Gold

  • $2000 Gold in 2009 says Peter Schiff, Ron Paul supporter
  • Got Gold Report Comments on Proposed SEC Short Sale Rule-


    Got Gold Report Comments on Proposed SEC Short Sale Rule S7-08-08

    By Gene Arensberg
    30 Jun 2008 at 02:10 PM

    ATLANTA (ResourceInvestor.com) — I’d like to comment on the Securities and Exchange Commission’s proposed naked short selling antifraud rule S7-08-08 under the Securities Exchange Act of 1934, issued in Release No. 34-57511. The Securities and Exchange Commission needs to crack down on illegal manipulative short selling.

    As Dr. Robert Shapiro pointed out in his May 8, 2008 comment, while naked short selling is presumed to be a small amount of the trading volume when compared to all volume of the exchanges as a whole, when the illegal practice is concentrated into thinly traded small and micro-cap companies it can make up a large portion of the trading activity in those issues, perhaps even a majority of all trades for those issues for extended periods of time.

  • July 2, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • July 2, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • Newsflash: Weekly VIX no friend of Bulls!- The scary thing about the weekly chart of the VIX - which runs contrary to the broad stock market - is that it shows much more room to rise as indicators are nowhere near 'over bought', especially if resistance noted by the dotted line is surmounted. Sure, there can be a sharp bear market rally at any time, but the weekly chart smooths out a lot of the noise and says the bulls have more pain in store. Anecdotal evidence in my personal life reinforces the notion that Joe Public has not even come close to questioning his 'truths' born of the old secular bull market. A friend of mine, a very intelligent CPA claims you "can't time the market". "I disagree" says I... "and bear markets can drag on for inconveniently long periods of time". "I got time" says he. Anyway, da VIX weekly...
  • Just for fun - CRDC- Remember that chart study I did where I was actually considering buying as CRDC snuck out of the downtrend line?
  • July 1, 2008 "Futures Videos" Interview with Jake Bernstein-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • July 1, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • July 1, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • June 30, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 30, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • Gold Intraday Descending Triangle Break Example-

    Gold prices and the Gold ETF (GLD) broke an interesting descending triangle early this morning that I wanted to highlight to you.

    GLD 5-minute chart (StreetTracks Gold Trust Shares):

    GLD ETF " src="http://blog.afraidtotrade.com/wp-content/uploads/063008-1553-weekly11.png" alt="" width="469" height="315" />

    Price began the day with a morning gap that was almost instantly faded for the opening trade.

    Price then rebounded off Friday’s close and the 50 period moving average, which set-up another short-term ’scalp’ trade, but failed to reach above the intraday high, and inflected back down to retest the rising 50 EMA and yesterday’s close, and then began to consolidate into a tight coil with numerous doji candles forming close by (red arrow).

  • Next leg of contraction upon us?-
  • HUI - Quite bullish but toppy in the very short term- Here is a daily chart of Huey showing a nice breakout but with some potential for a pullback AKA buying opportunity for those that would like to be aboard but are currently under-exposed. Edit (1:52) Jeez, Huey qualifies for a short term correction (price-wise) in one morning. If that is all there was it is a bullish sign of a market that can't wait to get higher and leave folks behind. Let's see how it continues to unfold.

  • The Global Inflationary Storm- I was reading an article today on Seeking Alpha where the author was talking about inflation. His point was, that the US continues to inflate (we are talking about monetary inflation here), and that all other countries are forced to inflate in order to maintain some semblance of world trade. This phenomenon has basically allowed the [...]
  • Protecting Your Wealth From Government Confiscation- Hello dear reader, this will be a brief entry as I just returned from a trip to Dallas where I spoke at a leadership summit for gold distributors. My topic today is one of wealth protection. Many of our high net worth clients understand the necessity of protecting wealth by placing it outside the reach of [...]
  • Shameless Plug for RLTR- Alex’s Notes: Little plug here for the company I was the CEO for once upon a time. I am impressed that they signed Disney. Now all they need is some revenue, and an uplist to a real exchange, and they might have something here. ReelTime to Offer Video on Demand Rentals From the Walt DisneyStudios [...]
  • Gold, the solution to high commodity prices- If policy makers were astute, they would quickly seize on the obvious solution to today's soaring commodity prices that are causing so much pain and suffering around the world as the rising costs of food and energy make life increasingly difficult for individuals and businesses:

    Direct "commodity speculators" into gold - the only commodity that does not adversely affect the general population when its price soars.

