Archive for November, 2007
Gold New High: $830
November 7th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The shorts are being decapitated right here. I’ve got the chart open right now. No stories yet. If the shorts tap the mat and start to cover… Well, the chart will be suitable for framing. Even more suitable for framing, I […]
Possibly More Good News for Gold Bugs: Sentiment Remains Lukewarm
November 7th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. I’ve speculated that maybe we were seeing the public participation phase on gold. Well, maybe not. Maybe not even close. Excellent article here. Sums up a lot of late breaking information, and previous concepts covered on Cryptogon re: contrarian indicators. Via: […]
Foreclosure Wave Sweeps America
November 6th, 2007Via: BBC: A wave of foreclosures and evictions is about to sweep the United States in the wake of the sub-prime mortgage lending crisis. This could destabilise the US housing market and may also lead to further turmoil in financial institutions, who collectively own $1 trillion (£480.6bn) worth of sub-prime debt. Cleveland, Ohio, is an […]
EMERGENCY: DOLLAR
November 6th, 2007Europe might try to stop it here. EUR/USD over 145 is an emergency situation for them. I don’t know what their plan is, but expect them to try it soon. USDX is a hair over 76. They’ve got to do something right here. Via: Bloomberg: The dollar fell to a record low against the euro […]
Gold Bulls Gain Momentum
November 6th, 2007Gold has broken up and out of its 1 hour channel. The dollar is falling apart even more. Via: Reuters: Gold futures traded at their highest level in nearly 28 years on Monday, as renewed turmoil in the credit markets boosted the metal’s safe-haven appeal after Citigroup said it will have to write off up […]
Markets Fear Banks Have $1 Trillion in Toxic Debt
November 6th, 2007Via: Financial Times: A new phase in the credit crunch, one of “$1 trillion losses†seems to be dawning. The crisis at Citigroup and renewed doubts about some of the world’s leading banks disquieted stock markets on both sides of the Atlantic yesterday, with the fractious mood set to continue. The FTSE 100 fell 69.2 […]
Investing in Oil, Food, Alternative Energy, Gold or Water? Yes, All of the Above
November 6th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Over a roughly 24 hour period, I received four emails from readers with questions about investing in oil. (Has there been some specific event in the media that has touched off a lot of interest? Just curious. I don’t have a […]
Giggling Robot Becomes One of the Kids
November 6th, 2007Via: New Scientist: Computers might not be clever enough to trick adults into thinking they are intelligent yet, but a new study shows that a giggling robot is sophisticated enough to get toddlers to treat it as a peer. An experiment led by Javier Movellan at the University of California San Diego, US, is the […]
PetroChina: First Firm Worth $1 Trillion
November 5th, 2007Via: AP: PetroChina became the world’s first company worth more than $1 trillion on Monday, surging past Exxon Mobil as the Chinese oil producer’s shares nearly tripled in their first day of trading in China. State-owned PetroChina Co., a unit of state-owned China National Petroleum Corp., is the country’s biggest oil and gas producer. Its […]
Saudi Prince Loses $4 Billion on Citigroup
November 5th, 2007Priceless. Via: Telegraph: The lift in Prince AlWaleed bin Talal’s Saudi Arabian Kingdom Holdings building has just two buttons. One is marked “ground floor”, while the other says, simply, HRH. AlWaleed is Saudi’s most famous businessman, a nephew of King Abdullah, the grandson of a former prime minister of Lebanon and a friend of Charles […]
