I'll make this brief. If gold closes above $1678.50 tomorrow then that is a bullish 2-bar reversal on the weekly chart which cannot be ignored. Considering
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Scooped by Tom Luongo onto The Truth Behind the Headlines |
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"April 10 was the first trading day in London after the “London Whale” articles were published. When the U.S. Via Graham Jervis Delete the scoop?
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The announcement by the Bundesbank of their intention to repatriate a portion of their gold reserves held in foreign central bank vaults is the beginning of the next phase of not only the gold bull market but the global curre... Delete the scoop?
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I'll make this brief. If gold closes above $1678.50 tomorrow then that is a bullish 2-bar reversal on the weekly chart which cannot be ignored. Considering
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Markets trade off of a strange mix of rumor, hard facts, and innuendo. Delete the scoop?
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The E.C.B.'s latest policy meeting ended with the central bank not bowing to pressure from choking banks to lower interest rates and held the benchmark lending Delete the scoop?
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Tom Luongo's insight:
Bill Anderson does a great job here of explaining just how stupid and nakedly villainous Paul Krugman truly is. I'm sure the sycophants in the NYT comments section are falling all over themselves to kiss his ring... b/c he's so, ya' know, smart and stuff. Delete the scoop?
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The minutes from the December FOMC meeting created a firestorm across the markets this week, which caused rumblings in nearly every market that matters -- from oil to bonds TLT to gold. Delete the scoop?
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Anyone predicting that gold would outperform housing in 2001 would likely have been viewed as being seriously deranged. After all, housing prices had increased for decades and by the peak of the housing market in 2007, real estate was believed to be a "can't lose investment." The mantra that housing values only go up proved to be disastrous for many Americans as the over-leveraged real estate market imploded, shattering the wealth dreams of both naive homeowners and investors.
Despite the trillions of dollars of direct support from ... Via Hal
Tom Luongo's insight:
In 2001, that is exactly what I said. Gold would vastly outperform housing in the long term. I was a neophyte back then and could see the market for what it was. And yes I was called all manner of variations on 'seriously deranged.'
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I'm watching the gold market right now and $1650 has been reached this morning. There is still nearly two full sessions until options expiration tomorrow so Delete the scoop?
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If you watch the Gold market everyday like I do you will begin to notice when the market does things differently than it did recently. For the past 2 months... Delete the scoop?
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A continued assault in the Gold pits today ensured that Gold ended the month of November down $4 over the opening price. For the technical guys out there... Delete the scoop?
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I wish I could say I'm surprised about any of this anymore... but even the magnitude of the desperation seems to have'gone plaid!" Via Graham Jervis Delete the scoop?
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Thanks to the Bundesbank and a request from one of the major political parties in The Netherlands gold was able to shrug off the take down on the COMEX open Delete the scoop?
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The significance of this can not be over-stated. This is a breakdown of trust between Germany and those who have held their sovereign gold reserves for the Delete the scoop?
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The Euro completed an important week of trading last week with a close above the important $1.33 level, which, after the ECB policy meeting and successful Delete the scoop?
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I believe in assessing the fundamentals of a market before even considering whatever trading opportunity it represents. Delete the scoop?
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The commodity complex was firm again today after the latest U.S. oil inventories were released. While this data is more important for the price of West Texas Delete the scoop?
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After posting a, intra-day high at 88.40 last week the Japanese Yen has begun this week by correcting slightly. As I write this the Yen is flirting with the Delete the scoop?
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The ideas CNBC is spreading about the FISCAL CLIFF is just absurd. The addiction to higher stock prices has meant that a failure to get the equity market to rally due to falling off the“CLIFF” prevents quality policy from being attained. Going over the“CLIFF” will at least put spending front and center for we are all sure that taxes are going higher so the discussion must get to a genuine discussion about spending, and yes, that means serious cuts in the bloated defense sector. The FED‘s policy means that monetary policy will support the economy into the medium term and alleviate some of the pain from government spending cuts. It’s not drastic austerity but a realistic plan for dealing with rampant profligacy.
Many pundits and saltwater economists claim the global financial system is not worried about U.S. fiscal policy because the 10-year note yield continues to hover around 1.7%. This argument is preposterous because the price of U.S. debt is meaningless as long as the FED‘s continued QE and large-scale asset purchases (LSAP)continues to badly distort the market. The FED is now purchasing $85 billion a month in Treasury and MBS debt. When you couple that with the continued needs of insurance companies and pension funds, the pricing mechanism for DEBT is badly broken. To exemplify the issue, Bloomberg ran an article yesterday about ... Via Hal Delete the scoop?
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The Euro confirmed last week's breakout with a closing price above the important $1.32 level which improves the probability that this latest move higher is a Delete the scoop?
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Google reportedly avoided another $2 billion in taxes thanks to outsourced banking, which has already dubbed "immoral" and an "embarrassment" in media as austerity budgets reshape Europeans' lives. Via Hal
Tom Luongo's insight:
Good for them. I'm not google's biggest fan but the U.S. government doesn't need anymore of their money to make our lives more miserable while google literally improves everything we do daily. 
Hal's curator insight,
December 11, 2012 1:44 PM
Now why would they do that? Hmm? It is starting to sound to me like businesses in the US are not liking where the politicians are pointing. 
Tom Luongo's comment,
December 11, 2012 8:55 PM
they don't like it one bit. and the capital controls will only get worse, Hal.a
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Another bearish week for Gold as the bears clearly have the upper hand in this market. The Bulls keep digging in their heels at important support levels but... Delete the scoop?
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I know that it must sound like a broken record but this literally happens so often anymore that it is beginning to defy description. After watching a two day... Delete the scoop?
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