Archives for June 2020

June 2020 - Page 8 of 13 - Money Morning - Only the News You Can Profit From

The Best CBD Penny Stock to Buy on New FDA Study

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Great news for the CBD industry this week is even better news for penny stock investors.

The FDA is making progress on CBD research.

And we know one of the best CBD penny stocks to buy as it happens.

Because they trade for under $5, penny stocks can make huge leaps on small changes.

It could be a new drug getting approved by the FDA.

Or it could simply be a broader market bounce.

Today, it's both.

Our top CBD penny stock is going to thrive on FDA approval.

But it's also going to profit from a spike in the CBD industry over the next few years.

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The Oil Sector Is Getting Ahead of Itself - Here's How to Profit

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It feels like 10 years ago, but it's really only been about seven weeks since that fateful April 20, when a COVID-19-driven collapse in demand pummeled West Texas Intermediate crude oil futures. Prices hit the floor, fell through it, and landed in negative territory at -$37.63 a barrel.

In those seven weeks, WTI has rocketed almost 200%. The S&P Oil & Gas Exploration and Production Select Industry Index has risen nearly 70%, though it's still down more than 24% for the year.

Over the past few days, though, oil benchmarks have been creeping 2% and 3% lower, which in my experience is a big, neon sign saying "Selling Ahead." And several marquee energy stocks like Occidental Petroleum Corp. and Halliburton Co. are also flashing sell-off warnings.

This reminds me of the old Road Runner and Wile E. Coyote Looney Tunes cartoons – remember them? One of the (many) cheesy running gags had Wile chasing Road Runner only to overshoot him at a cliff. Wile would hang there in midair for a second, have a "Maalox moment," and then drop.

That's not all that different than what's happening in crude right now. Both the commodity and most of its associated stocks entered what market technicians like me call "overbought" territory. Now they're dropping like rocks. Investors are starting to figure out if they're in over their heads.

How do I know? The answer is worth exploring because it can make you a sharper trader. There's one simple, small number you can look at in any stock chart that can tell you instantly how to play it.

I'll get into that briefly and then I'll tell you how to play the oil patch's precarious "Wile E. Coyote" situation… Full Story

I'll get into that briefly and then I'll tell you how to play the oil patch's precarious "Wile E. Coyote" situation... Full Story

Markets Live Recap: Stocks Close Down Despite Powell's Statement

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The S&P 500 and Dow Jones were both down in early market trading as investors continued yesterday's sell-off.

Then, Jerome Powell said the U.S. Federal Reserve intends to keep interest rates near zero through 2022.

And he expects GDP to expand by 5% in 2021.

Stocks rallied across the board on the back on the announcement by the Fed Reserve Chairmen.

But only the Nasdaq closes the day in positive territory – up 1.2% and closing at a record high.

The S&P 500 was flat and the down was down 0.6%.

Here's what our experts – Chris Johnson and Shah Gilani – saw live at the open and close of the trading day.

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Should I Buy Norwegian Cruise Line Stock?

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The coronavirus crash sunk the Dow Jones as much as 35% back in March.

Travel stocks were some of the first to go.

Cruises especially.

Royal Caribbean Cruises Ltd. (NYSE: RCL) went from $134 to just $22, an 83% loss.

But these cruise line stocks just got a big catalyst that's sent them soaring back.

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is even up 100% since lows.

But is Norwegian Cruise line a buy right now?

Here's what you should know about that.

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Dow Jones Now Sinking as Markets Prepare for the Fed's Next Plan

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The Dow Jones now is pointed down ahead of today's Federal Reserve meeting.

Stay with me for more on what they're planning…

Shares of Apple Inc. (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) pushed the Nasdaq over 10,000 on Wednesday as the frenzy continues.

Where's the tech sector going?

More on this below.

Here's everything moving the Dow today.

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