From the category archives:
The New Year is barreling toward us like a runaway bus. Today’s Must-Read: “The Collapse of Financial Globalization”
Brad Setzer’s writing style is a bit dry, but his charts are eye-popping and he makes his point like a silver bullet to the brain: “private capital inflows to the US and private capital outflows from the [...]
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Merry Christmas-Eve-Eve! Or Happy Festivus, if you’re so inclined. Let the Airing of Grievances begin!
Here’s my chart for today — a monthly chart of gold. Note how the recent uptrend has been tested but hasn’t broken (yet anyway). In fact, RSI, a measure of momentum, is now giving a “buy” signal. [...]
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Yesterday I did a MaM-TV video talking about potential movements in ExxonMobil and gold. Exxon Mobil failed to follow through on its breakout from Tuesday; we’ll have to see what happens next. I showed you the Exxon chart yesterday. Here’s a version of the chart of the GLD that I showed in the video … [...]
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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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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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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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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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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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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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