Archive for the 'Economy' Category
Gold: Tactical Assessment
September 29th, 2007Warning: This is not a recommendation to buy, sell or hold any financial instrument. Since many of you won’t know your stochastic from your MACD, I’m going to summarize this right at the beginning. Summary: Use extreme caution if considering adding to long gold positions in the near term. There is a strong possibility of […]
U.S. Federal Regulators Close NetBank
September 28th, 2007Watch those FDIC limits, people. (And in any real crisis, forget FDIC.) While the Federal Reserve and the U.S. Government are eroding the value of your dollars by the minute, at least they’re going to guarantee you 100,000 of the things on deposit. How many loaves of bread you’ll be able to buy with your […]
GOLD BREAKOUT HIGHER
September 28th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. There it is. The U.S. dollar is getting slammed again. USDX stands at 78 even. I’m watching it in realtime and we’ve got EUR/USD printing above 1.42 now. This must be causing a few hairs to be standing on end in […]
Gold Make or Break Right Now
September 28th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Attempting to break higher out of recent range… Goldbugs adjust stops or otherwise lock and load as necessary.
New Home Sales Hit 7-Year Low
September 27th, 2007The whole show is rigged to blow. Via: CNN: The pace of new home sales fell to a seven-year low in August, according to a government report Thursday that showed the battered housing and home building markets even weaker than forecasts. New homes sold at an annual pace of 795,000 in August, according to the […]
U.S. Dollar Holders Getting Decapitated
September 27th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The U.S. Dollar Index is below 78.20 now. This morning, bond traders have priced in a 90% chance of ANOTHER Fed rate cut in October. My guess is that the Fed knows about that ARM reset chart I referenced yesterday. Goldbugs, […]
Lehman Brothers Forced to Juggle Some of Its Own Hand Grenades; Where Are the Rest and When Will They Blow?
September 26th, 2007When the Wall Street Wizard couldn’t unload his mortgage backed securities anymore, he started to scrap bits and pieces his weirder paper generating machinery: Finance America: Gone BNC: Gone Aurora Loan Services: Uh, what’s left of it will see a name change Lehman Brothers bought these firms because they generated paper, and lots of it. […]
U.S. Homes Post Steepest Price Drop in 16 Years
September 26th, 2007This is what traders call, “The Big Mo.” Momentum. See these old stories on Cryptogon where I described this in more detail: Home Sellers Learning Day Trading Skills Home Sellers Learning Day Trading Skills (Continued…) Via: AP: The decline in U.S. home prices accelerated nationwide in July, posting the steepest drop in 16 years, according […]
Quick Magic 8 Ball Update on U.S. Dollar Index
September 26th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The USDX has breached 78.33 and made a feeble attempt at bouncing above that critical point. It has now slipped back under 78.33 again. I have no idea whether it’s going to bounce or collapse, but I have seen this happen […]
Finally: Amazon’s MP3 Store
September 26th, 2007I might have titled this story, “If You Can’t Beat ‘Em, Sell ‘Em DRM Free MP3s.” Years ago, when Apple released iTunes, I looked at the DRM involved and said, “Not only no, f*@% no.” I’m really glad to see an alternative to Apple’s Tamper Proof Vending Machine reality. Of course, I’d rather just pay […]
