Blackberry shares (BBRY) exploded higher during the final 20 minutes of trading this afternoon on reports of a takeover offer from Samsung: The reported range of $13.35-$15.49 aligns nicely with a technical price target I placed on the shares in December. Given the enormous volume and the power of the breakout from the recent range… Continue Reading

Via Energy and Gold.com: Copper futures dropped as low as $2.42 yesterday evening before rebounding roughly 5%: One of the world’s largest copper producers, Freeport McMoran (FCX), has been hit especially hard (-11%) this morning after copper’s overnight tumble: A slide from a recent FCX investor presentation is particularly telling: Just 2 months they were… Continue Reading

Via Energy and Gold.com Commercial hedgers (“smart money”) are almost always short equity futures to some extent. As a market timing gauge when the commercials move to near a neutral positioning in futures it is usually a good time to get long equities, whereas, when the commercials move to an extremely large short position it’s… Continue Reading

Via Energy and Gold.com This is from the latest Morgan Stanley “Commodity Manual”: This is part of the gold note contained in this report and also happens to be the sort of consensus sell-side research which offers zero  negative value to its readers. Let’s break down the 3 components of this bearish gold outlook: 1. Oil price… Continue Reading

There is a unique confluence of forces lining up simultaneously in the US dollar now: Commercials have a massive short position in US Dollar Index futures while small speculators have never been longer The US Dollar Index is working on its 7th consecutive up month, the longest streak since 2010 which was coincidentally when the dollar put… Continue Reading

Via Energy and Gold.com: Gold miners (GDX) just completed their biggest weekly gain in nearly a year, finishing up 9.35% for the week on above average volume: Today’s rally also moved the goldies back up to levels not seen since the late-October plunge which brought many gold mining shares to below their 2008 Global Financial… Continue Reading

Via Energy and Gold.com It is now a virtual certainty that the ECB will announce some sort of large scale asset purchase program (LSAP) on January 22nd. What’s not clear is the exact size of the program and which assets will be targeted. There is a lot of speculation calling for the ECB to snap up… Continue Reading

Deutsche Bank is out with some compelling slides on the Canadian housing market that should cause any good Canuck to sit up and take notice: There are more slides in the report but the picture is pretty clear. Canada has undergone a tremendous real estate boom during the past decade and prices in certain places… Continue Reading

The past week has been a powerful one for gold and gold mining equities: We saw gold dip under $1170 on the first trading day of the year only to reverse $50+ higher during the subsequent 3 sessions The gold miners as measured by the GDX have begun 2015 with a rip roaring 11%+ rally… Continue Reading

On New Year’s Eve I wrote a post titled “Why I Bought Gold Today” in which I discussed some reasons why I purchased February gold futures and highlighted some of the key technical levels that I was focused on. This morning I exited this trade at $1210 for a $25.70 gain ($2570 per futures contract). This gold… Continue Reading

Gold stocks have been working on forming a bottom since the big October crash which took many gold miners to all-time lows and brought the GDX to below it’s 2008 Global Financial Crisis low. As the sector has begun to move back up during the past couple weeks some charts are breaking out from powerful chart… Continue Reading

An excellent post by the McClellan Market Report on the euro (EUR/USD) prompted me to think about the bigger picture for EUR/USD and what might transpire over the coming weeks. As it stands now the euro is virtually in free-fall against the US dollar with two big eurozone events coming up towards the end of… Continue Reading

This was a very constructive week for the gold mining sector – a few things stand out: The GDX rose 3.84% and the GDXJ rose 6.44% even as gold itself fell .65% on the week GDX made a higher low and a higher high vs. last week and also posted a higher low for the 2nd… Continue Reading

After rallying more than 1000% in the span of two years TSLA is showing technical signs that all is not well. Since topping out in September the stock has hammered out a textbook head & shoulders top pattern (H&S top): Some ‘purists’ don’t like drawing slanted necklines on H&S patterns, one can also place the neckline… Continue Reading

I bought a trading position in gold this morning at $1184.30/oz (February 2015 futures). The final day of 2014 gold dump offered what I consider to be a highly attractive risk vs. reward swing trading entry point in the precious metal: Gold has just gotten through one of its worst periods of the year seasonally and is now… Continue Reading