Biotech stocks joined the market sell-off again with all ETFs hit hard.The most volatile XBI was down 4.27% today and 3.55% over 5 days.Technical support is right about here $175.89, next at $170. During the mid-October swoon the XBI hit near $145. YTD the XBI is still up 35%. The FBT still leads the ETF pack,…
This particular batch of sarcasm uses the Commonwealth Club “Week to Week Political Roundtable” event for inspiration. I attended that panel and listened to local journalists hold forth on some newsworthy events. I will address a few of those events below, laden with sarcasm that no one else in the financial sector can deliver. The…
Copper has created a bearish descending triangle over the past few years. This pattern leads to lower prices two-thirds of the time. Copper broke support of late and last week rallied to the underside of the pattern, kissing resistance. Watch ole Doc Copper, this could be a “kiss good-bye” for this important leading indicator….
by Ugo Bardi, Resource Crisis Ladies and gentlemen, first of all, let me say that it is a pleasure and an honor to be addressing this distinguished audience today. I am here as a faculty member of the University of Florence and as a member of the Club of Rome, but let me state right away…
The rank economic cheerleading in the guise of “news” printed by the Wall Street Journal, Reuters and the rest of the financial press never ceases to amaze. But on the heels of Congress’ pathetic capitulation to Wall Street over the weekend you have to wonder if even the robo-writers who compose the headlines are on…
The S&P took another beating as it undercut its 50-day MA. The day finished with confirmed distribution without any clear late day surge by bulls. Tomorrow could offer more of the same, although there is the benefit of Fib retracements on which buyers can lean on. The Nasdaq finished on breakout support. However, today’s candlestick…
“The real owners are the big wealthy business interests that control things and make all the important decisions. Forget the politicians, they’re an irrelevancy. The politicians are put there to give you the idea that you have freedom of choice. You don’t. You have no choice. You have owners. They own you. They own everything….
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I know it sounds weird on a day when gold bugs are being scattered back down Hamburger Hill, but gold (GLD) is still normal by its daily chart. Sorry, but at 2:17 ET on Monday (of Fed week no less) it’s chart is still normal. Indeed, I had been expecting a touch of the lower…
Gianni Kovacevic, the author of “My Electrician Drives a Porsche?” and executive chairman of CopperBank Resources Corp., takes a scientific view of historical, social and environmental trends in energy usage and identifies copper as the common denominator. As global energy usage increases, most of that energy flows through copper. In this interview with The Gold Report,Kovacevic…
