Articles Archive for June 2010
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Source: Gary Varvel, June 27, 2010.
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By Cees Bruggemans, Chief Economist of FNB.
After the global growth collapse of 4Q2008, also badly hitting South African exports and domestic order decisions, the 2009 growth rebound was V-shaped.
Not only did the whole world act fiscally supportive, some (US, UK) doing so with war-like emergency budget deficits in excess of 11% of GDP.
Central banks similarly went to action stations, with all cutting rates (some near zero) while many major ones engaged in bond buying.
It was massive, impressive and convincing, resulting in many private agents canceling their panics.
Even so, the world …
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Take note of the article below posted right <a href="http://inthemoneystocks.com/n_rant_and_rave_blog_single.php?id=8284″>here on this very blog on June 25th, 2010 3:15pm Eastern Time. NEM, GOLD, NEM, all hit the upper resistance levels alerted in the post and sold off from those levels perfectly, as expected by our Chief Market Strategist and profited by subscribers. Join the Pro’s, become a subscriber of the Elite on Wall Street. Learn from the Pros, profit for life.
Gold Miners Do it Again
The gold mining stocks are on the move the today. The Market Vectors Gold Miners ETF …
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The markets gapped lower today. Note on the chart below, how the last candle yesterday closed below the blue key trend line signaling this possible massive move lower. The SPDR S&P 500 ETF (NYSE:SPY) are down 3.33% on the day, a massacre to say the least. Worries that China is dramatically slowing caused the Shanghai Index to drop over 4% last night. Europe also started to panic of issues in Spain with the banking system and Greek protests and strikes.
While a majority of this selling is off of the …
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The House of Representatives failed to get enough votes to continue unemployment benefits for about 1.7 million people who are due to lose their benefits on July 3rd.
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Gainers:
JAV +57.97%
EDZ +11.13%
FAZ +10.21%
TZA +10.16%
CWLZ +10.07%
Decliners;
IDN -22.38%
BKS -17.06%
NATR -15.15%
SPMD -12.18%
CZM -13.47%
Market Comments »
Crude oil futures ended the session on the downside. Crude for August delivery ended down $2.31 at $75.94 a barrel.
Market Comments »
Gold futures ended the session on the upside. Gold for August delivery ended up 0.3% at $1,242.40 an ounce.
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The SPDR Gold Shares (NYSE:GLD) have rallied shortly after the opening bell today. Often when panic or fear hits the market gold will rally as a safe haven play. Today the major indexes are all getting crushed as bad news from Asia and Europe weigh on the markets. As we say gold is a double edge sword it moves higher when central banks inflate the markets by printing money and it also trades higher when fear sets in. It is important to note that gold will and could decline should …