Tuesday, February 24, 2015

Copper: A Bullish Sign for This Beaten-Down Commodity

Last month, I told you about the ugliest chart in the market.
Copper was sitting precariously close to an important long-term support level. If it broke down, I said it could lead to a sharp decline.
That's exactly what happened.
The price of the metal has fallen 13% so far this year.
But now, the "ugliest chart in the market" is starting to look a little better...
Take a look at this updated weekly chart of copper...
As I said, the price of copper has fallen 13% so far this year. And looking just at this weekly chart, the metal could fall further from here before hitting support at about $2.20 per pound. (more)
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The Real Crisis Will Not Be In Stocks… It Will Be In Bonds

by Graham Summers
Gold Seek

The mainstream financial media likes to focus on stocks because:
1) The stories are a lot sexier than bonds or currencies
2) They make for better hype jobs than bonds or currencies
If your job is to sit in front of a camera selling the notion of getting rich from investing, you’re not going to talk about bonds or currencies (maybe the latter is of interest but only with insane amounts of leverage which usually bankrupts a trader in his or her first trade).
However, today stocks are in fact a very minor story. They are, in a sense, the investing equivalent of picking up pennies in front of a steamroller.
Continue Reading at GoldSeek.com…
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Diverging Developments in Oil Markets vs. Energy Shares

by Walter
Sober Look

Let’s take a look at the recent developments in the US energy markets and the seemingly contradictory reaction by equity investors.
First of all, while we continue to see significant declines in the US rig count (both oil and gas), …
[...] … American crude oil production remains at record levels and still rising. It’s going to take time for this momentum to turn.
Continue Reading at SoberLook.com…
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Sangamo Biosciences, Inc. (NASDAQ: SGMO)

Sangamo BioSciences, Inc., a clinical stage biopharmaceutical company, focuses on the research, development, and commercialization of zinc finger DNA-binding proteins for gene regulation and gene modification in the United States. The company has collaboration and license agreements with Shire International GmbH and Biogen Idec Inc.; and strategic partnerships with Sigma-Aldrich Corporation, Dow AgroSciences, LLC, Open Monoclonal Technology, Inc., F. Hoffmann-La Roche Ltd, and Hoffmann-La Roche Inc. Sangamo Biosciences, Inc. was founded in 1995 and is headquartered in Richmond, California.
Take a look at the 1-year chart of Sangamo (Nasdaq: SGMO) below with my added notations:
1-year chart of Sangamo (Nasdaq: SGMO)
Other than the steep decline in March and April, SGMO has been trending primarily sideways over the last year. During that time stock has created an obvious resistance level at $17 (red). A break above that $17 level should mean higher prices for the stock.
The Tale of the Tape: SGMO has a key level of resistance at $17. A long trade could be entered on a break through that level. However, if you are bearish on the stock, a short trade could be made on any rallies up to $17.
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The Long Road To Avoiding Grexit

zerohedge.com / by Tyler Durden on 02/23/2015 11:44
While Friday’s ‘agreement’ to agree to agreeing a deal that would be agreeable between The Eurogroup (and its ‘Institutions’) and Greece was heralded by the markets as a success for avoiding a Greek Exit (Grexit), there are numerous hurdles left in the next few months that could derail this process and bring about the re-introduction of the Drachma. As Deutsche Bank concludes, Greece’s (reluctant) request for a bailout extension is the first step in what is likely to be a difficult path to compromise
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