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Those Deceptive Charts

Thu, 05 Nov 2009 01:35:29 GMT

I'm going to show you just a few of the charts I've seen bandied about lately supporting the bearish view on gold and miners. The first one is the standard trend break.[More...]

Daily Forex Outlook - Market Plunges, Dollar Soars

Thu, 29 Oct 2009 13:25:27 GMT

U.S. Dollar Trading (USD) was second only to the Yen as markets around the world were deep in the red and risk aversion came back into play. September Durable Goods Orders 1.0% vs. -2.6% previously.[More...]

Bear Flag Breaks In Gold - AEM

Fri, 17 Apr 2009 03:40:26 GMT

A question was ask in the comments about the following from last night's Technical Picture. "Gold might be forming a bear flag, but overall it is in the context of a larger trading range (TF). "Flags" which form within TRs are always suspect." The gold sector/index chart ($XAU) below shows that the bear flag formed above the trend line and at approximately the same price level as recent congestion. [More...]

Daily Report For Tuesday: Apr 7, 2009

Tue, 07 Apr 2009 13:31:58 GMT

(8:05am ET) Stocks closed Monday's session in NY lower on a lightly-traded day, but much higher Week over Week. Through Friday, the major market indexes saw their largest four-week gains in seventy-six years. Now the market is preparing for 1Q2009 earnings season, which gets underway today with Alcoa (AA). On Monday, the DJIA (-41.74 -0.52% to 7975.85), S&P (-7.02 -0.83% to 835.48), and NASDAQ (-15.16 -0.93% to 1606.71) could not make headway against concerns the major banks may be preparing to release negative quarterly reports. The Toronto Composite (-49.59 -0.55% to 9016.17), and Venture Board (-12.42 -1.27% to 963.17) were also down on the day, but higher Week over Week. In international equity markets today, the closing prices showed losses except for Shanghai China (+0.80% to 2439.2): Australia -1.30% to 3648.5; Hong Kong -0.46% to 14929.0; India -1.80% to 10534.9; and Japan -0.28% to 8832.9. At 7:30am ET,[More...]

Daily Report For Friday, Mar 27, 2009

Fri, 27 Mar 2009 13:32:35 GMT

(8:36am ET) On Thursday, the upbeat earnings report of (Cara 100) Best Buy (BBY) served to lift the market at the open. Technologies stocks later were the basis of a closing hour rally. At the close, the DJIA (+174.75 +2.25% to 7924.56), S&P 500 (+18.98 +2.33% to 832.86), and NASDAQ (+58.05 +3.80% to 1587.00) gained for the third day in four this week. The Toronto Composite (+198.06 +2.25% to 8995.50) was in line with NY, but the Toronto Venture Board (+24.98 +2.63%to 974.02) also rallied. In the US equity market, the big winners were the Industrials (XLI +5.4%), Consumer Disretionary (XLY +4.6%) and Basic Materials (XLB +4.0%). All ten sectors were winners, but the laggards on this day were Energy +0.9% and Financials (XLF +1.2%). Within the many industry groups, there were a broad section of technology groups that were on the leader board. Lagging a bit were the Goldminers ($XAU[More...]

Gold:Gold Stock Index Ratio Analysis

Tue, 24 Mar 2009 04:55:00 GMT

Understand the strengths and weaknesses of the more popular gold stock indexes; how ratios operate; the limitations and risks of using gold:gold stock ratios in isolation; how to track the performance of the micro-cap gold mining sector[More...]

Why Gold Bulls Shouldn't Buy Gold Stocks

Sun, 22 Mar 2009 18:43:10 GMT

In light of the recent stories of hedge funds piling into gold and gold related plays (see this and this), I am still shaking my head over the fact that investors were buying gold stocks instead of gold and other inflation hedge vehicles. Maybe the purchase of gold stocks was justified by the analysis of the history of the PHLX Gold & Silver Index (XAU) to gold ratio, which is near all-time lows: [More...]

Gold Indexes: Comparing and Evaluating the HUI, XAU, GDX, XGD and CDNX

Tue, 10 Mar 2009 23:53:00 GMT

An understanding of how differently each gold stock index represents the industry[More...]

Gold Stock Mystery

Sun, 08 Mar 2009 17:54:00 GMT

Further to my last post Bullish signs for the inflation trade, I would also like to point out that Warren Buffett, in the latest Berkshire Hathaway letter to shareholders, also indicated that inflation is likely the effect of the macro policy response to the financial crisis (emphasis mine): This debilitating spiral has spurred our government to take massive action. In poker terms, the Treasury and the Fed have gone “all in.” Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once-unthinkable dosages will almost certainly bring on unwelcome aftereffects. Their precise nature is anyone’s guess, though one likely consequence is an[More...]

Daily Report for Thursday, Mar 5, 2009

Thu, 05 Mar 2009 14:05:00 GMT

Daily Report for Thurs., Mar. 5, 2009 (7:57am ET) Equity markets made steady progress on Wednesday as Energy (XLE +4.8%) and Basic Material (XLB) stocks rallied from the opening bell, giving traders hope that an upside move was about to commence. By the end of the session, the DJIA (+149.82 +2.23% to 6875.84, still down from Friday’s 7062.93 close); the S&P 500 (+16.54 +2.38% to 712.87, still down from Friday’s 735.09); and the NASDAQ Composite (+32.73 +2.48% to 1353.74, still down from 1377.84) showed promise. The Canadian markets were also firm as the Toronto Composite gained +183.13 +2.40% to 7814.75 (down from Friday’s 8123.02 close), while the Venture Board gained just +6.88 +0.83% to 830.95 (down from Friday’s 861.66). Earlier in the day today, Asia-Pacific equity markets were mixed: Australia (+0.73% to 3148.8); Japan (+1.95% to 7433.5); and Shanghai China (+1.04% to 2221.1) were strong, whereas Hong[More...]

Investment Industry Regulatory Organization of Canada - Trade Resumption - AuEx Ventures Inc. - XAU

Tue, 17 Feb 2009 17:14:00 GMT

TORONTO, Feb. 17 /CNW/ - Trading resumes in: Issuer Name: AuEx Ventures Inc. TSX Ticker Symbol: XAU[More...]

Investment Industry Regulatory Organization of Canada - Trading Halt - AUEX Ventures Inc. - XAU

Tue, 17 Feb 2009 16:55:00 GMT

TORONTO, Feb. 17 /CNW/ - The following issues have been halted by Investment Industry Regulatory Organization of Canada (IIROC): Issuer Name: AUEX Ventures Inc.[More...]

Standard & Poor's annonce des modifications a l'indice compose S&P/TSX de croissance - Jul 7 2008 5:33PM

Mon, 07 Jul 2008 21:12:00 GMT

TORONTO, le 7 juill. /CNW/ - Standard & Poor's apportera les modifications suivantes a l'indice compose S&P/TSX de croissance le lundi 7 juillet 2008, apres la cloture des marches :[More...]

Standard & Poor's Announces Changes in the S&P/TSX Venture Composite Index - Jul 7 2008 5:33PM

Mon, 07 Jul 2008 21:12:00 GMT

TORONTO, July 7 /CNW/ - Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Monday, July 7, 2008:[More...]