Tuesday, February 26, 2013

We May Be Seeing A V-Shaped Bottom In Gold

from KingWorldNews:
Today Ben Davies told King World News that we may well be seeing a “V-shaped bottom” in the gold market right now. But first, here is what the rising star had to say about the recent smash: “It feels like a smash to some extent. I think that’s because the market had been trading sideways for a while, so the release lower feels much more aggressive than perhaps it is. We’ve ostensibly come off about 5% or 6%.
Not withstanding that, it still feels quite aggressive. It’s disappointing for the bullion participants there is no doubt about it. When a market is giving you the best fundamentals in the world to be invested in, but is consistently showing a poor response to bullish news, you have to take note.
I believe when I last came on (to KWN) last time we talked about our trend system being ‘trend ready.’ The markets released lower, and now we’re into extremes that I haven’t seen in terms of sentiment since 1993 and 1997…”
Ben Davies continues @ KingWorldNews.com
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The USD Reversal No One is Talking About

The US dollar is one of the most important, yet least discussed chart of the year.  Noticing the dollar's break below 79600 late January, early February, only to establish a bearish bias and lure in shorts before turning around higher. The market has held above its reversal window, thus reversing the bearish bias which has led the market to take out its year highs of 8100 set early January.  This U turn is having a major effect and pressure on commodity markets as the USD failed to break lower and is trading on new highs for the year. Take note of the gold chart how it is completely opposite of the dollar chart and is an upside down "U" from the beginning of the year. Going forward, 80400-8100 is a new area of major support for the dollar market with stops below the year lows.  (more)

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Express Scripts Holding Company (NASDAQ: ESRX)

Express Scripts Holding Company provides a range of pharmacy benefit management (PBM) services in North America. It offers healthcare management and administration services on behalf of its clients, which include health maintenance organizations, health insurers, third-party administrators, employers, union-sponsored benefit plans, workers compensation plans, and government health programs. The company's integrated PBM services comprise network claims processing, home delivery services, patient care and direct specialty and fertility home delivery to patients, benefit plan design consultation, drug utilization review, formulary management, drug data analysis services, distribution of injectable drugs to patients homes and physicians offices, bio-pharma services, and fulfillment of prescriptions to low-income patients through manufacturer-sponsored patient assistance programs. It is also involved in the distribution of pharmaceuticals and medical supplies to providers and clinics; international retail network pharmacy management; home delivery pharmacy services in Germany; scientific evidence to guide the use of medicines, and diabetes prescriptions and testing supplies; and healthcare administration and implementation of consumer-directed healthcare solutions.
To analyze Express' stock for potential trading opportunities, please take a look at the 1-year chart of ESRX (Express Scripts Holding Company) below with my added notations:
1-year chart of ESRX (Express Scripts Holding Company) ESRX has a key price level at $56 (navy). Not only can you see the $56 resistance from back in July and over the last (4) months, but that price has also acted as support on a couple of occasions. So, the $56 level is key to this stock. If you are bullish, you would want to buy the stock on a pullback to $56. However, if you are bearish, you might short ESRX on a break of the $56 support.
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Arch Crawford – Is A Market Crash Coming By This Thursday?

from FinancialSurvivalNet
Arch Crawford, the renowned technical and astrological investor joined the show today. He believes that if there’s a crash coming in the next 6 months, it will occur by February 28, 2013. He’s not sure that it will happen, but if it does it will soon be here. While his forecasts are not 100 percent accurate, they are always interesting and provocative. He still thinks gold and silver are the investments for the intermediate and long term. Furthermore, he doesn’t see Congress fixing anything. So, what else is new? In addition, he said to watch out for May 20, a significant date on the Mayan Calendar.
Click Here to Listen to the Audio
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What’s Going on With This SILVER Correction? … Gold, Platinum, Palladium, Mining

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Market Plunges As European Crisis Is Back

from Zero Hedge
JPY saw a massive correction today – gaining 3% against the USD – its biggest single-day gain since May 2010 – dragging all the carry traders with it. S&P 500 futures volume exploded to its highest since the rally began in November as it broke its uptrend and slumped 40 points from its intraday highs. VIX’s term structure collapsed to its flattest in 18 months as spot surged above 19% (no – everyone wasn’t hedged). The Dow, S&P, and Nasdaq are all red for the month and even the Trannies are almost unch. Treasuries soared with 10Y ending -10bps (after being +4bps at its worst of the day). Gold and Silver surged (with the latter testing near $1600 again) as WTI dropped 1%. Homebuilders (not helped by lumber’s price collapse) dropped 3.5% but every sector was ugly today and closed at its lows.
Continue Reading at ZeroHedge.com…

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James Turk Warns The Federal Reserve Is Already Insolvent

kingworldnews.com / February 25, 2013
Today James Turk told stunned King World News when he warned, “… the Federal Reserve is already insolvent.”  Turk also stated, “Because of the intense leverage that the Federal Reserve employs, this means the mark-down on its $2.844 billion of securities is, in reality, a staggering $57 billion loss.”  Here is what Turk had to say in this extraordinary interview:  “There was an interesting article in The Telegraph here in London over the weekend, Eric.  It highlighted a study just released by former a Federal Reserve governor that examined the Fed’s solvency.”
James Turk continues:
“As The Telegraph explains, “The Federal Reserve is acutely vulnerable because it has stretched the average maturity of its bond holdings to 11 years, and the longer the date, the bigger the losses when yields rise.”  The paper then went on to say that “trouble could start by mid-decade and then compound at an alarming pace, with yields spiking up to double-digit rates by the late 2020s.”
I have been watching the yield on the 10-Year T-note and long-bond carefully here.  It is significant that yields have been rising fairly steadily over the last several months, and yields are already well above the record low they made back in June.  So I decided to read the study….
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