ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Last week, I mentioned that I had not yet decided on my re-entry strategy for gold and silver. I remain in neutral as gold, silver, and the dollar index churn in various holding patterns (using GLD and SLV as proxies for gold and silver respectively). GLD is right where it was two months ago. SLV … Read more
The week ended with the S&P 500, SLV (a silver ETF), and GLD (a gold ETF) all approaching former 52-week highs. The U.S. dollar dropped 1.3% on Friday, decisively failing at resistance at its 200-day moving average (DMA) and putting an exclamation point on the week’s action. The S&P 500 broke through its last battle … Read more
I was about a month premature and about 19% in missed gains when I flagged the potential start of a parabolic move in silver. Or perhaps my definition of a parabolic move should have been more expansive. Either way, silver’s behavior over the past four trading days definitely has taken on the tipsy look of … Read more
Time for a little fun with gold. As a child of the 1980s, I took particular interest in a fun October 13, 2010, Bloomberg interview with A-Team star Mr. T., the celebrity pitchman for Gold Promise. Gold Promise is a service run by Cash America International, Inc. (CSH) that allows people to sell their gold … Read more
Now that the bearish/selling signal for gold (and silver) seems ready to pass without incident, I thought I would take another look at a sentiment analysis on gold. Since little has changed in the three months since I concluded that skepticism towards gold remained high, I am taking a slightly different spin this time around. … Read more
Talk of currency wars have heated up as several events have converged to make the public increasingly aware of the on-going competitive devaluations around the globe. The increasing clamor came ahead of an IMF meeting Thursday and a G7 meeting this weekend where the topic of global trade and currency rates are hot topics. It … Read more
If an asset bubble is characterized by accelerating euphoria as asset prices rise ever higher, gold is still not in a bubble. The skepticism directed towards gold continues to rise along with its price despite gold marking all-time highs the past two months. I decided to do a refresh of last year’s sentiment analysis on … Read more
“Mish” posted the latest chart from the Investor’s Intelligence Survey, and it shows that bulls are back up to 50% and bears have hit a new low for the year at 16%. (You can directly access two years of data using the chart tool at Schaeffer’s Investment Research). He also noted that bears have only … Read more