Precious metals expert Michael Ballanger compares the Dec. 1, 2015 Gold COT Report with the latest one; the contrasts could not be greater.
I have a question: "Does ANYONE have the foggiest recollection of just how incredibly bullish the Gold COT (Commitment of Traders) Report structure was back on Dec. 1, 2015?" Continue reading "Remembering Gold's Bullish Set-Up on Dec. 1, 2015"
The National Oceanic and Atmospheric Administration's (NOAA) Climate Predict Center (CPC) is forecasting a continuation of a major heat wave this week ending July 30th. Nearly every single state is predicted to experience higher than normal temperatures. In some states, such as Washington and Oregon, cooling degree days (CDDs) are forecast to be more than double their normal levels. However, in the two states that burn the most natural gas at power plants, Texas and Florida, the heightened temperatures will be more muted.
Based on NOAA's state-by-state cooling degree day forecast, weighted by natural gas-weighted electricity production, I estimate that CDDs will be 30% higher than normal and 12% higher than in the same week last year.
For the year-to-date, cumulative CDDs are 22% higher than normal but the same as than during the year-to-date in 2015. Continue reading "Heat Wave To Cut Natural Gas Storage Glut"
How did you do the second quarter? Did you make money or did you lose money?
Well, I'm happy to report that the Internet Portfolio put in a very good performance in a very flat market. The portfolio showed a return of 5.67% which I think you'll agree is an excellent return for Q2.
The Internet Portfolio is comprised of the following five stocks: Continue reading "Here's A Good Way To Begin The Week"
A little more than a week ago, China released its data for second quarter GDP growth alongside other important data sets that, entwined, give us a glimpse into the health of the world’s second largest economy and a framework for FX strategy in the Asian space.
China’s second quarter GDP growth hit 6.7% for the second quarter year-on-year, the same growth rate as the first quarter and moderately higher than the 6.6% called for in Reuters’ consensus poll. The major contributor to GDP growth was consumption, a rather positive sign that consumers are becoming a more prominent engine in the Chinese economy. This was further enforced when China’s retail sales posted growth of 10.6% in June compared to 10.0% in May.
But on the flip side, there were some negative signs as well, and plenty of them. GDP growth was, indeed, driven by consumption but the growth in the services sector, or the tertiary industry as it is referred to, was 7.6% Year on Year. That is simply not enough to accommodate China’s weakness in manufacturing and not exactly in line with China’s growth plans. Continue reading "China Recap: The Good And The Bad"
Hello MarketClub members everywhere. As we wrap up the week Stocks are heading slightly higher today and looking to close out the week on a high note. The rally has been led by the telecom sector. AT&T Inc. (NYSE:T) was up 1.5 percent after its earnings results. Verizon Communications Inc. (NYSE:VZ) rose 1 percent as news broke that Verizon is the front-runner for Yahoo's core business after outbidding others including AT&T. Conversely Yahoo! Inc (NASDAQ:YHOO) was up 1 percent as well.
Looking ahead to next week the question is, what will the Fed do? All signs point to The U.S. Federal Reserve keeping interest rates on hold Wednesday, but investors will be looking for hints about the Feds next move.
The next move is still seen as an increase in rates. But even as concerns over Brexit ease the U.S. election is drawing closer, likely pushing back action towards the end of the year and possibly limiting the Fed to a single hike in 2016, a far cry from its early-year estimate for four moves.
Key levels to watch this week: Continue reading "Stocks Edge Higher On Mixed Earnings"
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