From the category archives:
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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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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November saw the sales of cars manufactured in North America drop to 236,000 units. That’s 17% below October (which was already horrible) and 40% below the number sold in November of 2007. Source: Econbrowser.
Meanwhile, GM and Chrysler are seeking $11 billion to avert collapse this year. In short, they are simply running [...]
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Gold is down sharply this morning (over $30 an ounce as I write this — ouch!). Maybe the “technical” buy signal gold triggered last week was incorrect, or maybe this is a pullback for all the late stragglers to get in before gold goes higher. We’ll have to see how things develop.
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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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