The DAX 30 (FXCM: GER30) is bearish below Wednesday’s high of 9129 and given this downtrend, traders will most likely use a correction to 9000 as an opportunity to add to their bearish exposure with stops above 9129. They will most likely target this week’s low of 8696 and on a break to this level, the psychological key level of 8500. However, caution is warranted given that the DAX 30 has lost near to 11.5% of its value over the last 2.5 weeks. This will make it tempting for bearish traders to reduce their exposure. The Japanese government also looks to be ready to intervene in the forex markets, which may lift the USDJPY and equity ...
Technical Outlook: SPX went all the way down to the 1810 level momentarily, and thereby breaking the critical 1812 level. However, immediately right after a WSJ headline came out that OPEC was willing to consider a production cut and that send futures skyrocketing off of their lows – 27 points in less than 20 minutes. As a result, you have a near perfect test of the lows from January, but I would not find comfort in this bounce as it seemed manufactured with a headline that would guarantee an algo-generated buying spree. Instead, for there to be a true bottom and an ideal bounce place for the market, the longs need to get flushed, a...
Financial markets often behave like demanding, spoiled, and fickle children. If they don’t get what they want RIGHT NOW they throw a temper tantrum. That is exactly what bourses are doing around the world. The Dow Average rallied 500 points this week in the hope that my former Berkeley economics professor, Federal Reserve governor Janet Yellen, would suddenly turn into an ultra dove. It was thought that she would totally cave on any interest rate increases for the rest of 2016 at her Wednesday Humphrey-Hawkins testimony in front of a hostile congress. Instead, Janet laid an egg. Risk markets everywhere suffered cardiac arrest. The 500-p...
The USA is turning into the Weimar Republic. On the one hand we have a fervent nationalist and on the other a righteous socialist. Both of them have weird hair and, unlike their German predecessors, are not magnetic orators. But it is still scary to someone bi-cultural. I was raised by parents who had lived through Weimar and the rise of Hitler and always voted for mainstream candidates, even when a neighbor of ours was head of the US Communist Party, and even when changing demographics brought Latinos to what had been a German-Jewish enclave in northern Manhattan. They avoided leftism and jingoism from experience. Viscerally, I am frightened...
TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence. Pure Energy Minerals — all over the Nevada lithium scene, before anyone ever heard of a, “giga-factory” Pure Energy Minerals (TSX-V: PE) / (OTC: HMGLF) / (Frankfurt: AHG1) is the second most advanced Nevada (NV) lithium junior. The Company is advancing its Clayton Valley Project, one of very few brine-based lithium projects outside of South America. In my opinion, the dozen or more juniors owning, controlling, optioning or attempting to earn into prospective lithium-bearing prop...
It is good news for silver investors when significant nominal peaks of the Dow are formed. This is because significant nominal peaks in the price of silver tend to come after significant nominal peaks in the Dow. This has been the case for the last 90 years at least. The two most significant nominal peaks of the Dow were in 1929 and 1973. Silver made a significant peak in 1935, about six years after the Dow’s major peak in 1929. Again, in 1980, silver made a significant peak, about seven years after the Dow’s major peak in 1973. Below is a graphic to illustrate how the 1973 Dow peak was followed by a silver rally that eventually ended in ...
Calamities are of two kinds: misfortune to ourselves, and good fortune to others. – Ambrose Bierce Student debt is increasing at the rate of almost $3000.00 per second; this is stunning considering that education in our system does not even rank in the top 10 globally; we are ranked 18 out of 20. Worse yet, it indicates that colleges are simply forcing young individuals to take on mind-boggling amounts of debt in the hopes of landing a good job when they graduate. Getting a student loan is about as easy as it was to get a loan during the booming housing market cycle and look how that story ended. All you had to do was be able to scra...
Last June, Jeralean Talley, who had been the oldest known living person in the world, passed away in Detroit at the grand old age of 116.That left Susanna Mushatt Jones, also 116, and the second known living person born in the 1800s, to assume the throne. When asked about the secret to her longevity, the sprightly supercentenarian replied that she ate four strips of bacon every morning. She has a sign in her kitchen that reads, “Bacon makes everything better.” Jones’ devotion to bacon may have amused the media, which had only just regaled the consuming masses with the results of a study that found bacon and other processed meats exacted...
The markets have finally cracked and things are about to become a lot more interesting. Today, the price of gold surged more than $60 and silver $0.60 as the markets crumbled. Even though the markets recovered after some TWO-BIT announcement by OPEC stating that they were talking about “Cutting Production” again… I believe the worst is yet to come. It has been quite some time since the gold priced shot up more than 5% in one day. As I stated in past articles and interviews, we will continue to see a lot more days like today. The huge spike in the price of gold sparked a surge in demand. According to the Zerohedge article, Lines Around ...