Continue...James Turk has specialized in international banking, finance and investments since graduating in 1969 from George Washington University with a B.A. degree in International Economics. His career began at Chase Manhattan Bank (now JPMorgan Chase & Co.), which included assignments in Thailand, the Philippines and Hong Kong. He subsequently joined the investment and trading company of a pro...Read More
The Canadian company announced a $21 million budget and aims to complete the expansion by year-end 2020. Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTCQX) more than doubled its ongoing drill program at Dixie in Ontario's Red Lake District to 200,000 meters (200,000m) from 90,000m, it announced in a news release. The explorer aims to complete the remaining meters of drilling by year-end 2020."We...Read More
Even though it's on rate-cutting hold, the Fed nonetheless keeps engaging in aggressive oversubscribed repo ops, or as we like to call the process, "QE4R."QE4R involves offering money to banks in return for short-term U.S. Treasury and mortgage bonds, in shades of 2009.The fact that the Fed is expanding its balance sheet through these repo operations allows it to pretend it is merely auctioning "a...Read More
It's hard to believe the end of the year is upon us and 2020 is right around the corner.In many ways, it went by very quickly. For economies and markets, it was a year marked by uncertainty over economic slowdowns, trade wars and a complete pivot in "dark money" policy initiated by the Federal Reserve and subsequently followed by other central banks around the world.Notably this year, it wasn't ju...Read More
The Fed is pumping out tens of billions of dollars every month, and yet, the economy keeps sinking. What does this tell economist John Williams? "The system is not operating properly. These are stopgap measures, stopgap liquidity that the Fed is putting into the system. If they understood what was going on, they would not be doing that. They wouldn't have to do it. They have lost control of the sy...Read More
Google automatically keeps a detailed log of everywhere you go in your life unless you change the default settings.Continue...Read More
"We are the good guys, I really do believe that.""I know it's complicated but you know, do you want a strong national defense or don't you? I think you do...Continue...Read More
Japan faces a wall of debt that can only be addressed by printing more money and debasing its currency. This means they will be paying Continue...Read More
The gold stocks are setting up for a very good 2020. The current correction is not over but all the indications are that once it ends, gold stocks could begin an impulsive advance.Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock sel...Read More
Even though it's on rate-cutting hold, the Fed nonetheless keeps engaging in aggressive oversubscribed repo ops, or as we like to call the process, "QE4R."Continue...Read More
Dear Rich Lifer,Are diamonds the biggest scam in history?Before the 19th century, diamonds were scarce. It wasn’t until the discovery of huge diamond mines in South Africa in the late 1800s that diamonds flooded the market.Except they never did…For most of the twentieth century, the diamond market was entirely controlled by one company: De Beers.The Diamond's HistoryDe Beers manipulate...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 346,52555,82093,891203,920526,707644,336676,418 Change from Prior Reporting Period 21,2392,16836912,37229,69233,98032,229 Traders 20552745053280158 Small Speculators LongShortOpen Interest 56,68024,598701,016 -2,232-48131,748 non reportable positionsChang...Read More
Gold has been correcting following last summer's powerful bull-breakout upleg. Since peaking, gold has inexorably drifted lower in a well-defined downtrend. Traders are wondering when this necessary and healthy sentiment-rebalancing selloff will bottom, paving the way for gold's next upleg. But this correction still has a ways to run, according to speculators' gold-futures positioning wh...Read More
- Gary SavageGold market update: Signs of a similar H1-2019 pattern? Similar pattern emerging to earlier this year with gold now reversing higher with higher lows and higher highs -- we are starting to stair-step up. Banks going to get stuck in another short squeeze? All the poor saps who sold out at the intermediate bottom..December 5th video update.Gary Savagehttp://blog.smartmoney...Read More
Gary TanashianWe all know that the gold and silver Commitments of Traders are very extended and at levels of commercial net shorts and large spec net longs that tend to be in place at tops in the metals. Well, the metals topped in the summer, so what does that tell us?For one thing it tells us that bull market rules are different from bear market rules as per this post from August as gold was to...Read More
Originally published on Sat Nov 30 for members of ElliottWaveTrader.net: I want to take you back a bit in time so you can develop the appropriate perspective of a bottoming process in the metals market. - Avi GilburtFor those of you that were with us back towards the end of 2015, you may remember that I was being quite vocal of the fact that I was heavily buying mining stocks. In fact,...Read More
After today's US November nonfarm payrolls, traders will take positions for next week's FOMC meet. NFP will give hint on next week's FOMC meet. Look into US economy and global economy in totality and not just from interest rate perspective. UK election and December 15 deadline for US-China trade deal will also be under close scrutiny by traders and investors alike. US president Trump and his imp...Read More
The Dow ended the week on a high note, following a strong nonfarm payrolls reportThe Dow snagged a 337-point win today, following a strong U.S. jobs report. Data showed 266,000 jobs were added in November, exceeding economists' expectations. Several stocks boosted the blue-chip index, too, including Goldman Sachs (GS), which rallied 3.4% on a strong day for financials. More broadly, a booming ener...Read More
SFIX earnings are due after Monday's closeOptions volume is running hot on Stitch Fix Inc (NASDAQ:SFIX), as the retailer prepares to report earnings after the stock market closes next Monday, Dec. 9. With a little under two hours left in today's trading, around 7,000 puts and 5,400 calls have changed hands on SFIX -- three times what's typically seen at this point, and volume pacing in the 92nd an...Read More
MGM has been holding near its 52-week peak from NovemberMGM Resorts International (NYSE:MGM) hit an annual high of $32.24 back on Nov. 27, and was last seen holding just below this milestone after finding support in recent sessions near the 20-day moving average, checking in at $32.12. On the day, MGM stock is up 0.6%, even after SunTrust Robinson began coverage on the casino owner with a "hold" r...Read More