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A Position In DUST And Levels To Watch For PM Stocks
(Audio length 00:11:50) David Erfle, Editor of the Junior Miner Junky joins me today to share the reasons why he is taking a short-term position in DUST. We discuss the movements in the USD and US markets plus the upcoming Fed meeting in December. While the DUST position carries a negative outlook for the sector there are regions that we are looking for in certain metals charts that could be great buying opportunities. We also take a look a the Auryn chart as the sell-off today is taking the stock to some interesting levels.... -
Finance 0
What A Gold-Backed Yuan And Cryptocurrencies May Mean For The Dollar
Amongst all the crypto news this, and crypto news that, was a tiny item appearing in the Nikkei Asian Review on September 1st. Reporting from Denpasar, Indonesia, Damon Evans wrote, “China is expected shortly to launch a crude oil futures contract priced in yuan and convertible into gold in what analysts say could be a game-changer for the industry.” Not bitcoin backed, not ethereum backed, g-o-l-d backed. How low tech of the Chinese. For the moment, oil is priced in dollars, whether it’s Brent or West Texas Intermediate. Evans explained, China’s move will allow exporters such as Russia and Iran to circumvent U.S. sanctions by... -
Finance 0
Lowest Volatility Since The 1960s
Single Family Housing Not Available In previous articles, I have been discussing the lack of construction of single family homes which is causing prices to increase. The chart below shows the inventory of single family homes for sale on a seasonally adjusted basis. As you can see, inventory levels are the lowest since 1994. This is a sharp reversal from the early 2000s where inventory skyrocketed. That was an early warning sign that the housing market was in trouble. Part of the reason why houses aren’t being built is zoning laws. That being said, you’d expect the price responses to cause more building. The weak housing starts cause a dra... -
Finance 0
Housing Starts And Home Builder Stocks Diverge
Throughout the bust and the ensuing recovery in residential housing, the performance of homebuilder stocks has closely tracked the trend in Housing Starts and Building Permits. Below, we highlight this relationship by comparing the iShares Home Construction ETF (ITB) to the three-month moving average of Housing Starts and Building Permits. The relationship between the two is so strong that the correlation coefficient between monthly Housing Starts and the closing prices of ITB is 0.89, while the correlation of ITB with Building Permits is even stronger at 0.91. For the sake of reference, a perfect correlation would be a reading of +1. While ... -
Finance 0
Doom Loop Update: VIX ETP ‘Risk’ Remains High
Well it seems at least possible that the VIX will spend the entire session in double-digits – no small feat in the current environment. Overnight, a combination of factors including Catalonia’s refusal to disavow the independence referendum, some shenanigans in Hong Kong, and a throwaway comment about “Minksy moments” from the PBoC’s Zhou Xiaochuan, triggered a bout of risk-off sentiment the scent of which is still lingering like napalm in the morning. Given that we might have finally seen some semblance of fear, this is probably an opportune time to update you on the “doom loop” or, the potential for VIX ETPs to exacerbate a v... -
Finance 0
USD/CAD Battle Lines Drawn Ahead Of Canada CPI
USD/CAD Daily Chart Technical Outlook: USD/CAD has carved out a well-defined monthly opening-range just below the 2012 trendline. We highlighted this slope earlier in the week in our Technical Perspective piece with the outlook weighted to the downside while below this threshold. The immediate focus is on a break of the 1.2415-1.26 range (break lower favored). USD/CAD 240min Notes: A closer look at price action shows the pair trading within the confines of a near-term descending pitchfork formation with Loonie versing sharply off the upper parallel this week. The focus remains weighted to the downside within this formation with the l... -
Finance 0
September 2017 Leading Economic Index Declined
The Conference Board Leading Economic Index (LEI) for the U.S declined this month – and the authors say “Despite September’s decline, the trend in the US LEI remains consistent with continuing solid growth in the US economy for the second half of the year”. Analyst Opinion of the Leading Economic Index Because of the significant backward revisions, I do not trust this index. This is a leading index, and hurricanes should not have any affect. This index is designed to forecast the economy six months in advance. The market (from Bloomberg) expected this index’s value at 0.1 % to 0.3 % (consensus 0.1 %) versus the -... -
Finance 0
3 Top Utility Mutual Funds For Steady Returns
Investors looking for stable current income would do well to consider utility funds. They are used as defensive instruments, which protect investments during a market downturn. This is because the demand for essential services such as those provided by utilities remains unchanged even during difficult times. In recent years, many funds in this category have increased their exposure to emerging markets and unregulated companies. Though this strategy has increased the risk involved, it has also generated higher returns. Below we will share with you 3 top-rated utility mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) as ...
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