Finance
Oil Attempts To Form Intermediate-Term Low
by Erik McCurdy Oil has experienced a true market crash, declining 47 percent following the peak in June. However, the downtrend is declining at an unsustainable rate and the market has become extremely oversold across intermediate-term and short-term time frames. As a result, the decline will almost certainly be followed by a violent oversold reaction,…
Markets Turn Quiet, Consolidate
The US dollar’s gains scored yesterday in the wake of a strong upward revision in Q3 GDP to 5% have been pared slightly today in extremely thin market conditions. The euro was sold to a new 28-month low (~$1.2165) yesterday and is struggling to re-establish a foothold above $1.22. Encouraged by the US GDP, the backing…
Gold For Closing 2014
Well despite all the hate mail, accusations, threats, and bad-mouthing not to mention the silent-treatment, gold continues to reflect the real deflationary trend that has engulfed the entire world. The metals promoters keep trying to ignore reality causing many to lose their life-savings. They remain ignorant of the fact that the dollar has become…
Bear Of The Day: Macquarie
For today’s Bear of the Day I wanted to do something different. Rather than find a company with a poor Zacks Rank that’s been beaten down, I thought I would experiment a bit. Today I ran a screen with the same criteria I use to find great momentum stocks, only I flipped it on its…
Japanese Stocks, Dollar Up
Japanese stocks rallied and the dollar stood tall on Wednesday thanks to surprisingly robust U.S. economic growth, helping investors head into the Christmas holidays in a more relaxed mood after the global markets turbulence of the past two weeks. Risk appetite got a helping hand from revised data showing the U.S. economy grew at a 5.0…
50 Numbers From 2014 That Sound Fake But That Are Actually Real
2014 was quite a bizarre year, wasn’t it? The past 12 months brought us MH370, Ebola, civil war in Ukraine, civil unrest in Ferguson, the rise of ISIS and the fall of the Democrats in the midterm elections. Our world is becoming crazier and more unstable with each passing day, and I have a feeling…
I Call BS On Projections Of A Decade Of $20/Barrel Oil
The ability of oil exporters to trigger a short-term collapse in price does not automatically translate into an ability to control the financial conflagration such a crash ignites. My BS detector went off when two stories with similar headlines touting $20/barrel oil were published on the same day. Color me skeptical, but it’s almost as if…
2009 Is Back, And So Is The “Risk-Free” Contango Trad
In many ways what is going on in late 2014 is a carbon copy of events in early 2009: back then the market was melting down every single day. Now, it is also melting, only in reverse. Back then the the interest rate was 0%, as it is now 6 years later (only with $3…
Rieder: Clooney emerges as hero in Sony mess
In a Hollywood saga that has a severe shortage of heroes, George Clooney has covered himself with distinction. While theater owners and then Sony Pictures Entertainment cravenly buckled to terrorist threats and some news outlets reveled in the gossipy e-mails made public by the Sony hackers, the superstar actor tried valiantly to rally Hollywood to…