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Archives by Year:
Gold The Pending Question
Gold Room Fort Knox QUESTION: Martin, With your recent comments on gold; you seem to be implicitly suggesting people to sell their gold, since there is a good chance for it to bottom-out at a sub-$1000 level. Wouldn’t it make far more sense to hold onto it at least till November? 1) We don’t know for […]
Some Daily Charts
SPX is at its MA 200. Time to bounce to keep this unpleasant chart from becoming ugly like the Dow. Dow is around a short-term trend line but below lateral support. It can bounce but this has technical damage. Uncle Buck was down yesterday as well as the Euro popped (short covering?). Unc […]
Dollar-Bloc Corrects Higher, GDP Underpins GBP
The US dollar is mixed. It is recouping some of yesterday’s losses against the euro and yen but is heavier against the other major currencies. Short-covering in the dollar-bloc that began yesterday has been extended, and sterling was aided by the 0.7% preliminary increase in Q2 GDP. The rout in Chinese equities continued. Although trading was […]
Will Fed Hint At Rate Increase At Wednesday Meeting
The big question hanging in the air this week is whether or not the Fed will officially schedule a date for the interest rate increase which it has been predicting for the last few months. The Fed meets on Wednesday and although the central bank will probably hold policy steady and no definite announcement of […]
US Session Bullet Report – USD On The Back Foot, Gold Looking Weak
It was a volatile session so far, which was mainly driven from the Chinese stock meltdown. Another day, another 8, 5% drop in shanghai making this one of the biggest daily drops ever. EURUSD spiked higher until 1.1112 (two week high) however the rally was contained within its descending channel. EURUSD boost is attributed to […]
Twenty Enduring Posts
Photo Credit: Kat N.L.M. This morning, I looked at the fall in the Chinese stock market, and I said to myself, “It’s been a long journey since the last crash.” After that, I wrote a brief piece at RealMoney, and another at what was then the new Aleph Blog, which was republished and promoted […]
Wall Street Still Didn’t Get The Memo – China’s Done, Tops In!
Bubblevision’s Scott Wapner nearly split a neck vessel today denouncing the US stock market sell-off. It was completely unwarranted, he thundered, because China don’t have nothin’ to do with anything. Why, insisted CNBC’s best dressed pom-pom boy, China’s stock market has never been correlated with its economy, and, anyhow, its economy doesn’t matter all that much to the S&P 500 because China accounts for only […]
Gold Remains Range-Bound Ahead Of Fed
The market started the week on the back foot but remained well within the consolidation that we have seen for the past four sessions. Gold prices fell $6.19 an ounce yesterday as the prospect of a September rate hike by the Federal Reserve continued to depress the demand for the precious metal. In the latest […]
A Bright Spot Amongst The Chaos In China
Conditions in China appear to be going from bad to worse. On Monday, another bloodbath ensued in Chinese stocks. The Shanghai Composite Index nosedived 8.5% – the largest single-day decline in eight years. For every stock that rallied, 75 plummeted. So much for all those government stimulus measures! I’m afraid the latest news on the economic front […]
Commodities Carnage Will Hurt These 10 States Most
As we’ve seen in Louisiana and West Virginia, the commodities downturn has had a real impact on state budgets. Back in April for example, we explained how a sharp decline in oil tax revenue helped push LSU to the brink of bankruptcy and in West Virginia, the impact of falling coal prices has put significant pressure on the state’s […]
