From the category archives:
It sure looks like gold is poised for a pullback. Here are two charts that illustrate my point … The rally in the U.S. dollar is weighing on gold just as it bumps its head on overhead resistance. It should head lower from here. The longer-term picture for gold is [...]
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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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This morning, we are seeing gold build on its sizeable gains from last week, and oil is up as well. The reason for the move in oil is simple: The explosive conflict in the Middle East is acting as a catalyst on an oil market that was already deeply oversold. Here is some [...]
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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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I recommended subscribers who are following my “Golden Parachute for 2009″ bank HALF their gains on their open positions yesterday. They were double-digit gains. It was time to grab some gains because the US dollar bounced from Fibonacci support. See the dollar chart below.
I think the buck could bounce to 84 from here, [...]
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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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We’re all waiting for the Fed announcement shortly after 2 pm today, where it is widely expected that the Fed will cut its benchmark interest rate in half to 50 basis points. According to Bloomberg, with Fed rates at zero, Fed Chairman Ben Bernanke will then move on to using the Fed’s balance sheet [...]
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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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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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