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September 20, 2024

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If you logged into the CNBC website on Thursday morning, you might have seen the headline, “Wells Fargo says don’t buy this rally, fundamentals don’t support it.

Investors relying solely on fundamentals and not knowing how to read market technicals may be at a disadvantage when market analysts issue such warnings. It makes you wonder when they might finally give the green light if the market remains bullish.

Wells Fargo issued a similar warning back in November 2023. Whether analysts are right or wrong isn’t the point. The real point is that it’s important to have the right tools to anticipate a move, regardless of what fundamental analysts say.

A Look At November 2023

Let’s look at a weekly chart of the S&P 500 index ($SPX).

CHART 1. WEEKLY CHART OF THE S&P 500($SPX). Coming off a wave of selling, Wells Fargo warned not to buy into the recovery.Chart source: StockCharts.com. For educational purposes.

The following are points to note about the above chart.

The warning. Note the week that Wells Fargo issued a “don’t buy this rally” warning (black arrow). The S&P 500 just broke above its last swing high at around 4,450.

The context. Look at the NYSE New Highs, NYSE New Lows, and NYSE New High/New Low ratio. The market was coming off a heavy wave of selling (blue circle in $NYLOW panel). Yet, on the week of the warning, note that new highs were ticking up (blue vertical rectangle).

The expectation. Bank analysts thought the S&P 500 might be stuck in a range between 4,100 and 4,600 (magenta rectangle in price chart), citing headwinds ahead. Indeed, there were two more technical headwinds in the form of resistance at 4,540 and 4,600.

The outcome. The S&P 500 kept going higher as soon as it broke above 4,600. So much for analyst expectations.

What You Could Have Done

Nobody could have predicted what the S&P 500 was going to do. So, if you simply went long on a breakout of 4,450 and put a stop either below that level or, if you were willing to risk more, below 4,100, you would have seen the S&P 500 break above the resistance levels overhead as it soared to new heights. It was all about watching the key levels.

What’s Happening in Light of the New Warning

Let’s look at a daily chart.

CHART 2. DAILY CHART OF THE S&P 500. There is plenty of downside room for the index to decline while maintaining its uptrend.Chart source: StockCharts.com. For educational purposes.

Whether fundamentals do or do not support the S&P 500’s current rally, what you want to pay attention to are the following:

  • So far, the S&P Bullish Percent Index (BPI), a market breadth indicator, is favoring the bulls as the levels (77%) are well above 50% and rising, meaning that over 77% of S&P 500 stocks are flashing Point & Figure buy signals.
  • The Chaikin Money Flow (CMF), however, is warning of a potential pullback, as buying pressure is on the decline.
  • An Ichimoku Cloud has been plotted to measure the technical bullishness of the trend (thick green is a good signal) and to anticipate a potential support range.
  • But to zoom in on a potential support range, look to the Quadrant Lines to see how it divides the current price action into four zones. First and second quadrants indicate strength despite a pullback. Indications of weakness begin in the third quadrant (below the 50% level) and especially the fourth quadrant (below the 75% level), which is where you should begin worrying. These quadrants are also highlighted by the magenta rectangle.
  • A close below the bottom of the quadrant, followed by further declines, means that the current uptrend is no longer valid.

Closing Bell

Wells Fargo may have said, “Don’t buy this rally,” but here’s the deal: if you can’t follow key technical levels, you risk missing out on key moves (whether the forecast was right or wrong). It happened before. Will it happen again? We don’t know, so watch those levels.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

On August 5, we featured Carvana (CVNA), which at the time took the top StockCharts Technical Rank (SCTR) spot for the Large Cap Top 10. The stock has pulled back since then, but is now gaining traction. Perhaps the Fed’s decision to cut interest rates by half a percentage point added some fuel to the stock. With lower interest rates, people may be more inclined to get auto loans.

On Thursday, CVNA secured a third-place position in the Large Cap Top 10 SCTR scores. Let’s consider where CVNA is now and whether it’s worth adding positions to your portfolio.

FIGURE 1. SCTR REPORT FOR SEPTEMBER 19. Carvana is in third place. Will it retake its gold medal position?Image source: StockCharts.com. For educational purposes.

Carvana Stock Analysis

We’ll start with an analysis of CVNA’s weekly chart (see below).

FIGURE 2. WEEKLY CHART OF CARVANA STOCK PRICE. The uptrend is still holding and the SCTR score is just above 99. The RSI is at the 70 level, which means there’s room for the stock price to move higher.Chart source: StockCharts.com. For educational purposes.

