Daily Video Update: New week, same old problems

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 16th of July.

As we start this new trading week, we still have a myriad of problems that haven't gone away. This morning, Citi Bank announced their earnings for the second quarter. Earnings exceeded expectations, but fell short on revenue.

Technically, the banks are locked in a broad trading range and we are at the upper levels of that range at the moment.

Disappointing retail sales this morning underscore the still fragile psyche of the American consumer. Consumers continue to struggle with the uncertainty of the upcoming elections. At the same time, the world economy continues to muddle through fiscal austerity that is going to infect Europe and the markets for sometime to come. Continue reading "Daily Video Update: New week, same old problems" →

Where's The Regulation? - Part 2

Posted on by The INO.com Team

Last week, I ranted about regulation and the folks who regulate. This week, I would like to follow up on that rant.

As many of you may know by now, PFG founder and CEO Russell Wasendorf Sr. was arrested last Friday. He admitted to making false statements to the Commodity Futures Trading Commission relating to the value of customers segregated funds at PFG. He even said, "I have committed fraud".

According to his own attempted suicide note, he's been embezzling money from the company for the past 20 years. He also stated that all the bank accounts came to him directly, and that it was easy for him to forge those bank statements over that time. Continue reading "Where's The Regulation? - Part 2" →

Morning Commentary for the Indexes

Posted on by The INO.com Team

The September NASDAQ 100 was lower overnight as it consolidates below broken support marked by the 20-day moving average. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If September extends this month's decline, the reaction low crossing at 2503.50 is the next downside target. Closes above the 10-day moving average crossing at 2593.85 are needed to confirm that a short-term top has been posted. Continue reading "Morning Commentary for the Indexes" →

Does Central-Bank Gold-Buying Signal the Top Is Near?

Posted on by The INO.com Team

By Jeff Clark, Casey Research

Doug Casey told me in January, "The only thing that scares me is that central banks are buying a lot of gold; they're historically contrary indicators." When it comes to buying gold, central banks have such a poor timing record that they're frequently joked about as a contrary indicator. Continue reading "Does Central-Bank Gold-Buying Signal the Top Is Near?" →

Deflation or Inflation?

Posted on by The INO.com Team

John Mauldin, International Man

I am frequently asked in meetings or after a speech whether I think we will have inflation or deflation. "Yes," I readily reply, trying hard not to smirk, as the questioner tries to digest the answer. And while my answer is flippant, it's also the truth, as I do expect both outcomes. Following the obligatory chuckle from the rest of the group comes a follow-up request for a few more specifics. And they are that I expect we will first see deflation and then inflation, but the key is the timing. Continue reading "Deflation or Inflation?" →