From the monthly archives:
The S&P 500 is very close to giving a weekly ‘buy’ signal.
We are very close to an “outside reversal” candlestick on a weekly chart of the S&P 500. It just has to go 5 points higher than it has already. If it does — and the S&P 500 ends the day positively — [...]
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Well, the S&P 500 did not quite go high enough to give us an outside reversal day. Last week’s high was 985.44. This week’s high was 948.38. However, some people will say these lines are drawn in crayon, not with razors. So, make your own decision.
In other news, lots of bearish [...]
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Here’s the chart you need to watch — currencies are driving everything. Is the US dollar going to correct lower? It hasn’t broken its recent rocket ride of an uptrend. Neither has crude oil, despite its rally yesterday …
GLOBAL ECONOMY
Treasury, FDIC Crafting Plan to Rework Millions of Mortgages [...]
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Our remaining short positions got cleaned out yesterday and this morning (ouch!) and now the market is waiting with bated breath to see if the Federal Reserve cuts the Fed Funds rate by 50 basis points (expected) or more or less (really not expected).
There are several technical — and temporary — reasons the [...]
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NYU Economist and former Clinton administration Council on Economic Advisors member Nouriel Roubini has been uncannily correct about the global financial meltdown, earning him the nickname “Dr. Doom.”
Late yesterday, speaking at a Bloomberg Media forum in New York City, Roubini called for an immediate $400-$500 billion U.S. economic stimulus package focused upon projects [...]
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I’ve been talking recently about how the credit crunch may slow project development in both energy and gold. Here are two examples …
Credit Crisis May Block, Delay 20% of Deepwater Rigs, Slow Petrobras Boom As many as 20 of the 100 deepwater oil rigs on order worldwide may be delayed or canceled as [...]
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It took me all day to get to posting to the blog because I had issues … man I had issues.
Anyway, kind of a wild end to a wild day. The Dow opened way down, was up by as much as 200 points earlier in the day and was still positive 15 minutes before [...]
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This week, I wrote a MoneyandMarkets.com article, “Yes, We Have No Silver“, about my experiences trying to buy physical silver. I mentioned the Northwest Territorial Mint. I just received a letter from one of the fine folks who works there. It reads …
Hello Sean,
I read your article today speaking of the lack of silver [...]
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The babblers on CNBC are speaking in tones usually reserved for funerals this morning, as the S&P 500 futures go limit downand Dow futures are close to limit down. I am so, SO glad we added bearish positions to Red-Hot Canadian Small-Caps, Red-Hot Global Small-Caps and Red-Hot Commodity ETFs yesterday. But after the carnage [...]
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It’s been a heck of a day. Gold cratered in overnight trading, then bounced, and now is headed lower again. The same for the broad stock indices. Crude oil is rallying, but not much when you consider that OPEC is about to announce a production cut (according to whispers).
METALS
Gold Falls Below $700 [...]
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