How about gold, folks!? When we dipped down around 1520 I called it a bear trap, and I warned people not to get caught in short positions. Now, over the last four days, we’ve seen gold bounce up around $90. Incredible! As a long-term gold bull, I was very eager to take advantage of that [...]
Once again, gold is the big story. We’re seeing a fairly dramatic end-of-year liquidation, and it’s retraced so much that we’re almost entering bear market territory. I’m calling this the beginning of a bear trap: the trend followers are no longer getting long and are starting to get short—which in my mind is a buying [...]
Many of the lessons that I learned in trading the markets were learned from my old mentor, Bing Sun, who went from being a boy genius to an academic at Harvard to running the multi-billion-dollar Harvard Endowment Fund. After he left the fund, I became his assistant on the floor at the CME. Spending hours [...]
As I write this, the March gold contract is trading around 1607, down more than 3% on the day. This downward pressure is coming from central bankers who need to raise money by the end of the year but can’t sell off their debt (bonds)—and all they have left that’s liquid is gold. I’m bullish [...]
Folks, I’m making my way back to Chicago today after taking part in yesterday’s Biz 880 Miami Money Expo. Big thanks to Bull & Bear Institute, Currensee, Daniel “The MoneyMan” Frishberg, Charles Schwab and everyone who came out for making the event a rousing success. All the presentations and breakout sessions on stocks, futures, real [...]
Well, folks, we had a nice firm opening this morning after yesterday’s Greek-inspired selloff, and it feels like at least some of the fear may be behind us. The bounce today is important—it will tell us whether we’ve weathered the storm. Don’t read too much into it unless it continues into the afternoon, because this [...]
Folks, there is global selloff taking place, and I have to tell you, this one caught me by surprise. I’m usually the one waiting for that thing that comes out of left field, but I definitely didn’t expect this. Right now, it’s looking like all bets might be off for that year-end melt-up scenario I’ve [...]
Well folks, Jon Corzine, former New Jersey governor and head of MF Global, made what in our world is called a bad trade. He bought the PIIGS and sold France against it, essentially doing to Man what he did to the Garden State. Only this time, there is no Chris Christie to come to the [...]
Well, folks, we didn’t quite make that 500-point gain in the Dow yesterday, but we did see one of the biggest moves in equities in quite a while thanks to that perfect storm of events, capping off what appears will be a very, very big month. I was looking at some numbers, and if we [...]
Folks, I’ve been saying for weeks now that the market has been mispriced, and as more and more earnings reports surface, we’re seeing the proof in the pudding. Look at Ford. Boeing. These are hot numbers coming out at a time when a lot of people were concerned we were going to see a slowdown. [...]