In general when equity prices are rising and credit spreads are tightening as is the case presently, the ratio of gold-to-silver prices falls as ‘fear’ ebbs away and confidence in a real economy returns as exemplified by the rise of risk assets. Twice before we have seen the anti-correlation of stocks and gold/silver flip to…
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News that the biggest hedge funds have suddenly turned bullish as the S&P probes new all time highs certainly caught my eye. Typically it is retail investors that rush in at the top while “smart” funds sell into them. Not this time… The options market is sending a message that the market will keep rallying…
If you thought Switzerland or Lichtenstein was the best place to put money your money out of reach from ‘prying eyes’, high taxes and/or seizure perhaps even Panama, the Cayman Islands or in some other beautiful and peaceful small island, then think again. You couldn’t be further from the truth. With the financial crisis hitting…
From today’s FT – ENRC: minorities deserve more: The scandal-tainted Kazakh miner has lurched from one self-inflicted mishap to another in the past year; its share price is the thermometer – down 43%. Now, as the U.K. Serious Fraud Office begins an investigation into the London-listed company, its founding oligarchs have come up with a buyout…
From stockcharts While we tend to focus more on the short and intermediate term, we notice that there is a lot going on in the long term time frame. Most obvious is the breakout above the top of a long-term trading range. The breakout is decisive (more than three percent), so the technical assumption is…
Suleiman Kerimov UPDATE – 8:30AM MONDAY – So, the terms are confirmed this morning. The plot thickens however in that Kazakhmys are deemed to be a “Party to the Offer”. If the Scheme of Arrangement structure is still intended to be used then, re the comment “..for Panel purposes only Kazakhmys is treated as a…
The S&P 500 has now been up an incredible 56 of the last 88 trading sessions so far. That rate of success is not only extremely rare, it is, borderline, unprecedented. Couple of quotes for you from market “pro’s” – “Fifty years of experience suggests streaks ultimately end. For now, stay very nimble.” – Art Cashin…
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