Tag: precious metals

Today's Video Update: Don't Worry About The Price Of Gas, This Agency Has It Under Control

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 3rd of April.

Don't Worry About The Price Of Gas, This Agency Has It Under Control
Back on 8/4/1977, the Department of Energy was instituted TO LESSEN OUR DEPENDENCE ON FOREIGN OIL.
34 years ago, 30% of our oil consumption was foreign imports. Today, 70% of our oil consumption is foreign imports. Pretty efficient, huh???

And now it's 2013, 36 years later, and the budget for this "NECESSARY" department is at $24.2 BILLION A YEAR. It has 16,000 federal employees and approximately 100,000 contract employees and look at the job they have done! (This is where you slap your forehead and say, "WHAT WERE THEY THINKING?")

Ah yes, good old Federal bureaucracy.

Now we have turned over the banking system, healthcare, and the auto industry to the same government. Does that make sense to anyone besides the government? Continue reading "Today's Video Update: Don't Worry About The Price Of Gas, This Agency Has It Under Control" →

Today's Video Update: Rearranging The Deck Chairs On The Titanic

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 2nd of April.

Rearranging The Deck Chairs On The Titanic
Yesterday, it was reported that a “a company owned by in-laws of Cypriot President, Nicos Anastasiades, withdrew millions from Laiki Bank on March 12 and 13," according to an article published in Cypriot newspaper, Haravgi. Today we are learning that Michael Sarris, the finance minister of Cyprus, has resigned. I expect we will be seeing more revelations coming out of Cyprus in the days and weeks ahead. I believe that Cyprus is the tip of the iceberg and is the catalyst of destruction in Europe. With unemployment in Europe officially at 12% and unemployment for young people in Spain at 55%, one can only think it's a matter of time before things erupt into civil disobedience. Europe cannot grow itself out of this mess and the austerity measures being demanded provide little to no hope for Europe to survive. Under its present economic and political circumstances, I think it's only a matter of time before the ship goes down with no lifeboats! Continue reading "Today's Video Update: Rearranging The Deck Chairs On The Titanic" →

Today's Video Update: Washington - We Have A Problem

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 1st of April.

Washington - We Have A Problem
That seems to be the secret message that Europe is sending to America. With little to no fanfare, it was announced last Friday (Good Friday) that Jack Lew, the newly appointed Treasury Secretary, will be heading to Europe for a series of meetings with finance ministers in early April. When I heard the news of Jack Lew's trip to Europe, it immediately threw up a red warning flag that things are not going well in Europe and they may need America's help, which is interesting as we are drowning in debt ourselves. When this news story broke, I was appearing on Fox Business News with Liz Claman. Continue reading "Today's Video Update: Washington - We Have A Problem" →

Weekly Futures Recap W/Mike Seery

Posted on by The INO.com Team

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Precious Metal Futures-- Precious metals this week settled slightly lower in a volatile trade with the U.S dollar continuing its bullish momentum putting some pressure on gold for the week finishing down around $11 at 1,594 an ounce in the June contract settling lower this Friday while settling last Friday at 1, 598 an ounce still trading right above its 20 day moving average for far away from its 100 day moving average stuck in a 6 week consolidation unable to break out above 1, 620 despite the fact that there’s nervousness in European banks with you would think investors will be flocking to gold at this point but it has not happened at least not yet. Silver futures for the May contract settled about $.30 lower for the week still trading far below its 20 and 100 day moving average also stuck in a 6 week consolidation as I’ve stated in previous blogs until silver breaks $28 which it came close to in yesterday’s trade before rallying I still remain bullish on this sector and I do believe that the worst is over in the commodity selloff and if you look at the CRB index its trading at a 4 week high which is a commodity index which is a basket of commodities so I think the trend is starting to change. Continue reading "Weekly Futures Recap W/Mike Seery" →

Today's Video Update: Holding the euro is like holding an ice cube in the desert

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 28th of March. Which happens to be the last trading day of the 1st quarter.

HOLDING THE EURO IS LIKE HOLDING AN ICE CUBE IN THE DESERT
The only way I can describe the euro is like this... imagine you're in the middle of the desert holding an ice cube and watching it slowly melt through your fingers. That is what's happening to the euro and the euro zone. It is slowly melting away. The Trade Triangles are negative and continue to point to lower levels for the Euro v. the U.S. Dollar. A close around the 128 level will be the lowest close seen for the euro in the last three quarters. Continue reading "Today's Video Update: Holding the euro is like holding an ice cube in the desert" →