-31.03.8

 

Mexican Peso Futures:

Mexican Peso Futures COT ChartThe Mexican Peso large speculator standing this week totaled a net position of 50,122 contracts in the data reported through Tuesday. This was a weekly lowering of -4,956 contracts from the previous week which had a total of 55,078 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 54.3 percent. The commercials are Bearish with a score of 45.3 percent and the small traders (not shown in chart) are Bullish with a score of 56.3 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend.

MEXICAN PESO StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:55.738.65.3
– Percent of Open Interest Shorts:25.572.51.7
– Net Position:50,122-56,1736,051
– Gross Longs:92,33263,9818,820
– Gross Shorts:42,210120,1542,769
– Long to Short Ratio:2.2 to 10.5 to 13.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):54.345.356.3
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-7.35.519.7

 

Brazilian Real Futures:

Brazil Real Futures COT ChartThe Brazilian Real large speculator standing this week totaled a net position of 24,172 contracts in the data reported through Tuesday. This was a weekly lowering of -24,798 contracts from the previous week which had a total of 48,970 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 64.2 percent. The commercials are Bearish with a score of 34.1 percent and the small traders (not shown in chart) are Bearish with a score of 42.8 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend.

BRAZIL REAL StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:63.930.45.0
– Percent of Open Interest Shorts:38.559.90.9
– Net Position:24,172-28,0683,896
– Gross Longs:60,80928,9654,761
– Gross Shorts:36,63757,033865
– Long to Short Ratio:1.7 to 10.5 to 15.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):64.234.142.8
– Strength Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-5.44.74.3

 

Bitcoin Futures:

Bitcoin Crypto Futures COT ChartThe Bitcoin large speculator standing this week totaled a net position of -2,486 contracts in the data reported through Tuesday. This was a weekly lowering of -50 contracts from the previous week which had a total of -2,436 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 0.0 percent. The commercials are Bullish-Extreme with a score of 99.5 percent and the small traders (not shown in chart) are Bullish with a score of 66.3 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend.

BITCOIN StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:77.67.35.2
– Percent of Open Interest Shorts:85.51.13.4
– Net Position:-2,4861,927559
– Gross Longs:24,2822,2871,629
– Gross Shorts:26,7683601,070
– Long to Short Ratio:0.9 to 16.4 to 11.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):0.099.566.3
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-3.7-0.510.2

 

Article By InvestMacro – Receive our weekly COT Newsletter

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting). See CFTC criteria here.

COT Updates Forex and Currency News Opinions
19 Jul

Speculator Extremes: Nasdaq, Silver & Lean Hogs lead weekly Bullish Positions

By InvestMacro 

The latest update for the weekly Commitment of Traders (COT) report was released by the Commodity Futures Trading Commission (CFTC) on Friday for data ending on July 15th.

This weekly Extreme Positions report highlights the Most Bullish and Most Bearish Positions for the speculator category. Extreme positioning in these markets can foreshadow strong moves in the underlying market.

To signify an extreme position, we use the Strength Index (also known as the COT Index) of each instrument, a common method of measuring COT data. The Strength Index is simply a comparison of current trader positions against the range of positions over the previous 3 years. We use over 80 percent as extremely bullish and under 20 percent as extremely bearish. (Compare Strength Index scores across all markets in the data table or cot leaders table)

Extreme Bullish Speculator Table

Here Are This Week’s Most Bullish Speculator Positions:

Nasdaq

Extreme Bullish Leader

The Nasdaq speculator position comes in as the most bullish extreme standing this week with the Nasdaq-Mini speculator level now at a 93 percent score of its 3-year range.

The six-week trend for the percent strength score was a rise of 31 percentage points this week. The overall speculator position registered 34,892 net contracts this week with a weekly gain of 3,681 contracts in speculator bets.

