OK,  the banks got themselves into this mess. They lobbied for the reduced oversight and expanded abilities to leverage all their assets further than what I would consider even being the slight bit responsible. They asked for it, they got it. We’ve given them cash and they took it. Now guess what, they have their hands out for BILLIONS more....

As we here at Market Guardian have been saying 928 was a big number. This time we flew through that like a hot knife through butter. The POG is 935 . Keep a close eye on it now as we think Gold could make a run at the highs over 1,000. ETF’s are buying gold hand over fist. Check back this afternoon for a new update on Gold. Update: Gold has Reached...

The worries in markets continue as they have no firm details from the Government on the banking plan. The USD and the Japanese yen rose against most rivals, and gold futures were up $12 an ounce to 920. If Geithner can clarify the details of the new Bank Bill soon that will give the ‘bounce’ legs. Clearance of Obama’s stimulus and...

Chapter 11? Who could have imagined that Sirius (SIRI) would go belly up after getting the merger green light with XM. (SIRI) needed to lower cost to subscribers and add more commercial advertisers. That didn’t happen so now it looks to be over. The whole satellite radio industry screwed up by paying the big celebrity names huge amounts of money....

I like how Geithner says, on the one hand, we must act boldly and with force, and then on the other says, this will take a lot of time to figure out. He offered absolutely ZERO details, just general double speak with no conviction. Private capital will not start to flow to banks without plans and full disclosure… Also with this “stress test”...

Gold continues it’s wild moves as it inches closer to the 928 POG breakout number that I have mentioned several times before. This is feeling kind of “bubbly” as more and more traders/investors are praising Gold. I still think as the next few weeks progress we break the 928 resistance and blow the top off 1,000. What it does from...

General Motors Corp. is cutting 10,000 more jobs in 2009. That is 14% of its salaried work force. According to a report Tuesday in The Wall Street Journal. About 3,400 employees will lose their jobs in the U.S., most of them by May 1. OH REALLY!!!! Can someone tell me how many jobs the UAW will be cutting? Will there be reduction in pay, bonuses, and...

Tonight Mr. Obama is is speaking to the Nation. The President cannot permit continued failure and a loud “no confidence” scream directed towards the financial sector/economy. Recovery plan, Stimulus plan, call it whatever you wish (called in some places “porkulus”) but tonight he needs to sell the people that this bill is something...

As I mentioned last night the market is indeed in a wait and see mode. We have basically been flat all morning. Wall Street doesn’t want to go in big in either direction until the details are announced. I do think we could get some big wild trading swings the next couple days but until then just stay on the sidelines with some dry powder. Chart...

Beatin down DryShips (DRYS) gets waiver on $800 million loan. They have reached a preliminary agreement with Nordea Bank Finland Plc to obtain a covenant waiver in connection with an $800 million Primelead loan. The agreement is preliminary and is subject to formal approvals by the company and the syndicate banks. Remember they will have an near $80...

I actually believe this week could be one of (if not thee) most important week in U.S history, economically anyway. The Government will make a decision on whether or not to borrow $800 billion dollars of tax payer money to create jobs or push through their pent up years of PORK which ever view you have. It is possible that if this package doesn’t...

Wall Street/Investors will look to the government in the week ahead, with the bank bailout plan postponed until Tuesday and stimulus package in focus on Monday. This could be a wild beginning to the trading week. It is hard to say how the markets will react to the vote and the amount in the bill itself. I would stay light and see if we get follow through...

Each of us will do our best in this great world and try to make the most prudent investment choices. In hindsight it will all be crystal. I wish each of you the best of luck whatever course you decide to take. I think given Mr. Schiff’s recent record, it’s very hard to find cause to doubt that the rest of his prediction won’t come...

This current bill/proposal and it’s $800 Billion dollar down payment on social change will kill any recovery and the fact is that it is only a start. Immediately after this so called rescue plan passes we will be told the banks are collapsing again and need more funding, the dismal car sales have upped the need for bailout funds and these industries...

My Top Mutual Funds For 2009 Keeping a solid investment Mutual Fund portfolio can be very hard work. Now throw in today’s troubling times and you have all you can do to stay in the green. With thousands of Mutual Funds to choose from, how can you tell which ones are the best? Today I am going to give you some of my top selections for 2009 in...