From the monthly archives:
Oil got a big boost today thanks to the government bailout plan. But what number should we watch? I’d say keep your eye on overhead resistance at 102.89. If oil can close above that in the next couple trading sessions, we can go higher. Otherwise, we’re looking at a trip back to 90 or [...]
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It’s been one hell of a week. And today, September 19th, is Talk Like a Pirate Day. Argh, Matey! In that spirit, I notice a very nice finish to gold today … Gold finished near its highs, and has closed (again) above the 50-day moving average. I’d wait for a pullback, but [...]
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“When troubles come, they come not single spies, but in battalions.” — William Shakespeare
The “RTC-type” bailout of the financial industry proposed yesterday has expanded to a team effort by the Treasury, Federal Reserve, White House and Congress.
As part of the effort, the Federal Reserve is shooting out money through a fire hose [...]
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From CNBC last night …
The Securities and Exchange Commission says it will issue a temporary ban on short-selling CNBC has learned. SEC Chairman Christopher Cox briefed Congress late Thursday of the agency’s plans to take the extraordinary step of interfering with the market’s regular functioning. Short-selling is a trading strategy of selling borrowed stock [...]
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Here’s an excerpt from my second Red-Hot Commodity ETFs issue for today …
Central Banks around the world have apparently decided it’s “free money day.” I’m thinking of driving by the Federal Reserve, just to see if they throw a billion dollars at me when I make a sad face. Hey, the First Bank of [...]
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So, the government bailed out AIG to the tune of $85 billion, AFTER saying in yesterday morning that a federal bailout was off the table. Don’t you like how Uncle Sam keeps changing the rules from hour to hour.
Anyway, have you heard about this? Wednesday catastrophe: breaking the buck. Click through and you’ll [...]
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What a wild day it was today. I published one Red-Hot Global Small Caps issue, one Red-Hot Commodity ETFs issue, and two Red-Hot Canadian Small-Caps Issues — all of them trading issues. I also put out another update for my most recent oil report.
So, I didn’t have time to blog until the trading [...]
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Dow futures are way, way down this morning as the US financial sector careens toward a ditch. On the other hand, gold started the morning up $14, but it’s only up $5 as I write this as the US dollar rallies. We’ll sit the morning out — I may have trading recommendations for my [...]
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Oil continues to look bearish, especially as it is not rising even as a new hurricane bears down on the Texas Coast. This track is especially alarming because the projected path has shifted north and east in the last 24 hours. If that track continues to shift, the impact on America’s oil, [...]
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I can’t walk to the water cooler without hearing from someone how China’s economy is deflating like a balloon. Oh really? Let’s look inside the latest Bloomberg story, “China Inflation Cools to 4.9% as Export Growth Slows,” and see what’s happening. Sept. 10 (Bloomberg) — China’s inflation weakened to the slowest pace since June [...]
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