Monday, August 12, 2013

Incredibly Important Developments In Gold & Silver Markets

from KingWorldNews:
Eric King: “Dan, what about the COT (Commitment of Traders Report)? I know once again there was some major movement there?”
Norcini: “One of the things that caught my eye this week was the swap dealer (activity).
They were selling a lot of gold. There was a big, big jump in their short positions overall. They piled on almost 26,000 shorts.
Very interesting, also, the producer/merchant (commercial) category didn’t have a lot of movement. They were pretty flat on the week again. So the bulk of the selling really came from the swap dealers. I can’t help but think that some of that swap dealer selling was related to hedges being instituted for mining companies.”
Dan Norcini continues @
Please share this article

Technician Charles Nenner: Markets Going Nowhere Next Eighteen Months

by James J Puplava CFP
Financial Sense

Jim welcomes noted technician Charles Nenner this week. Charles sees the markets going nowhere, on balance, over the next eighteen months, and advises investors to stay in cash and come back later. Charles also warns against those still in bond funds, and suggests using any bond market rally as an opportunity to get out bond funds. He sees gold as a so-so trade, despite its large pull-back, and doesn’t see a large advance until inflation heats up. This week Chris Puplava and Rob Bernard join forces for a special report. They look back at the market crash of 1987, and contrast the underlying causes and market conditions with today’s environment. Erik Townsend also looks at the commodities markets this week.
Click Here to Listen to the Audio

Please share this article

Don’t Be Fooled By Facebook (Nasdaq: FB)

Facebook (Nasdaq: FB) stock closed over $39 for the first time ever Monday, but the gains were short-lived. In mid-morning trading Tuesday, FB shares slipped more than 2% to $37.94.

Nonetheless, Monday’s milestone, which took a long 14 months to achieve, left many investors giddy – and confused.

With shares trading above its May 2012 initial public offering price of $38, scores of market participants are mulling whether it’s time to take the plunge and buy shares or pull the trigger on the lot they own.

Money Morning Chief Investment Strategist Keith Fitz-Gerald cautions investors not to go lured in. He compares FB to overhyped companies of the past that left many investors with buyer’s remorse. (more)

Please share this article

The Silver Miners are Ripe for Breakout / By Scott Pluschau / Sunday, August 11th
The Silver Miners Exchange Traded Fund symbol SIL looks ripe for a breakout from a Bullish reversal pattern on the Daily chart. This pattern is what I call an “Inverted Head and Double Shoulders pattern” which is highlighted by the blue text notes on the chart below. The neckline is a trendline drawn off the peaks in this pattern and the breakout point signals the potential change in trend.
Notice on the chart below in the blue rectangles on the lower sub-graph the Volume was heavy with the bearish price action when forming the left shoulder of the pattern, and recently we have seen increasing volume when forming the right shoulder with bullish price action. This is what you want to see at this point. Now what is most important will be a breakout through the neckline with another surge in volume.
Please share this article

US Weekly Economic Calendar

time (et) report period Actual CONSENSUS
2 pm Federal budget July8   -- -$70 bln
7:30 am NFIB small business index Aug.   -- 93.5
8:30 am Retail sales July   0.3% 0.4%
8:30 am Retail sales ex-autos July   0.4% 0.0%
8:30 am Import price index July   0.9% -0.2%
10 am Business inventories June   0.2% 0.1%
8:30 am Producer price index July   0.3% 0.8%
8:30 am Core PPI July   0.2% 0.2%
8:30 am Weekly jobless claims 8/10
328,000 333,000
8:30 am Consumer price index July   0.2% 0.5%
8:30 am Core CPI July   0.2% 0.2%
8:30 am Empire state index Aug.   8.2 9.5
9:15 am Industrial production July   0.2% 0.3%
9:15 am Capacity utilization July   78.0% 77.8%
10 am Home builders index Aug.   57 57
10 am Philly Fed Aug.   15.0 19.8
8:30 am Housing starts July   910,000 836,000
8:30 am Building permits July   953,000 918,000
8:30 am Productivity 2Q   0.7% 0.5%
9:55 am Consumer sentiment Aug.   85.3 85.1
Please share this article