Golden Crystal. Whether you buy breakouts (difficult) or price weakness (best), it is important to keep your charts simple and clear. Here’s the Gold Bullion Chart at around 3am this morning.
Rare earth metal miners were roaring this morning with many of the Market Vectors Rare Earth ETF component holdings up double-digit percentage points. On my daily volume breakout screen, 5 of the top 16 volume breakouts were in rare earth/strategic metals miners, including: China GengSheng Minerals Inc (CHGS), Avalon Rare Metals Inc (AVL), General Moly Inc (GMO), Rare Element Resources Ltd (REE), and REMX (the Market Vectors Rare Earth ETF itself).
Oh boy is 2011 going to be an exciting year! Some things that I think might happen: volatility is going up across the board, gold will be higher a year from now, copper will continue to rise, Spain will be the next sovereign debtor that falls prey to the market, the US will have a full year deficit of 1.4 trillion, QE2 will be the last, oil will rise to $130 in the next six months,...
What is so rare as a day in June, the poet asks? The answer..a sector in play, on a perfect day. The rare earth sector is experiencing an explosion of investment interest as China continues to place restrictions on Rare Earth Oxides (REO).
Small but very telling structural changes continues in this week’s Commitment of Traders report, once again highlighted by another drop in adjusted Net open interest. Another telling line item, is the net short position of the 4 largest commercial traders, which is dominated by JP Morgan, dropped 5.9% to a net short position of 39,647 from 42,167 contracts week/week.
The disappointing housing news of December 28, 2010 gives the Fed more cover to complete the full allotment of QE2 bond purchases, which in turn should help boost weak dollar assets like gold, silver, and copper.
Policy-makers are deliberately devaluing their currencies, which is creating all sorts of distortions. Market ratios can be the lenses which clarify – the de-mister, if you like.
Today, at the North end of the Florida Gold Coast, in the Town Center Mall in Boca Raton, FL (translates to Rat's Mouth), there was a first in the USA.
This is our last chance to chat in 2010. All the best to you and yours and here’s to a fantastic 2011! 2010 certainly showed us what it was made of. This definitely wasn’t one of the prettiest years in the market, but we all have to be pleased with the resiliency the market displayed this year. At times it appeared that this was going to be one of those years. April highs gave way to a series of problems in Europe that ignited a debt crisis that put all of our portfolios under pressure.
