From the category archives:
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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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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The US government is bankrupting our economy by burning through hundreds of billions of taxpayer dollars in the form of bailouts to Paulson and Cheney cronies. American Express is getting bailout money?Seriously? American Express could vanish off the face of the Earth and we’d hardly notice. I think it telling though, that American [...]
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Today I watched with morbid fascination as the price of oil hit a 21-month low of $59.10 only a few hours after trading above $65. The amusement came from the market’s realization that China’s $586 economic stimulus plan wouldn’t do squat to prop up weakening demand for crude.
Oil prices had also been supported two OPEC [...]
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The morning rally in gold has faded. The market is going downhill in a hurry. Whatever bounce associated with the election seems to be fading.
Barack Obama’s Yuan Calls May Place U.S. on Collision Course With China Barack Obama’s calls for changes in China’s yuan policy may put the president-elect on a collision course [...]
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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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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’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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On the one hand … EU Pushes for Overhaul of Postwar Financial System
EU leaders called for a global summit as soon as next month to rewrite the 1944 Bretton Woods accord that paved the way for Europe’s post-World War II reconstruction and set up the institutions that oversee the world economy today.
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