Category: General

Gold Chart of the Week

Posted on by The INO.com Team

Each week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (November 5th through November 9th)

It was not until the United States Non Farm Payroll Report on Friday that traders had a clear idea concerning the technicals in the Gold Futures. Prior to the report, futures prices saw higher lows each day throughout the week and even traded up and outside of the range before failing miserably all day Friday.

To begin the week, Gold saw a lift after better than expected news from China was reported and was coupled with additional easing measures applied by the Bank of Japan. The light buying continued despite concerns in Europe over Spain and once again Greece.

Once the labor data was released in the United States that showed a better than expected number, there was a strong rally in the US Dollar which ultimately led to the demise of Gold and most other Dollar-based vehicles. The word is that traders saw a better than expected jobs number as a reason for the FED to scale back on their commitment to Quantitative Easing. Additionally, traders are awaiting important newsthis week from not only the United States but also from Europe and a G20 Summit now in session. Continue reading "Gold Chart of the Week" →

Chris Ecclestone Picks Latin American Gold Plays

Posted on by admin

The Gold Report: The Hallgarten website says, "Over the years, the team has successfully picked trends using our macroeconomic underpinnings to guide investors through the treacherous waters of the markets." Could you give us a couple of trends that retail investors could take advantage of?

Chris Ecclestone: The chief trend I see is a change in the nature of this gold market recovery. Production is going to be king. In 2009, cash was king after the economic crash. Now it's production. If a company doesn't have a preliminary economic assessment (PEA), it is going to wallow for a fair while. The main focus is going to be if these companies can become real miners or if they are just going to be forever out there with their project generator models.

"Production is going to be king."

There are a lot more companies on the "For Sale" side then there are companies out there to buy them. A lot of them are going to be left standing alone at the wall. The only companies that are going to get the attention of majors are those that are along the continuum between PEA and production. Continue reading "Chris Ecclestone Picks Latin American Gold Plays" →

Weekly Futures Recap w/Michael Seery

Posted on by The INO.com Team

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

 Currency Futures--- Currency markets today are trading mixed with the Euro currency breaking down 80 points currently trading at 1.2860 causing the U.S dollar to rally sharply by 46 points hitting a fresh six-week high currently trading at 80.56 right near session highs after the Labor Department released the monthly unemployment figures which added 171, 000 new jobs for the month of October with an unemployment rate 7.9%. The Canadian dollar which is been very weak in recent weeks is actually higher today by 25 points trading at 1.0052 and in my opinion is still in a bear market and I do believe will head lower from these levels while the Mexican peso which I have been bearish and wrong so far is up another 50 points 7690 following the U.S stock market today. The Japanese yen has hit a new six-month low down another 70 points at 1.24 with the next major support all the way down to the 120 level still 400 points away and in my opinion I believe that this bear market will continue. The Australian dollar is higher for the 4th consecutive trading session at 1.0357 at a fresh five week high now looking at possibly making new contract highs which were hit mid-September right around 1.0550. TREND: U.S DOLLAR—HIGHER---CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap w/Michael Seery" →

Poll: U.S. economy adds 171K jobs, but the unemployment rate rises

Posted on by The INO.com Team

Which candidate will add more jobs in the next 4 years?

View Results

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U.S. employers added 171,000 jobs in October, and hiring was stronger in August and September than first thought. The solid job growth showed that the economy is strengthening slowly but consistently.

The unemployment rate rose to 7.9 percent from 7.8 percent in September, mainly because more people began looking for work. The government uses a separate survey to calculate the unemployment rate, and it counts people without jobs as unemployed only if they're looking for one.

Friday's report was the last major snapshot of the economy before Tuesday's elections. It's unclear what political effect the report might have. By now, all but a few voters have made up their minds, particularly about the economy, analysts say.

Since July, the economy has created an average of 173,000 jobs a month. That's up from 67,000 a month from April through June. Still, President Barack Obama will face voters with the highest unemployment rate of any incumbent since Franklin Roosevelt.

Please leave a comment below with your thoughts.

Every Success,
Jeremy

U.S. Stocks On a Collision Course with Market History

Posted on by The INO.com Team

The past offers answers about the future; market patterns do repeat themselves

By Elliott Wave International

Next time you look at a clear night sky, keep in mind that what you see is the distant past.

Most stars are so distant that it takes millions of years before the light is visible to us.

Even so, astronomers can learn much about the future of the universe by studying the past.

NASA astronomers announced they can now predict with certainty the next major cosmic event to affect our galaxy, Sun, and solar system: the titanic collision of our Milky Way galaxy with the neighboring Andromeda galaxy.

NASA, May 31, 2012 Continue reading "U.S. Stocks On a Collision Course with Market History" →