From the monthly archives:
I am seeing a flurry of stories that base metals miners are rushing to shut down. Just look at some of the headlines from the past couple days:
Zambian copper workers face layoffs … Indefinite shutdown for world top tantalum miner … Mwana Africa shuts Zimbabwe nickel mines … Denison Mines delays uranium project … [...]
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Here is my latest Money and Markets piece …
Financial Mayhem to Fuel Gold’s Next Surge?
by Sean Brodrick
Wednesday, November 26, 2008 | 7:30 AM
Last week, I wrote about how our oil-rich friends in the Middle East are buying gold hand over fist. It turns out they’re not the only ones. The latest figures from [...]
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We try to use technical analysis for forecasting, but it’s better used as a rear-view mirror. Here is a daily chart of gold by the numbers … #1 – the second part of a double-top. This signaled (in retrospect) gold’s upcoming, steep decline.
#2 – a pivot point. Measuring from 1 to 2, [...]
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There’s not much I could say about the markets today that can’t be said in charts. All the major averages gave weekly sell signals at the end of day yesterday. One thing isn’t going down — gold. It is showing strength today — maybe it’s the fear trade, maybe it’s just options [...]
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Deflationary forces are pushing the price of gold lower. However, beyond the short-term price for paper gold, some of the news is surprisingly bullish. I’m putting out an update to my recent gold report today, with some very interesting news on supply and demand. The director of the World Gold Council was [...]
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The market is depressing the hell out of me, so it’s good to share some laughs with Phil. We also cover some important topics, too. You can listen at: http://www.howestreet.com/index.php?pl=/goldradio/index.php/mediaplayer/1030
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My MoneyandMarkets.com column today, Are Oil-Rich Sheiks Being Scared Into Gold?, is pretty bearish on everything but gold. That said, I also wouldn’t be surprised to see a broad market rally this next week. In 13 of the last 15 years, the week before Thanksgiving has been a positive one in the market.
And [...]
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The US is probably going to join the rest of the industrialized world in recession and all the bad news probably isn’t priced in yet. However, it would not be surprising to see a rally soon.
We’re approaching Thanksgiving. In 13 of the last 15 years the Dow has been up the week before [...]
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Today, the markets look to open lower as the parade of pain continues around the world. Japan has joined Europe in recession, President Bush lets slip that he is worried we are facing a depression “greater than the Great Depression”, and China’s consumption of commodities is running off the rails.
I’ll have links to [...]
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Yesterday we moved to the low end of the recent trading range, the 850 area of the S&P 500 (SPX) or 85 area of the SPY. Whether that constitutes a successful test of the area or not is an open question. Given that weekly oscillators reflect a deeply oversold condition, we may see a [...]
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