    In a world full of fiat money, it should not be surprising that investors of all stripes are gravitating to hard assets. Whether they be labeled "investors", "speculators", "index speculators" - call them what you'd like - more than any time in recent memory, people are choosing to exchange paper money for some claim on a hard asset.

    Why?
  • Oil and gold contest update #5- Can you stand the excitement? With one more trading day left in the fourth edition of the "Guess the price of oil and gold" contest, there has been just enough movement over the last week to shake up the top ten vaulting TP from seventh place to first.
    Linda M was knocked out of the top spot, CW moved up one notch, and lookee who's there sneaking up into spot number four, maybe thinking about a last minute run with a bold guess of $145 for crude oil (the gold guess was a good one up until this morning).

    Over the last week the price of oil rose from $135 a barrel to $140 and gold awoke from its recent slumber to tack on more than $25 to end the week at about $928.
  • Gold finds its mojo-

    All day CNBC pundits have been screaming how this is the worst June since the Great Depression and how the DOW was already in bear market territory (intraday). If you recall, I have been leaning towards seeing the March lows hold for the rest of this year. Although I based that statement on the S&P which is still above the March low of 1257, all indications are that it will join the DOW and financials in dropping to a new low. Fortunately for me, it wasn't a conjecture that I base my investment decisions on. The emphasis in my portfolio has always been on precious metals, commodities, and the global growth story. That have worked well this year and is continuing to work in this difficult environment.

  • June 27, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 27, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • Here's what makes it worth it boys & girls...-
    Hi Gary,
    I am always impressed when commentators tell us exactly what they are doing with their own money. anyone can talk economics, not many can push the trade button and make money.
    thanks to yourself, FSense, Mauldin, Hussman et al, i have been on the case with this market for two years now. Personally, i thought the whole kaboudle would hold together until after the Olympics, so it came a little earlier than i was anticipating, but i had already sold most of my property, and got the last one away sharpish after the credit crunch revealed itself.
    it amazed me how many financial wizards i spoke to didn't realise that this was the big one.
    anyway, i am 46 sitting on a pile of cash, in Northern Rock, a 100% UK government protected bank, earning more interest than i was getting with HSBC (figure that one out?)
    been selling the nasdaq, and whilst i have been very disappointed that due to moving, operations, and a whole bunch of other lame excuses, i haven't made a fortune, i haven't done too badly either.
  • Some favored precious metals stocks- That is enough fooling around with the bulls on this blog for a while. Whether or not stock bulls capitulate and present a buying opportunity, it is a bear market and it would thus be a bear market bounce (BTW, the Trannies are finally breaking down from the megaphone I showed a while back - not good). I will chronicle their fate but am unlikely to join them any time soon in any way but trading - which I won't mention here.

    I had been getting beaten like a red headed step child on my (mostly smaller) gold stocks for so long that it seems like I lost energy on posting about them. I held them and added the washouts, but really didn't watch them too closely, having made my decision to bag hold rather than trade at a certain point. It is funny how you can see a correction coming (all that Dow-Gold ratio reset/recalibrate stuff I wrote) and still get mentally fatigued by it.
  • Is Your Bank Safe? This is not a drill.- This is not an ad I am putting up to scare people or make money from. In 2002 friends, family and neighbors looked on in amusement as yours truly went around eastern Massachusetts in search of a 'safe' bank. Why?
  • What a day- I was out for the last few hours of trading and certainly found my screen interesting when I returned. My are the bulls are in trouble. To be honest with you I really did not think the Fed was going to just roll over and play dead like they did yesterday. In fact, I had that old familiar feeling that there was a target on my back with a little yellow brick shaped object in the bull's eye. But instead the Fed is my friend and I think the markets are figuring out that something is really wrong; as in the kind of wrong I have been preaching about for 4 years running. Wrong as in something really big being insolvent. The United States of America is really big. You, me and many others have known this is a pyramid scheme of epic proportions but the timing - ah the timing - is always an issue. I think we are there.

    The Dow is terminal here if this breakdown below 2008 lows and the 1999 highs is not reversed pronto. However the NDX is merely doing what I mentioned it would do weeks ago as it lost the rising wedge amid bearish divergence; it is filling gaps.
  • June 25, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 26, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • $HSI - Looking closer at the Hong Kong Trade- Just because I am a financial blogger and website owner does not mean I have the answers. I have the answers that work for me and I hope some of the ideas I put out there have helped you as well. But I am just a lowly market participant - just like you - trying to make my way. Why the preamble and why the Hong Kong theme follow up? Because of this mail received from a reader:

    Gary:
  • June 25, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 25, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales:800-284-3010

  • June 24, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 24, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • Beyond Free Week- EWI's Free Week will end soon. But in my inbox today I got a message from Elliott Wave International. In it, they deliver an update on FreeWeek they’re running for U.S. Stocks, Bonds, Gold, Silver and more (there’s still time to take part: click here).

