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The Market Oracle
Financial Markets Forecasting & Analysis Website
Stock Markets Time to Dance or Time to Drop
8 Feb 2010 at 3:22pm
"Patience is power; with time and patience the mulberry leaf becomes a silk gown." ~ Chinese Proverbs, Sayings of Chinese Origin
US Bankruptcies Rise 7% Year over Year
8 Feb 2010 at 3:18pm
Despite enjoying 2 full quarters of 'recovery', and coming off a hefty 5.7% GDP quarter - the reality is not so happy down on Main Street (business). Keep in mind the year over year comparisons are versus the period of time (fall 2008/winter 2008-2009) when the recession was at its deepest, so to see continued "growth" in this area is certainly not a green shoot. However, I am sure it can be explained away as all bad news is... let me think of an appropriate head in sand response. Ah yes... let's throw this on the pile of "it's a lagging indicator". Via Reuters:
Stock Market Bounce No Follow Through...
8 Feb 2010 at 3:10pm
And that's what everyone was expecting after that wonderful hammer on all the critical index charts in the last hour on Friday. The S&P 500 touched the 200-day exponential moving average at 1046 (1044 print) and then burst higher. It was the first test in an extremely long time and after losing the 20- and 50-day exponential moving averages, one would think that whichever index got down to the 200-day exponential moving average first would give the market a quick blast higher and that's what happened.
2010 Global Economic Growth to Disappoint
8 Feb 2010 at 3:08pm
Before we get to this week's Outside the Box, a quick note about my writing on Greece in last Saturday's letter. I made the point that if Greece defaults it does not necessarily mean they have to leave the EU, any more than if Illinois defaulted they would have to leave the United States. Greece could still use the euro and life could go on. EXCEPT. The markets would no longer lend the Greek government money at anything close to a livable rate. Greece would be forced to balance its budget. Since they are part of the euro, devaluing the currency is not an option. The results of controlling their fiscal deficit would not initially be pretty and would almost insure a serious prolonged recession or depression in the Greek area, with fall out in the region. It would be a sad decade for Greece. But in the long run, it is a better option than default.
Gold Price Suffers From Lack of U.S. Money Supply Growth
8 Feb 2010 at 3:01pm
The great blizzard that rolled across the eastern United States this past week should have served as an icy funeral pyre for the Global Warming Scam. Charles Ponzi was a rank amateur when compared to the attempt by climate evangelists to extract money from the gullible public. These would be weather Madoffs dream of the money extracted from the public by Keynesian economists, the clear champions of money Ponzi schemes. Money that appears to have been squandered.
U.S. Congress More Spending is Always the Answer
8 Feb 2010 at 2:54pm
Last week, the House approved another increase in the national debt ceiling. This means the government can borrow $1.9 trillion more to stay afloat and avoid default. It has been little more than a year since the last debt limit increase, and graphs showing the debt limit over time show a steep, almost vertical trend. It is not likely to be very long before this new ceiling is met and the government is back on the brink between default and borrowing us further into oblivion.
Fear, Gold and the U.S. Dollar
8 Feb 2010 at 12:43pm
The U.S. dollar was up last week against the euro out of fear of how debt problems in Greece and elsewhere in Europe will be resolved, and as a result gold had a tough week.
Stock Market Massive Head and Shoulders Bearish Price Pattern
8 Feb 2010 at 12:31pm
Major stock market indices put in outside weekly reversals last week, which is a bearish technical indication the intermediate-term trend may have finally rejoined the primary forces that would see prices far lower were it not for official intervention. And although this intervention is now getting talked about in the press in a more intelligent fashion, even if only on a very limited basis, it should be understood most remain oblivious to what makes the stock market world go round.
Stock Market Searches for Direction on Rudderless Monday
8 Feb 2010 at 7:42am
A choppy whippy day but US stocks rose Friday, with the Dow Jones erasing a 167-point drop in the final hour of trading, on speculation the European Union may propose a solution for Greece’s budget deficit. Oil, gold and copper rebounded, and the dollar pared its gain. The late day rally has been put down to short covering.
