You can’t understand what lays ahead if you don’t understand the past– Satellite, Rise Against Members of my service as well as longtime readers know that I do a lot of analysis based on the past. I am constantly looking at long-term historical price charts and data. As a trader, I am always looking for an edge. Obviously, the keys to long-term success [...]

The following are the latest daily summaries of my ongoing intraday coverage, providing context to interpret price action. Any prices listed are for a contract’s current “front month.” Their direction tends to correlate with any ETFs listed for each. Today’s Highlight: Thursday’s narrow ranging suggested a “calm before the storm.” It began pouring overnight, and Friday’s open was full of thunder and lightning. Gold [...]

On April 17, Buy and Hedge wrote about gold and the technical pattern it was forming. Since then, it has broken through to the downside and continues to support the bearish bias we’ve seen since its high close in late August 2011. The pattern failed to support the Symmetrical Triangle when it dropped down from 1638 to 1600 May 8. Let’s also mention the 50-day [...]

The following are the latest daily summaries of my ongoing intraday coverage, providing context to interpret price action. Any prices listed are for a contract’s current “front month.” Their direction tends to correlate with any ETFs listed for each. Today’s Highlight: Thursday’s highlight was its lack of highlights. Even the long bond’s drop on claims and recovery on auction finished the session almost unchanged. [...]

MINYANVILLE ORIGINAL Continuing Q1 earnings season for the gold majors earlier this week, Kinross Gold (KGC) reported results that missed analyst expectations, but the company says production at its Tasiast mine is expected to improve in the second half of the year.   Kinross announced reported net earnings of $105.7 million, or $0.09 per share, down from $250.1 million, or $0.22 per share in the [...]

The following are the latest daily summaries of my ongoing intraday coverage, providing context to interpret price action. Any prices listed are for a contract’s current “front month.” Their direction tends to correlate with any ETFs listed for each. Today’s Highlight: Gold’s long-outstanding target was met at Wednesday’s gap down. Can currencies continue their recent runs while gold retraces? Dollar Basket [...]

Recently, the folks at Berkshire Hathaway (BRK-A) have talked down precious metals. Warren Buffett and Charles Munger (two titans of the stock investing world) had made some unkind remarks about precious metals in general and gold in particular.   I have tremendous respect for them (who doesn’t?), and I think that if the topic was “long-term stock investing,” then few (if any) stocks could match [...]

As the gold stocks continue to fall to new lows and struggle to find a bottom, it is important to keep things in perspective. Before I get to the visual comparison with the 1960s and 1970s, I want to touch on the reasons why the gold stocks have underperformed in recent months and years.   First, the sector had a terrific run that would have [...]

Friday saw heavy selling pressure coming into risk assets, specifically equities and oil. However, the real driving force behind the selling pressure is likely the result of several unrelated economic/geopolitical events. Clearly the unemployment report had an impact on price action, but strangely enough, it would appear to those more in tune with reality that market participants want lower prices so that the next quantitative [...]

It was Bob Prechter of Elliott Wave fame, likely among others, who noted that correlations between all asset classes are quite strong during a depression. This is true in a cyclical sense but not in a structural sense. Stocks tumbled in the 1929-1941 period while commodities, led by gold and gold producers, increased in value. We’ve experienced similar phenomena in the past 12 years. Cyclically, [...]