Speculators or Non-Commercials Notes:

Speculators, classified as non-commercial traders by the CFTC, are made up of large commodity funds, hedge funds and other significant for-profit participants. The Specs are generally regarded as trend-followers in their behavior towards price action – net speculator bets and prices tend to go in the same directions. These traders often look to buy when prices are rising and sell when prices are falling. To illustrate this point, many times speculator contracts can be found at their most extremes (bullish or bearish) when prices are also close to their highest or lowest levels.

These extreme levels can be dangerous for the large speculators as the trade is most crowded, there is less trading ammunition still sitting on the sidelines to push the trend further and prices have moved a significant distance. When the trend becomes exhausted, some speculators take profits while others look to also exit positions when prices fail to continue in the same direction. This process usually plays out over many months to years and can ultimately create a reverse effect where prices start to fall and speculators start a process of selling when prices are falling.

Silver

Extreme Bullish Leader
The Silver speculator position comes up number two in the extreme standings this week. The Silver speculator level is at a 90 percent score of its 3-year range.

The six-week trend for the speculator strength score totaled a change of -2 points this week. The overall speculator position was 59,448 net contracts this week with a small increase by 927 contracts in the speculator bets.

Lean Hogs

Extreme Bullish Leader
The Lean Hogs speculator position comes in next this week in the extreme standings as the Lean Hogs speculator level resides at 90 percent score of its 3-year range.

The six-week trend for the speculator strength score came in at a rise of 12 percentage points this week. The overall speculator position was 82,803 net contracts this week with a change of -8,097 contracts in the weekly speculator bets.

MSCI EAFE MINI

Extreme Bullish Leader
The MSCI EAFE MINI speculator position shows up next in this week’s bullish extreme standings. The MSCI EAFE-Mini speculator level sits at a 88 percent score of its 3-year range. The six-week trend for the speculator strength score was a decline of -4 points this week.

The speculator position was -873 net contracts this week with a drop by -3,971 contracts in the weekly speculator bets.

Ultra U.S. Treasury Bonds


The Ultra U.S. Treasury Bonds speculator position rounds out the top scores in this week’s bullish extreme standings. The Ultra Long T-Bond speculator level sits at a 85 percent score of its 3-year range. The six-week trend for the speculator strength score showed no change this week.

The speculator position was -228,618 net contracts this week with a decline of -5,794 contracts in the weekly speculator bets.

Extreme Bearish Speculator Table

This Week’s Most Bearish Speculator Positions:

Bitcoin

Extreme Bearish Leader
The Bitcoin speculator position comes in as the most bearish extreme standing this week. The Bitcoin speculator level is at a 0 percent score of its 3-year range.

The six-week trend for the speculator strength score was a dip by -4 points this week. The overall speculator position was -2,486 net contracts this week with a dip of -50 contracts in the speculator bets. With the Bitcoin price hitting all-time highs, the weak speculator positioning indicates that speculators may be hedging contracts in the futures market to protect themselves from price declines.

5-Year Bond

Extreme Bearish Leader
The 5-Year Bond speculator position comes in next for the most bearish extreme standing on the week with the 5-Year speculator level is at just 1 percent score of its 3-year range.

The six-week trend for the speculator strength score was a decline by -5 points this week. The speculator position was -2,505,528 net contracts this week with a rise of 11,259 contracts in the weekly speculator bets.

Soybean Meal

Extreme Bearish Leader
The Soybean Meal speculator position comes in as third most bearish extreme standing of the week. The Soybean Meal speculator level resides at a 3 percent score of its 3-year range.

The six-week trend for the speculator strength score was a decrease by -10 percentage points this week. The overall speculator position was -79,742 net contracts this week with an increase by 5,859 contracts in the speculator bets.

Sugar

Extreme Bearish Leader
The Sugar speculator position comes in as this week’s fourth most bearish extreme standing. The Sugar speculator level is at a 4 percent score of its 3-year range.

The six-week trend for the speculator strength score was -14 percentage points this week. The speculator position was -52,099 net contracts this week with a boost of 8,352 contracts in the weekly speculator bets.

