Following the gold market as we do here at MarketClub, it was amazing that nobody, and I mean nobody, was bearish on this market. This always creates a problem as the markets tend to reverse when everyone is on one side and there’s no one else left to buy. Another tip-off was on Fox Business News and also on CNBC indicating that gold was going...

Courtesy of Mish At long last, the real issue regarding soured mortgages has stepped up to the plate. The misguided focus on “ForclosureGate” is but a sideshow compared to Pimco, NY Fed Said to Seek BofA Mortgage Repurchases Pacific Investment Management Co., BlackRock Inc. and the Federal Reserve Bank of New York are seeking to force...

By Phil at Phil’s Stock World Will our 7.5% lines hold? As I mentioned yesterday, we expected a test of our 7.5% lines at  Dow 10,950, S&P 1,160, Nasdaq 2,400, NYSE 7,450 and Russell 690 and we remain TECHNICALLY bullish if we hold them.  The Dollar was doing well until about 3am this morning but then turned down sharply – some...

Courtesy of The Pragmatic Capitalist This morning’s industrial production data came in weaker than expected and a look under the hood can tell us quite a bit about the current environment.  Industrial production declined -0.2% vs estimates for a 0.2% rise.  Capacity utilization failed to rise for the first time in 15 months.  The reversing...

Tim Iacono When it becomes difficult to find reporting about the gold price like this commentary($) by Mark Williams in the Financial Times (alternatively, here), you’ll know that we’re near the end of the secular bull market that is now just ten years old, but, until that time, the prevalence of this type of thinking toward the metal – the...

Courtesy of The Pragmatic Capitalist I wanted to pass along some thoughts on the current macro environment as I believe we are at a potential turning point.  After turning very pessimistic in August markets have once again swung to an excessively optimistic position on hopes that the economic recovery is intact and that the Fed will sweep the...

Tim Iacono Everyone’s talking about a “gold bubble” again and how its bursting will wreak havoc on those foolish investors who succumbed to the lure of tulips, dotcom stocks, housing, and now … a shiny yellow metal. But, the funny thing is, this latest bubble seems to keep bursting and re-inflating – unlike other bubbles that stay burst...

The Market Ticker Remember, it is against the law – Sarbanes-Oxley -  for a Bank Executive (or any other public company executive) to not know or the falsify any part of their public report. Of course not one person has been indicted for this since SarBox was passed.  Not even Dick Fuld, who said – in public – he was going to ...

“Make Enough Money in the First 59 Minutes of Trading to Take Off and Do Whatever You’d Like for the Rest of the Day”

Scott Redler of T3Live Right now there is a big difference between the Nasdaq and the Dow after strength in tech stocks last week. Also, commodities are trading in their own space right now. There is lots of action out there, but you must have a handle on what is going on. You could have been miserable trapped in the banks and not honoring stops,...

The broad markets along with metals have been on fire but in the last two weeks we have seen the sentiment become stronger. The extreme bullishness we are seeing has made it difficult for low risk swing traders to get in on the action simply because there have not been many sizable pullbacks. Instead the prices have been inching their way higher...

First time claims for unemployment benefits rose 13,000 to 462,000 in the week ended October 9th from a revised reading of 449,000 for the previous week. Economists estimated an increase in jobless claims to 450,000 from the 445,000 reported initially for the previous week. The four-week average rose 2,250 to 459,000, while continuing claims for...

Courtesy of Mish Rasmussen Reports recently released an interesting survey that shows Homeowners Are More Pessimistic Than Ever About the Short-Term Housing Market A new Rasmussen Reports survey finds that 32% expect the value of their home to decrease over the next year, the highest finding since Rasmussen Reports began asking the question regularly...

Courtesy of John Nyaradi, Wall Street Sector Selector Get a Special Free Report from Wall Street Sector Selector I don’t know how bad things might get but here are the top risks on my worry list this week. Do we have QE2, or don’t we?  And will it work?  How bad will the currency war get and how low can the dollar go? Are insiders and corporate...

The Market Ticker This is all that’s left of this market… Three stocks.  Banks got pounded again today, as did quite a few other things, other than Seagate (which allegedly is maybe being taken private) All the money went here, which produced a rocket in the Nasdaq 100, since that’s the lion’s share of the index. The rest? ...