Folks, as you may have heard, there was some good news out of Germany earlier today. Chancellor Angela Merkel approved giving new power to the European bailout fund—what they’re calling the European Financial Stability Facility. It still has to get through parliament, but it’s a baby step. This measure certainly isn’t going to end the [...]
Folks, Chicago Fed President Charles Evans made an appearance on CNBC this morning, and what he said was very interesting. Essentially, Evans told us that he’s nervous about economic recovery, about the lack of job creation and about sluggish housing. Without saying that the Fed is going to continue to force-feed us inflation, he said [...]
Folks, pardon the pun, but gold is melting again. And when I say gold, I mean the front-month futures contract, not ETFs—real gold, not a worthless piece of paper. If you’re still trading commodities ETFs, I implore you to get rid of the garbage and look into the inherent advantages of the futures market. Elliott [...]
Well, folks, how are you enjoying this volatility? I told you at the beginning of the week to expect quite a bit leading up to Jackson Hole today, and that prediction certainly has come true. Today is the day when all the central bankers gather to talk markets and monetary policy. This conference probably used [...]
Folks, what’s going on with gold is just phenomenal. I said yesterday that I was anticipating a correction in the 150 ballpark, down to near that 1750 range, but the way it’s moving now it could go down into the 1600s before it’s done. Take time to analyze this break, because this is the kind [...]
Folks, just as markets making their bottoms can be sloppy, so, too, can markets making their tops. I certainly don’t think that we saw a top for gold, but, as I mentioned before, I did feel that the price was getting a little frothy in that 1850-1900 range. As expected, we’re seeing a corrective selloff. [...]
Folks, as I mentioned on the show this morning, I came across some research from the Investment Company Institute, a company that, among other things, compiles statistics and research on investments and retirement plans. According to their research, people sold about $30 billion in stock mutual funds last week alone. That’s a lot of money, [...]
Folks, prepare yourselves for another week of volatility. Markets historically sleep in a little leading up to Labor Day, and complicating things further is the big financial summit at Jackson Hole on Friday. This conference is huge: Last year, the Fed chair announced his QE2 stimulus plan there, and the markets are already anticipating something [...]