Loading ...Typically, we would like to see more capitulation and consolidation in a sector prior to investing in that sector. There is a real change (sense big players are still bearish on gold) that gold prices continue to go down dragging IAGs price with it. However, with the government shutdown seemingly in the bag, waiting is a luxury which we do not have. Today is probably the best day to buy gold stocks and IAG is the best one to own! When some of the big boys realize that they should be buying gold and gold stocks, the price move upward will be violent. Like always, we recommend you don’t take our word for it and do your own research. […]
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By Friday, the only news that mattered was the Special Olympics event in Washington. Equities ended the week lower due to the shenanigans in Washington. The Senate passed a bill that funded both the government and Obamacare. The House however has made it clear that it would not pass a bill that included Obamacare. […] Only Gods chosen Lloyd Blankfein was sure of something. He adamantly clarified how banker’s bonuses were not only DESERVED, but was what made Goldman Sachs survive the 2008 financial meltdown. Many would like to adamantly clarify and educate Little Lloyd, it was Goldman Sachs participation (and “shitty” deals) that caused the financial collapse. What saved Goldman was Hank Paulson (X-Goldman CEO) honoring AIGs contracts with Goldman Sachs at 100% and the government bailout of the banking industry (which the public did not support). In fact, had the government stepped in earlier and saved Bear Sterns and Lehman Brothers, Goldman Sachs would have lost a fortune betting on the collapse (which they caused and cheered for). Oh, if the public only knew the truth, I’m afraid the streets of New York lampposts would be decorated, dangling with Goldman Sachs employees. […] The big news however (at least for the next 5 and a half days) is the incompetence in Washington. Instead of attempting to solve the perceived problem (the debt ceiling fiasco) or the real problem (distribution of wealth), to politicians are reading children’s book. What is it with those guys and children’s book? What they should be reading is Les Misérables by Victor Hugo. “If I speak, I am condemned. If I stay silent, I am damned!” […] Today the market is opening slightly higher. The good news out of Europe is that Germany’s Queen Merkel still rules. We are convinced (not really) that Merkel will lead Europe to recovery! But as always, I’m sure our politicians in Washington will derail the market with their incompetence. […] On Thursday the market reversed and ended the day lower (except NASDAQ). The enthusiasm driving by the Fed decision to not taper QE was replaced by the realization that the Fed sometimes lies. Nothing affects traders more than uncertainty, and the Fed served up a nice dose of it on Wednesday. Now investors are left wondering if Ben Bernanke has started a trend (Do bankers lie?). The answer to that question came sooner than expected when yesterday India’s Raghuram Rajan hiked the interest rates to 7.5%, again shocking the markets. […] |
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