US Dollar Index

Extreme Bearish Leader
Next, the US Dollar Index speculator position comes in as the fifth most bearish extreme standing for this week. The USD Index speculator level is at a 5 percent score of its 3-year range.

The six-week trend for the speculator strength score was -9 percentage points this week. The speculator position was -3,665 net contracts this week with an edge higher by 321 contracts in the weekly speculator bets.

Ultra 10-Year


Finally, the Ultra 10-Year speculator position comes in as the next most bearish extreme standing for this week. The Ultra 10-Year speculator level is at just a 7 percent score of its 3-year range.

The six-week trend for the speculator strength score was a dip by -2 percentage points this week while the speculator position was -379,116 net contracts this week with a jump of 29,162 contracts in the weekly speculator bets.

Article By InvestMacro – Receive our weekly COT Reports by Email

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.

All information and opinions on this website and contained in this article are for general informational purposes only and do not constitute investment advice.

COT Updates Metals Opinions
18 Jul

Week Ahead: Alphabet & Tesla in focus as “MAG 7” earnings kick off

By ForexTime 

  • 2 of ‘Magnificent 7’ set to publish earnings on Wednesday 
  • Alphabet ↑ 4% month-to-date, 11% away from ATH
  • Tesla ↓ 21% year-to-date
  • Alphabet: Shares could move 5.3% ↑ or ↓ post earnings
  • Tesla: Shares could move 5.6% ↑ or ↓ post earnings

The week ahead is stacked with high-impact events and corporate earnings from the largest companies in the world:

Sunday, 20th July 

  • JP225: Japan upper house election

Monday, 21st July 

  • CN50: China loan prime rates
  • NZD: New Zealand CPI
  • UK100: UK Prime Minister Keir Starmer speech
  • USDInd: US Conference Board leading index

Tuesday, 22nd July

  • AUD: RBA meeting minutes
  • NZD: New Zealand trade
  • NGN: Nigeria rate decision
  • TWN: Taiwan export orders, jobless rate
  • US500: US Richmond Fed manufacturing index, Fed Chair Jerome Powell speech

Wednesday, 23rd July

  • EUR: Eurozone consumer confidence
  • TWN: Taiwan industrial production
  • USDInd: US existing home sales
  • NAS100: Alphabet, Tesla earnings
  • President Donald Trump speech on A.I.

Thursday, 24th July

  • CAD: Canada retail sales
  • EUR: ECB rate decision, Germany PMI & Consumer confidence
  • JPY: Japan S&P Global Manufacturing PMI
  • UK100: UK S&P Global Manufacturing PMI, Gfk Consumer Confidence
  • US500: Initial jobless claims, S&P Global Manufacturing PMI, Intel earnings

Friday, 25th July

  • GER40: Germany IFO business climate, Volkswagen earnings
  • UK100: UK retail sales
  • EUR: ECB survey of professional forecasters
  • JPY: Japan Tokyo CPI
  • SG20: Singapore industrial production

Earnings season is in full swing with US banks reporting strong results. Next up will be results from big tech companies, which may inject fresh volatility into US equity markets.

Two of the so-called ‘Magnificent 7’ tech titans will be under the spotlight.

 

1)  Alphabet

Alphabet, the parent company of Google reports its second-quarter earnings on Wednesday 23rd July after US markets close. 

Its shares gained 14% in Q2 amid strong AI product demand and growth in the cloud business. However, bulls may need a fresh catalyst to push Alphabet’s year-to-date gains out of the red. 

This could come in the form of strong earnings and robust advertising revenue growth.

Beyond earnings, updates on its cloud, ad business and AI innovations will be in focus. 

Markets are forecasting a 5.3% move, either up or down, for Alphabet stocks post earnings.

Alphabet

2) Tesla

Tesla is also set to release its second-quarter earnings on Wednesday after the close of US trading.

