asbe/iStock via Getty Images The CME Comex is the exchange where futures are traded for gold, silver, and other commodities. The CME also allows futures buyers to turn their contracts into physical metal through delivery. You can find more detail on the CME here (e.g., vault types, major/minor months, delivery explanation, historical data, etc.). The data below looks at contract delivery where the...
asbe/iStock via Getty Images The CME Comex is the exchange where futures are traded for gold, silver, and other commodities. The CME also allows futures buyers to turn their contracts into physical metal through delivery. You can find more detail on the CME here (e.g., vault types, major/minor months, delivery explanation, historical data, etc.). The data below looks at contract delivery where the ownership of physical metal changes hands within CME vaults. It also shows data that details the movement of metal in and out of CME vaults. It is very possible that if there is a run on the dollar, and a flight into gold, this is the data that will show early warning signs. Gold Despite the fall in gold prices this month, this March saw the highest deliveries for a minor month since last May. Last May was right near the tariff uncertainty, where there were massive spreads in the price, creating an arbitrage opportunity. This had gold traveling from London to New York and pushing up vault volumes. Deliveries have been strong ever since. The 14k contracts delivered would have also been considered quite strong when looking at any period prior to the arbitrage dislocation last year. Deliveries averaged closer to 5k prior to 2025. While the price did fall in March, some of which could be due to Turkey dumping a chunk of reserves , demand for physical metal remains quite robust. Figure 1: Recent like-month delivery volume Another interesting data point is the total notional delivered. The chart below shows the dollar amount of deliveries for gold specific to the month of March. While this March had delivery volumes almost 5k contracts lower than last March, from a dollar perspective it actually exceeded last March by a wide margin ($2.1B or 38%). Figure 2: Notional Deliveries Net new contracts (contracts that open and settle for immediate delivery) show another clue to the strength. Nearly 12k contracts were opened and delivered immediately. This made up 82% of total delivery v...
In February, more than 70 million people collected a Social Security benefit check, 54 million of whom are retired workers. For many of these retirees, Social Security income isn't a luxury -- it's nothing short of a necessity. According to 24 years of annual surveys from Gallup, 80% to 90% of retirees rely on their monthly benefit, in some capacity, to make ends meet. These polls demonstrate how ...
In February, more than 70 million people collected a Social Security benefit check, 54 million of whom are retired workers. For many of these retirees, Social Security income isn't a luxury -- it's nothing short of a necessity. According to 24 years of annual surveys from Gallup, 80% to 90% of retirees rely on their monthly benefit, in some capacity, to make ends meet. These polls demonstrate how imperative it is for lawmakers, including President Donald Trump, to strengthen Social Security's foundation for current and future beneficiaries. Unfortunately, Trump's flagship tax and spending law, the "big, beautiful bill," has dug an even deeper hole for America's foremost retirement program . Continue reading
A Kid Just 3D-Printed A $97 MANPAD Rocket Launcher A viral video circulating on X appears to show a young developer unveiling a 3D-printed proof-of-concept prototype of a shoulder-fired surface-to-air missile system, or MANPADS, built for less than $100. According to the project page on GitHub, the five-minute video showcases a "proof-of-concept prototype of a low-cost rocket launcher and guided r...
A Kid Just 3D-Printed A $97 MANPAD Rocket Launcher A viral video circulating on X appears to show a young developer unveiling a 3D-printed proof-of-concept prototype of a shoulder-fired surface-to-air missile system, or MANPADS, built for less than $100. According to the project page on GitHub, the five-minute video showcases a "proof-of-concept prototype of a low-cost rocket launcher and guided rocket system built using consumer electronics and 3D-printed components." The project description says the system uses an onboard flight computer, inertial measurement hardware, and a sensor stack that includes GPS, compass, and barometric modules to determine orientation and transmit telemetry. At the end of the video, the developer says the prototype was only made possible because "modern tools, additive manufacturing, consumer electronics, and rapid prototyping have shattered the old barriers that once confined advanced hardware to well-funded laboratories." someone built a $96 3D-PRINTED MANPADS rocket that recalculates its mid-air trajectory using a $5 sensor and piano wire its called Project Canard it integrates with distributed camera nodes to triangulate airborne targets and update flight paths in real-time it proves the… pic.twitter.com/WPz6ffUQzr — chiefofautism (@chiefofautism) March 15, 2026 He added, "This prototype explores what happens when these tools are pushed into defense, creating systems that are powerful, modular, and scalable in ways that were once impossible." The big takeaway is that 3D printing and consumer electronics are turning weapons into scalable hardware. Together, they are making warfare cheaper, faster, more decentralized, and more accessible to civilians. This technology has already appeared on modern battlefields, from FPV drones in Ukraine equipped with shaped charges to low-cost Iranian drones. Warfare has been permanently changed, as the hyper-development seen over the last four years in Ukraine and elsewhere has pulled 2030s-era war ...