    But what really caught my attention was the great offer they presented for their most popular U.S. analysis package, the Financial Forecast Service, which combines Bob Prechter’s famous Elliott Wave Theorist with two other short- and intermediate-term U.S.-focused publications.

    In the email was a forecast that was delivered by the EWI back in July 2005:

  • June 23, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • June 23, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • Dow-Gold Ratio (DGR): Daily- In the last Biiwii.com Letter (which I should update but like the COW seems to be suffering from the ease with which blogging allows me to present ideas) I showed a monthly DGR chart and the down-gap in investors' spirits that needed to be corrected. We have not quite hit the monthly targets for bullish upside but the daily chart is now arguing that the resumption of the crushing of paper bulls could resume at any moment at least in comparison to a real asset like gold. Recall the next downside target upon resumption of the true big picture trend is a DGR of around 10. That is simply the next target. I expect much lower in the coming years.
  • June 20, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • June 20, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 19, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 19, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • S&P 500: Big picture-
























  • June 18, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 18, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • EWI - Free Week- I have used Prechter & Co. for years now as a balance to my perceived view of markets. In other words, if I am able to digest Prechter and his well thought out analysis and still remain contrary to some of his views, it has made me a stronger investor/trader. You know what I am talking about; precious metals. They have been flat out wrong here since 2001... but the depth of research that they are right about is substantial and I always want to know how Prechter & Hochberg are viewing things. In that regard I am looking forward to reviewing each and every day of FreeWeek and if you would like to as well, here is how to do it:


  • June 17, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 17, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • Gold stuff and a look at SPX & USD-
  • "Swingline Study"-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • June 16, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 16, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • A couple items to highlight- 1) Adrian Ash, the head of research at BullionVault, is one of my favorite financial writers. Not only is the dood smart, but he writes well and doesn't beat around the bush. In this short note he emphasizes what inflation is and what inflation is not: Inflation & Prices. It is imperative to understand the difference if you want to be successful in a big picture where monetary wankers are continually screwing up (read: G8).
  • G8 - Predictable hilarity- From the NY Times:

    Surging Oil and Food Prices Threaten the World Economy, Finance Ministers Warn

    By MARTIN FACKLER
    Published: June 15, 2008

    OSAKA, Japan — The global economy faces a one-two punch from slowing growth and soaring fuel and food prices, finance ministers from the world’s richest nations warned Saturday, though they stopped short of offering concrete solutions.

    Duh...

  • June 13, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • June 13, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • End of Week Status Update- As noted a few posts ago, things are certainly getting interesting lately. Jawbones have been getting a lot of exercise with the Fed, ECB and China falling all over themselves to declare how tough they are on inflation. They are not tough. Jointly, they and other global bankers created this mess. But that is a screed for another time.
  • June 12, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 12, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • HUI & USD weekly charts- Regardless of fundamental beliefs, I make sure I keep in mind that fundamentals are fundamentals and charts are charts. It is great when they both say the same thing but it's a funny thing about funda's; they tend remain in place while the charts give clues that the they will be changing in the future.
  • June 11, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 11, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • Are you into it?- This is a time when you either know you are into the markets - for all the ups, downs, twists and turns - or you are not. Either your blood gets pumping or you turn away in disgust. My blood is pumping.

    Suddenly, global officialdom is concerned about inflation. After creating the genie through so much bad policy - our US helicopter pilot right up there - central banks are trying to jawbone it back into the bottle. Trichet did so last week and the Dollar tanked vs. the Euro. On this side of the Atlantic, da boyz at da Treas and the Fed did the same. Chinese markets are rolling over because of the Politburo's increased vigilance against inflation. People think these clowns set policy but they are simply reacting to public and market angst about the results of all their previous inflationary policy - and the expectations of same going forward.
  • June 10, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • June 10, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • Chart Study - CRDC- While getting pummeled in the gold stocks awaiting resolution to scenarios 1 and 2 in the previous post, I thought I would put up a great chart of this small medical company, Cardica, Inc. It has been speculated that this company, which makes a complimentary minimally invasive product to the Intuitive Surgical (ISRG) DaVinci Robot, could be a buyout target of same. That is just speculation of course and the company should be looked at on its own independent merits, which I am starting to do.
  • June 9, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 9, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • HUI/Gold Ratio - Favorable- You can look at this chart at least two ways...

