Scott Redler of T3 Live AIG has been all over our radar in recent weeks, as it has looked ready to explode at any moment. We recommended it at two separate times–April 5th through 34 and April 21st through 42. This stock is a dream and a nightmare for traders, but as long as you can keep your risk small you can get great risk-vs.-reward...

Gold Scents Let me start off by saying the market should be correcting. Sentiment has reached ridiculous bullish extremes, the kind of extremes that led to the January /February correction. That correction separated the second leg of the bull from the third. But let’s face it, sentiment has been in this condition for several weeks now and the...

Macro-Trader Since last Thursday we have been in the process of forming a ‘high-level’ triangle. The 30 handle width of the pattern from Thursday’s high to Monday’s low dictates a minimum measured move of about 25-30 points once it breaks. Key word being – BREAKS! Anticipating the resolving direction of a pattern can...

Tyler Durden Mark Mobius, at least smi-hypocritically, joins the camp of those who still dare live in reality. Bloomberg reports that the Templeton Chairman said Greece should be allowed to go bankrupt as that would be the best way to sort out its finances. “If we pour piles of cash into a country where corruption extends to top government officials,...

Tim Iacono Diana Olick of CNBC talks about the latest existing home sales data from the National Association of Realtors and how the March surge compares unfavorably to last November when the first round of tax credits was about to expire. The inventory of unsold homes remains uncomfortably high, particularly when considering the size of the...

By JOHN RUBINO at Dollar Collapse Take a look at the chart below, and note the unnaturally smooth 80% decline. Kind of makes you think “imminent bankruptcy”. But now consider that the security in question is 100% guaranteed not to fall to zero and about 90% guaranteed to stay above 10. It’s VXX, an exchange traded fund that, according...

by Sellputs As everyone should already know, Goldman was charged last Friday with fraud charges relating to sub prime mortgages. I think most people who are familiar with Goldman and their antics were expecting something like this to happen. I for one am not surprised and fully expect other banks to find themselves in a similar situation because...

Here at Casey Research, we eagerly awaited the release of quarterly reports from the companies in our favorite sector. Why? The gold price was substantially higher last quarter than during the comparable meltdown quarter of 2008, so we were anxious to find out if it would lead to a spike in profits. Gold and silver producers posted substantially higher...

Scott Redler of T3Live Earlier I said the markets were holding on by a thread, and I guess that was a very strong thread! The S&P held higher with a low of 1190, still above Monday’s low of 1183). Within the wedge, we said that the banks held the key to how the pattern of indecision would resolve itself, and that proved to be the case. As...

Tim Iacono The NAR (National Association of Realtors) reported that sales of existing homes rose 6.8 percent in March as more buyers took advantage of the homebuyer tax credit, a government incentive program that expires next week. Since the existing home sales data does not reflect contract signings but, rather, completed transactions and the upcoming...

Tyler Durden Here’s one for the history books – this is what a semi-inverted yield curve looks like. The reason for the shaded area, and why the curve isn’t inverted off the bat: the IMF has pledged your money, dear Americans, to make sure Greece can at least roll its immediately maturing debt. Americans, via the IMF and Ben Bernanke’s...

CalculatedRisk The DOL reports on weekly unemployment insurance claims: In the week ending April 17, the advance figure for seasonally adjusted initial claims was 456,000, a decrease of 24,000 from the previous week’s revised figure of 480,000. The 4-week moving average was 460,250, an increase of 2,750 from the previous week’s revised...

Joe Weisenthal of ClusterStock At 11:55 today, Barack Obama will speak on financial reform, and apparently it’s going to be one of those speeches covered by everyone. It will be held in New York symbolizing his drop into enemy territory. Unfortunately, it doesn’t sound as though he’ll dive deep into specifics. According to Bloomberg,...

It’s been, an interesting week as stocks and commodities claw their way back up after the end of week sell off on Friday. Most of the chart technical are pointing to another wave lower for gold, silver, oil and the broad market. This next wave of selling would form an ABC retrace pattern on the commodity charts and this pattern is bullish. Also...

Crossing Wall Street One of the quick-and-dirty metrics I like to look at is the Morgan Stanley Cyclical Index (^CYC) divided by the S&P 500 (^SPX). The Cyclical Index is composed on stocks that are closely tied to the economic cyclical. This means industries like autos, chemicals and mining. When we divided these two indexes, we can...