Carvana’s uptrend in the weekly chart is still intact. It’s trading above the blue dashed trendline, and, so far, the series of higher highs and higher lows is still holding. The SCTR score is at 99, a level that has sustained since February 2024. The relative strength index (RSI) is just at the 70 level.

Is it worth buying Carvana now? Let’s analyze Carvana stock’s daily price action (see below).

FIGURE 3. DAILY CHART OF CARVANA. A break above the top trendline is a positive move for the stock. If volume increases, buying pressure remains strong, and price momentum supports an up move, Carvana could move much higher.Chart source: StockCharts.com. For educational purposes.

After its August–September pullback, a new trendline had to be created to account for the September low. CVNA stock is still in an uptrend, displaying a series of higher highs and higher lows. The stock price has broken through the upper channel line. You must ensure that momentum is strong to support a follow-through in price.

The weekly chart shows that CVNA’s stock price could move up to the next Fibonacci retracement, the 50% level. The Chaikin Money Flow (CMF) indicates that buying pressure is still strong, and the Moving Average Convergence/Divergence (MACD) oscillator shows that momentum is increasing. Both indicators support an upward move in CVNA’s stock price. Volume has increased in the last few days, but it needs to remain above average while Carvana’s stock price rises.

When Should You Buy Carvana Stock?

The break above the upper channel would be an ideal entry point for a long position. The stock can potentially move to $189, the first Fibonacci retracement level on the weekly chart. If the stock market is bullish and momentum remains strong enough to push the stock price higher, CVNA could move even higher.

When Should You Exit Carvana Stock?

If Carvana breaks below the upper trendline and falls back into the channel with slowing momentum, exit the trade. You may have another opportunity to enter the trade at a later time. If Carvana’s stock price continues to rise, place a trailing stop and be prepared to exit at least some of your positions if the stop gets violated.

The bottom line. Add the daily and weekly CVNA charts to your StockCharts ChartLists and continue to monitor them. The weekly chart clearly shows support and resistance levels, which will help to set your profit targets. Set StockCharts Alerts to notify you when specific price levels are hit.



Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Description

The securities of Lithium Universe Limited (‘LU7’) will be placed in trading halt at the request of LU7, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 24 September 2024 or when the announcement is released to the market.

Issued by

ASX Compliance

Click here for the full ASX Release

This post appeared first on investingnews.com

Investing in junior mining companies can be tricky, and it’s often challenging for investors to pick winners.

That’s largely because junior miners have one of the toughest jobs in the mining industry: finding mineral deposits. The kicker is that many of these mineral exploration companies don’t actually generate revenue to finance their exploration activities.

Rather, junior miners must present an attractive value proposition to accredited investors. They may then decide to take an equity position in the company, often through private placements.

What is a junior mining company?

A junior mining company is typically a company that focuses on the early stages of a mine’s creation, from prospecting and early exploration through to completing preliminary economic assessments and feasibility studies.

Junior miners often have low market capitalizations of under $500 million — some mining penny stocks are well under — although more advanced-stage junior mining companies with high-value projects may have market caps of up to $2 billion.

Very few junior miners have the funds and expertise required to develop a deposit into an operating mine; for many, the goal is to hit upon a deposit that’s attractive enough to catch the attention of a major producer that will pay to acquire the asset.

Another path a junior may take is to partner up with a larger firm that can give it access to the financing and qualified experts needed to build and operate a mine. Other junior companies actively search for brownfields projects with past-producing mines and stockpiled ore that can be quickly and cost-effectively brought into production — if successful, they can restart to production and generate cashflow to fund exploration efforts.

Are junior miners a good investment?

Junior mining stocks are inherently risky, and companies frequently fail because of the significant risks involved in each stage of exploration and development. Discovering viable deposits is incredibly difficult and capital intensive. As a result, stock values can shift drastically when juniors report disappointing drill results or less-than-stellar economic studies.

Aside from what could go wrong at the project level is what could go wrong in the markets. The risk appetite of resource investors is very much tied to the ebb and flow of commodities cycles, which can be unpredictable. Understandably, attracting capital in a market downturn can be an insurmountable feat for many junior miners.

