February 3, 2021 | Daily JAM, FCX, Jubak Picks |
Back on January 26 copper miner Freeport McMoRan (FCX) dropped sharply–down 6.5%–when the company lowered guidance for production in 2021. For 2021 Freeport McMoRan expects sales of 3.8 billion pounds of copper and 1.3 million ounces of gold. In October the company guided analysts to production of 3.85 billion pounds of copper and 1.4 million ounces of gold. (Freeport-McMoRan did raised its 2022 target for copper sales to 4.3 billion pounds from 4.2 billion.) But the company did report fourth quarter earnings of 39 cents a share, matching Wall Street projections. In the fourth quarter of 2019, the company earned 2 cents a share. But…
February 2, 2021 | Daily JAM, Morning Briefing, Short Term |
As of 3:15 p.m. today, February 2, in New York, shares of GameStop (GME)were down 56.22% to $98.50. That a big drop from the January 27 closing high of $347.51, but it’s still significantly above the $17.25 price on January 4. Other stocks that have ridden the Reddit WallStreetBets fever for short squeeze horses are down today too. AMC (AMC) is off 39.70% to $8.02. First Majestic Silver (AG), the big silver play of the last few days, has given up 24.28% to $16.75. Bed Bath & Beyond (BBBY) is off 14.64% to $25.77. American Airlines (AAL), an early short squeeze play, slipped 1.16% to $17.65. The only potential short squeeze bet (if it was, that is) that’s still climbing is vaccine pill biotech Vaxart (VXRT), which was up 34.30% at 3:15 and looks to be riding momentum into the close. (The shares were up 54.43% as of 3:40 p.m.) Vaxart does bring this question to mind: So if the money is coming out of GameStop, etc., where is it going?
February 1, 2021 | Daily JAM, Jubak Picks, NKTR, Stock Alerts |
Nektar (NKTR) is another one of those stocks that looks to be moving up more strongly right now than the relatively sparse news would explain. Shares of this biotech are up 18.96% in the last week and 24.37% for the last 3 months. I can see a stream of positive news that should be leading the stock gradually higher, but nothing that is especially “current.”
February 1, 2021 | AG, Daily JAM, DNMR, Jubak Picks, Millennial, Morning Briefing, Short Term, VXRT, You Might Have Missed |
I looked at my Jubak Picks Portfolio with more than a tinge of seller’s remorse this morning. I sold shares of First Majestic Silver (AG) out of that portfolio on Friday, January 29, after the stock rose 21.38% on Thursday. That gave me a gain of 45.52% since I began this position on July 6, 2019.I argued in justification for this sell that the attempt by individual investors on Reddit’s WallStreetBets forum to force a short squeeze in silver, as they had in GameStop (GME), were likely to fail because there was such a big stockpile of physical silver ready to enter the market. So I took my profit. Only to have the stock climb an other 21.3% today, February 1, as of 2:30 p.m. New York time as individual investors did indeed drive up the price of silver futures. The Shares Silver Trust (SLV) was up 6.40% as of 2:30 New York time today as the intraday price of silver limbed to the highest level since 2013. And then I thought about that seller’s remorse.
January 28, 2021 | AG, Daily JAM, Jubak Picks |
Shares of First Majestic Silver (AG) climbed 21.38% yesterday, January 28, as silver futures climbed on a post on Reddit suggesting profit from a short squeeze on silver. “Any short squeeze in silver paper shorts would be EPIC,” a post on Reddit’s WallStreetBets forum said. “Why not squeeze SLV to real physical price,” the poster said referring to the iShares Silver Trust ETF (SLV). That ETF closed up 5.55% on Thursday. Now I understand the attraction of anything that can be touted as a potential for a short squeeze like that which has driven the shares of GameStop (GME) up 928% for 2021 as of the close on January 28, and 1538% in the last three months. But silver the commodity is actually very different from a stock and a short-squeeze looks very difficult to execute in silver.
January 25, 2021 | Daily JAM, EQNR, Millennial, NJDCY, TRYIY |
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January 20, 2021 | Daily JAM |
Gold futures on the COMEX for February delivery closed up 1.4% today, January 20, at $1866.50 an ounce. That’s the highest finished for the most active contract on the futures market since January 7. Silver for March delivery closed up 1.8% to $25.766 an ounce. All the talk about the need for a big stimulus program, bigger even than in response to the global financial crisis and the Great Recession, has sent some traders looking for inflation plays.
October 22, 2020 | Daily JAM, DHR, Jubak Picks, Stock Alerts |
Shares of Danaher (DHR) were up just 3.28% today. I say "just" because the company delivered a blow out earnings report today. Danaher reported adjusted earnings of $1.72 per share on $5.88 billion in sales for its third quarter. Analysts had expected earnings of...
October 20, 2020 | Daily JAM, PE, Stock Alerts |
A day after ConocoPhilips (COP) announced it would buy big Permian Basin oil shale play Concho Resources (CXO) for $9.7 billion, the Wall Street Journal reported that Pioneer Natural Resources, by some measures the biggest oil shale operator in the Permian Basin, is...
October 13, 2020 | Daily JAM, Jubak Picks, TWLO, Volatility |
This is something of a catch up post. On October 5 I added Twilio (TWLO) to my Jubak Picks and Volatility portfolios. I announced that buy in a post on October 2 and then again in my Special Report: "Your Investing Guide for the Next 6 Dangerous Stock Market Months" I...
September 16, 2020 | Daily JAM, ILMN, Jubak Picks, Top 50 Stocks |
Shares of Illumina (ILMN) dropped 8.44% today, September 16, on reports by both Reuters and Bloomberg that the genetic sequencing marketing leader is in talks to acquire Grail, a still private startup focused on blood tests for the early detection of cancer. I think...
August 31, 2020 | BRK/B, Daily JAM, Jubak Picks, Stock Alerts |
Warren Buffet's Berkshire Hathaway (BRK-B) hit the headlines today on news that it had made a big buy in shares of Japanese trading companies. To me that looks like a typical Buffett value play on commodities and international trade at a time when the market in...
