Financial Sense Newshour

Jim is pleased to welcome back legendary technician Ralph Acampora, Director of Tactical Investments at Altaira Wealth Management. Ralph sees the market in a corrective mode, which could last a month or so. He notes divergences in the Transports and the DAX. He sees the US and Japan as the best places to invest, and believes the secular bull is still in the early stages. However, Ralph sees the bond bull-market in the 9^th inning of its long 30 year run. Also in this segment, Ryan Puplava wraps up this week in the markets, Erik Townsend discusses gold and commodities, and Rob Bernard looks at bonds and interest rates in the Fixed Income Report.

In this segment of the Big Picture Jim looks at the large decline in gold and silver, and gets into the reasons behind the carnage, as well as the huge difference between “physical gold & silver” and “paper gold & silver”.  Jim notes that investors should know why they own gold, understand it, and then leave it alone. Also, Kathy Derbes CFA, and CEO of KDerbes Precious Metals LLC, joins Jim in this segment. She notes the current record buying of physical precious metals, last seen during the Lehman crisis, and says her firm is “completely out” of Silver Eagles. Kathy is not even taking orders for more Eagles, as it may take six to eight weeks or more to acquire them.

Jim welcomes back Dave Lauer, a Market Structure and Technology Architecture Consultant. His most recent work includes public policy with Better Markets and technology architecture with IEX, a new equity market. Previously, he worked as a senior quantitative analyst at Allston Trading and Citadel Investment Group. Dave believes the cops (regulators) are not on the beat, and this puts individual investors at a distinct disadvantage. He sees HFT traders as manipulators of the market without fear of punishment. Dave says the “uptick rule” must be reinstated to protect the individual investor, but the Wall Street lobbying machine convinces both regulators and legislators that it isn’t necessary. With money and influence on their side, the Robo Traders are becoming the Robber Barons of the 21^st century.

Jim welcomes back Kurt Wulff CFA, Independent Energy Analyst at McDep LLC. Kurt and Jim discuss energy equities today and Kurt sees Exxon as the Rodney Dangerfield of oil stocks, not getting the respect it deserves. He sees XOM as a must-own anchor of any energy portfolio. Kurt also discusses other energy equities, such as Encana and Suncor. He notes that Encana is a potential takeover target, perhaps by the Chinese. Energy stocks outside the US have been down lately, and Kurt sees many value opportunities in the energy sector.