Investing in junior mining stocks, however, can be a lucrative venture for those with a higher tolerance for risk and the know-how for spotting the right projects. Indeed, many investors are attracted to junior mining stocks because, as expert Peter Krauth has said, “all it takes is just one 10-bagger to make up for all the dogs in the pound.”

There may even be tax benefits to investing in junior mining stocks in the right jurisdiction. Flow-through share tax credits in Canada are one example. Click here to learn more about how they can benefit junior resource investors.

Most of the world’s junior miners are listed in Canada, with about 40 percent of all global mining financings taking place on the TSX or TSXV. Every year, the TSX Venture 50 highlights the top-performing listings across five key sectors, including mining. The 10 mining firms featured in 2024’s TSX Venture 50 list saw average annual share price growth of 245 percent and an average annual market cap increase of 734 percent.

Check out our weekly top gainers to find out which Canadian mining stocks are performing well each week, as well as the five best-performing junior gold stocks and junior copper stocks on the TSXV.

High numbers of junior mining stocks are also found on the LSE and the ASX.

5 tips for investing in junior mining companies

Investors should practice due diligence and use as much information as is available if they want to successfully identify investment-worthy junior mining companies. Here are a few tips on how to spot winners:

1. Experienced management is crucial

Look for a team roster stacked with players who boast a track record of successful discoveries and projects brought through to feasibility. News about staff changes like resignations, new hires and company restructurings may seem small at first, but team updates are a crucial point to be aware of when choosing juniors.

2. Keep up with the news

Keeping up with company announcements is important — juniors are often high-risk investments that rely on strong news flow. The value of a junior mining company is heavily affected by news highlighting exploration activities such as drill results, and business activities such as the development of new partnerships, management changes, financings and disputes. Press releases are a great source of this information.

3. Read studies and reports

Understanding technical reports and studies is crucial to understanding the progress of junior mining companies. Mineral resource estimates, preliminary economic assessments and feasibility studies are especially helpful to look out for — they provide information that can help determine the likelihood of a project’s success, its potential challenges and what the payoff might be. Many of these reports are technical, so it’s important to appreciate the details and understand topics like mineral grading, licensing, reserve estimates and metallurgical tests.

4. Be aware of political risk

It’s worth taking the time to familiarize yourself with the countries in which junior miners operate. Safe jurisdictions are those with stable, mining-friendly governments, low sociopolitical strife and transparent permitting processes. Metrics like the investment attractiveness index used in the Fraser Institute’s annual mining survey can provide an overview of which countries are more receptive to mining projects — but timely information is key, too. Wars, strikes and election cycles are particularly noteworthy and should always be looked at when considering juniors.

5. Use purchasing criteria

Speculating on junior mining stocks is common, but can be heavily influenced by personal biases and impulse choices. It helps to bring a more rigid, objective approach to picking junior mining stocks. Rule suggests buying a stock for a specific reason and selling that stock if the reason disappears. Thinking like this allows decisions to be made more quickly and with more clarity.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

How to best invest in silver is a thought on many investors’ minds.

Silver has long been an attractive vehicle not only for storing wealth, but for generating it too. Silver bugs rave about the growth opportunities to be had in a price rally.

However, what goes up must come down, and the silver market is prone to deep dives. This has much to do with the silver’s dual role as both a precious and industrial metal.

As with gold investing, there are four major routes to incorporating silver into your investment portfolio: physical silver, silver ETFs, silver stocks and silver futures. Let’s take a brief look at each one.

How to invest in physical silver?

The most direct avenue to investing in physical silver is by purchasing bullion products such as silver bars, silver coins and silver rounds. Physical silver can be bought via mints and bullion exchanges for immediate delivery.

As a tangible asset, silver bullion has inherent and real value, although as with other commodities it is also vulnerable to market fluctuations. Like gold, silver has been used as legal tender for centuries.

Today, the most popular silver bullion coins include the American Silver Eagle, the official investment-grade silver bullion coin of the United States Mint; the Canadian Silver Maple Leaf, produced by the Royal Canadian Mint; and the Australian Silver Kangaroo, out of the Perth Mint.

For those investors interested in holding silver bars, a dedicated storage vault in a secure storage facility is a necessity. However, it’s important to understand that there are associated costs with secure storage. Another expense associated with investing in physical silver is the premium charged on top of the silver spot price to cover minting costs.

Click here to learn more about the pros and cons of investing in physical silver.

How to invest in silver futures?

