Turkish domestic long steel markets remained quiet ahead of a week-long public holiday and due to a strengthening lira, which made buying more expensive, sources said on Thursday May 30. Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,330-3,400 ($553-564) per tonne ex-works, narrowing downward from last week's TRY3,330-3,420 per tonne. The domestic rebar price in th...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) remained uncertain in the week ended Thursday May 30, with sellers optimistic because of higher prices for steel scrap, while buyers remained pessimistic, citing weak prices for finished steel products.Fastmarkets' price assessment for high-manganese pig iron exports from the CIS was $335 per tonne fob Black Sea on M...Read More
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By: Dave KranzlerTSLA had yet another bad week, closing down $19 (9%) from the previous Friday's close. Last week every attempted bounce in the stock was shortable on a daytrading basis. Currently Tesla's shares are trading at $188. It would likely be a lot lower if it weren't for Musk's repeated "leaked" emails loaded with dubious production and delivery claims, with both barrels pointed direct...Read More
By: Avi Gilburt I have now been writing for Seeking Alpha for approximately 6 years. And, I can honestly say that not much has changed in the readership base. Yes, that means you.You see, the same folks that have commented on my articles that Elliott Wave analysis is akin to voodoo are still making the exact same comments they made years ago.Do you think that the accuracy of our underlying anal...Read More
By: Jordan Roy-Byrne CMT, MFTAWe have written for over a year about the historical importance of the shift in Federal Reserve policy. We've noted that over the past 65 years in 11 of 13 rate cut cycles the gold stocks have enjoyed tremendous gains. The historical data shows an average gain of over 170% and median gain of almost 150%. As of Tuesday morning, the market showed an 84% chance of a...Read More
Dear Friend of GATA and Gold:Liechtenstein-based investment fund Incrementum's annual "In Gold We Trust" report, compiled by Ronald-Peter Stoeferle and Mark J. Valek, was published this week and again described the reasons for gold's glorious prospects. Among them:-- Loss of trust in international relations and everyday society amid ever-more-polarized politics.-- Gold's generally good performan...Read More
Although I usually let my charts tell me where stocks are headed next, the 'technicals' are a tad sunnier than I at the moment. This is notwithstanding recent weakness that has caused new record highs that were within spitting distance just a few weeks ago to recede. A 3095 target that lay just 4.5% from early May's peak now sits 10.5% away. It's certainly do-able, but I doubt buyers have the mo...Read More
The Turkish deep-sea scrap market has fallen quiet again after mills failed to sell finished long steel products to the United States even though that country has now removed its extra tariff on Turkish steel, sources said on Thursday May 30.The mills did return to the market for a short buying spree late last week, after the US reduced its import duty on Turkey-origin products to the pre-existing...Read More
Craig Hemke believes that the Fed will be forced to cut rates at the next meeting on June 18-19. The yield curve has become inverted which is almost always a precursor to recession. Is the economy actually weakening? It only takes two consecutive quarters of negative growth to make a recession. The Fed has run out of choices. Let's see what happens next.Known primarily by his nickname "Turd Fergus...Read More
Links to slides and sources: https://www.itmtrading.com/blog/db-da...According to the DB Q1 2019 Financial Report, leverage at Deutsche has expanded in the first quarter of 2019 and officially, they hold 3.9 Euro's of equity for every 100 Euro's of debt, so if the value of their holding drops just 4%, they are insolvent. Something that has occurred in recent years past. Because the global banks ar...Read More
Lies, lies and more lies. You're constantly being lied and there seems to be little appetite for the truth. More and more money gets printed up, the debt goes ever higher and yet nothing seems to happen. Chris believes that the US is immersed in a propaganda bubble, but outside the country he thinks they're a bit more open. But everyone knows there's more than enough propaganda to go around. Under...Read More
It's no secret that silver has been in the dumps for 8 years now. But David Morgan and myself are undeterred. The fiscal irresponsibility, profligate spending, dire world economics and so much more, leads one to the conclusion that an insurance policy is necessary. And precious metals always have been exactly that. And select miners are truly killing it. But it's going to take a catalyst to send p...Read More
Click here for full transcript: http://financialrepressionauthority.c...Yra Harris is a trader with over 32 years of experience in all areas of commodity trading, with broad expertise in cash currency markets. He has a proven track record of successful trading through combination of technical work and fundamental analysis of global trends; historically based analysis on global hot money flows. He...Read More
Seaborne iron ore prices dipped on Thursday May 30 following losses in the futures and steel markets, and amid concerns over narrower profit margins at Chinese steelmakers.MB 62% Fe Iron Ore Index: $103.87 per tonne cfr Qingdao, down by $2.31 per tonne.MB 62% Fe Pilbara Blend Fines Index: $102.35 per tonne cfr Qingdao, down by $2.31 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $107.66 per tonne...Read More
"The First Amendment to the United States Constitution did not protect conduct of a minor who distributed a digital video file of herself engaged as a subject in consensual sexual conduct," wrote the court.Continue...Read More
Jailed Wikileaks publisher Julian Assange is reportedly "too ill" to even speak at a scheduled extradition hearing today. He is said to Continue...Read More
One of the lessons of the past few decades' boom/bust cycles is that each financial bubble emerges in a different asset class. In the 1970s it was precious metals, in theContinue...Read More
Long maturity US Treasury price action today was consistent with a blowoff momentum top. I suspect buyer's remorse will set in fairly soon.Continue...Read More
Danielle DiMartino Booth spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author of Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America. DiMartino Booth began her career in New York at Donaldson, Luf...Read More