It’s been a rough year for the EV maker thanks to the political drama between Elon Musk and Donald Trump. Earlier this month, Trump threatened to withdraw government subsidies from Elon Musk’s companies – further weighing on Tesla shares.

Tesla is down over 20% year-to-date and could extend losses if its latest quarterly results are below market expectations.

Markets are forecasting a 5.6% move, either up or down, for Tesla stocks post-earnings.

Tesla

 

What does this mean for FXTM’s NAS100

  • FXTM’s NAS100 tracks the underlying benchmark Nasdaq 100 index.
  • Alphabet and Tesla are part of the top 10 constituents, making up just over 10% of its weight. 
  • The index is up 10% since the start of 2025, recently hitting a fresh all-time high above 23100.
  •  Key levels of interest can be found at 23500, 23000 & 22600.
NAS100
 

Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Opinions Stock Market News
17 Jul

TSMC hits record high ahead of earnings release

By ForexTime 

  • US-listed TSMC shares ↑ 20% YTD 
  • Shares hit new all-time highs on Tuesday
  • Forward guidance for Q3 in focus
  • TSMC makes up over 20% of FXTM’s TWN index
  • Technical levels for TSMC – $240, $225 and $218

US-listed shares of Taiwan Semiconductor Manufacturing (TSMC) surged to a fresh all-time high on Tuesday!

Note: TSMC shares can be traded on the Taiwan Stock Exchange (TWSE) and New York Stock Exchange (NYSE).

These gains have further solidified TSMC’s trillion-dollar valuation with sentiment firmly bullish after revenues rose a better-than-anticipated 39% in Q2.  Its shares are up 20% year-to-date, adding to the 90% gains secured in 2024.

Most importantly, the chipmaker is a key supplier to Nvidia, which has achieved a $4 trillion market valuation. This welcome development, along with a positive earnings report could push the company’s stock to fresh records. 

 

When will earnings be published?

  • TSMC will report second-quarter earnings on Thursday 17th before US markets open.

 

Market expectations

  • The chipmaker is expected to post earnings of $2.50 per share, with Q2 revenues rising to $31.70 billion from $20.82 billion in the prior year, marking a 52% increase.

 

What to watch out for

  • TSMC remains exposed to Trump’s tariff drama, with Taiwan hit with a steep tariff of 32% effective from August 1st.
  • Although Taiwan is said to be entering the final stages of a trade deal with the United States, the clock is ticking. The CEO of TSMC stated that tariffs had some impact on TSMC but not directly because tariffs are imposed on importers not exporters.
  • It will also be interesting to see if anything is mentioned about Nvidia winning approval from the Trump administration to sell its AI chips to China. 

 

What does this mean for FXTM’s TWN index.

  • FXTM’s TWN index tracks the underlying FTSE Taiwan RIC Capped Index. 
  • And TSMC makes up just over 20% of the index weight, meaning that the upcoming earnings could result in heightened volatility.
  • The index is up nearly 3% this month but still flat year-to-date. Prices have been trending higher in recent weeks with the all-time high roughly 7% away at 2049. 
  • Key levels of interest can be found at 1970, 1900 and 1830.
TWNn

How will TSMC shares react?

  • Markets are forecasting a 1.5% move, either up or down, for TSMC stocks on Thursday post earnings.

 

Technical picture

TSMC shares are firmly bullish on the daily charts with prices trading above the 50, 100 and 200-day SMA. However, the Relative Strength Index (RSI) is near 70 – signaling that prices may be overbought.

  • A decline below $225.00 may see prices test $218 and the 50-day SMA at $206.
  • Should $225 prove to be reliable support, this may open a path toward fresh all-time highs at $240 and beyond.
TSMmm

Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Opinions Stock Market News
14 Jul

Week Ahead: Looming “golden cross” teases US30 bulls

By ForexTime 

  • US30 ↑ roughly 5% year-to-date, less than 2% away from ATH
  • Trump tariff drama + US CPI + big bank earnings = volatility?
  • JPMorgan & Goldman Sachs = almost 14% of US30 weight 
  • US30 forecasted to move ↑ 0.8% or ↓ 1.4% post CPI 
  • Technical levels: 45000, 44200 & 44000

A flurry of high-risk events may pump FXTM’s US30 with fresh volatility next week.