Silver futures are traded on a number of global exchanges, such as CME Group’s COMEX exchange, the Dubai Gold & Commodities Exchange (DGCX), and the Tokyo Commodity Exchange (TOCOM).

The silver futures market allows participants to enter into futures contracts for the delivery of the white metal in the future at an agreed-upon price. In such contracts, two positions can be taken: a long position to accept delivery of the metal or a short position to provide delivery of the metal.

However, the volatility inherent in the silver sector can be amplified in the futures marketplace. This makes it a realm for more experienced investors with a higher tolerance for risk.

Click here to learn more about investing in silver futures.

How to invest in silver stocks?

Investors can purchase shares in silver mining stocks on many of the world’s premiere stock exchanges. Buying a share essentially means buying a stake in the company, with financial returns or losses tied to its performance.

Canada’s Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) feature the most mining stocks of any of the world’s stock exchanges. The New York Stock Exchange (NYSE) and the Australian Stock Exchange (ASX) are also excellent platforms for mining investment.

Depending on risk tolerance and preferred investment strategy, investors can choose between a bevy of major silver mining companies with producing assets or junior silver miners. Many of the more mature silver mining stocks also pay dividends. Read our article on 5 Silver Stocks that Pay Dividends for a place to start.

It’s worth noting that investing in a junior stock can be risky. Since these companies can fail due to the risks associated with exploration and development, investors stand a greater chance of taking on a loss when getting exposure to silver this way.

Finally, another option for market participants is to purchase shares in silver streaming and royalty companies, such as Wheaton Precious Metals (TSX:WPM,NYSE:WPM). These companies are often viewed as a safer option when it comes to stocks.

Watch the interview above for Hansen’s thoughts on how to conduct due diligence for gold and silver stocks.

Click here for a list of the 5 biggest silver-mining companies, here for the 5 best-performing Canadian silver stocks, and here for the 5 biggest ASX silver stocks.

How to invest in silver ETFs?

If investors don’t want to take the risk of investing in individual stocks, they can also opt to invest in silver through an exchange-traded fund (ETF), which trades on an exchange like a regular stock.

There are several silver ETFs to choose from. For instance, some ETFs focus solely on resource companies in the space, some on physical silver bullion, and others on silver futures contracts. For those looking to gain exposure to a basket of silver mining stocks, the Global X Silver Miners ETF (ARCA:SIL) and IShares MSCI Global Silver Miners ETF (BATS:SLVP) are quality options.

The iShares Silver Trust (ARCA:SLV) is the world’s largest silver ETF by assets under management. It tracks the London Bullion Market Association silver price as its benchmark and holds silver bullion. The ProShares Ultra Silver ETF (ARCA:AGQ) uses derivatives such as futures contracts to invest in silver.

Click here for a list of the seven biggest silver ETFs.

Why invest in silver?

As a precious metal, silver can offer wealth protection in times of turmoil. When political and economic uncertainty are rife, legal tender generally takes a backseat to assets like gold and silver.

Recent concerns include the threat of a looming recession, social unrest, Russia’s entrenched war in Ukraine and the destabilization in the Middle East centered around the Israel-Hamas war. Investors will be closely watching these trends and any other geopolitical events that bring higher levels of uncertainty.

Like gold, the silver price often increases when geopolitical issues are at play. Yet, silver has the potential to offer higher returns than gold — the gold/silver ratio, which has moved between 1:75 and 1:95 since June 2022, is a metric that compares the metals’ prices at a given moment. Often, when gold moves up, silver will play catch up, and it stands to see a much bigger percentage gain when its price goes up.

With the highest electrical conductivity of all the metals, silver’s industrial side also offers opportunities for generating wealth. The major drivers of industrial demand for silver comes from sectors important to energy transition, specifically the production of photovoltaics and electric vehicles.

FAQs for investing in silver

Who is the biggest silver investor?

JPMorgan Chase (NYSE:JPM) is believed to hold the biggest position in physical silver through its custodianship of the iShares Silver Trust ETF (ARCA:SLV) and its significant COMEX silver bullion holdings. The financial services company’s majority position in the silver market has placed it in the center of silver market manipulation investigations in recent years.

Does Warren Buffett invest in silver?

Yes — despite his strong feelings against gold, Warren Buffet has reportedly invested nearly US$1 billion in silver. While the Oracle of Omaha sees no intrinsic value in gold, silver’s industrial and medical uses make it a good fit for his investment values.

What price did Warren Buffett pay for silver?

