From the category archives:
Is your 2008 going out with a bang, or slouching toward the exits? Here’s a chart for those who like a golden end to the year … This compares gold (green line) to silver (blue line), the S&P 500 (black line), oil (red line) and the TLT bond fund (pink line). Obviously, bonds [...]
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It looks like a stupor-inducingly dull day in the market. I survived Christmas, though my Aunt’s dog, Sidney, did not. In fact, it died at my house yesterday afternoon. Sidney was a very old dog, a good dog, and very loved, and will be missed very much.
Earlier in the day, we had fun. Along [...]
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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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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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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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