Stocks Bear Market and Crash Bomb Damage Assessment for Key Asset Categories
8 Feb 2010 at 7:32am
This article takes a look at results for important asset categories since several key dates: (1) the approximate October 2007 stock markets high, (2) the approximate March 2009 stock markets low, (3) YTD 2010, and (4) since the January 19, 2010 election breaking the 60% Democrat super-majority in the US Senate.
Electric Cars Materials and Resources Demand
8 Feb 2010 at 7:25am
If electric cars are adopted by the market in the US and abroad, there will be a shift in the relative demand growth rate for certain basic materials.
While global population growth and average global standard of living increases will raise overall materials demand across the board, a move toward electric cars, particularly plug-in electric cars, will change the composition of basic materials demand growth.
The Greatest Money War of All Time
8 Feb 2010 at 7:16am
We are caught in the grips of a great war!
It is not a traditional land or sea war with tanks and battleships.
Nor is it an anti-terrorist, guerilla war for hearts and minds.
A Stern Reality Check for Gold Naysayers
8 Feb 2010 at 6:51am
Needless to say, Thursday was nothing short of an orgasmic day for Gold bears and Dollar bulls. The precious metals complex crumbled along with the Euro, while the greenback was higher. In fact, it was such a bad day that Gold officially lost its safe-haven status, according to CNBC. This was also noted by Elliot Wave and The Business Insider. All proclaimed that Gold was no safe haven.
Greece and Portugal Debt Crisis, Euro An Anchor of Stability?
8 Feb 2010 at 6:10am
The world’s attention is on the fiscal malaise in Greece and Portugal. Just a few months ago, policy makers told banks to shore up their balance sheets with more sovereign debt. However, policy makers around the world have since raced to spend money in an attempt to reinvigorate their respective economies, leading to record deficits. Now everyone appears surprised that weaker countries are having difficulty financing their largesse.
Gold Extremely Choppy, Hit by Fund Liquidations
8 Feb 2010 at 5:43am
THE PRICE OF GOLD reversed an early 0.8% gain in London on Monday, revisiting Friday's finish of $1066 per ounce in what dealers called "lackluster" but "choppy" trade after last week's "widespread liquidation."
European stock markets also gave back an initial rally, while the US Dollar held the Euro near Friday's new 9-month lows.
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Latest news from Wealth Bulletin
Wealth-Bulletin.com ("the Bulletin") is a unique news and analysis service covering global wealth management, its clients and the broader wealth industry.
Rothschild on track for vintage year
Comparisons are inevitably drawn between the corporate finance businesses of Lazard and Rothschild. The two firms uniquely straddle the divide between global investment banks and small, independent advisers, providing strategic advice on mergers and acquisitions, equity capital raising and debt restructuring without offering their balance sheets to underwrite deals.
New investors topple ?Masters of the Universe?
At the top of the credit boom between 2003 and 2007 leveraged buyout firms were all too frequently dubbed ?Masters of the Universe? for the number and value of deals they struck.
Hedge fund managers adopt new strategies
A diversified hedge fund business is often viewed as a way to reduce business risk and smooth out revenues. Yet critics argue a firm runs the risk of spreading itself too thinly, distracting from its core area of expertise and hurting performance. They argue investors should be wary of managers who branch out, and that firms should concentrate on their core strengths.
Crisis CEOs: Where are they now?
John Thain, the former Merrill Lynch chief executive who left the bank following its merger with Bank of America last year, has returned to finance at the helm of embattled lender CIT Group. Here, Financial News revisits the fortunes of other bank chiefs who left Wall Street during the crisis.
Rathbones opens in Aberdeen, hires two
Rathbones Investment Management has opened a new office in Aberdeen and hired two new managers.
Barclays Wealth hires three from UBS
Barclays Wealth has hired three senior bankers from UBS as part of its plans to add to its South Asia business.
Classic Aston Martin up for sale for more than half a million
An iconic Aston Martin, driven by some of the great racing car drives of the 1950s, is being put up for sale by Bonhams and racing car is expected to sell for more than $500,000.
Managers embrace index trackers
An increasing number of wealth managers are making use of index-tracking funds in an effort to boost returns and drive down fees on their portfolios.
