In an interview on CNBC, John Boehner, Speaker of the United States House of Representatives, accused Federal Reserve chairman Ben Bernanke of generating the market sell-off. In fact, Mr. Boehner actually should’ve thanked Bernanke for the stock market rally that drove the Dow and S&P 500 to record highs. It was only because of the…
We thought it useful to look back at previous serious gold stock drubbings to see just how the current rout compares. Take a look at the chart below of the Barrons Gold Mining Index and you can see that the current rout (in black) has just about reached the depths seen in the 1974-76 downturn…
Interesting article out from the WSJ relaying that short interest in the US is at a 6 year low… Even a 5% pullback in stocks hasn’t provided enough fuel for short sellers to start betting against the market again. Short interest, or bearish bets, on S&P 500 stocks fell to 2.3% of shares outstanding at…
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Tom DeMark The Shanghai Composite Index will jump about 12 percent in coming months as its June slump exhausts sellers, said Tom DeMark, the creator of indicators to show turning points in securities. The benchmark index for Chinese equities will climb to 2,323 after producing a buy signal June 21 on the Combo chart, designed…
Ben Bernanke Well, Ben Bernanke finally had his wits about him when he suggested that the Federal Reserve might begin to taper its bond-buying program by the year’s end, and then end the program altogether sometime in 2014. In my mind, that shows that the Fed is thinking clearly—like it or not, that’s what Wall…
I’m going to be a little lazy with today’s blog, but I have serendipitously come across two charts in the last few days, both of which strengthen my view that a significant top is in place for the major US indices. Before going on, I want to clarify that I don’t believe this is…
Guest post by Investment Contrarians While Fed Chairman Ben Bernanke’s announcement that a reduction in the asset purchase program will begin later this year was not a surprise to me, stocks felt the impact as selling ensued across the board. However, though the S&P 500 did pull back, it is still near its all-time highs.…
While there are of course many aspects of life that keep on getting more and more expensive: house prices, private education and fuel to name a few, it would appear that in the financial world there is one area which is experiencing terminal deflation: advice. Perhaps this is not surprising given the way that, courtesy…
Update – I guess turkey’s do vote for Xmas. We open this blog with the following from the last statement by ENRC’s Chairman – “This request to the Panel was made by the Independent Committee with the expectation that any revised proposal will have regard to the Independent Committee’s strong view that the initial proposal…
