Gold is trading above $1900/oz once again, pushed up by continuing financial turmoil in the Eurozone, weak US economic data and strong words from a voting member of the FOMC who reiterated his conviction that the Fed should continu
Bear's Lair
Bear Markets always follow Bull markets and a severe stock market correction is long overdue. Bears Lair will spot, monitor and analyze the stock market correction as it develops.
Gold has been rocketing up to and through the price levels that we laid out many months, ago, though a couple of months later than we had expected. This is the equivalent move for Gold that we have recently seen Silver making.
The current strength in the gold market is remarkable. Let's look at gold's Bear's Eye View (BEV) from its credit crisis low of 23 October 2008.
Now that Mr. Bernanke's speech is old news, what was the financial media thinking exactly?
It was another week of watching and sitting for the swing trading portfolio.
Fear is the greatest buy signal ever seen in the stock markets. This overpowering emotion flares fast, driving excessive selling that rapidly hammers stock prices down to irrational oversold levels.
It was another absolutely madly volatile week, especially as we moved to the end of it. It's a day-traders bliss, but I'm not a day-trader. It's not an easy way to trade, and every tick counts.
Gold is now running up through the series of price targets that we laid out early this year, though a couple of months later than we had originally expected.
Gold has enjoyed an amazing rally in recent weeks, catapulted higher by the extreme fear sparked by the sharp stock-market correction.
"No country upon earth ever had it more in its power to attain these blessings than United America.
The past few weeks traders and investors have been completely spooked from the surge of negative news and collapsing stock prices. This fear can be seen by looking at the volume on the GLD gold ETF fund.
Gold has shown impressive strength over the past couple of weeks having risen as high as the $1800 area.
To say it was a volatile week would be an understatement. Wild, fast swings of 400 points or more in the Dow is something we rarely see. In this type of market avoidance is the goal for most including us.
With the plunging stock markets terrifying traders, many are running for the hills. Steep selloffs always generate intense fear, a scary emotion from which we humans are naturally hardwired to flee.
I didn't get the chance to get to the free weekend letter this weekend and I apologize, but in my defence it is summer and the sunny days have been few and far between this year so with family and friends home I couldn't resist tak
It's sure been an exceptionally-ugly week in the US stock markets! The threat of Washington defaulting on its debt, worse-than-expected economic data, and the waning of Q2 earnings season conspired to wallop equity prices.
I had two purposes in writing today's commentary. The most obvious intent is to help people avoid committing financial suicide in our real estate markets.
All numbers and calculations are destined to turn to zero unless they are underwritten by philosophical underpinnings which themselves have values as well as clear cut, realistic and sustainable strategies.<
Over the past seven trading sessions we have seen stocks plummet in price because of the debt issues in the United States.
Back in Mid-May of this year we had a big rally in the Dollar and Gold was correcting hard. There was a bit of Dollar Bull hysteria at the time which I felt was quite unfounded.
"A fondness for power is implanted in most men, and it is natural to abuse it, when acquired." -- Alexander Hamilton
The week was owned once again by talk of a debt ceiling. The markets didn't like it and had a pretty hefty fall and annulled any bullish pattern they had.
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A one-ounce gold nugget is rarer than a five-carat diamond.