The average one-year price target for Silergy (TWSE:6415) has been revised to NT$341.70 / share. This is an increase of 20.66% from the prior estimate of NT$283.20 dated February 21, 2026. The price target is an average of many targets provided by analysts. Th
The average one-year price target for Silergy (TWSE:6415) has been revised to NT$341.70 / share. This is an increase of 20.66% from the prior estimate of NT$283.20 dated February 21, 2026. The price target is an average of many targets provided by analysts. Th
IURII KRASILNIKOV/iStock via Getty Images Introduction I have written a lot on energy. That may not come as a surprise to many. Last year, I covered it so much that I was worried it would bother some people. Luckily, that wasn't the case. One of my favorite articles I have written on energy is the one titled "Energy Is, By Far, My Favorite Sector For 2026." In that article, I had to admit that I h...
IURII KRASILNIKOV/iStock via Getty Images Introduction I have written a lot on energy. That may not come as a surprise to many. Last year, I covered it so much that I was worried it would bother some people. Luckily, that wasn't the case. One of my favorite articles I have written on energy is the one titled "Energy Is, By Far, My Favorite Sector For 2026." In that article, I had to admit that I had become too bullish too soon due to risks like the supply glut. However, I also made clear why I remained bullish, which included these three reasons. Major producers started to reduce output, mostly due to unfavorable prices and dwindling Tier 1 reserves in places like the Permian Basin. Demand growth was likely underestimated. Investors were extremely bearish. My strategy is always focused on buying high-quality companies in unloved areas. I buy them as long as they are out of favor. Often, that results in being somewhat early. However, that's a risk I am willing to take, as I believe that nobody can time the market. So far, that has worked out quite well in the energy space, as the sector is indeed the best place in 2026. Year-to-date, energy is up 36% while I am writing this. That's 40 points above the return of the S&P 500 and almost 30 points above the 7% return of the materials sector. State Street Moreover, the surge was so wild that the ratio of energy stocks to the S&P 500 (see the chart below) has skyrocketed to November 2023 levels. In other words, energy has erased more than two years of severe underperformance within the span of less than four months. TradingView (XLE/SPY Total Return Ratio) With that said, this isn't a victory lap. Although I am super glad my thesis paid off so well this year, allowing me to beat the market, I'm not done. My thesis wasn't that energy would do well for a few months. My thesis was, and still is, that energy is the place to be for years to come. That's what this article is about. So, let's get right to it! Energy Crashed The M...
JHVEPhoto/iStock Editorial via Getty Images This article was written by Kody Kester (Kody's Dividends). As a dividend growth analyst and investor, I’m focused on companies with established track records of dividend growth. This is because a multi-decade streak of raising payouts is the ultimate litmus test for a high-quality business. More than just the cash hitting the account, it’s about what th...
JHVEPhoto/iStock Editorial via Getty Images This article was written by Kody Kester (Kody's Dividends). As a dividend growth analyst and investor, I’m focused on companies with established track records of dividend growth. This is because a multi-decade streak of raising payouts is the ultimate litmus test for a high-quality business. More than just the cash hitting the account, it’s about what the cash symbolizes: A dominant market position, a “Sleep Well At Night” economic moat, and a management team disciplined enough to put shareholders first through every phase of the economic cycle. In times of considerable volatility like right now, these are the types of companies that prove their worth. That brings me to my focus for today, which is Union Pacific ( UNP ). When I last covered it with a Buy rating in December for Treading Softly, I thought that UNP’s Q3 results were decent. The company stood by its earnings growth target. UNP sported an A- S&P credit rating with a stable outlook. Lastly, shares were moderately undervalued. Three months later, I’m reaffirming my buy rating. UNP’s long-term catalysts are intact and include adjusted operating ratio expansion and nearshoring trends to Mexico. The potential merger with Norfolk Southern ( NSC ) and accompanying revenue and cost synergies are another tailwind. UNP’s leverage ratio remains healthy. The final positive is that shares are about as undervalued now as they were in December. Union Pacific Is A Tailwind Triple Threat UNP Q4 2025 Earnings Presentation On Jan. 27 th , UNP shared its earnings report for the fourth quarter ended Dec. 31 st , 2025. The company’s total operating revenue decreased by 0.6% over the year-ago period to $6.09 billion during the quarter. For more color, this fell $36 million short of Seeking Alpha’s analyst consensus in the quarter. What was behind UNP’s slight total operating revenue miss for the fourth quarter? Freight revenue excluding fuel declined by 0.9% year-over-year to $5.16 b...