In watching the CNBC Republican Debates last night one can only come to one conclusion. George Bush trashed the Republican Party and the trash cleanup crew (tea baggers) are running around throwing nuts to the people. This is a very…Continue Reading →
The trade that is the darling of the big guys, long gold/short euro is being pushed to a breakaway point as the news flow in spite of solid political moves in Europe this week is being pushed as a Euro credit…Continue Reading →
Gold in both Dollar and Euro terms is completing a maximum 61.8 percent Fibonacci retracement. Fibonacci numbers are used by market technicians to measure how much a market bounces either up or down after a major move. For me this…Continue Reading →
It seems Bernanke agrees with our comments yesterday. What if we are both wrong. Today’s action in gold cause me to ponder the following: 1) What if the Greeks have a referendum and tell everybody to take a hike? 2)…Continue Reading →
I picked this number out of you know where. The point is the media seems to gravitate to whoever is the most excited at the extremes 1070 and 1270. You would think, depending on the day, the world was either ending…Continue Reading →
Yesterday’s buying in gold, stocks, and Euro all at the same time is not healthy for anyone but traders. This just confirms that our recent comments about the rest of the year being a price distribution period is on target. …Continue Reading →
We have talked little about the European situation over the past few months other than the fact that long-term they are going towards a solution that will preserve the Euro and acknowledge balance sheet write-downs for both banks and countries…Continue Reading →
The rally from 1074 to 1233 on the S&P 500 was a piece of cake. Now the hard part is facing all of us. The market appears to want to move into the bigger range that includes runs to the…Continue Reading →
I am back from a few vacation days. The stock market rally had more legs than I anticipated for this early in the cycle, but that was good for the investor accounts in which we retained our long positions. Trader…Continue Reading →
Mistakes is the answer. We saw the mistakes Hoover made before 1929. We saw how the Clinton Administration and CNBC pundits talked up the heady atmosphere prior to the Tech Bubble in 1999. We saw how the Bush Administration and…Continue Reading →