China and India have always been crazy for gold, and the yellow metal remains the choice store of value in those two countries, says Don Coxe, a strategic advisor to the BMO Financial Group. In an exclusive interview with The Gold Report, Coxe explains how demographic shifts are affecting the price of gold and delves into the logic of investing in gold as a long-term strategy. Coxe also draws an important lesson in economics from his reading of Lenin. Continue reading "Don Coxe Recommends Investors Read Lenin to Understand the Markets"
Category: General
Stocks rise slightly after weak jobs report
The stock market followed one of its most exciting days of the year with a rather dull one Friday. Indexes barely rose following a weak jobs report, which increased hopes that the Federal Reserve would act next week to support the economy.
The gains, while meager, kept major market indexes at their highest levels in more than four years following a massive surge the day before.
The Dow Jones industrial average rose 14.64 points to close at 13,306.64. The Standard & Poor's 500 was up 5.80 points to 1,437.92. The Nasdaq composite barely moved, up 0.61 points at 3,136.42. Continue reading "Stocks rise slightly after weak jobs report"
Chart to Watch - Wheat
We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of Wheat (ZW.Z12.E)
I hope you had a GREAT week !! Wheat made a strong bull swing in June and July and has since been in a sideways consolidation.
The consolidation looks to be forming a classic Head and Shoulders base pattern and if Wheat trades higher from here that would be a breakout of the neckline. Continue reading "Chart to Watch - Wheat"
The Gold & Silver Speculator
The Gold & Silver markets continue to take giant leaps forward as the calendar heats up early September. After 3 consecutive weeks of solid performance to the upside, Gold rests just shy of $1700 while Silver marks time near $32.25.
Major short covering and new momentum buying before/during/and after the Jackson Hole Symposium has been fueling their moves higher. As elated as the Bulls are, there is danger on the edge of town.(The End, The Doors) Look out for Weird Scenes Inside The Gold Mine.
A potentially massive macro event risk loom large in the form of “Super Mario’s” ECB Decision tomorrow and next week’s FOMC Meeting. The current paths of least resistance for these Heavy Metals. Hard Currencies are up but face enormous near-term obstacles should either meeting disappoint/fail to satisfy. We could very well be in an environment where these event risks could trigger enormous moves in either direction. Be prepared. Continue reading "The Gold & Silver Speculator"
Morning Energy Market Commentary
October crude oil was higher overnight as it extends the trading range of the past three weeks below the 62% retracement level of this year's decline crossing at 98.27. Stochastics and the RSI remain bearish signaling that October crude oil might be correcting more in time than price. Closes below the reaction low crossing at 93.95 would confirm that a short-term top has been posted while opening the door for additional weakness. If October renews the rally off June's low, the 75% retracement level of this year's decline crossing at 102.50 is the next upside target. First resistance is the 62% retracement level of this year's decline crossing at 98.22. Second resistance is the 75% retracement level of this year's decline crossing at 102.50. First support is the reaction low crossing at 93.95. Second support is the reaction low crossing at 91.97. Continue reading "Morning Energy Market Commentary"
