Talking Points Crude Oil Poised to Follow Stocks Higher Amid Recovery in Risk Appetite Gold May Fall Despite Dollar Weakness as FOMC Minutes Weigh on QE3 Bets WTI Crude Oil (NY Close): $98.83 // -0.82 // -0.82% Prices are probing above the $100/barrel figure in Europe as a recovery in risk appetite that began in [...]
Cusick’s Corner 12-30-2011 2011 was quite the roller coaster and looks like some early trends could be emerging for 2012. Happy New Year — see you in 2012! Stock market averages are underwater and trading is slowing late-Friday. With no economic data to guide the morning action, trading had turned mixed in eventful action through [...]
Cusick’s Corner 12-30-2011 The market looks like it wants to finish in the green, with the S&Ps trying to finish over 1257. Gold, GLD, looking to hold current levels, this will be a trade to watch going into 2012. I am keeping it tight and disciplined as not to get caught in the chop. See [...]
In the face of falling equity values across the globe, gold has emerged as an attractive asset class. Since the middle of the year, global equity values are estimated to have fallen by as much as $10 trillion, more than two-thirds of the U.S. GDP. A bear market, the sharp slowdown in global economic growth [...]
Friday, December 30, 2011 Gold prices appear at a crossroads, with the potential for an accelerated sell-off as weak longs continue to exit the market — but also the potential for sharp gains should recent lows hold and bargain hunting buying emerge. This sets the stage for traders to explore strategies that would benefit from [...]
Workers at the Indonesian unit of Freeport McMoran Copper & Gold Inc. (FCX) are expected to return to the Grasberg mine in Papua on January 20, 2012 after observing a three-month strike. The labor union at PT Freeport Indonesia stated that the port unit contractor PT Kuala Pelabuhan Indonesia (KPI) has agreed to reinstate about [...]
Cusick’s Corner Gold, GLD, and Silver, SLV, continue to slide as the weaker long speculators are pressured out. Equities are gravitating towards that 1260 mark on the S&Ps to get the end of the year in the green. Like I mentioned earlier this week, as long as we have 3 of the 4 offensive sectors [...]
Talking Points Crude Oil Appears Poised Higher as S&P 500 Futures Signal Risk Recovery Gold Break Past 3-Year Trend Line Support Points to Major Trend Change WTI Crude Oil (NY Close): $99.36 // -1.98 // -1.95% Crude prices pulled back on broad-based risk aversion amid escalating Eurozone debt crisis stress yesterday. Looking ahead, broad sentiment [...]
Workers at Freeport McMoran Copper & Gold Inc.’s (NYSE:FCX) mine in Indonesia may delay returning to work due to the pending decision on the removal of about 100 workers at a local unit. Earlier, the workers entered a deal with management to end this three-month strike. The workers at Freeport Indonesia’s Grasberg mine in the [...]
We maintain our Neutral recommendation on Kinross Gold Corporation (NYSE:KGC), primarily involved in the exploration and operation of gold mines. Kinross currently ranks among the top 10 gold mining companies in the world, with a targeted production of 2 million oz of gold annually. The company is also engaged in producing and selling silver. Kinross [...]
Cusick’s CornerRisk assets, stocks, are quietly holding up while currency markets are weak. Gold traders, GLD traders, should consider looking to the currency trade to flag strength or weakness. This is a tough week to trade on technicals or fundamentals mostly because the larger players are off the desk. This is a market in which [...]
We maintain our Neutral recommendation on Barrick Gold Corporation (NYSE:ABX), the largest gold mining company in the world. The company has a portfolio of 25 operating mines with quite a number of advanced exploration and development projects located across four continents. Barrick Gold posted record third-quarter 2011 results driven by higher gold and copper prices [...]
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