Monday, November 3, 2014 Radio: Charles Nenner & Kevin Kerr, and your host Chris Waltzek

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HUI / Gold Ratio Hits Lowest Level Ever Recorded (Updated with Gold Chart)

by Dan Norcini
Trader Dan Norcini

I have been detailing this ratio chart quick often of late as I am of the opinion that the gold shares still lead the price of the metal. My concern for the outright price of gold has been noted as this plunging ratio has been a very good indicator for the future direction of the gold price thus far.
Much is made by the same culprits as usual about big sell orders on the Comex, takedown of this, takedown of that, the usual, blah, blah and more blah, as an attempt to buttress the notion that this fall in the price of gold has been orchestrated by the powers that be to discredit the metal.
The problem with this theory in this environment is that the MINING SHARES have been LEADING the metal lower.
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Our Top 5 Dividend ETFs for Income

Dividend payouts to shareholders are essentially a return on their investments.
The benefits of dividends, however, go way beyond investment returns and are well documented.
Not only do dividends provide a steady stream of income, numerous studies show they have accounted for more than 40% of the total market returns over the last eight decades.
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American Equity Investment Life Holding (NYSE: AEL)

American Equity Investment Life Holding Company, through its subsidiaries, operates in the insurance business in 50 states and the District of Columbia. It underwrites fixed annuities, including fixed index annuities and fixed rate annuities, as well as single premium immediate annuities. The company also offers life insurance products comprising traditional ordinary and term, universal life, and other interest-sensitive life insurance products. It targets group of individuals aging 45-75 who are seeking to accumulate tax-deferred savings. The company markets its products through a brokerage distribution network of approximately 45 national marketing organizations and approximately 27,000 independent agents.
Take a look at the 1-year chart of American Equity (NYSE: AEL) with the added notations:
1-year chart of American Equity (NYSE: AEL)
After rallying straight up from November into January, AEL then fell back down just as fast. The stock has since stabilized and moved into a sideways range. While trading in that range, the stock has hit a very important area of resistance near $25 (purple). If the stock can break above its $25 resistance zone higher prices should follow.

The Tale of the Tape: AEL has a zone of resistance around $25. A long trade could be entered on a break through that area. However, if you are bearish on the stock, a short trade could be made on any rallies up to $25.
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US Weekly Economic Calendar

time (et) report period ACTUAL CONSENSUS
9:45 am Markit PMI Oct.   -- 56.2
10 am ISM Oct.   55.7% 56.6%
10 am Construction spending Sept.   0.7% -0.8%
TBA Motor vehicle sales Oct.   16.4 mln 16.4 mln
8:30 am Trade deficit Sept.   -$41.5 bln -$40.1 bln
10 am Factory orders Sept.   -0.5% -10.1%
8:15 am ADP employment Oct.   -- 213,000
10 am ISM nonmanufacturing Oct.   58.1% 58.6%
8:30 am Weekly jobless claims Oct. 25
8:30 am Productivity Q3   0.6% 2.3%
8:30 am Unit labor costs Q3   0.7% -0.1%
8:30 am Nonfarm payrolls Oct.   235,000 248,000
8:30 am Unemployment rate Oct.   5.9% 5.9%
3 pm Consumer credit Sept.   -- $13.5 bln
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