Weekly Futures Recap With Mike 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.

Precious Metal Futures--- The precious metals this week had extreme volatility across the board with gold higher 4 out of the last 5 trading sessions trading up another $5 coming off of session highs on profit taking currently trading at 1,732 an ounce rallying nearly $60 dollars in 5 days as a flight to quality has happened with the stock market falling out of bed this week as investors are flocking into gold as well as the United States treasuries. Gold futures for the December contract are higher than their 20 and 100 day moving average at this point right at a two-week high just after hitting a two month low last Friday as traders pour into the precious metal once again continuing its long-term bull market and short term choppiness while silver futures were also up 4 of the last 5 trading days and at a two-week high today after nearly hitting a two month low last Friday afternoon finishing down about $.95 and is now trading above the 20 day moving average which was 32.11 currently up $.40 today at 32.60 an ounce in a sideways to choppy market and in my opinion I thought silver futures were headed lower due to the fact of slower demand but gold prices continue to push up silver prices at this point in time so I have no recommendation for silver or gold. Copper futures which I have been very bearish in all my previous blogs and still remain very bearish with copper down another 300 points at 344.30 a pound right at two-month lows hitting major support while still trading far below its 20 and 100 day moving average on economic worries overseas curbing demand which is pushing copper prices near support at this point in time. Platinum futures for the January contract are near a two-month low trading at 1, 544 an ounce up around $10 an ounce this morning basically unchanged for the trading week still trading below its 20 day moving average of 1,580 but above its 100 day moving average still stuck in a sideways trend in my opinion I don’t like trading markets that go sideways so wait for a break out occurs before I enter this market on the short or long side. Continue reading "Weekly Futures Recap With Mike Seery" →

OMG the Fiscal Cliff is coming!

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 9th of November.
Suprise, suprise the "Fiscal Cliff" is almost upon us. Is it just me or is the world just bouncing from one crisis to another crisis where nothing gets done?

We have been discussing the "Fiscal Cliff" for well over a year that I can recall, and nothing has been accomplished. Over the pond in Europe, Greece, Spain, Italy and France all have major problems yet not one of these countries has addressed their problems. Politicians first and foremost want to keep their own jobs and are loath to make hard decisions.

I am not sure if the art of kicking the can down the road was perfected here in the US or in Europe, but we certainly now have a bunch of global politicians who are very adept at kicking the can down the road. Continue reading "OMG the Fiscal Cliff is coming!" →

Perched on the Knife's Edge with Jay Taylor

Posted on by admin

The Gold Report: Jay, what investment themes are you focusing on in your newsletter?

Jay Taylor: I focus a lot on the huge credit deflation that the markets are demanding. Debt has become so large that it cannot be serviced with the amount of income available. The so-called solution requires the creation of more debt money. In a fiat currency system, money is debt.

At some point, total debt levels have to be wound down to levels akin to the normal levels of the past when total debt to GDP in the U.S. ranged between 175% and 225%. Following Lehman Brothers it grew to over 360%! These debt levels simply cannot be repaid from current income steams even with zero interest rates. Those debt levels are leading to tension in the banking system that bodes very well for gold because people are starting to lose confidence in the banking system and in the fiat monetary system itself. As long as credit deflation remains intact, it will be a very bullish environment for gold and gold mining stocks. Continue reading "Perched on the Knife's Edge with Jay Taylor" →

Updating the HUI-SPX Ratio

Posted on by The INO.com Team

There were reasons for the mind numbing gold stock correction out of the hysterical events of the 2011 Euro-led meltdown and its aftermath.  Take your pick…

  • Too many lousy gold mining operations not keeping on top of costs and/or execution projections.
  • Too many scammy smaller operations doing little more than issuing stock and telling stories needed to be weeded out.
  • Over bullish sentiment was that this time the gold bug true believers really were going to take Hamburger Hill as Europe’s implosion would be taking down the rest of the civilized world.
  • Highly strategic yet indirect manipulation of the gold miners’ product – a barbarous relic not welcome in an economic discussion by today’s monetary policy setting intellectuals – by a very overt (publicized) manipulation of the Treasury yield curve in Operation Twist.  I will spare you another chart of gold’s correlation to the curve.

There are more reasons, but now is a time for planning for what comes next.  Not crying over spilled nuggets. Continue reading "Updating the HUI-SPX Ratio" →

Congress: Fiscal cliff cuts would mean recession

Posted on by The INO.com Team

Austere "fiscal cliff" tax increases and federal spending cuts set for the end of the year would send the economy back into recession and cause a spike in the jobless rate to 9.1 percent by next fall, congressional budget analysts said Thursday.

The tax and spending changes, which a lame-duck session of Congress will dig into next week, would cut the federal deficit by $503 billion through next September, said the Congressional Budget Office report. But the adjustments also would cause the economy to shrink by 0.5 percent next year.

The report, updating an analysis from last May, comes as a newly re-elected President Barack Obama and Congress seek ways to avert or at least ease possible damage from the scheduled changes. All sides are promising cooperation, but many difficult decisions await and the politics of raising tax revenue and cutting federal benefits programs is exceedingly tricky.

The new study estimates that the nation's gross domestic product would grow by 2.2 percent next year if the Bush-era tax rates were extended and would expand by almost 3 percent if Obama's 2 percentage point payroll tax cut and current jobless benefits for the long-term unemployed are extended. Continue reading "Congress: Fiscal cliff cuts would mean recession" →