The DOW closed this week only 500 points away from our original projection of DOW 6500 . There appears to be no real place to hide and most all sectors are getting whacked daily.
This week gold and gold mining companies were no different. This sector came under selling pressure after Fed Chairman Bernanke’s statement [...]
I was just reading a Reuters News from London and I find it interesting in that it supports many of the 2oversold.com blogs about gold mining companies.
While I do disagree that gold will be capped near the $1050 range I do agree that the mining companies have yet to see the current price of [...]
According to an AP news release Americans receiving unemployment benefits tops 5 million for the first time since records began: Unemployment Recipients Break Record
Now this figure is obviously huge but it is also important to this blog in many ways.
First off 2oversold.com has stated many times that we do not think the markets can [...]
The precious metals gave up their early gains yesterday and traded into the red with the rest of the market. Today gold and silver is once again showing weakness with gold currently down $7.80 at $944.30 and silver off by .27 to $13.46.
Is this just normal profit taking? It would appear so to me. I [...]
Buyers return to the metals today as the market retreats from yesterday’s gains. Both gold and silver got sideswiped yesterday with the news that the recession might be over this year.
It appears investors have had a moment to think about this and are once again selling the market in favor of the precious metals.
Gold [...]
Gold, Silver and Mining stock fell Tuesday as the major indices soared on news that the recession is almost over. It’s true. I’m not lying! This is the actual news that moved the markets today! Read it here for yourself: ( Stocks Up On Bernanke Remarks. )
Gold fell to $962.70 (-$29.00), Silver was off [...]
Now that is enough for a rally. But if only one can believe it. That is what the headlines are touting that Bernanke is saying:
Bernanke: Recession may end in ‘09; Stocks climb
Stocks rise as Bernanke tells Congress the difficult recession may end this year
NEW YORK (AP) — Federal Reserve Chairman Ben Bernanke has [...]
The futures are indicating a positive open today but with Target (TGT) and Home Depot reporting I don’t think the futures are a real indication of what is about to happen in the markets.
Target (TGT - $28.43) missed even lowered street expectation by .02 and while The Home Depot headlines may read “beats the street” [...]
Today several news releases started comparing the huge drop in the DOW as returning to “the price levels of 1977.( Market Falls To 1977 Levels .) That is only one example but there were many and will be many more I am sure as the markets continue to fall.
Most certainly they are correct. But [...]
Silver continues to power higher here in late morning trading. Currently up .20 to $14.61 it has managed to pull gold into the green. Gold is currently trading at $993.40 +.20. The gold stocks we blog have now moved off their lows and are heading back towards positive territory .
You can read more about our [...]