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Lior Cohen

 
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  • Low Inflation And Higher Growth Keep GLD Down
    Fri, Dec. 26 GLD 25 Comments

    Summary

    • The recent higher-than-expected GDP report may also suggest the rise in U.S. economy will steer investors away from gold and into other assets.
    • The recent PCE report showed a core inflation of only 1.4%.
    • The ongoing lower inflation is likely to keep dragging down the price of GLD.
  • Is Chesapeake Energy Making The Right Move?
    Thu, Dec. 25 CHK 3 Comments

    Summary

    • The company plans to repurchase $1 billion worth of its own shares.
    • Chesapeake Energy recently sold assets to Southwestern Energy for $4.975 billion.
    • It continues to cut down its natural gas operations, which will increase its oil operations from the total production mix.
  • Silver Wheaton: A Review Of The San Dimas Project
    Wed, Dec. 24 SLW 6 Comments

    Summary

    • Is Silver Wheaton's contract with Goldcorp and Primero Mining for San Dimas profitable?
    • San Dimas could increase output by the middle of 2016.
    • I review the NPV of this mine under different discount rates and silver prices.
  • What Could Bring USO Back Up?
    Mon, Dec. 22 USO 4 Comments

    Summary

    • The price of USO fell by 40% this year.
    • U.S. oil market has loosened in recent weeks.
    • Potential changes to supply and demand could bring back up USO prices.
  • Will SLV Reach A New Low?
    Mon, Dec. 22 SLV 16 Comments

    Summary

    • The changes in inflation expectations are keeping down SLV.
    • The progress of the U.S. economy also plays a role in the progress of SLV.
    • The FOMC provided a balanced statement that didn’t move SLV.
  • Is UNG About To Change Direction?
    Mon, Dec. 22 UNG 12 Comments

    Summary

    • The short term weather outlook is uncertain but suggests colder than normal weather, which could bring back up UNG.
    • The recent extraction from storage was below expectation and 5-year average.
    • The Contango in the future markets results in UNG underperforming natural gas.
  • The FOMC Kept GLD From Falling Further
    Thu, Dec. 18 GLD 41 Comments

    Summary

    • The FOMC's recent statement was a bit convoluted.
    • The price of GLD didn't follow the U.S. dollar.
    • The tone in the recent FOMC statement kept GLD from reaching a new low.
  • What To Expect From Goldcorp This Quarter
    Wed, Dec. 17 GG 19 Comments

    Summary

    • Goldcorp’s output will have to pick up to reach its annual goals.
    • The changes in its all-in sustaining costs could impact its profitability.
    • Falling gold prices will reduce its profit margins in the fourth quarter.
  • The Volatility In The UNG Continues
    Tue, Dec. 16 UNG 19 Comments

    Summary

    • The current outlook is for normal winter conditions this year, which could pull back up UNG in the coming months.
    • The storage is still projected to remain below normal in the coming months.
    • Lower than normal extraction from storage could keep UNG from recovering over the immediate term.
  • What Is Keeping Oil Prices Down?
    Tue, Dec. 16 USO, OIL, UCO 3 Comments

    Summary

    • Saudi Arabia continues to flex its muscles to keep up its market share.
    • The expected lower growth in demand is also driving down oil prices.
    • The recent OPEC report showed a drop in Libya’s oil output.
  • Is The iShares Silver Trust ETF About To Change Course?
    Mon, Dec. 15 SLV 16 Comments

    Summary

    • The upcoming FOMC meeting could bring back down SLV.
    • The demand for SLV has diminished despite the rally in the silver market.
    • The potential recovery of the U.S. dollar could also play a role in bringing down SLV.
  • Does Yamana Gold Plan To Sell Its Brazilian Non-Core Assets?
    Mon, Dec. 15 AUY Comment!

    Summary

    • Yamana Gold recently announced the formation of a new subsidiary, Brio Gold.
    • The new subsidiary will hold some of Yamana's Brazilian assets.
    • This is could be a move toward taking these assets off Yamana's balance sheet.
  • Can Freeport-McMoRan Turn It Around?
    Fri, Dec. 12 FCX 30 Comments

    Summary

    • Freeport-McMoRan hasn't done well in recent weeks.
    • Copper prices are expected to remain low, which doesn't bode well for the company.
    • China's slower growth in 2015 could also weigh on Freeport-McMoRan's earnings.
  • Is The Recent Recovery Of GLD Sustainable?
    Fri, Dec. 12 GLD 27 Comments

    Summary

    • The FOMC's policy could bring back down GLD.
    • Falling oil prices are also partly related to the changes of GLD.
    • The ECB's TLTRO could adversely impact the euro and consequently bullion prices.
  • 3 Points About Silver Wheaton's Performance This Quarter
    Wed, Dec. 10 SLW 5 Comments

    Summary

    • The company hasn't expanded its business in the past year.
    • It's unclear whether Silver Wheaton will reach its annual goals vis-à-vis its attributed production.
    • Silver prices that fall faster than gold prices could reduce Silver Wheaton's profitability compared to its peers.
  • UNG Keeps Falling - Don't Just Blame It On Oil
    Tue, Dec. 9 UNG 8 Comments

    Summary

    • The expectations for warmer than normal weather could bring down UNG.
    • Falling oil prices may have pressured UNG prices.
    • The storage is still expected to remain below normal in the coming months.
  • The Recovery Of iShares Silver Trust ETF Came To A Halt - What Is Next?
    Mon, Dec. 8 SLV 7 Comments

