Archive for the 'Economy' Category
OIL HITS $100
January 3rd, 2008Via: AP: Crude oil prices briefly soared to $100 a barrel Wednesday for the first time, reaching that milestone amid an unshakeable view that global demand for oil and petroleum products will outstrip supplies. Surging economies in China and India fed by oil and gasoline have sent prices soaring over the past year, while tensions […]
GOLD SMASHES THROUGH ALL TIME HIGH TO $861.80 INTRADAY
January 2nd, 2008“From a technical analysis perspective, a move above $850 will probably set off buy triggers as shorts move to cover.” —Cryptogon, December December 29, 2007 Ok, support is now $850. Let’s look for consolidation anywhere above $850.
GOLD COULD TEST ALL TIME HIGH TODAY
January 2nd, 2008It was a Guesses for 2008 post, not a Guesses for Later Today post! Sheesh! Congrats to all gold longs. Via: Reuters: Gold swept to a 28-year high on Wednesday driven by surging oil, a weaker dollar and simmering geopolitical tension, making a test of record highs at $850 an ounce a real possibility on […]
Ireland: Stock Market Crashed in 2007
January 2nd, 2008Via: Wall Street Journal: Ireland’s decade-long Celtic Tiger economy not only ran out of steam in 2007, it bled copiously, judging by the woeful performance of its stock market. After faring better than most major global indexes over several years, the benchmark ISEQ index was one of the worst-performing markets in the world this year, […]
Some Guesses About 2008
January 2nd, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. This took me a bit longer to write than I thought it would. Apologies. Here are some issue areas that I think will be interesting to watch in 2008. Economy I don’t see the U.S. Dollar catching much of a break […]
MERRILL LYNCH IN EMERGENCY WEEKEND TALKS WITH ASIAN AND MIDDLE EASTERN SOVEREIGN WEALTH FUNDS
December 31st, 2007“Why is this happening now? Here’s my theory: 31st December is a major day on the financial calendar. If you take a sample of bonds you’ll find that a disproportionate number of them are due for interest and/or redemption on 31st December. Redeeming bonds is very cash intensive, and cash is not freely available in […]
Realty Reality: Housing Prices Are Headed Way Down
December 29th, 2007Via: Los Angeles Times: In 2002, the median price of a single-family home in Los Angeles was $270,000 and the median homeowner’s income was $65,000. With a $50,000 down payment, the annual cost of that house (taxes, insurance and payment on a 30-year fixed-rate conventional mortgage) would add up to about 33% of the median […]
Make or Break: Gold Nears Two Critical Overhead Resistance Levels
December 29th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Thoughts for gold bugs going into the weekend and New Year’s period… Gold was at $822.60 when I put out my last long call a couple of days ago. Gold is around $840 now. Again, the next number to watch is […]
Britain in Secret Talks with the Taliban
December 28th, 2007What percentage of the world’s heroin results from Afghan opium production? 90% How many times does the article below mention opium? It doesn’t mention opium at all. So, in summary: The British Army provided security cordons around meetings between two senior British intelligence officers and leading members of the group responsible for producing the opium […]
Gold: Strong Rally
December 27th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. We’ve got gold in strong rally right now. It’s still range bound, but keep $845 in mind. That’s the overhead resistance. The current move is happening on thin, holiday order flows. I find it interesting that some players see the need […]
