WASHINGTON (Reuters) - Orders for long-lasting manufactured goods recorded their biggest drop in seven months in March and a gauge of planned business spending rose only modestly, signs of a slowdown in economic activity.
Durable goods orders slumped 5.7 percent as demand fell almost across the board, the Commerce Department said on Wednesday. The drop last month in orders for these goods, which range from toasters to aircraft, followed a 4.3 percent increase in February.
Economists polled by Reuters had expected orders to fall only 2.8 percent. Excluding transportation, orders declined 1.4 percent after falling 1.7 percent the prior month.
shiff is a fear monger trying to sell his book and pump his gold. what you are quoting is old and from his ad for his book. just from that perspective i would not base any trades on it. watch gold drop to $1000. the poorer people get, the more gold they have to sell. and no one has money to buy it. people who bought $800 and lower will start selling, gold could see $300 again.
here's what happened to me. i bot uvxy 6.80 this am, pre market. i put a sale up @ 7.50 and went out the rest of the day. when i got home, my sell executed. it must have been the peak of the uvxy spike. $700 profit booked. just dumb luck.
//During the fourth quarter of 2012, McCormack increased the size of his position in Herbalife HLF +0.70% by 61% to a total of 2.3 million shares. Billionaire Bill Ackman of Pershing Square publicly accused the company of being a pyramid scheme last December (see Ackman's stock picks); the stock is well up from its lows, but still down from where it was before Ackman's presentation and down 49% in the last year. This has left Herbalife quite cheap in terms of financial metrics, with a trailing P/E of only 9. Revenue and earnings have been increasing, and the current dividend yield is over 3%. //
everyone took $ out of realestate and bought stuff. property tax soared and govts bought stuff. there was a delayed reaction, but steel production soared along with the buying frenzy. it has to come back down. now china is hiccuped:
/New figures released by China’s National Bureau of Statistics (NBS) show that the growth rate of the world’s second largest economy has slowed down in the first quarter of 2013.
NBS Monday report showed that China’s economic growth slowed down to 7.7 percent during the period, compared with the previous quarter’s 7.9-percent figure.
This is while the Chinese officials have set the conservative 7.5-percent figure as the current year’s growth target.
While observers have pinned their hope on China’s robust economy as a driver of the global recovery, they said the Monday data along with other recent downbeat figures show a weak prospect for the global economy.
The Monday report upset the investors, pushing the Shanghai Composite Index down more than one percent, and took it near its lowest level since the end of 2012.
The NBS report cited “the complicated and volatile economic environment at home and abroad” as the reason behind the downturn.
It also reaffirmed the commitment of China's ruling Communist Party and government to "making progress while ensuring stability.”
In 2012, China’s economy grew 7.8 percent, marking the country’s slowest growth rate in 13 years.
The new data come on top of last week statistics which indicated China’s USD-880-million trade deficit in March, due to the drop in demand in key US and European markets
Moreover, the statistics predicted that China will also witness weak domestic demand as a result of below-forecast inflation rate.
Last week, Chinese President Xi Jinping expressed confidence over the country’s economic outlook, saying it was in “good shape.”
He noted that although the country may not be capable of continuing its previous “ultra-high speed of economic growth,” a “relatively high//
you got to realize that high coal price was driven by the housing bubble and will probably never see that price per ton again. look at a 15 year chart of coal prices/tonne and you will see it coincides perfectly with the bubble.
obama will get us all killed.
PRESIDENT OBAMA: In this age of instant reporting and tweets and blogs, there's a temptation to latch on to any bit of information, sometimes to jump to conclusions. But when a tragedy like this happens, with public safety at risk and the stakes so high, it's important that we do this right. That's why we have investigations. That's why we relentlessly gather the facts. That's why we have courts. And that's why we take care not to rush to judgment -- not about the motivations of these individuals; certainly not about entire groups of people. (April 19, 2013)
William Charles "Bill" Ayers
In 1969 he co-founded the Weather Underground, a self-described communist revolutionary group that conducted a campaign of bombing public buildings (including police stations, the U.S. Capitol Building, and the Pentagon) during the 1960s and 1970s in response to U.S. involvement in the Vietnam War.
He is a retired professor in the College of Education at the University of Illinois at Chicago, formerly holding the titles of Distinguished Professor of Education and Senior University Scholar. During the 2008 US presidential campaign, a controversy arose over his contacts with then-candidate Barack Obama. He is married to Bernardine Dohrn, who was also a leader in the Weather organization.
if that is true the miners should not have taken a hit, they are nothing but physical, like what they have in the ground.
go to 'the wise investor show' and listen to this pod cast. he got stopped out of abx monday, this guy has good advice.
