Friday, August 10, 2012

Ben Davies – There Is A Massive Buyer In The Gold Market

from KingWorldNews:

Today rising star Ben Davies told King World News that there is a massive buyer in the gold market, and they have been steadily increasing the price level of their bids. So with investors around the world wondering which way gold and silver will break after the long consolidation, today Ben Davies writes exclusively for King World News to answer to that question. This is an absolutely incredible piece that is a must read for all KWN readers globally.

There is a great deal of critical information in this piece. As an example, Davies addressed this key development in the gold market: “We want to state there has been a strong buyer in the gold market these past few months. Also we want to reiterate the buyer in the room is Asian and has been stepping up their buy order, 1545, 1575 now 1600?” Below is the entire piece Ben Davies wrote exclusively for KWN.

August 9 (King World News) – The Precious metals market is trend ready. Gold, on our short and long-term trend indices, is primed for a substantial move. This could be up or down. We will examine both possibilities and which direction we believe has a greater probability of being realised.

Davies continues @

Martin Armstrong – Debt is Money Which Is Why We’re All Going Broke (Part 1)

from FinancialSurvivalNet

Martin Armstrong the legendary cycle investor shared his thoughts on where the world economy is heading, and it ain’t pretty. The good news is that he doesn’t believe that hyperinflation is possible within the US. The bad news is that the current system is spinning out of control and there’s no one watching the store, especially when it comes to the real money supply. Banks and financial institutions use the ever increasing supply of sovereign debt to further inflate the supply of money. And it all comes back to the US, where it faithfully earns interest and further depletes the supply of real wealth. Unfortunately, there’s no solution that any politician who’s concerned about re-election is willing to embrace. So that means that the final collapse is just a not so Black Swan away. It’s either that or another Bretton Woods type conference where world economic leaders meet and cobble together a new monetary system. Martin’s interviews are always compelling and thought provoking and this one is no different.

Click Here to Listen to the Audio


Forget The Fiscal Cliff, Here Comes The Corporate Bond Maturity Wall

from Zero Hedge:

While ZIRP will apparently be with us for the next millennium – or instantly not – the dominant flow from equity funds to bond funds (whether driven by risk-aversion or demographics – or fundamental deflationist views) remains the key technical for both issuance and pricing/demand. Of course, for now, it seems that nothing can break this virtuous circle of reinvesting coupons and principal but as retirees de-boom and spend that income drainage will continue and the next few years show a rather dramatic wall of corporate bond maturities that will need to be refinanced (or paid down). Is it any wonder that corporations are keeping their cash-piles high and not just hose-piping it out to shareholders or M&A?

Read More @ Zero

Raymond James Financial, Inc. (NYSE: RJF)

Raymond James Financial, Inc., through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities in the United States, Canada, and Europe. The company's Private Client Group segment provides securities brokerage services, including the sale of equities, mutual funds, fixed income products and insurance products to their individual clients. Its Capital Markets segment offers securities brokerage, trading, and research services to institutions with a focus on sale of the United States and Canadian equities and fixed income products. The Asset Management segment provides asset management services for individual investment portfolios and mutual funds, trust services and other fee-based asset management programs. Its RJ Bank segment purchases and originates commercial and industrial loans, commercial and residential real estate loans, and consumer loans. The Emerging Markets segment holds interests in joint ventures that operate securities brokerage, investment banking, equity research, and asset management businesses in Latin America, including Argentina, Uruguay, and Brazil. Its Securities Lending segment is involved in borrowing and lending securities from and to other broker-dealers, financial institutions, and other counterparties, primarily as an intermediary. The Proprietary Capital segment engages in principal capital and private equity activities.

To review Raymond's stock, please take a look at the 1-year chart of RJF (Raymond James Financial, Inc.) below with my added notations:

1-year chart of RJF (Raymond James Financial, Inc.)

Over the last (3) months, RJF has been consolidating within a small Rectangle pattern. A Rectangle pattern forms when a stock gets stuck bouncing between a horizontal support and resistance. For RJF, the Rectangle pattern has formed a clear $35 resistance (red) and a $32 support (navy). You will also notice that RJF's $32 support was a resistance level back in October and November.

The Tale of the Tape: RJF has formed a small Rectangle pattern. The possible long positions on the stock would be either on a pullback to $32, or on a break above $35. The ideal short opportunity would be on a break below $32, but a short could also be placed on a rally up to $35.

Ted Butler on the CFTC’s Silver Investigation

… “Perhaps the most amazing thing of all, at least to me, is the glaring fact that even after four years of non-stop public allegations about involvement in the silver manipulation, JPMorgan still remains the big short.” …

by Ted Butler, Silver Doctors:

There has been an explosion of interest and commentary these past few days as a result of a front page story in Monday’s edition of the influential Financial Times (of London). The story stated that the CFTC was set to drop its four year investigation into alleged silver price manipulation due to insufficient evidence to bring charges, according to three unnamed sources. I went to sleep Sunday evening when the story first appeared prepared to wake up to similar and confirming stories in other publications. Instead, there were no other stories confirming the case was set to be dropped; only strong statements that the FT was story was “premature” and “inaccurate in many respects” by a named source, Commissioner Bart Chilton of the agency.

The CFTC’s silver investigation is a hot button issue and the FT story, as well as Commissioner Chilton’s response to it, set off an outpouring of emotion and conjecture in the precious metals world. And for good reason, as this is an extremely important issue. There can be no greater concern than whether a market is manipulated in price.

The issue of a silver manipulation is also a divisive matter, even within the CFTC itself; otherwise there likely wouldn’t have been leaks that the investigation was over and the immediate response of not so fast. As is usually the case with extremely divisive issues (like politics and elections), emotions take hold and the real issues can get distorted.

Read More @ Silver Doctors

Euro Gold Hinting at Upside Breakout / By Dan Norcini /

US centered investors/traders more often than not develop a US Dollar-centric view of the price of commodities, gold included. As such we oftentimes can miss how a large portion of the global investment community can be viewing the price action of an individual asset.

It is no secret that the current epicenter for global economic troubles is Europe. Sovereign debt woes and squabbles among the various members of the EU have led to a sort of impasse which is sapping confidence from investors in that corner of the world.

The result has been a significant amount of gold buying as a safe haven among Europeans.