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  • Finance 0

    Gold Demand Falling, Report 15 May, 2016

    The price of gold moved down about sixteen bucks, while that of silver dropped about three dimes. In other words, the dollar gained 0.3 milligrams of gold and 0.04 grams of silver. We continue to read stories of the “loss of confidence in central banks.” We may not know the last detail of what that will look like—when it occurs one day. However, we will wager an ounce of fine gold against a soggy dollar bill that it will not look like today with the market bidding dollars higher. Loss of confidence is just a meme used by gold bettors. What are they using to make their bets? Dollars. What are they trying to win? More of the dollars they...
    On May 16, 2016 / By
  • Finance 0

    Today’s Trading Plan: Head And Shoulders Ready

    My Trades: Added one additional short position to the portfolio on Friday.  Did not sell or cover any positions on Friday. Currently 20% Short / 80% Cash. Remain short: IWM at $111.29 and one other position. Will look to add to my shorts if the market can continue breaking down.  Chart for SPX:...
    On May 16, 2016 / By
  • Finance 0

    FTSE 100: Price Turns Sluggish

    The FTSE 100 (CFD: UK100) had risen slightly from Friday evening’s levels as trading resumed following the weekend. However, looking beyond today’s higher prices, the FTSE 100 remained trapped in 6054 to 6195 range. The 6054 level is the May 6 low, while the May 12 high is the 6195 level. As price is trading sideways, neither bullish nor bearish traders have strong control over price and it is common for price to keep on trading sideways and for the range to narrow further until a break to the range occurs. While this may be uninspiring for trend traders, however, when price finally does breach its range, it may be the start of a new tren...
    On May 16, 2016 / By
  • Finance 0

    Two More US Energy Companies Go Bankrupt: Breitburn, Sandridge File Chapter 11

    Just days after the latest two shale casualties filed for bankruptcy protection when both Linn Energy and Penn Virginia announced prepackaged Chapter 11, moments ago Sandridge (SDOC) announced it too was entering bankruptcy court when it filed a voluntarily petition under Chapter 11 in U.S. Bankruptcy Court for Southern District of Texas to consummate a pre-arranged reorganization. This follows just hours after Breitburn Energy Partners (BBEP) announced it had filed Chapter 11 as it hopes to negotiate a restructuring of its balance sheet in court, continuing talks with creditors that began a month ago, CEO Hal Washburn said in a release. Co...
    On May 16, 2016 / By
  • Finance 0

    Forex Week In Review – 5/16/2016

    Last week was better for the world’s major markets with only the US markets slipping. In Europe over the course of the week, the FTSE was up by 0.21%, it closed at 6138.5; the Dax ended at 9952.9, up by 0.84% on last week’s close; the CAC was up by 0.44% to end the session at 4320. The Dow (DIA) ended the week down by 1.2% to close at 17535. The Nasdaq Composite Index (QQQ) ended down by 0.39% over the course of the week at 4717.7. The Nikkei 225 ended the week’s trading up by 1.9% to end the session at 16412. Currency markets review On the currency markets last week the Dollar enjoyed the best of the trading. The Dollar was stronger ag...
    On May 16, 2016 / By
  • Finance 0

    MVC Capital Announces Results For Fiscal Fourth Quarter 2015, Fiscal Year 2015 And Fiscal First Quarter 2016

    PURCHASE, N.Y., May 16, 2016 (GLOBE NEWSWIRE) — MVC Capital, Inc. (NYSE:MVC), a publicly traded business development company that makes private debt and equity investments, today announced its financial results for the fiscal fourth quarter and fiscal year ended October 31, 2015 and the fiscal first quarter ended January 31, 2016. Recent Highlights Up to date on financial statement filings Earned interest income of $5.0 million in the first quarter of 2016, compared to $4.3 million for the first quarter of 2015; interest income of $5.5 million for the fourth quarter of 2015, compared to $3.5 million in the fourth quarter of 2014 Complet...
    On May 16, 2016 / By
  • Finance 0

    Crude Oil Prices Rise As Chinese Stocks Ignore Soft Economic Data

    Talking Points: Gold prices remain range-bound as markets await US CPI figures Crude oil prices probe upward as risk trends shrug off China data Corrective and pre-positioning flows set to define near-term trade Crude oil prices are on the upswing to start the trading week as markets shrug off initial negativity in the wake of soft data from China reported over the weekend. The WTI contract was off to a quiet start initially as Asian markets came online but upward momentum swelled alongside a strong push higher from Hong Kong and Shanghai shares at the opening bell. Meanwhile, gold prices may find a near-term lead amid pre-positioning...
    On May 16, 2016 / By
  • Finance 0

    Range Resources To Buy Memorial Resource For $4.4b

    Range Resources (RRC) and Memorial Resource (MRD) announced a definitive merger agreement under which Range will acquire all of the outstanding shares of common stock of MRD in an all-stock transaction valued at $4.4B. This valuation includes the assumption of MRD’s net debt, which was $1.1B as of March 31, 2016. Under the definitive agreement, MRD shareholders will receive 0.375 shares of Range common stock for each share of MRD common stock held. Based on the Range closing price on May 13, 2016, the transaction has an implied value to MRD shareholders of $15.75 per share, representing a 17% premium to the closing price of MRD stock. F...
    On May 16, 2016 / By
  • Finance 0

    Apple Jumps After Berkshire Reveals 9.8 Million Share Stake

    After three consecutive weeks of seemingly relentless bad news for Apple, moments ago the stock jumped by $2 dollars, rising from $90.5 to over $92.50. There was some confusion as to why the jump and then it was revealed that none other than that “other” billionaire, Warren Buffett, has decided to start building a stake in the world’s biggest cell phone company to the tune of 9.8 million shares or about $1.07 billion as of March 31. Making some more sense of the transaction, CNBC adds this was not a direct Buffett purchase – who has previously announced he “does notunderstand tech” – but one made by o...
    On May 16, 2016 / By
  • Finance 0

    IMF Voices Concerns On Brexit Implications

    In case the UK will vote to exit the European Union during the upcoming referendum, there will be very bad repercussions according to the International Monetary Fund’s (IMF) managing director Christine Lagarde. During her presentation of IMF’s report on Britain’s economy on Friday, she said that she can’t see any benefits if Brexit goes ahead and that the UK might be driven to recession. The IMF within a report on the UK economy, also released on Friday, said that it has always not been right for Britain to exit the EU and hence a vote to leave the EU might have adverse effects not only on a national level but also regionally and even...
    On May 16, 2016 / By