Tim Iacono Former Kansas governor Mark Parkinson appeared on CNBC yesterday and made the point that you don’t hear too much anymore these days with European credit markets being such a mess – that the U.S. will someday have a similar crisis. Unfortunately, with the election season now well underway, officials in Washington are not likely to take...

By Jeff Clark, Casey Research We’ve been saying since September that gold producers are undervalued, and here are some data that show just how extreme the undervaluation is. The following chart measures the stock prices of major and intermediate gold producers against their Net Asset Value, based on the daily price of gold. In the simplest terms,...

Tim Iacono More evidence that economists in general and dismal scientists at the Federal Reserve in particular are hopelessly and dangerously detached from reality (i.e., guided by the mistaken belief that, if something doesn’t exist in their models, neither does it exist in the real world) comes via this Associated Press story about a new study...

Submitted by Tyler Durden And update from Bloomberg: HORMUZ STRAIT IS NOT SHUT: IRAN FOREIGN MINISTRY SPOKESMAN – Bloomberg Ealier: Iran has closed the Straits of Hormuz for military training as was expected yesterday, according to RanSquawk. Oil, and all other commodities, are outtahere. And entire commodity complex: And for those curious...

Hello fellow traders everywhere!  Adam Hewison here, co-founder of MarketClub with your 1 P.M. market update for Monday, the 12th of December. ———— Risk on – Risk off, what will tomorrow be? The Collapse of Gold Today, we want to take a close look at the gold market. We will see if the big move to the upside is over, and how far this move...

By Eric McWhinnie Despite having a rather stable performance last week, gold and silver are declining sharply Monday.  Gold fell below a key support level at $1,680, while silver dipped below $31.  There are several global factors contributing to the decline in precious metals today. A European summit deal to tighten fiscal rules in the eurozone...

Submitted by Tyler Durden Following the auction of the latest $32 billion in 3 year bonds, the market is expected to relax as based on the optic the auction was a stunning success, with a High Yield of 0.352%, higher than just the 0.334% hit in September when the market was collapsing. Yet the Bid To Cover of 3.624 was the highest ever in the series...

Submitted by Tyler Durden On Friday, following the announcement from Goldman that the firm’s had just turned more bullish on European financials raising banks from Underweight to Neutral, we said: “Goldman has just started selling European bank stocks to its clients, whom it is telling to buy European bank stocks. Said otherwise, the...

by Karl Denninger This is amusing to wake up to on a Monday morning…. The strengthening U.S. economy is proving no deterrent to the biggest rally in Treasuries since 2008, and America’s largest bank says it may get even better for bond investors. Uh huh.  It’s called “fear” and it’s been driving money into the US and,...

Submitted by Tyler Durden Via Peter Tchir, of TF Market Advisors, Maybe, but not in the way everyone seems to think.  Haven’t we already decoupled? YTD stock returns in the US are 0% for the S&P and Nasdaq, and the Buffet owned DJIA is actually up 5%. Get your FREE GOLD Weekly Report sponsored by NYSE YTD Performance (rebased to USD) for...

Courtesy of Jesse’s Cafe Americain  Janet Tavakoli does her usual great job of cutting to the heart of the matter. Below is an excerpt of her Huffington Post piece on MF Global today. I keep thinking that nothing will shock me anymore in this US financial fraud fest. But the coverup of the MF Global stealing of customer money in a cloud of legal...

Submitted by Tyler Durden In his latest weekly chartology, Goldman’s David Kostin takes a different route to recapping the week’s events and instead of merely summarizing the market action, explains what the views of Goldman’s clients are, especially the bulls among them (“Bullish investors hold more positive outlooks for margins...

Experienced traders recognize that volume typically dries up going into the holiday season. Light volume and the holiday seasonality generally push equity prices higher. The discussion of whether Santa Claus comes to Wall Street has arrived in earnest. I do not envy Santa as he has the most arduous task of determining if Wall Street was naughty or nice....

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By Jeff Clark, Casey Research If you’re bullish about the long term for gold and silver, it’s mouthwatering to watch them undergo a major correction after taking earlier profits that added to your deployable cash. For a little historical perspective on pullbacks, consider the following charts. The current 15.6% gold decline, while considered...