TGR: Jason, you recently told your Gold Stock Bull readers that you had sold some equities. What were your reasons for selling?
Jason Hamlin: At the time, we were nearly fully allocated and decided to move to a position of roughly 20% cash. Even though this is a high seasonal period for precious metals, we sold a couple of underperformers to take advantage of any potential year-end selloff driven by concerns about the fiscal cliff and its impact on economic growth. There are also year-end opportunities for tax-loss selling and we want to have some dry powder for bargains that may materialize over the next few months in quality resource stocks.
TGR: Do you believe investors should reduce risk and take a more conservative approach until we know what are the repercussions of the fiscal cliff? Continue reading "Pent-Up Potential for Precious Metals in 2013: Jason Hamlin"
Hello traders everywhere, Adam Hewison here, co-founder of MarketClub with a mid-day up-date for Wednesday the 28th of November.
THE FISCAL CLIFF QUASHES CONSUMER CONFIDENCE!
Consumer confidence, which jumped to its best levels in four and a half years, is taking a back seat today to the "Fiscal Cliff", which is like the 800LB gorilla in the room. Depending what the politicians do and don't do, which is a non-predictable item at the moment, the "Fiscal Cliff" is going to be the Yin and Yang of the financial markets for the next several months. I would not hold my breath waiting for politicians to make a decision quickly on the "Fiscal Cliff" as both parties are being held hostage by their own parties' far right and far left wings.
THE FISCAL CLIFF AND THE EQUITIES MARKETS
Based on our Trade Triangle technology, we still believe that the trend is negative for the equity markets. We expect to see the equity markets trade sideways before taking another downturn. Everything is going to be predicated on the "Fiscal Cliff". Continue reading "The Yin and Yang of the "FISCAL CLIFF""
Everyone who pays income tax _ and some who don't _will feel it.
So will doctors who accept Medicare, people who get unemployment aid, defense contractors, air traffic controllers, national park rangers and companies that do research and development.
The package of tax increases and spending cuts known as the "fiscal cliff" takes effect in January unless Congress passes a budget deal by then. The economy would be hit so hard that it would likely sink into recession in the first half of 2013, economists say. Continue reading "Most in U.S. won't be able to escape 'fiscal cliff'"