Precious Metals Sector Given Green Light And Low Risk Entry

• Have the problems exposed by the financial crisis of 2008 been addressed and dealt with to any extent? - no they have not, they have been papered over by creating more debt and printing money, thus making the underlying problems much worse.
• Has debt shrunk since 2008? - no, it has exploded.
• Has the money supply contracted since 2008? - no, it has expanded massively.
• Has the derivatives pyramid been reduced in magnitude since 2008? - no it has continued to compound.
• Has the global economy grown sufficiently in the years since 2008 to more than cover the extra load imposed by the growth in the factors listed above? No, it has not, all it is has done is limp along, lamed by debt.

Logically, one would expect massive expansion or growth in the factors listed above to be bullish for gold and silver, which should hold their value in real terms, and many PM sector investors banking on such logic have as we know been ruined, so why have gold and silver dropped for 4 years now? (more)

AEterna Zentaris Inc. (NASDAQ:AEZS)

AEterna Zentaris Inc. (NASDAQ:AEZS) stock closed above the trigger point on the hourly chart with expanding volume and is registering a strong Bullish signal. Let’s see whether the stock can gather enough momentum to break through Wednesday’s high. If the Bulls are able to push through 11.68, there will be another rally towards $13. Note: On Wednesday, the company reaffirmed that its business and prospects remain fundamentally strong and that the ddilution from Series B Share Purchase Warrants has been substantially eliminated, something that sounds very good for shareholders. Keep the stock under the radar.

Clovis Oncology Inc (NASDAQ:CLVS)

Clovis Oncology Inc (NASDAQ:CLVS) is starting to heat up and I expect to see it trading above $32 or better very soon. This bottom play has started to bounce nicely off its bottom and the momentum indicators are giving a clear picture of a short-term upward bias. I would not be surprised if it hit $35 at some point next week.

Bad Saudi PR fuels riyal devaluation talk

Speculation that Saudi Arabia could devalue its currency may owe more to a poor public relations effort by Saudi authorities than to the economic pressures on the kingdom.

Riyadh has the tools available to protect itself as low oil prices push the current account and budget balances of the world's top crude exporter deep into deficit, senior bankers in Saudi Arabia and the Gulf said.

In private conversations with Reuters this week, the bankers - many of whom are in contact with Saudi authorities - said Riyadh may detail a strategy to cope with an era of cheap oil as soon as next month, when the finance ministry presents the 2016 budget plan. The prospect of a riyal devaluation remains far-fetched, they said.  (more)

Straight Path Communications Inc (NYSEMKT: STRP)

Straight Path Communications Inc (NYSEMKT:STRP) is showing signs of bottoming out on the charts along with the MACD giving positive signals. The stock has just broke a potential falling wedge pattern which is usually bullish. A move past 10.44 could see a bounce till 12.50

Sunedison Inc (NYSE: SUNE)

Sunedison Inc (NYSE:SUNE) Strong bounce on heavy volume. The stock opened today`s session at $3.40 and intra-day was ranging at 3.14-4.25 ending the session with a strong gain of 37%. This could be the start of a nice rebound. The current rally should at least push the stock to 5.17 per share where the next resistance is. Stay tuned.

Macy's $M Has 130% Upside, Says Analyst

Market analyst Jeremy Skrezyna believes Macy’s, Inc. M could unlock tremendous value via corporate restructuring.

Skrezyna predicts Macy’s will soon follow the blueprint of Hudson’s Bay Company.

He values Macy’s real estate alone at $26 billion.

In a new article from SumZero, analyst Jeremy Skrezyna discussed why he sees 130 percent upside to Macy’s share price. According to Skrezyna, the key to Macy’s value is its real estate.

Realistic Precedent

It has become quite trendy in recent years for analysts to make hypothetical suggestions for how companies could unlock real estate value via corporate restructuring. However, Skrezyna believes that a solution for Macy’s is not simply a hypothetical. He is suggesting that Macy’s follow in the footsteps of Hudson’s Bay Company (HBC), which recently used mortgages and JVs to unlock real estate value.

The Plan

In his article, Skrezyna spelled out how each step of the HBC model would work for Macy’s.
“I believe Macy’s will take the approach that has already worked for HBC: (i) get an appraisal on the Herald Square flagship coupled with a 35 percent LTV mortgage, using the cash proceeds to repay higher coupon debt and (ii) create a JV with an operator like SPG, contribute and leaseback a portion of fee-owned real estate in exchange for ownership of the JV, publicly float the JV, incur mortgage debt at the contributed properties just prior to contribution to generate cash proceeds, with the JV assuming the debt upon property contribution, and use the debt proceeds to repay existing debt and repurchase shares.”

Valuation

Skrezyna believes Macy’s real estate is worth $26 billion alone. Since the company’s enterprise value is $24 billion, Macy’s retail operations are currently valued at -$2 billion.
Skrezyna predicts Macy’s management will eventually determine that this type of restructuring is too good of an opportunity to pass up. He forecasts that Macy’s will be fully valued at $90/share sometime within the next one to two years.