From the monthly archives:
Here’s what I am reading today …
ASIA
Japanese Business Confidence Plunges Most in 34 Years as Recession Deepens Sentiment among Japan’s largest manufacturers fell the most in 34 years, signaling companies are likely to cancel spending plans and cut more jobs, pushing the economy further into recession.
China Plans to Increase Money Supply [...]
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Gold is powering higher today. To quote MacBeth: “Is this a breakout from a cup-and-handle formation that I see before me?” Well, maybe I’m taking some liberties with the bard.
But gold’s move higher is translating into even bigger moves for the major gold producers … And we’re even seeing moves [...]
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I’m appearing on Fox Business TV at 1:00 to 1:06 today on the Stuart Varney Show. Stuart’s a good guy, so probably no chairs will be flung (ha-ha). Anyway, I’m going on to talk about oil prices.
If you don’t get Fox Business — I don’t get it on my darned cable — here [...]
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Even though the Senate failed to pass a bailout for US automakers, it looks like Detroit may get money after all … The White House just announced it’s considering bailout out Detroit’s Big 3 using the Treasury Department’s TARP program, the $700 billion rescue fund.
But didn’t Bush say he WOULDN’T use the TARP [...]
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Man, you guys had fun while I was away. And look at this welcome-home party! Stockscratered at the open, as Republican senators refuse to goalong with the Detroit bailout package.
On the other hand, we probably would have had “sell-the-news” stock dump even if thebailout package did pass. The economic environment is terrible. As Calculated Risk [...]
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An exciting opportunity just came up: I’m on my way to check out a new gold mining project south of the border. So stay tuned, and I will fill you in on what I dig up as soon as possible.
Regards,
Sean
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After I recommended a bearish position in RCE on Friday, the markets surged like a rhino on cocaine. Typical! Still, it’s better than a hot-death sandwich, if only because A) we kept the position small and B) my other services, which are longer-term, retain their bullish stance on gold, energy and agriculture.It seems to be [...]
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Remember how rosy things looked yesterday morning, with the market shaking off bad economic news? Well, that faded in the afternoon, and today, just rotten economic news is giving the markt its lumps. And yet gold is down despite an apparent weakening trend in the U.S. dollar. Look at a chart of the dollar … Maybe [...]
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Time to look at gold again … Gold is drifting sideways, trying to decide if it wants to rally or head lower. I’m keeping an eye on it. And now let’s look at a chart of the gold’s doppleganger (in the short-term, anyway), the US dollar … More sideways drift. In [...]
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Here’s my latest Money and Markets column …
Quest for the City of Gold
by Sean Brodrick
Wednesday, December 3, 2008 | 7:30 AM
El Dorado … Cibola … Quivira … these are all fabled “lost cities of gold” that fired up the imaginations of explorers who pursued their dreams to the four corners of the Earth. [...]
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