    1) MACD is coiling for a move (one way or the other), ROC has bullish divergence and the thing has the look of a grinding bullish consolidation. In other words, one can be poised for a bullish break out above the noted downtrend line or

    2) We will get another in a line of buying opportunities that this market has been generous enough to present. This would be signaled by an RSI near 30 and if bullish divergence in the indicators were to persist, so much the better. The beauty of corrections, especially in this sector, is that they tend to drain the spirits of the majority at the precise time that they should be getting bullish.
  • June 6, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 6, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • June 5, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 5, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • HUI Daily Chart- Last week I posted a weekly chart of HUI showing an apparently routine and a-okay pullback. That remains the case although as written earlier I would have preferred a sharp pullback from 460 to test the April low instead of dealing with the 'potential' right shoulder that is forming now. But whether it is just psychological or not, we have to deal with its 'potential' (measured target of 240) until such time as it goes away. It is not a well formed, rolling shoulder and gold stocks have certainly dealt with would-be H&S's before and negated them, but there is the potential.
  • May 29, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • May 29, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • Trannies shouting through a megaphone- Those living on the sunny side of the street see the Transports flirting with new highs and crude oil finally breaking down and think happy or at least hopeful thoughts. Pardon me, but with momentum indicators rolling over and sporting bearish divergence along with same on ROC (rate of change) and the reverse symmetrical triangle forming on the Trannies, I would not get carried away with the happy talk.

  • June 4, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 4, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • May 30, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • June 2, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • June 2, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 3, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • June 3, 2008 Mid-Day Metals Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Metals Review, Sales: 800-284-3010

  • May 30, 2008 Mid-Day Stock Indexes Review-

    iraepsteinfutures Ira Epstein and Company Futures Trading, Online Trading, Technical Analysis, Stock Indexes Review, Sales: 800-284-3010

  • Nominal Gold - Monthly- I know that all the ratio charts I post can bore the heck out of some readers, but they are vital to getting an early read on macroeconomic turns. They even bore me sometimes. In fact, I may start incorporating more charts of individual stocks because after all, that is where the action is if like me, you trade stocks and options as opposed to futures or Forex.
  • Commodities and Dubai-

    Just got back from yet another conference and no surprise it covered the current hot topic: commodities.

    Speaking of hot, this event was in Dubai. I’ve experienced some hot and humid conditions in my life in places like Manila, Seoul, Singapore and Hong Kong. But this was by far the hottest climate I’ve ever experienced. It was a dry, baking heat. When outdoors, finding shade helped and certainly the buildings had great air conditioning. But, for example, I had my cousin who lives in the city take me around the gold (souk) market. Getting out of the car into the sun was incredible. It felt just like a dry sauna. And they say it’s just the beginning of the hot season! Luckily, the hotels, office buildings and shopping centres are all so luxurious that climate does not have to be a concern. With most taxis I rode in being a Lexus, you get a sense of what this city is about. Never mind the Burj Al Arab hotel, indoor skiing and other obvious signs of excess.

  • Gold-Oil intraday using GLD-USO proxy- A few days ago I showed a chart and wrote about gold hammering out a bottom vs. oil. Well today, we are getting confirmation. The world is changing and the conventional legions are again lining up to be duped into the all one commodity complex theme. The Banking index is in danger of crashing (new lows going back to 2003 and yet it is all one commodity complex? Give me a break. This is FINANCIAL and financial means money or in the case of modern finance, munny. Very funny munny.
  • Bar Talk- I was in a bar/rib joint last night drinking some hoppy ale and catching up with a buddy. Topics of discussion were:

