Celldex Therapeutics, Inc. (NASDAQ:CLDX), Ambarella Inc (NASDAQ:AMBA), Google Inc (NASDAQ:GOOGL)

Celldex Therapeutics, Inc. (NASDAQ:CLDX) which has been building momentum since late-October, broke out of its bullish consolidation on massive volume on news that its Rintega brain cancer vaccine reduced the risk of death from the disease by 47 percent in a 73 patient randomized study. Plus, the survival rate at 2 years was 25% for patients given the vaccine versus none in the control group, so I was motivated to buy more shares. This move broke the stock out of a triple top resistance zone that contained the upmove since August. From a technical standpoint daily technical indicators are looking bullish. The MACD is above its signal line and is moving up in positive territory. CMF is also positive and RSI has moved above its 60% level. On longer-term daily chart, the stock is trading below its 100-day and 200-day EMAs but well above its rising 50-day EMA. The short-term bull market is intact, despite being in a bear market in the medium-term. I think the stock next week can easily re-visit its 200-day EMA at $18.48, if not higher. Based on Friday's news, I expect upgrades coming soon.

 

Ambarella Inc (NASDAQ:AMBA) traded nicely on Friday and I’m looking for continuation of the upward direction next week. The stock is a short squeeze candidate, with a short float at 43% equivalent to 6 days of average volume. From a technical standpoint, the daily technical chart shows that the stock is in a rally as %K line is rising on top of %D line as the price is back above the short-term EMAs and with a positive MACD action. The RSI is also rising along with the rise in volumes indicates buying interest in the stock. At the same time, price broke out of downtrend line which goes back to the September top. Can get interesting. Keep close eye on this one for a major rally to the upside.
  

Google Inc (NASDAQ:GOOGL) has a bullish looking chart. Price broke out to a new all-time high Friday, accompanied by a good volume suggesting higher levels.The stock has been in a nice uptrend for the last two months and it looks very strong with both 50-day and 200-day exp moving averages going up while %K line is on top of %D line. Long setup.

5 Gold and Silver Stocks Starting to Shine: SLW, AG, GG, ABX, KGC

Precious metals and related mining stocks have been under a historic, soul-crushing selloff in recent weeks, as investors worry if the Federal Reserve — on rising odds of interest rate liftoff in December — is heading into a policy mistake with inflation still below target.

Inflation just isn’t a clear and present threat: Producer price inflation is cratering, dropping at a 1.6 percent annual rate as of October on a persistent drop in food prices.

On Monday, wholesale gasoline futures tested down to $1.20 a gallon — a level not seen since early 2009. Copper and crude oil are similarly weak. Other measures from China factory gate prices to U.S import prices all tell the same story.  (more)

Could Gold Bottom In The Next 3 Days?

On Friday as the markets were closing I received an email update from another widely followed newsletter writer who has been correctly, extremely negative on the entire commodity sector for a few years.

In his update, he states that his cycle work indicates that gold will bottom on November 24-25.

WOW, that is this coming Tuesday and Wednesday and precedes the Thanksgiving Holiday in the United States.  (more)

US Weekly Economic Calendar

time (et)	report	period	ACTUAL	forecast	previous
MONDAY, NOV. 23
10 am	Existing home sales	Oct.		5.44 mln	5.55 mln
TUESDAY,  NOV. 24
8:30 am	Advance trade in goods	Oct.		--	-$58.6 bln
8:30 am	GDP revision	3Q		2.1%	1.5%
9 am	Case-Shiller home prices	Sept.
10 am	Consumer confidence	Nov.		100.0	97.6
WEDNESDAY, NOV. 25
8:30 am	Weekly jobless claims	Nov. 21		N/A	N/A
8:30 am	Personal income	Oct.		0.4%	0.1%
8:30 am	Consumer spending	Oct.		0.2%	0.1%
8:30 am	Core inflation	Oct.		--	0.1%
8:30 am	Durable goods orders	Oct.		1.8%	-1.2%
9 am	FHFA home prices	Sept.
10 am	New home sales	Oct.		510,000	468,000
10 am	Consumer sentiment	Nov.		--	93.1
THURSDAY, NOV. 26
	Thanksgiving Day None scheduled
FRIDAY, NOV. 27
	None scheduled

Gold Stocks Buckle

There is absolutely nothing good that can be said about the mining stocks at this point. Then again, there has been little good to say about these things for a long, long time.

The month of October provided a bit of a glimmer of hope but the rally could not even make it to the 200 day moving average before failing. The secondary top near 140 lies between the 100 day and the 200 day moving averages and is now going to be a key technical level that will stand in the path of any recovery rally.
Downside momentum remains strong at this point with no evidence of any concerted buying. (more)

Is The Platinum Plunge Over?

Investment demand for this precious “white metal” has declined by 380,000 ounces from the fourth quarter of 2014.   That figure is probably already outdated with the most recent plunge in prices. Investors’ appetite for this “precious metal” has hit new lows on the misery index. In addition, platinum prices are trading at a six-year low and the platinum: gold ratio is at its lowest point in two years.
There are two main reasons behind the recent decline in platinum prices. One reason is weaker  industrial demand due to a stagnating global economy. The other reason is the recent downtrend in the price of gold which is pulling down the entire precious metals complex.

However, there are a couple of reasons why the price of platinum may be close to a bottom. For example, above ground platinum stocks are expected to fall by 17% on a year to year basis in 2015.  Also, there is a possibility of a short covering rally. This is because gross speculative short positions in platinum recently hit at an all-time high, suggesting negative sentiment towards platinum is overdone

 Only technical analysis will help spot the bottom……so let’s go directly to the charts.

Daily Platinum Futures

 

Quarterly Platinum Futures

 

The Baltic Dry Shipping Index Just Collapsed To An All-Time Record Low

I was absolutely stunned to learn that the Baltic Dry Shipping Index had plummeted to a new all-time record low of 504 at one point on Thursday.  I have written a number of articles lately about the dramatic slowdown in global trade, but I didn’t realize that things had gotten quite this bad already.  Not even during the darkest moments of the last financial crisis did the Baltic Dry Shipping Index drop this low.  Something doesn’t seem to be adding up, because the mainstream media keeps telling us that the global economy is doing just fine.  In fact, the Federal Reserve is so confident in our “economic recovery” that they are getting ready to raise interest rates.  Of course the truth is that there is no “economic recovery” on the horizon.  In fact, as I wrote about yesterday, there are signs all around us that are indicating that we are heading directly into another major economic crisis.  This staggering decline of the Baltic Dry Shipping Index is just another confirmation of what is directly ahead of us.
Overall, the Baltic Dry Index is down more than 60 percent over the past 12 months.  Global demand for shipping is absolutely collapsing, and yet very few “experts” seem alarmed by this.  If you are not familiar with the Baltic Dry Shipping Index, the following is a pretty good definition from Investopedia…(more)