April 17, 2013: Has Gold Lost Its Luster? Now What? (23:20)//
Roughly half of U.S. homes use natural gas for space heating, and many more have electric heating powered by gas-burning utilities. When temperatures rise, gas demand drops.
That factor leads to stockpile gains every summer. But gas being pricier near $4 per million BTUs, investors may have reason to worry about a bigger increase in reserves.
SOME MARKET WATCHERS are concerned that the rally that took gas to its current $4 level will also lead to reduced demand from utilities. Over the past year, power plants took advantage of low prices and shifted to burning gas instead of more expensive coal, raising demand for the fuel and helping to shrink the U.S. supply glut. There are signs, however, that utilities are already dialing back their move to natural gas.
Teri Viswanath, senior natural-gas strategist at BNP Paribas, pointed to data from the U.S. Energy Department released last week that showed gas usage by electric utilities fell by 0.6 billion cubic feet (the measure for stockpiles) a day in January compared with January 2012.
Ms. Viswanath says that "unexpected weakness" could mean utilities aren't as keen on gas at these price levels, which could mean price declines are ahead. Meanwhile, Credit Suisse analysts are forecasting a drop in electric-power demand of two billion cubic feet per day this summer, which would likely help to push stockpiles higher.
Natural-gas bulls have fought back from decade lows to stage a startling rally over the past year, but it looks like now is the time to declare victory, and to take profits.
DJ-AIG Commodity Indexes
The rally in natural-gas prices looks set to fade.
Futures have surged 23% this year, reaching the highest level in 20 months Friday. But despite the recent gains, many analysts believe that gas futures rose too fast, and are still too high—and ripe for a big pullback.
"Once the cold winter weather passes, we think support is likely to prove flimsy," said Credit Suisse analysts in a research report late last month. The bank recommends that investors start preparing for a price decline.
A blast of chilly weather at the tail end of winter was the primary cause of the rally. March temperatures were colder than normal across much of the U.S., which increased demand for gas-fired heating and resulted in a steep decline in U.S. natural-gas stockpiles.
The drop in inventories removed the biggest weight on prices over the last year and a half—too much supply thanks to vast amounts of the fuel unlocked from shale-rock formations by new drilling techniques, which sharply increased U.S. production. This time last year, U.S. gas reserves stood roughly 60% above five-year average levels—and prices were on their way to a 10-year low of $1.907 per million British Thermal Units, notched last April.
On April 4, the U.S. Energy Department said that stockpiles fell below the five-year average for the first time since September 2011—to 1.687 trillion cubic feet last week, or 2.1% below the average. Natural-gas futures rose 2.5% for the week on the New York Mercantile Exchange, settling at $4.125 per million BTUs Friday. Market analysts are looking ahead to spring, when gas usage by homes, businesses, and utilities typically declines.
Roughly half of U.S. homes use natural gas for space heating, and many more have electric heating powered by gas-burning utilities. When temperatures rise, gas demand drops.//
look at coal collapsing in just a week. we are in serious trouble. almost time to run for the hills and be a farmer. no other way for many other people to survive.
they are closing all the exits. no gold, no interest, no stock, no jobs. food/heathcare/gasoline/utilities/taxes doubling. obama wants you to be a slave to his system.
most likely slv/gld are still shorts. expect a drift down til gld hits $1000, then it may stay there, until some panic event takes place. if they stop qe, it should drop even further as interest rates will make cash in the bank more attractive. i think the metals play is dead.
we will all be best served by developing energy and the overall economy as fast as possible. there is nothing better than an all out bull market. if that occurs, i'll be able to start breathing again. unfortunately, obama has ruined everything and stands to continue to throw sch.it on all of us.
Coal shares got a nice boost yesterday as natural gas rallied and is beginning to reach levels where coal used to be cheaper and Peabody Energy reported a stronger than expected quarter with some positive comments. With the new pollution control standards and all the scrubbing equipment it is difficult to throw out an exact figure these days, but in our opinion it is safe to say that the conversation shall soon turn to natural gas being replaced by coal. That does not make us bullish coal, for we are still in the camp that thinks natural gas has gotten ahead of itself as at any point the natural gas producers could ramp up production by running at full capacity and/or beginning to drill once again. Which might also cause the power companies to look at how and when they do make the switch.//