Buffett’s Berkshire Hathaway (NYSE:BRK.A,NYSE:BRK.B) took advantage of ultra-low silver prices between 1997 and 2006, buying up 37 percent of global silver supply. Silver ranged from US$4 to US$10 per ounce during that period.

In fact, between July 1997 and January 1998 alone, the company bought about 129 million ounces of the metal, much of which was for under US$5. Adjusted for inflation, the company’s purchases in that window cost about US$8.50 to US$11.50.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Amplia Therapeutics Limited (ASX: ATX), (“Amplia” or the “Company”), is pleased to announce that the United States Food and Drug Administration (FDA) has granted Fast Track Designation to Amplia’s Focal Adhesion Kinase inhibitor, narmafotinib, for the treatment of advanced pancreatic cancer.

HIGHLIGHTS

The US FDA has granted Fast Track Designation to Amplia’s lead drug narmafotinib in advanced pancreatic cancerFast Track Designation facilitates the development of investigational drugs and allows for expedited review

Fast Track Designation is available to drugs that may provide an advantage over current therapies in the treatment of serious conditions. It is designed to speed the development of these drugs to enable patients to receive them sooner. This Designation will grant the Company access to more frequent meetings, and written communication, with the FDA. In future, narmafotinib may be eligible for Accelerated Approval and Priority Review. The Company has previously received Orphan Drug Designation from the FDA for narmafotinib in pancreatic cancer.

The Company’s CEO and Managing Director, Dr Chris Burns, commented, “Fast Track Designation for narmafotinib is a significant milestone for the Company. With this designation, we can work more closely with the FDA to accelerate our clinical program and gather the most compelling evidence for regulatory approval in this devastating disease.”

Amplia’s clinical trial in advanced pancreatic cancer, the ACCENT trial, is ongoing in Australia and South Korea. Earlier this year, the Company announced that the US FDA had cleared its IND1 application for a trial of narmafotinib in pancreatic cancer in the US. This trial is in advanced planning stages.

This ASX announcement was approved and authorised for release by the Board of Amplia Therapeutics.

Click here for the full ASX Release

This post appeared first on investingnews.com

The Saskatchewan Research Council’s (SRC) rare earths processing facility in Saskatoon is now producing rare earth metals at a commercial scale, the organization announced on Monday (September 16).

The Canadian province is now the first and only jurisdiction in North America to achieve this level of production.

The SRC said the facility reached commercial scale over the summer, and can produce 10 metric tons of neodymium-praseodymium (NdPr) metals per month. The milestone came ahead of schedule, and the operation has reportedly achieved purities exceeding 99.5 percent, as well as conversion rates greater than 98 percent.

Building off this initial success, the SRC plans to increase monthly production at the facility to 40 metric tons by December of this year, with the goal of reaching 400 metric tons annually by early 2025.

Rare earths are essential for a range of high-tech applications, including electric vehicles and other green technologies.

Saskatchewan Premier Scott Moe expressed the provincial government’s support for the SRC’s achievements.

“This represents a significant opportunity for Saskatchewan to be a world leader in the area of critical mineral development by establishing a secure and sustainable rare earth supply chain,’ he commented.

In July, the SRC secured tolling agreements with international clients to convert rare earth oxides into metals at its facility. These agreements have helped the SRC to demonstrate its technology at a commercial scale.

Jeremy Harrison, minister responsible for the SRC, highlighted the significance of the group’s work, noting “Production of these metals is important for preserving our national security and growing our provincial economy for decades to come.’

SRC President and CEO Mike Crabtree further stated that the successful commercialization of the facility is the culmination of over 15 years of research and development.

“Since 2020, SRC has aimed to become a global leader in rare earth processing technology and today we’ve proven an industry model for future rare earth initiatives and supply chain development,” he said.

At 400 metric tons of annual output, the SRC’s facility will be able to power about 500,000 electric vehicles. Rare earths also play crucial roles in various other industries, including robotics and HVAC systems.

The facility has so far received a total of C$101 million in funding — US$71 million from the Saskatchewan government and an additional C$30 million from the Canadian government.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Moscow — Vladislav Bakalchuk, the estranged husband of Russia’s richest woman, was arrested and charged with murder Thursday, his lawyers said, after a deadly shootout at the Moscow office of Russia’s largest online retailer.

Two people were killed in a shooting Wednesday just a few blocks away from the Kremlin at the Wildberries office, as a dispute over the company’s future took a violent turn. Seven others were wounded, including police officers.