Prices have been in a range since the start of July amid the ongoing uncertainty around Trump’s tariffs. Just yesterday, Trump threatened Canada with 35% tariffs and 15% to 20% blanket levies on most trade partners.

Note: FXTM’s US30 tracks the benchmark Dow Jones Industrial Average index.

Top-tier data, including the US inflation report and earnings from big US banks, could present new trading opportunities:

Monday, 14th July 

  • CN50: China trade
  • JP225: Japan machinery orders, industrial production
  • BITCOIN: Crypto week kicks off

Tuesday, 15th July 

  • CN50: China GDP, retail sales, industrial production
  • AUD: Australia Westpac consumer confidence
  • CAD: Canada CPI, housing starts
  • GER40: Germany ZEW survey expectations
  • GBP: BOE Governor Andrew Bailey speech
  • US30: US June CPI, Empire State Manufacturing, JPMorgan Chase earnings, Fed speech
  • US500: Wells Fargo, Citigroup earnings

Wednesday, 16th July

  • ZAR: South Africa retail sales
  • UK100: UK CPI
  • US30: US PPI, industrial production, Goldman Sachs earnings, Fed Beige book, Fed speech
  • US500: Bank of America, Morgan Stanley earnings

Thursday, 17th July 

  • AUD: Australia unemployment
  • EUR: Eurozone CPI, ECB blackout period
  • NZD: New Zealand food prices
  • GBP: UK jobless claims, unemployment
  • US30: US retail sales, initial jobless claims, Philadelphia Fed factory index, business inventories
  • TWN: TSMC earnings

Friday, 18th July  

  • JPY: Japan CPI
  • USDInd: US housing starts, University of Michigan consumer sentiment

FXTM’s US30 is up roughly 5% year-to-date, with prices trading less than 2% away from the all-time high at 45156.2.

US30 - W1

 

Here are 3 factors that may rock the US30:

 

1) US bank earnings

Second-quarter earnings season unofficially kicks off on Tuesday 15th July, led by banking giants JPMorgan, Citigroup and Wells Fargo. Goldman Sachs, Bank of America, and Morgan Stanley report their earnings the day after.

US banks are expected to report strong earnings amid relaxed capital requirements, an increase in trading revenues and high interest rates.

It is worth noting that financials make up almost 27% of the US30’s weight with JPMorgan and Goldman Sachs accounting for nearly 14%!

So, the upcoming earnings from US banks are a big deal for the index.

  • Markets are forecasting a 3.2% move, either Up or Down, for JPMorgan Chase stocks post-earnings
  • Markets are forecasting a 3.5% move, either Up or Down, for Goldman Sachs stocks post-earnings.

 

2) US June CPI report – Tuesday 15th July

The incoming US Consumer Price Index (CPI) may impact bets around Fed cuts in the second half of this year.

Markets are forecasting:

  • CPI year-on-year (July 2025 vs. July 2024) to rise 2.6% from 2.4% in the prior month.
  • Core CPI year-on-year to rise 2.9% from 2.8%.
  • CPI month-on-month (July 2025 vs June 2024) to rise 0.3% from 0.1%
  • Core CPI month-on-month to rise 0.3% from 0.1% in the prior month

Signs of rising inflation pressures may shave bets around the Fed cutting interest rates.

Note: Speeches from various Fed officials and key US data, including PPI, retail sales, and the Beige Book, may impact the US30 after the CPI report on Tuesday. 

US30 is forecast to move 0.8% up or 1.4% down in a 6-hour window after the US CPI report.

 

3) Technical forces

The US30 remains bullish on the daily charts with a potential “golden cross” pattern in the making.

