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  • Finance 0

    NAV Premiums Of Certain Precious Metal Trusts And Funds – October 5, 2015

    Since the last time I had updated their statistics on September 30, both of the Sprott Precious Metals Trusts lost a little bullion, presumably to redemptions. If they were bullion sales to raise cash, then they have no yet updated the cash levels with it. Sprott Silver declined by 10,800 ounces, and Sprott Gold by about 2,231 ounces. There was a commensurate reduction in shares outstanding. Click on picture to enlarge  ...
    On October 5, 2015 / By
  • Finance 0

    Markets Post Gains – Breakout In Dow And Semiconductor Index

    A fresh day of gains keeps bullish momentum running in healthy action. The Dow was the first index to break past declining resistance established by July – August declining trendline. Volume also climbed to register accumulation. The Semiconductor Index was another to make a move higher. It cleared declining resistance and the 50-day MA. Better still, it was the first key index to return net bullish in technicals. This will help the Nasdaq 100 which is just shy of a test of declining resistance. It too enjoyed a day of bullish accumulation. Technicals are not as bullish, but they are improving. The Russell 2000 had the most ground to ma...
    On October 5, 2015 / By
  • Finance 0

    Recession-Testing Your Portfolio

    There is correlation between economic phases and sector performance. Which funds will best ride the wave? If you subscribe to common wisdom, the late-summer market selloff must have you thinking about the potential for a true recessionary slide. After all, the stock market looked like it had topped out after a stunning six-year run. Many investors and pundits subscribe to the notion that the stock market is a leading indicator of the economy’s direction. True believers assume that certain market sectors will price in improvements some six to nine months before their fundamentals actually perk up. They use these signals to overweight favored...
    On October 5, 2015 / By
  • Finance 0

    EURGBP: Risk Remains Lower Below The 0.7421/42 Zone

    EURGBP: With the cross turning off the 0.7442 level the past week to close slightly higher on rejection candle, further downside pressure is envisaged. It gave up its intra day gains to close flat on Monday leaving risk of further move lower. This view remains valid below the mentioned resistance zone. On the upside, resistance lies at the 0.7400 level where a violation if seen will turn risk towards the 0.7450 level. On further upside, the 0.7500 level comes in as the next upside target followed by the 0.7550 level. Conversely, support lies at the 0.7350 level where a violation will turn focus to the 0.7300 level. A break will expose the 0.7...
    On October 5, 2015 / By
  • Finance 0

    Treasury Sells 3-Month Bills At 0% Yield For First Time Ever

    “Investors” are so desperate to hold on to short-term paper that they paid $100 for a 3-month Treasury-bill at today’s auction. That is a 0% yield – for the first time ever – lower even than the auction right after Lehman’s bankruptcy in Nov 2008. Chart: Bloomberg It is probably safe to say that NIRP next, followed by more negative yields further to the right as the US gradually becomes Europe....
    On October 5, 2015 / By
  • Finance 0

    2 Brand New ETFs You Should Not Overlook

    Stock markets around the world have been on a roller coaster ride over the past few weeks, thanks mainly to global growth worries and monetary policy uncertainty. However, the ETF industry continues to grow. Net inflows into US Exchange Traded Products (ETPs) reached US$127.5 billion in the first eight months of the year, 19% higher compared to the same period last year per ETFGI. More than 200 ETFs have been launched in the US this year so far, taking the total number of products to 1,788 and assets under management to a little over $2 trillion (as of October 5). The industry remains ultra competitive with top 3 providers managing almost 80%...
    On October 5, 2015 / By
  • Finance 0

    S+P 500 Resistance Near By…

    This morning we are seeing some follow through to Friday’s amazing reversal. However there is still some technical damage that was done during August’s sell off and it may take some time to work itself out. Click on picture to enlarge The next closest resistance level is between 1986-1990, these are the levels left behind during the volatile September FOMC statement. I’ve attached a chart of the SPY (S+P 500 etf) to highlight the volume and the price action during that session. This is the likely target now that buyers (short covering) have stepped in to defend the August lows. Overall I am anticipating a breakout to the upside. But I d...
    On October 5, 2015 / By
  • Finance 0

    TPP Deal Struck, Next Hurdle Ratification

    It took nearly eight years, but a dozen countries on both sides of the Pacific Rim, which account for 40% of the world’s GDP reached a trade agreement. Attention will now shift to the ratification process.   Canada may offer the first challenge. National elections will be held October 19. The Conservative Prime Minister Harper has supported the efforts, but his two main rivals are either openly critical (New Democratic Party) or lukewarm (Liberals). The latest polls put the Liberals slightly ahead.   Geographically, there appears to be an East-West split, as one might imagine.  Click on picture to enlarge The US and Japan probably ha...
    On October 5, 2015 / By
  • Finance 0

    U.S. Housing Starts: July 2015 Preview

    Housing starts are expected to total 1.166 million units (seasonally adjusted annual rate) in tomorrow’s update for July, according to The Capital Spectator’s average point forecast for several econometric estimates. The projection represents a slightly lower level of residential construction activity vs. the previous month. In contrast with The Capital Spectator’s average forecast, three estimates based on recent surveys of economists project a gain in housing starts for July vs. June. Here’s a closer look at the numbers, followed by brief definitions of the methodologies behind The Capital Spectator’s forecasts that are used to ca...
    On August 17, 2015 / By
  • Finance 0

    Emerging Markets: Week Ahead Preview – 8/17/2015

    (from my colleague Ilan Solot) With the all the euphoria about the Chinese currency depreciation apparently behind us, we can again focus on other drivers for EM assets. And these are developments in G10, commodity prices and idiosyncratic factors. We don’t expect any barriers for Greece to finalize its bailout, with the German parliament likely to endorse the agreement soon. Markets will continue to debate the timing for the Fed hike, with a September move likely the more negative outcome for EM. Separately, lower oil prices continue to weigh on energy produces, but also contributing to negative sentiment more broadly in EM. Lastly, idio...
    On August 17, 2015 / By