Gold & Gold Miners are closing in on a major bottom

Posted on by The INO.com Team

“You can’t understand what lays ahead if you don’t understand the past”

            ~  Satellite,  Rise Against  ~

Members of my service as well as long time readers know that I do a lot of analysis based on the past. I am constantly looking at long-term historical price charts and data. As a trader, I am always looking for an edge.

Obviously the keys to long-term success involve proper position sizing, risk management mechanisms, and ultimately leveraging probability. Professional traders are masters of these tenets. These characteristics are what separate successful traders from average traders over the long haul.

Sometimes through my rigorous analysis I come across price charts and oscillators that help put together a picture that helps shape my view of the marketplace. The past few months have been some of the most difficult market conditions that I have seen in some time. Continue reading "Gold & Gold Miners are closing in on a major bottom" →

World stocks drop as worries over Greece intensify

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By COLLEEN BARRY
AP Business Writer

(AP:MILAN) World stock markets dropped Monday as worries intensified over the condition of the eurozone and whether Greece is edging towards leaving the single currency union.

In Athens, Greek party leaders were scheduled to resume talks aimed at forming a government. But as the political wrangling dragged into its second week, markets contemplated the threat that the crisis-stricken country would not meet the terms of its bailout and drop out of the currency club. Continue reading "World stocks drop as worries over Greece intensify" →

Rick Rule's Primer on Contrarian Speculation

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In an interview with Louis James, Rick Rule provides an excellent summary of what contrarian speculation investment is and makes a powerful case that the current metals climate means gold stocks are the play to make.

[If you weren't present at this timely summit, you can still learn the details of Rick's current investment strategy, plus much, much more. Get the actionable advice and economic perspectives and insights of 31 financial luminaries to make sure you don't miss the opportunities ahead.]

Louis James: Ladies and gentlemen, welcome. Thank you very much for tuning in. We are at the Casey Research Summit – the reality check on the recovery of the economy. One of our luminary speakers who is always at our events, Rick Rule, is with us here now. We'd like you to give us the quick tour of your talk today and we'll go from there.

Rick Rule: Sure. My role here wasn't to do economics; that's not what I am. I am a speculator, and so I talked about where we are in the context of where people are with their own portfolios – in particular portfolios that are junior-resource centric – which is what I think most of your audience was interested in. Continue reading "Rick Rule's Primer on Contrarian Speculation" →

Weekly Futures Wrap Up w/Michael Seery

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We’ve asked Michael Seery of SEERYFUTURES.COM an IB of Peregrine Finanial Group 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 Busines, 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 morning were severely pressured by lower stock and commodity prices around the world this week with gold futures leading the way down another $7 dollars an ounce currently trading at 1, 588 down over $60 this week hitting a new five month low with the next major support at 1,528 and if that level is broken you could possibly see gold go all the way back down to the low 1400’s while silver futures started the week at 30.43 down nearly 1.40 for the trading week and trading  down 30 cents at 28.90 with the next major support all the way down to 26.50 which is still over $2 dollars away also hitting a new five month low. As I've been stated in previous blogs am very bearish the commodity sector due to the fact that demand Continue reading "Weekly Futures Wrap Up w/Michael Seery" →

Oil price declines on slower China growth

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By CHRIS KAHN
AP Energy Writer

(AP:NEW YORK) The price of oil fell Friday after reports that China's economy appears to be slowing down.

China, the world's second-largest oil consumer, reported a sharp decline in both investment and industrial production growth in April. A slowdown in China could push oil consumption _ and prices _ lower this year.

Benchmark U.S. crude lost 95 cents to finish at $96.13 in New York. Brent crude, which helps set the price for oil imported into the U.S., lost 47 cents to end at $112.26 per barrel in London.

China's National Bureau of Statistics reported that investment in factory equipment and construction didn't grow as much from January to April as it did in the same period last year. Industrial production rose 9.3 percent in April, compared with a 12 percent increase in March. Continue reading "Oil price declines on slower China growth" →