    • Red Sox, Pats, Bruins/Rangers & Celtics
    • Guitar scales (major, minor & blues)
    • John Hussman and his dumping of precious metals stocks
    • The rotten, rigged way in which Wall St., enabled by a [choose one or more: passive, stupid, corrupt] government is bankrupting the average American and destroying the middle class.
    • Politics; my friend is psyched about the McClellan book trashing the Bush administration after its unconstitutional war and Wall St. friendly (public unfriendly) policies.
  • Gold-Oil Ratio: Bottoming- Along with the ratios for gold-silver, gold-industrial metals, gold commodity complex and of course Dow-gold, we keep an eye on the all important gold-oil ratio (GOR). A look at a monthly chart shows that the GOR is now down in the area near the ridiculous 2005 bottom. It has been a tough haul for GOR during this latest manic run in oil but this daily chart begs you to listen to its message; a bottom appears to be getting hammered out, and that is very important obviously to the gold miners' margins.
  • US Dollar - Daily View- This USD rally has been pretty stealth and rightly so, as it has been quite unimpressive. The big picture - as represented by the monthly chart I posted earlier this month - is very bearish. But this short term view of the Dollar shows some mixed messages; on the one hand momo indicators show a downturn from normal topping areas and the ROC has a negative divergence. On the other hand the standard STOCH is just turning up into the important 20+ area and the trend by AROON remains positive.
  • $CDNX - Weekly breakout- When I look at this chart I wonder how, given my heavy participation in gold & silver juniors, I have managed to maintain ongoing profitable performance. I must be a better trader than I think I am because the representative TSX Venture exchange is in a cyclical bear market since last summer. Gold, silver and other resources like uranium are being given away since global markets took the first shot of angst last August. Here is the $CDNX sporting a weekly breakout. End of the cyclical bear? No, but a good first step.

  • NDX, Dow, HUI & Oil- Tying up a few loose ends with the following charts:

    NDX does indeed break after filling gap as was speculated upon here. Dow looking unhealthy but could soon bounce. HUI is in a setup to pull back a bit, which would be healthy at this point. Oil gives me the comfort of knowing that things are as they always are; spring follows winter, day follows night and I am wrong on oil. Blow off dynamics appear to be in play.

  • High Performing Gold Stocks-

    http://www.goldworld.com Editor Greg McCoach is a featured guest on BNN's Small Caps. He talks about many high performing gold stocks that are in his portfolio and what he's recommending for his Mining Speculator Readers. More info: GoldWorld.com

  • Congratulations to Otto!- It's beer time! I lost the bet to this very smart dood but I raised a glass of Smuttynose IPA to him none the less last night. Gold hit 900 before 850 and I gladly paid up the beer munny. This was actually a good outcome for both of us given his bullishness and my holding of core positions.
  • Best Gold Stocks-

    http://www.goldworld.com Editor Greg McCoach is a featured guest on BNN's Small Caps, he talks about the best gold stocks to be in right now and why revealing his favorite junior mining picks. For more info visit: http://www.goldworld.com

  • Hussman selling his PM shares- I want to be very careful about using someone as smart as Dr. Hussman as a contrary indicator, but... from this week's Market Comment:
  • Small Caps Investing-

    http://www.goldworld.com editor Greg McCoach is a featured guest on BNN's Small Caps. He talks about investing in small cap stocks specifically those in the precious metals and mining industries

  • Gold-Oil Ratio- A good first step in debunking bogus thinking like "high oil prices are adding to inflation" is for this well hyped commodity to reverse lower while the only real monetary metal, gold, holds its own or continues higher. Inflation is a monetary policy problem. High oil is merely one symptom of the problem. Using the intraday proxy GLD-USO here, we see the potential for gold finally bottoming out vs. oil. Against the Dow, gold still looks to decline in the very short term but that game could end at any time since one of those markets is in a genuine bull and the other is basically just that, bull (Dow-Gold ratio very bearish beyond the short term).
  • Still Alive- Well, it looks like I am still alive in my bet with that smart fundy analyst guy. Gold has been bouncing around between his 900 and my 850 as it appears we have set a nice range for the barbarous relic. My long term target is north of $2400 with even that being just a number that tries to quantify the 1980 inflation adjusted level. Really, I am one of those who cannot see how the US Dollar nor the system it denominates will even survive. So when I look at gold, I see an anchor to value that can keep investors steady and on solid footing as the tide to the polluted and bankrupt seas drifts out further and further, pulling conventional and unquestioning investors along with it.
  • US Dollar - Big Picture for Perspective- Regardless of any near term rallies based on deflationary scares, over-valued foreign currencies or what have you, the US Dollar is sickly in the big picture. It is why I am bullish on gold in the big picture as an American. Now, I am not bullish on any major currency that denominates a nation (or group of nations) that depends on inflation as its primary economic driver. Therefore I am not big picture bullish on any other major currency. I have some Swiss Francs that my wife will be using on a trip to Europe soon, but they were just a tool to keep up with the Euro/USD Forex play. In the big picture it's all garbage in my opinion. None more stinky than the US Dollar. But the big currency picture begs one to be bullish on gold... period.
    		•

    Are You an Expert?

    Are you a financial blogger with the utmost journalistic integrity? Take a look at our expert certification requirements.