13 down, one to go.Say it with me again, over and over until it sinks into the market.That's the unofficial mantra adopted by Texas oil drillers for 2019.Last October, oil companies extracted crude oil from the Texas soil at an incredible rate of 4.7 million barrels per day!If Texas were admitted into the ranks of OPEC, it would rank second only to the Saudis.In the last few months, the Lone Star...Read More
Seaborne iron ore prices jumped above $85 per tonne cfr China on Thursday January 31, with deals for Brazilian fines closing at higher levels after Vale's decision to reduce the output of its southern systems.MB 62% Fe Iron Ore Index: $85.34 per tonne cfr Qingdao, up $2.81 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.18 per tonne cfr Qingdao, up $2.81 per tonne. MB 62% Fe Iron Ore Index-Low...Read More
The empty branches in the trees, the cold winter wind, and snow in the driveway can only mean one thing: football playoffs.I'll duly admit to being a fair-weather fan. If the Mighty Ravens aren't in the annual tournament, I'm not that interested.But they were this year, and how they played has something to say about how winners invest.Football, like the stock market, is a game of matchups. The Rav...Read More
You know the old saying...Money talks, bullshit walks.And nowhere is this more evident than in the legal cannabis space.Earlier this week, New York Senator Chuck Schumer rolled out the red carpet for a Canadian-based cannabis company that could soon end up investing up to $150 million in the Empire State's legal hemp market.That company is Canopy Growth Corporation (NYSE: CGC)(TSX: WEED), and if t...Read More
The tides have turned, dear investor.The great wave of optimism that drove global markets over the past few years has all but receded. Now, pessimism and fear have begun to flow in. And that changes everything, particularly for safe haven assets like gold.Most of the time, gold is a good place to park extra money. That's because prices are generally stable over the long term.Back in 2011, gold pr...Read More
I didn't watch Trump's speech on Tuesday.Nor did I watch the response from the Democrats.To be honest, I was having a great night and didn't want to ruin it by listening to a bunch of lies and misinformation that has become somewhat obligatory for partisan slaves and knuckle-dragging bureaucrats.So instead, I took five milligrams of my favorite chocolate edible and spent the rest of the evening pl...Read More
The price of billet in the Commonwealth of Independent States' (CIS) market moved up by the end of the week after customers in North Africa accepted higher levels in deals.A 50,000-tonne cargo of Russian billet - with increased manganese content - was reported sold to Algeria at $440 per tonne cfr, with freight cost assessed at $15 per tonne and additional manganese at $5 per tonne. This is normal...Read More
Throughout all of the political bickering these days - and it has reached quite the crescendo after the recent midterm elections - we can't help but feel the despair of frustration.Looking with an objective eye toward Capitol Hill, nobody can deny the divisiveness that has grinded our government to a screeching halt.That's just the natural course of things when you have extremes on both sides ramm...Read More
I think it was the great investor Warren Buffett who said, "Find the lie in the market and exploit it."In today's market, that lie is about coal.Coal companies are being forced into bankruptcy due to politics. Ironically, that is great news for investors.Here is what the liberal rag ThinkProgress has to say:The last time U.S. coal consumption was this low, Jimmy Carter was president.Despite campai...Read More
Steel billet import prices in Egypt increased this week on higher offers, and the market is expecting rebar prices to increase as well, sources told Fastmarkets on Thursday January 31.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $450-455 per tonne cfr on Thursday, rising from $425-440 per tonne cfr last week.Billet producers in the CIS were offering material to Egy...Read More
By: Stefan Gleason, Money MetalsDuring the lackluster and otherwise unremarkable trading of 2018, a hugely important development took place in the precious metals markets. Gold production, in the estimation of some top industry insiders, peaked.Peak gold represents the point at which the total number of ounces being pulled out of the ground by miners reaches a maximum.It doesn't necessarily mean...Read More
By: Gary ChristensonGold prices (weekly chart) formed an impressive inverse head and shoulders formation during a five-year base. Gold prices, which bottomed in December 2015, should climb the wall of worry.WHAT WALL OF WORRY?Really? You have to ask? Financial, stock market, debt and political worries come to mind:Global debt is about $250 trillion. The lenders expect to be repaid plus interest....Read More
By: Gary TanashianAs the stock market cracked on October 10th we noted...Looks Who's Holding Firm Amid the Carnage; the Gold MinersAnd sure enough the GDX bottoming pattern noted in that post (and before that in an NFTRH subscriber update) played out perfectly amid the stock market carnage going on all around it.Was I trying to predict something? Of course not. I was just following general rul...Read More
By: David HaggithFederal Reserve Chair Jerome Powell placed his put in stocks while saying there is none. When he doubled down today on a more dovish approach to the economy, Powell claimed the Fed is not designing interest rates to keep the market climbing. If that is true, recession must be near:Fed delivers a "double-barrel dovish blast" The Fed sees recession dead ahead. You have only that...Read More
Well, there you have it: the most brazenly bogus rally in the history of the world. Are these guys good, or what? The fix was in even before Powell declared Wednesday afternoon that the Fed would be "patient." (Now there's a word that will reverberate through history!) AAPL's and Boeing's handlers had already gotten the jump on the Fed chairman's latest PR mutterance, deftly engineering respec...Read More
2019 is going to be a windfall year for you.You're going to make a lot of money this year - possibly more than you ever have in your entire life.I'm not kidding. You're going take your wealth to an entirely new level this year.So... how are you going to do that?Easier than you think: You're going to change your perception about most things in your life. And it starts right here, right now...Say th...Read More
Iranian export billet prices picked up over the past week as suppliers managed to achieve higher sales prices amid the uptick in the global billet market. Several cargoes of Iranian billet for March shipment were sold to Asia in the week to Wednesday January 30 at $360-370 per tonne fob, up from $350 per tonne fob a week earlier. Iranian billet suppliers followed the trend in the global marke...Read More
It's the dumbest New Year's resolution I've ever heard."This year, I'm going to start investing and start getting rich!"You know what kind of people make New Year's resolutions like that?Poor people!Why would anyone "wait" to get rich?If it were the middle of summer and you figured out a way to more than double your money on a single stock, would you wait until the new year to buy that stock? Of...Read More
David Stockman, former congressman and budget director for President Reagan joins Sprott Media's Remy Blaire at the NASDAQ MarketSite. Stockman discusses the premise behind his book, Peak Trump: The Undrainable Swamp And The Fantasy Of MAGA.David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, S...Read More
Stephen Roach, former Morgan Stanley Asia chairman and Yale senior fellow, joins "Squawk Alley" to discuss potential progress on a trade deal between the U.S. and China.Stephen S. Roach, former Chairman of Morgan Stanley Asia and the firm's chief economist, is a senior fellow at Yale University's Jackson Institute of Global Affairs and a senior lecturer at Yale's School of Management. He the autho...Read More