This is A technical event, when an asset’s 50-day simple moving average (SMA) crosses above its 200-day SMA. Such a development is seen as a bullish sign that prices will rise further. 

Nevertheless, the Relative Strength Index (RSI) is trading near oversold territory. 

  • Should 44200/44000 prove reliable support regions, prices may rebound back toward 45000 and the all-time high at 45156.
  • Sustained weakness below 44000 may open a path back toward 43500.
US30 d1

Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Opinions Stock Market News
10 Jul

Does Gold Have Much Farther To Run?

Source: Clive Maund (7/10/25)

Technical Analyst Clive Maund shares his thoughts on where he believes gold is headed. 

Gold has made impressive gains so far this year, but when it spiked up to touch $3500 in the middle of April it become heavily overbought which is why it then went into a rectangular consolidation pattern that has given time for the overbought condition to fully unwind, as shown by the MACD indicator on its 6-month chart below, and has also allowed its moving averages to catch up, especially the 50-day which has now fully closed the gap with the price.

Because there is still a considerable gap with the 200-day it means that there is room for the price to break down from the Rectangle and correct back towards or to this average. In attempting to weigh the probability of this happening versus the price instead breaking out upside from the Rectangle, we need to inspect the volume pattern and volume indicators, which normally provide valuable clues in a situation like this.

However, volume and volume indicators are no longer provided by Stockcharts for the metals but we can get around this problem by using a chart for the same time period for reliable gold proxy SPDR Gold Shares, whose chart is almost identical, which does show volume and volume indicators.

So, on the 6-month chart for SPDR Gold Shares, we see that, while the volume pattern is a little hard to decipher, the Accumulation line has continued to trend higher from the April peak as the price has tracked sideways and has even made new highs in recent days.

This is bullish and implies that, rather than breaking lower into a correction, GLD and thus gold itself will instead break higher into a new upleg. If it does break lower a likely scenario is that a short, sharp drop is followed by a rapid reversal to the upside.

Zooming out now to look at gold on a longer-term 6-year log scale chart we see that it broke out early last year from a big trading range to commence a powerful uptrend — an uptrend that remains very much in force, with the price still well above the lower rail of the channel — even if it broke down from the Rectangle shown on the chart above and dropped to the $3100 level it would not violate this channel.

On this chart, we can better see just how overbought gold got last April, hence the trading range that has since formed that we looked at above.

Zooming out again via a very long-term log-scale chart going all the way back to the start of the millennium, i.e., to the year 2000, affords us an overall Big Picture perspective.

This chart makes clear that the breakout early last year from the large trading range that started to form in the middle of 2020 actually marked the breakout from the Handle of a gigantic Cup & Handle continuation pattern that started to form as far back as 2012.

This is a truly enormous consolidation pattern that certainly has the capability to support a correspondingly big bull market and as we are only about 16 months into this major new bull market, it clearly has much further to run.

In conclusion, we are looking for a breakout from the current rectangular trading range that has formed from April into another major upleg. If gold should instead break down from this range and correct back towards or to its rising 200-day moving average and the lower rail of its uptrend channel, it should then reverse back to the upside into a vigorous uptrend.

Volume indicators are suggesting that the former scenario — a breakout into another upleg from the trading range without any further corrective action first — is more likely to prevail.

 

Important Disclosures:

  1. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found  below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  2. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

Clivemaund.com Disclosures

The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks cannot be  only be construed as a recommendation or solicitation to buy and sell securities.

Metals Opinions
09 Jul

The Index Almost No One Is Watching . . . But Should Be

Source: John Newell (7/7/25) 

John Newell of John Newell & Associates explains why he thinks more people should be looking at the S&P/TSX Venture Composite Index (CDNX).

There’s an old market adage: “Stocks go down in an elevator and up in a staircase.”

