Stocks took a further beating today, and a heaping helping of that was in the direction of commodity trader Glencore thanks to a bit of sell side analysis. Can you imagine if the Fed had raised rates last week and the market was selling off like this? And I think it would have because this market is…
Caterpillar (CAT), the maker of big yellow earth-moving equipment, just announced another round of layoffs. This time 10,000 people will get the axe, which is no surprise since the company has posted falling earnings for four straight years. It’s also no surprise considering more than half of Caterpillar’s revenue comes from overseas. While their U.S. business…
For smart investors watching the gold-Dow ratio rather than mainstream media headlines, this is an exciting time to be a precious metals investor. The world seems to be conspiring to push the price of gold higher, with continued zero interest rates, Chinese stock market volatility and more unrest in the Middle East. In this interview…
Just because… The epicenter of today’s earthquake was Biotech and Corporate Bonds… Biotechs were bloodbath’d – IBB dropped almost 8% today alone – the biggest drop since August 2011 – testing back to Black Monday lows and now unchanged since October 2014… This is the longest losing streak for Biotechs since Lehman Investors should not worry though……
Third China devaluation, EURUSD in dilemma A third China devaluation took place today but this time it came to no one’s surprise. On Tuesday the CNY was devalued by 1.9%, on Wednesday a further -1.6% and today -1.1%. This sent shockwaves across stock markets as now Chinese will find it more expensive to import goods….
The gold promoters are trying to claim that China is understating its gold reserves because it is trying to confuse the markets about their clear ambitions to make the yuan a world reserve currency to challenge the hegemony of the U.S. dollar. The rally in gold was technical and a closing above 1109 should spark a rally…
Fixing the Economists Article of the Week by Philip Pilkington The following is an article that I wrote for a newspaper and was never published: In a recent interview with The Guardian Ed Miliband summoned up the ghost of the post-war prime minister and Labour Party icon Clement Atlee to support his recent austerity push within…
Things continue to line up in textbook fashion for a major financial crisis by the end of 2015. This week, Wall Street has been buzzing about the first “death cross” that we have seen for the Dow since 2011. When the 50-day moving average moves below the 200-day moving average, that is a very important psychological…
China’s devaluation is an effort to stimulate an economy that is growing less rapidly than its potential. China is not in recession—probably—but its growth rate has certainly slowed. The devaluation will help, but don’t expect any immediate miracles. The official statement from the People’s Bank of China reads like something Alan Greenspan might have written. The gist…
Say, do you want to see what short covering into a market close looks like? It looks like this… It was fairly hilarious watching the streaming quote screen start blinking green lights like crazy into the final few minutes.
