[Ed. Note:
If you go back in time far enough, way way way back, a Pound Sterling
was an actual troy pound of sterling silver, meaning 12 troy ounces of
sterling silver. Since a troy ounce of sterling costs £12.52 today,
that puts the price of a troy pound of sterling silver at over £150
Pound Sterling. When, exactly, do we decide that it doesn't require a
genius-level IQ to conclude that the pound sterling will be further
devalued? £200? £300? £500? At what point do we simply recognize that
they're willing to devalue this thing? In other news, the sun will most
likely rise tomorrow morning.]
by Philip Aldrick, Economics Editor Telegraph.co.uk
Growth
in Britain is going to remain “challenged” for the next three to five
years as the Government continues to shrink the public sector and cut
the budget deficit.As banks and households also grapple with their excessive debts, “that leaves one policy tool outstanding, which is basically the currency”, Pimco managing director and sterling bond head Mike Amey said.
George Osborne has pinned his hopes for the economy on Mr Carney, Canada’s central bank boss until the end of the week, living up to his reputation as a monetary “activist” to help ease the transition to an export-focused economy less dependant on consumer spending.
Although economists reckon there is little more central banks can do, Mr Carney has insisted policy is not “maxed out”.
Continue Reading at Telegraph.co.uk…
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Over the last (5) months ADSK has created a very important support
level at $36 (red), which was a key level of resistance prior (navy).
The $36 support is also the “neckline” for ADSK's H&S pattern. Above
the neckline you will notice the H&S pattern itself (blue).
Confirmation of the H&S would occur if the stock were to break below
its $36 support. If ADSK does break that level, the stock should move
lower from there.
Today
a legend in the business spoke with King World News about the continued
massive demand for physical gold and silver, and why this may be a huge
summer for both gold and silver. Keith Barron, who consults with major
companies around the world and is responsible for one of the largest
gold discoveries in the last quarter century, also spoke about what is
causing this rally in the metals and what he expects going forward.
Below is what Barron had to say in this tremendous interview.
DNKN has been working its way slowly higher since bottoming at $28 in
August. In January and April the stock hit $40 as resistance (blue),
which was also a 52-week high resistance. After the stock finally
pushed above that resistance in May, DNKN has already tested the $40
level as support once, and it appears to be pulling back down to it
again.
In
an email note today economist Steen Jakobsen notes the “S&P
Dividend Yield is Below the 10-Yr Treasury Yield (1.93% vs. 2.19%)”
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“There is the world that’s manipulating gold and the world that is
buying gold. And in the world that’s manipulating gold all we have to
do is look at the beginning of the week when Fed Chairman Bernanke came
out and talked about whether or not they were going to keep interest
rates low, or (have) more quantitative easing, and (then) we saw the
reaction on the Street (Wall Street).
A friend emails:
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After hitting $16 as resistance (maroon) twice back in February and
March, FSL fell all the way down to $12. Since that time though, the
stock has worked its way back up and broken through its $16 resistance,
which was also a new 52-week high. A pull back to that $16 level could
provide a nice long entry on the stock.
NOW has rallied from a bottom of $25 in January to a new 52-week high
of $44 in April. Along the way, the stock has formed a nice trendline
of support (blue). Always remember that any (2) points can start a
trendline, but it's the 3rd test and beyond that confirm its importance.
Obviously NOW's trendline is important to the stock since it has been
tested on multiple occasions.