European tax amnesties lure back cash
The world is becoming smaller for tax evaders. In the wake of the financial crisis, governments across Europe have been scrambling to raise their tax revenues to help fund budget deficits.
UK multi-family office opens new business in Geneva, recruits JP Morgan manager
The Stonehage Group, a UK multi-family office, has opened a new business in Geneva and appointed Craig Anderson, a former private client specialist with JP Morgan, to head the office.
Germans mull bank-data buys
German officials said they were weighing fresh offers from informants after deciding last week to pay 2.5 million euros ($3.4 million) for the names of suspected tax evaders in what is rapidly evolving into a broad attack on Switzerland's system of banking secrecy.
Deutsche Bank seeks to double Asia private wealth revenues
Deutsche Bank?s private wealth management division and its transaction banking unit each plan to double their Asian revenues over the next three years, Robert Rankin, chief executive of the European firm?s regional operations, told the Financial Times.
BoE committee warns of ?systemic failure? from AIFM directive
Brussels? proposed Directive on Alternative Investment Fund Managers is unworkable and would ?create significant legal uncertainty? if enacted in its present form, a report from the Bank of England?s Financial Markets Law Committee has said, according to a report in The Times.
Brevan Howard poised to launch Geneva office
Brevan Howard has bought premises in Geneva and will open an office there soon, the Financial Times reported, citing a letter to clients by Gunther Thumann, chief executive of the hedge fund?s offshore holding company.
Henderson products to abandon New Star brand name
Henderson, which acquired New Star for £115m (?132m) just over a year ago, will remove the iconic personal finance brand?s name from its products from April, according to a report in The Sunday Times.
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Yahoo Finance Small Cap Podcast
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
Richard McAdoo, Continental Energy (OTC BB:CPPXF)
by franklint@agoracom.com (Agoracom)
1 Feb 2010 at 1:12pm
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
In Episode 121 of the Yahoo! Finance Small Cap podcast, Al O’Grady talks to Richard McAdoo, president and CEO of Continental Energy (OTC BB:CPPXF), a small and aggressive oil and gas exploration company focusing its efforts on making large commercial discoveries and establishing petroleum production in [...]
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Robert Bick, Evolving Gold (TSX-V:EVG)
by franklint@agoracom.com (Agoracom)
19 Jan 2010 at 1:40pm
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
In Episode 120 of the Yahoo! Finance Small Cap podcast, Al O?Grady talks to Robert Bick, Executive Chairman and Director of Evolving Gold (TSX-V:EVG), a company focused on finding multi-million ounce gold deposits in proven gold producing areas in Western USA.
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Stephen Stares, Benton Resources (TSX-V:BTC)
by franklint@agoracom.com (Agoracom)
21 Dec 2009 at 9:30am
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
Episode 119 of the Yahoo! Finance Small Cap podcast features Stephen Stares, president and director of Benton Resources (TSX-V:BTC). Mr. Stares discusses exploration in the Timmins Gold Camp.
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Bruce Carruthers, Q-Gold Resources (TSX-V:QAU)
by franklint@agoracom.com (Agoracom)
9 Nov 2009 at 10:28am
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
Episode 118 of the Yahoo! Finance Small Cap podcast features Bruce Carruthers, president and CEO of Q-Gold Resources (TSX-V:QAU), a Canadian-based mineral exploration company currently exploring for precious and base metals on its extensive Ontario holdings at Mine Centre, and its recently acquired properties near Rainy [...]
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Paul Timoteo, Armada Data (TSX-V:ARD)
by franklint@agoracom.com (Agoracom)
2 Nov 2009 at 8:25am
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
Episode 117 of the Yahoo! Finance Small Cap podcast features Paul Timoteo, president of Armada Data (TSX-V:ARD), Canada’s premier source for automobile pricing data. Mr. Timoteo discusses Armada Data’s Q1 results: revenue up 58%, net income up 244%.