Vladislav and his wife Tatyana Bakalchuk, who filed for divorce in July, have been embroiled in a bitter public tussle since Wildberries announced plans to merge with outdoor advertising firm Russ Group in June.

Tatyana founded Wildberries, Russia’s answer to Amazon, in 2004, growing it from an online clothes reseller into a major marketplace for all kinds of goods.

Both parties blamed each other for Wednesday’s shooting.

Vladislav said he had arrived for a pre-arranged meeting and that it was staff at the office who fired the first shots. Tatyana said Vladislav and his colleagues had tried to seize the office and that there was no meeting scheduled.

Vladislav’s lawyers said he had been arrested and charged with murder and the attempted murder of a law enforcement officer, something they said was a “blatant and unprecedented violation” of their client’s rights.

The business dispute is centered around the merger that formed RVB, a new company with Robert Mirzoyan as CEO, which reduced Tatyana’s overall stake to around 65% in RVB from 99% in Wildberries.

Vladislav at the time said his wife was being “manipulated.” Chechen leader Ramzan Kadyrov, who stepped in to support Vladislav, called the merger an “asset grab.”

Tatyana has dismissed both of those allegations. The Kremlin said the merger had won President Vladimir Putin’s backing but he would not interfere with its progress.

In a tearful video message posted on Telegram early Thursday, Tatyana said: “Vladislav, what are you doing? How will you look into the eyes of your parents and our children? How could you bring the situation to such absurdity?”

The affair harks back to the 1990s, when deadly corporate turf battles were commonplace in Russia as huge swathes of property were redistributed after the fall of the Soviet Union.

This post appeared first on cnn.com

Hezbollah is on the backfoot. The first sign of that was the absence of a public gathering – typically consisting of high-level party officials and supporters – to watch the militant group’s leader Hassan Nasrallah deliver a televised speech on Thursday.

The second sign was that Nasrallah’s address – his first since two waves of attacks detonated thousands of Hezbollah wireless devices earlier this week – was very possibly pre-recorded.

The leader of the powerful militant group has not delivered a speech in person since the start of Lebanon’s last all-out war with Israel in 2006. But he will often make a point of proving that his broadcasts are being carried by a live transmission. In his speech last month, for example, Nasrallah referenced two sonic booms caused by Israeli jets that had broken the sound barrier over Beirut. These happened in the seconds leading up to the start of his address.

Thursday’s speech was billed as a live transmission, but audiences were given reason to doubt around 20 minutes in, when Israel dropped flares over the Lebanese capital and sent windows shaking with a fresh wave of sonic booms. The roar reverberated throughout the city yet the Beirut-based militant leader neither flinched nor referenced the incident during his speech.

Israel’s fighter jets seemed intent to underscore the gains of Tuesday and Wednesday’s attacks on Hezbollah’s wireless devices: the group had been driven deeper underground.

“Without a doubt, we have suffered a major blow,” said Nasrallah in his speech on Thursday. “(It is) unprecedented in the history of the resistance in Lebanon at least, unprecedented in the history of Lebanon, and it may be unprecedented in the history of the conflict with the Israeli enemy across the entire region.”

Thousands of small explosions swept through the pockets and homes of Hezbollah members this week, targeting pagers on Tuesday, and then walkie-talkies on Wednesday; in all, the blasts killed at least 37, including some children, and injured nearly 3000. The attack, dystopian in its style and scale, blindsided the group that had opted for analogue technologies after forgoing cell phones to avoid Israeli infiltration.

Nasrallah vowed a “reckoning” but was scant on the details. The attack “will be met with a reckoning and fair punishment in ways that they expect and don’t expect,” he said.

But he continued with an unmistakably subdued tone. “However, because this battle was carried out by invisible faces, you must allow me to change my style,” he said.

“The reckoning will come. Its nature, scope, when and where … that’s something we will definitely keep to ourselves,” he added. “Within the tightest circle, even within ourselves, because we are in the most precise, sensitive and deeply significant part of the battle.”

Nasrallah tried to buoy the sober speech by extolling what he described as strategic gains of nearly a year of confrontations with Israeli forces on the Lebanon-Israel border. He also vowed to continue striking Israeli positions until Israel’s offensive in Gaza ends.