    Summary

    • The recent non-farm payroll report showed a higher than expected gain in number of jobs, which led to the fall in iShares Silver Trust prices.
    • The ongoing low long-term treasuries yields are keeping SLV from falling further down.
    • The upcoming TLTRO could also bring down the Euro, which may adversely impact the direction of SLV.
  • The Good And Bad Of Low Gold Prices For Franco-Nevada
    Mon, Dec. 8 FNV 1 Comment

    Summary

    • The low price of gold is weighing on Franco-Nevada's earnings.
    • The current low-price environment provides an opportunity for the company to expand its operations.
    • The latest fall in oil price is also likely to reduce its profitability.
  • Do GLD Investors Have A Reason To Be Optimistic?
    Thu, Dec. 4 GLD 21 Comments

    Summary

    • The recent economic reports from the U.S. were mostly positive, which doesn’t vote well for the long and mid term recovery of GLD.
    • GLD will keep following the progress of the U.S. economy.
    • GOFO rates turned negative; does this mean GLD is expected to bounce anytime soon?
  • The Oil Market Continues To Loosen
    Thu, Dec. 4 USO, OIL, UCO Comment!

    Summary

    • The current IEA outlook for 2015 is that oil supply will rise faster than the demand.
    • Following the recent OPEC summit oil prices fell to the mid 60’s.
    • Oil supply in the U.S. continues to grow faster than the demand.
  • 3 Factors Driving Down First Solar
    Thu, Dec. 4 FSLR 46 Comments

    Summary

    • The company’s revised its annual guidance and reduced its projected sales.
    • Lower profit margins are keeping down First Solar.
    • Falling oil prices may have also contributed to the weakness of solar companies in recent weeks.
  • SLV Is Recovering, But Will This Rally Last?
    Tue, Dec. 2 SLV 8 Comments

    Summary

    • The progress of the U.S. labor market could bring further down SLV.
    • The recent Swiss Referendum resulted, as expected, with a rejection of a proposal to boost the central bank’s bullion reserves.
    • The developments in the foreign exchange markets seem to have a weaker impact on SLV in recent weeks.
  • UNG Is Coming Down Despite High Extraction From Storage
    Mon, Dec. 1 UNG 27 Comments

    Summary

    • The latest extraction from storage was bigger than the 5-year average.
    • The short-term weather outlook is likely to keep UNG down.
    • The contango in the future markets keeps UNG underperforming natural gas.
  • GLD Continues To Lose Its Appeal
    Thu, Nov. 27 GLD 11 Comments

    Summary

    • GLD continues to underperform equities.
    • The rise in the gold to silver ratio has also reduced the yellow metal’s shine over silver.
    • The recent fall in U.S. long-term treasuries coincided with the modest bounce back of GLD.
  • Chesapeake Energy's NGL Bet
    Thu, Nov. 27 CHK 2 Comments

    Summary

    • Chesapeake continues to expand its NGL production.
    • This shift has improved the company’s profitability.
    • Lower realized prices are keeping the company from reaching even higher profit margins.
    • The current expectations for lower demand for NGL this winter could reduce its profitability in the coming quarters.
  • Cold Weather Keeps UNG Up - But For How Long?
    Mon, Nov. 24 UNG 6 Comments

    Summary

    • U.S. natural gas consumption rose again in the residential and commercial sectors.
    • The weather outlook for December suggests UNG could come down.
    • The expectations for warmer-than-normal weather could pressure down UNG.
  • The Fall And Rise Of SLV
    Mon, Nov. 24 SLV 2 Comments

    Summary

    • Will China’s rate cut bring back the demand for silver?
    • The progress of the U.S. economy could bring down the price of SLV.
    • The changes in U.S. PCE may impact the direction of SLV.
  • What Is Holding Back Silver Wheaton Compared To Its Peers?
    Mon, Nov. 24 SLW 11 Comments

    Summary

    • Silver Wheaton didn’t perform well in the stock market so far this year, while Royal Gold and Franco-Nevada have rallied.
    • The company’s reliance on silver has been a double edge sword for its performance.
    • Lack of growth in attributed production in the near term is also slowing down the company’s stock from recovering.
  • What Is Next For GLD?
    Fri, Nov. 21 GLD 17 Comments

    Summary

    • The minutes of the FOMC meeting didn’t surprise the markets.
    • GLD is still expected to follow the direction of U.S. dollar.
    • The demand for gold isn’t rising – what does it mean for GLD?
  • Is The Oil Market Loosening?
    Wed, Nov. 19 USO, OIL 2 Comments

    Summary

    • OPEC production slightly declined despite higher Libyan output.
    • Saudi Arabia’s oil production contracted in the past month.
    • Lower liquids fuels consumption in the U.S. is keeping down oil prices.
  • What Could Hold Back Valero Energy?
    Wed, Nov. 19 VLO 5 Comments

    Summary

    • Valero Energy showed higher-than-expected earnings in the third quarter.
    • Higher volumes contributed to the company’s gain in revenue.
    • Lower margins on sour and sweet oils could weigh in on the company’s profit margin.
  • Pan American Silver Didn't Meet Expectations In The Third Quarter
    Tue, Nov. 18 PAAS 5 Comments

    Summary

    • Pan American Silver’s LPS for the third quarter came short of market expectations.
    • The company’s drop in revenue was due to lower production and falling precious metals prices.
    • Pan American Silver recorded unfavorable NRV adjustment on inventories of $15.4 million.