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Robert Cleaver, Goldstake Explorations (TSX-V:GXP)
by franklint@agoracom.com (Agoracom)
20 Oct 2009 at 12:56pm
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
Episode 116 of the Yahoo! Finance Small Cap podcast features Robert Cleaver, director chairman and CEO of Goldstake Explorations (TSX-V:GXP), a Canadian mining exploration, development and production company that explores for precious metals properties in Canada, United States and Australia.
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Eugene Beukman, Bard Ventures (TSX-V:CBS)
by franklint@agoracom.com (Agoracom)
3 Sep 2009 at 12:49pm
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
Episode 114 of the Yahoo! Finance Small Cap podcast features Eugene Beukman, president and CEO of Bard Ventures (TSX-V:CBS), a company that focuses on moly in B.C ? drilling on the Lone Pine Property that has shown high grades of moly.
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Waldo Perez, Latin American Minerals (TSX-V:LAT)
by franklint@agoracom.com (Agoracom)
20 Aug 2009 at 11:35am
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
In Episode 113 of the Yahoo! Finance Small Cap podcast, George Tsiolis talks to Waldo Perez, Interim President & CEO of Latin American Minerals (TSX-V:LAT), a mineral exploration company focused on the acquisition and development minerals projects in under-explored but highly prospective countries of Latin [...]
Richard Hughes, Amador Gold (TSX-V:AGX)
by franklint@agoracom.com (Agoracom)
6 Aug 2009 at 11:25am
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
In Episode 112 of the Yahoo! Finance Small Cap Podcast, Al O?Grady interviews Richard Hughes, president and CEO of Amador Gold (TSX-V:AGX), a multi-metal company exploiting prominent Ontario regions.
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Richard Hughes, Golden Chalice (TSX-V:GCR)
by franklint@agoracom.com (Agoracom)
15 Jul 2009 at 2:38pm
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
In Episode 111 of the Yahoo! Finance Small Cap podcast, Al O?Grady speaks to Richard Hughes, president of Golden Chalice (TSX-V:GCR), a company that discovers and capitalizes on world class gold, silver, copper, nickel, zinc, platinum and palladium deposits.
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Rudi Fronk, Seabridge Gold (AMEX:SA)
by franklint@agoracom.com (Agoracom)
17 Jun 2009 at 1:52pm
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
In Episode 109 of the Yahoo! Finance Small Cap podcast, Al O?Grady interviews Rudi Fronk, President and CEO of Seabridge Gold (AMEX:SA). Third party reports indicate economic pit limits ? 48 year mine life.
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Brian Testo, Grizzly Diamonds (TSX-V:GZD)
by franklint@agoracom.com (Agoracom)
8 Jun 2009 at 1:55pm
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
In Episode 108 of the Yahoo! Finance Small Cap podcast, Al O?Grady interviews Brian Testo, President and CEO of Grizzly Diamonds (TSX-V:GZD), a company that focuses on exploring for diamonds in Alberta and precious metals in North America.
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Dr. Vern Rampton, Kinbauri Gold (TSX-V:KNB)
by franklint@agoracom.com (Agoracom)
1 Jun 2009 at 3:30pm
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
In Episode 107 of the Yahoo! Finance Small Cap podcast, Al O?Grady speaks with Dr. Vern Rampton, President and CEO of Kinbauri Gold (TSX-V:KNB), a company that focuses on acquisition, exploration and development of properties in the advanced exploration and early development stages.
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Michel Cuilhé, La Mancha (TSX:LMA)
by franklint@agoracom.com (Agoracom)
11 May 2009 at 2:07pm
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
In Episode 106 of the Yahoo! Finance Small Cap podcast, Al O?Grady talks to Michel Cuilhé, President & CEO of La Mancha (TSX:LMA), a company that operates three gold mines, with production strategically distributed between Africa and Australia.
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Ian Saunders, New Dawn Mining (TSX:ND)
by franklint@agoracom.com (Agoracom)
5 May 2009 at 12:42pm
Yahoo! Finance and Agoracom features small cap newsmakers and innovators.
In Episode 105 of the Yahoo! Finance Small Cap podcast, Al O?Grady talks to Ian Saunders, President & CEO of New Dawn Mining (TSX:ND), a junior gold company concentrating its efforts in southern Africa.
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