That sums up the S&P/TSX Venture Composite Index (CDNX) over the last 15 years, except this time, it didn’t just go down in an elevator. It got trapped in the basement, and every breakout attempt was met with rejection.

Now, it’s not just climbing, it’s breaking out. And hardly anyone’s paying attention.

The CDNX, Canada’s benchmark for early-stage resource and technology companies, has emerged from one of the longest and most painful sideways-to-down periods in its history. For over a decade, it’s been ignored by the mainstream, starved of capital, and left for dead by speculators who moved on to crypto, cannabis, AI, or just gave up.

But that’s changed. The long-term technicals are flashing green. Capital is rotating back into exploration. And the macro story, anchored by gold, copper, and the metals that power the global shift to electrification, is stronger than it’s been in years.

The Setup: Same Way Down, Same Way Up?

Pull up the long-term CDNX chart and you’ll see a dramatic elevator drop from the 2011 highs.

What followed was a decade-long churn that wore out all but the most patient investors. But the pattern that’s forming now? It looks a lot like the mirror image of the move down.

Same way down, same way up?

On the weekly chart, price has broken above long-term moving averages and resistance levels.

Technical targets are activating at 775, 1025, 1325, and 1480. And the long-term Big picture target?

3550, the level where everything started to unravel more than a decade ago.

This isn’t guesswork. It’s price memory. And markets never forget.

Amazon had 20% Corrections Too

Worried about volatility? Looking for the perfect entry? Consider Amazon.com Inc. (AMZN:NASDAQ).

Since the early 2000s, Amazon has gone through more than 15 corrections of 20% or more. Some were over 50%. That’s the price of conviction. And most investors can’t pay it.

If you want generational wealth, you don’t sit in the stands waving pom-poms, you put the pads on and step onto the field.

We celebrate Amazon, Microsoft, and Home Depot as legendary compounders. But almost no one held them through all the turbulence.

Now compare that to junior mining.

You’re not holding for 20 years, waiting on a trillion-dollar valuation. You’re hunting for a discovery, a single drill hole, or deal, that re-rates a company’s valuation in weeks. These aren’t slow burns.

They’re liftoff points.

This Isn’t Just a Rebound. It’s a Rotation.

The CDNX is heavily weighted toward the materials sector, about 40–50%, with gold and silver explorers doing most of the lifting. Base metals like copper and uranium are gaining momentum as investors wake up to the structural shortfalls in global supply.

This index doesn’t move unless real capital is coming back into exploration. And it is.

With gold now holding above $3,300 and copper emerging from a massive base, this isn’t just a bounce, it’s a rotation back to real assets. And junior miners, most of which are still trading near historic lows, are still early in that rotation.

The Venture Exchange is where the rerates happen first.

The Opportunity in One Chart

The index tells us capital is starting to flow. But if you want a more visceral example, take a look at what just happened with ArcWest Exploration Inc. (AWX:TSX.V).

In December 2024, the company was trading at $0.06 with a market cap of ~$5.5 million.

Then, in early July, they announced a $4 million drill program funded by a major.

The stock surged to $0.25 in three days, a revaluation to $22.5 million.

No results, no new resource, no discovery, just a funded drill commitment.

That’s what this part of the market can do.

At the risk of cherry-picking, Arc West shows how fast capital can reprice a stock when sentiment flips. And we’re starting to see more examples like this appear, quietly, for those paying attention.

Final Word

You hear it all the time: “If I’d just held Amazon, I’d be rich.” Sure. But how many did?

Junior mining is different. You don’t need to hold for decades. You just need to spot when a forgotten corner of the market is waking up and be early.

The TSX Venture Index is waking up. Few are watching. But for those willing to take a contrarian position, with eyes wide open, this may be the most explosive setup in the market today.

Like all great trades, it rewards action, not comfort.

 

Important Disclosures:

  1. John Newell: I, or members of my immediate household or family, own securities of: None. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
  2. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found  below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  3.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it’s advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

Opinions Stock Market News
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