“We’ve been saying this for 11 months; we might be repeating ourselves, but this statement comes after these two major blows, after all these martyrs, wounds, and pain,” said Nasrallah. “I say clearly: no matter the sacrifices, consequences, or future possibilities, the resistance in Lebanon will not stop supporting Gaza.”

Responding to Israeli threats of creating a security buffer zone in Lebanon’s southern border area, Nasrallah struck a defiant tone, “welcoming” Israeli troops into the territory where he said Hezbollah militants would swiftly seize the opportunity to attack them.

Meanwhile in Lebanon, people are continuing to reel from the attacks that overwhelmed hospitals with wounded people, mostly with deep flesh wounds to the eyes and face.

Hezbollah will likely recede further into the shadows and regroup about their methods. During the 2006 war, the militant group’s Al-Manar television was on air for the duration of the 34-day conflict, despite Israel’s heavy-handed bombing campaign.

Live broadcasts have long been hailed by Hezbollah as a symbol of defiance against the long arm of Israeli spyware, and their ability to keep broadcasting against the odds has been a point of pride for the group – lending it a mythical quality among its Lebanese constituents and even some of its detractors.

But this week’s attacks on wireless devices punctured that aura. Hezbollah – which literally translates into Party of God – has been rattled, forced to contend with the new reality that it is more exposed than it has ever believed itself to be.

This post appeared first on cnn.com

Karachi, Pakistan — Police in southern Pakistan shot dead a blasphemy suspect during an alleged shootout with armed men, officials said Thursday, the second such apparent extra-judicial killing in a week, drawing condemnation from human rights groups.

Police identified the slain man as Shah Nawaz, a doctor in Umerkot district, Sindh province, who had gone into hiding two days ago after being accused of insulting Islam’s prophet Mohammed and sharing blasphemous content on social media.

Local police chief Niaz Khoso said Nawaz was “killed just by chance” on Wednesday night when officers signaled two men riding on a motorcycle to stop in Mirpur Khas, a city in Sindh.

He said instead of stopping, the men opened fire and tried to flee, prompting police to return fire. One of the suspects fled on the motorcycle, while the other was killed, he said.

Khoso claimed it was only after the shootout that officers learned the slain man was the doctor being sought by them for the alleged blasphemy.

Videos circulating on social media showed local clerics throwing rose petals at police and praising officers for killing the blasphemy suspect. There was no immediate clarification from the Sindh government about the circumstances in which the suspect was killed.

The killing of Nawaz drew strong condemnation from the country’s independent Human Rights Commission of Pakistan, or HRCH, which said it was “gravely concerned by the alleged extrajudicial killing of two people accused of blasphemy.”

“This pattern of violence in cases of blasphemy, in which law enforcement personnel are allegedly involved, is an alarming trend,” it said in a statement. HRCP also asked the government to conduct an independent inquiry to ascertain who was responsible for Nawaz’s death and ensure those responsible for it were punished.

The killing of Nawaz in Mirpur Khas came a day after Islamists in a nearby city, Umerkot, staged a protest demanding his arrest. The mob also burned Nawaz’s clinic on Wednesday, officials said.

The latest killing comes a week after an officer opened fire inside a police station in the southwestern city of Quetta, fatally wounding Syed Khan, another suspect held on accusations of blasphemy. Khan was arrested Wednesday after officers rescued him from an enraged mob that claimed he had insulted Islam’s prophet.

But he was killed by a police officer, Mohammad Khurram, who was quickly arrested.

However, the tribe and the family of the slain man said they pardoned the officer, saying Khan hurt the sentiments of Muslims by insulting the prophet Mohammed.

Though killings of blasphemy suspects by mobs are common, the extra-judicial killings by police are rare in Pakistan, where accusations of blasphemy — sometimes even just rumors — often spark rioting and rampage by mobs that can escalate into killings.

Under Pakistan’s controversial blasphemy laws, anyone found guilty of insulting Islam or Islamic religious figures can be sentenced to death — though authorities have yet to carry out a death sentence for blasphemy.

Pakistan has witnessed a surge in attacks on blasphemy suspects in recent years.

In June, a mob broke into a police station in the northwestern town of Madyan, snatched a detainee who was a tourist, and then killed him over allegations that he had desecrated Islam’s holy book.

Last year, a mob in Punjab province attacked churches and homes of Christians after claiming they saw a local Christian and his friend desecrating pages from a Quran. The attack in the district of Jaranwala drew nationwide condemnation, but Christians say the men linked to the violence are yet to be put on trial.

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