Agree - people are not seeing the big picture and just caught up in the moment with yesterday's news on Canada fire. The bigger picture is a slow U.S. economy just as Saudi Arabia, Iran and Russia all increase their respective oil productions levels. Its a perfect recipe for a Huge Oil Dump.
with the "FED OUT OF BULLETS". So you can now add the Good Old USA heading into slower economy/recession with China, Japan and Europe all in a "recession" hand basket. And unfortunately for the Bulls - "no more easy money" to print. Sure Looks Ugly short term and long term.
as non-farm payroll numbers will show the U.S. economy is falling into recession while the Ft. McMurray fire becomes yesterday's news. No rate hike until (late this year) if then so Gold has no where to go but UP.
Alberta-fueled oil rally is just a brief rebound and nothing sustainable. Oil back to high $30's soon as chief market strategist at FXTM, Hussein Sayed warned investors. "Don't get too excited about a sustained spring rally. In a note headlined “[I]f history repeats itself, get ready for an oil selloff,” he pointed out that the adage “sell in May and go away” appears apt for the oil markets this year.
This fire was "HYPED" as if all of Canada was up in flames. Come Monday next week everything back to normal while Saudi Arabia, Russia and Iran all keep pumping oil to the MAX.
Cooler weather and possible rain forecast for the Canadian city overwhelmed by wildfire offered hope on Thursday that controlling the blaze could become easier, after worsening conditions forced new evacuations south of town. And according to recent reports wild fires might be controlled by weekend,
Cooler weather and possible rain forecast for the Canadian city overwhelmed by wildfire offered hope on Thursday that controlling the blaze could become easier, after worsening conditions forced new evacuations south of town. Fire officials now feel they will have the wild fire under control by Saturday if not earlier.
Buy the rumor (oil) - sell on the news (fire out) - oil sell off coming
Gold bulls have largely pinned the metals rally on negative real interest rates in much of the world. Michael Armbruster, principal with Altavest, said gold at $1,400 an ounce in the next month would not surprise him.
by Wednesday on this news -
Investors are flooding back to precious metals this year as risks to the global economy prompted the Federal Reserve to signal it will take a slower approach to further interest-rate increases. That has weakened the dollar and added to the appeal of owning non-yielding assets like gold. And remember goldbugs - we're just in the second inning of a big Gold Push Higher. So BUY and HOLD is your goal for 2016 and possibly 2017.
Kinross Gold Corp stock ready to double as gold and miners all stand up and SHINE. Best Mining stock under $10 a share with solid management and zero debt.
Yes and this (upward) trend will continue for quite some time. Best Miners of the Lot - KGC, ABX and GDXJ. All three set to double this summer (if not earlier).
as Iraq government craters in front of our very eyes. Gold has no where to go now except UP as Middle East fragments while China Bubble burst now weeks away. Throw in crumbling economies in Japan and Europe and you know the precious metal will soon test "new" all time HIIGHS.
and so it begins (over and over and over again) as the Middle East tips into total anarchy as Gold Rockets Higher. Not sure what rockets higher tomorrow Gold or Oil - But at market open I'm putting my money on Gold since it now heading back to $1900 an ounce or higher.
as gold continues to ramp higher as world economies either crumble or slow while the dollar gets beaten down. Now the only question is when do we hit $10 a share? End of May or early June?
Good post and all of your points are "spot on". There are many gold bugs that missed this precious metal jump and now wishing/dreaming to buy in at a lower level and then go long. Not going to happen as the dollar will continue to weaken as the Fed sits on their hands in June and says "Not sure when we raise rates".
And now you're see gold buying picking up in India, China as jewelers buy in now before Gold breaches $1500 an ounce..
Gold, silver extend gains on global cues, jewelers buying. Bullion traders said sentiments remained bullish on the back of a firming trend overseas as the dollar tumbled to a 11-month low after the Bank of Japan unexpectedly held off on expanding monetary stimulus, boosting the appeal of alternative assets. In addition, continued buying by jewelers and retailers to meet the ongoing wedding season demand supported the upside.
and I have to say there are very view weekends you want to hold Tvix or Uvxy over but now with Major Blue Chips all reporting losses, month of May here and 45 - 50 days from Fed Rate Hike - well its a no brainers not to Go Long TVIX. See you all at $5 plus come Monday.
Be patient Grasshopper as investors cash out this afternoon - knowing Monday, next week is when we get the real sell off begins. Tvix might just hit $4 going into close.
Russia has said it will push up oil production to record highs so now we see who can pump the most oil going forward. Iran, Russia or Saudi Arabia. I put my money on S.A. and uwti at $19 a share sometime next week.
So look out below (Oil Long). And as we all know the market doesn't react well when oil starts dropping as Saudi Arabia, Iran and Russia all Put the Petal to the Metal and PUMP OIL LIKE THERE IS NO TOMORROW.