Mar. 8 2011 | With the New Zealand trading lower ahead of the RBNZ meeting, Arjuna Mahendran, MD & head of investment strategy Asia at HSBC Private Bank, says this a good time to buy the currency.
Tuesday, March 8, 2011
When does Wall Street pay?
There is a new campaign called "Make Wall Street Pay" that is calling on people to protest the big banks that bankrupted the country. They argue it was the banks, not teachers and other civil services that broke the economy but Wall Street and its Wall Street's turn to pay. Economist Max Fraad Wolff says we have a tendency to under tax corporations and Obama's decision to extend the Bush tax cuts has hurt our federal budget.
IAMGOLD Signs Memorandum of Understanding With China Gold
IAMGOLD (IAG) announced today that it has signed a memorandum of understanding with China National Gold Group to pursue and develop mineral deposits in the regions of IAG's focus, specifically Africa, South America and North America.
China Gold International Resource, the overseas investing arm of China Gold, will handle all of its future international gold and non-ferrous business opportunities.
IAG shares are down 1.55% to $21.69.
China Gold International Resource, the overseas investing arm of China Gold, will handle all of its future international gold and non-ferrous business opportunities.
IAG shares are down 1.55% to $21.69.
Silver hits a 31 year high at $36.74
NEW YORK (TheStreet) -- Anthony Neglia of Tower Trading breaks down the silver trade as prices keep breaking to 31-year highs.
Silver hits a 31 year high at $36.74 is it time to take profits or do you wanna stay long ?
Anthony Neglia :'...Well I guess did you before -- see a lot of the profit taking is being done from overnight highs the intraday lows OK and we haven't broken. Any major trend lines to the downside yes thirty dollars would probably be a very cycle -- you know psychologically damaging for the -- investor OK but for those that. Are looking to get in at lower levels that would probably be the area that -- you know that I feel that it would would stop and some renewed buying interest. I mean there's a tremendous amount of open interest in the -- forty dollar call we have about 101000 Dodd 101000 contracts -- They don't expire for another month towards the end of April so if we get a hint of 38 to forty dollars over. This to be very very interesting. Moved to the upside if those calls happened to go in the money. Heinous thing any short contracts right now. Not really -- there is some profit taking on some options areas. As far as we're concerned but I don't see anybody taking any significant short positions in futures or an options okay -- beyond. This which is. The switches that have been done you still have a lot of shorts now because of the back would be seen in the further out months so eventually those are going to have to be bought back. Okay which. Renews my. Renews my faith in the fact that this is going to be -- continued rally. Question how are you treating you taking profits during the day in and buying back -- I like to take it from the elected taking from the long side finding areas that I would rather buy. And areas that I would rather sell so what that area like -- that area for me is the you know 35 area -- you know makes over. OK and -- you can take you know twenty -- profits in two day that's you know very good day's pay....'
Silver hits a 31 year high at $36.74 is it time to take profits or do you wanna stay long ?
Anthony Neglia :'...Well I guess did you before -- see a lot of the profit taking is being done from overnight highs the intraday lows OK and we haven't broken. Any major trend lines to the downside yes thirty dollars would probably be a very cycle -- you know psychologically damaging for the -- investor OK but for those that. Are looking to get in at lower levels that would probably be the area that -- you know that I feel that it would would stop and some renewed buying interest. I mean there's a tremendous amount of open interest in the -- forty dollar call we have about 101000 Dodd 101000 contracts -- They don't expire for another month towards the end of April so if we get a hint of 38 to forty dollars over. This to be very very interesting. Moved to the upside if those calls happened to go in the money. Heinous thing any short contracts right now. Not really -- there is some profit taking on some options areas. As far as we're concerned but I don't see anybody taking any significant short positions in futures or an options okay -- beyond. This which is. The switches that have been done you still have a lot of shorts now because of the back would be seen in the further out months so eventually those are going to have to be bought back. Okay which. Renews my. Renews my faith in the fact that this is going to be -- continued rally. Question how are you treating you taking profits during the day in and buying back -- I like to take it from the elected taking from the long side finding areas that I would rather buy. And areas that I would rather sell so what that area like -- that area for me is the you know 35 area -- you know makes over. OK and -- you can take you know twenty -- profits in two day that's you know very good day's pay....'
Lukoil President on Oil Prices
Mar. 8 2011 | The uncertainty in the Mideast is putting an even bigger focus on production in other regions, so Russia's Lukoil is looking to put more of its oil into the system, with CNBC's Sharon Epperson, and Vagit Alekperov, Lukoil president.
Jeffrey Christian on The Silver High Streak - 2011 PDAC convention in Toronto
Jeffrey Christian on The Silver High Streak - 2011 PDAC convention in Toronto . Kitco News continues it's exclusive coverage of the 2011 PDAC convention in Toronto with comments from Jeffrey Christian, Managing Director at CPM Group. Senior reporter Daniela Cambone interviews him on silver's hot streak and an overnight all time high.
Silver bullion based upon $500 in purchasing power
Silver bullion based upon $500 in purchasing power
Silver bullion is still the best and will be the best throughout this bull market.
Silver bullion is still the best and will be the best throughout this bull market.
Underwater Mortgages Rose At End of 2010
The number of Americans who still owe mortgages worth more than their homes rose at the end of last year, according to a CoreLogic report released on Tuesday.
Approximately 11.1 million homes, or 23.1% of all mortgaged homes, were underwater in the fourth quarter of 2010. That figure is up from 10.8 million, or 22.5% of homes, in the July-September quarter prior.
Although the number of underwater mortgages have fallen in the previous three quarters, the report cites an uptick in foreclosures, meaning many homeowners of those underwater mortgaged houses defaulted on their payments.
Underwater mortgages typically go hand in hand with falling home prices. Housing prices hit their lowest point in December in 11 out of 20 major U.S. metro areas since the housing bubble burst.
The Associated Press reports that, in a healthy market, usually only around 5% of households are underwater.
Approximately 11.1 million homes, or 23.1% of all mortgaged homes, were underwater in the fourth quarter of 2010. That figure is up from 10.8 million, or 22.5% of homes, in the July-September quarter prior.
Although the number of underwater mortgages have fallen in the previous three quarters, the report cites an uptick in foreclosures, meaning many homeowners of those underwater mortgaged houses defaulted on their payments.
Underwater mortgages typically go hand in hand with falling home prices. Housing prices hit their lowest point in December in 11 out of 20 major U.S. metro areas since the housing bubble burst.
The Associated Press reports that, in a healthy market, usually only around 5% of households are underwater.
U.S. Crude Down on OPEC Talks of Output Boost
U.S. crude oil prices fell Tuesday following a statement by Kuwait's oil minister that OPEC may consider increasing production output to supplement Libya's disrupted supply.Though crude prices are down from their highest level since September 2008, they have risen above today's early low of under $104 a barrel, according to Reuters.
Investors, however, remain worried about oil supply, awaiting the release of oil inventory data and as the OPEC has yet to come to a definite conclusion. The American Petroleum Institute (API) will issue its weekly inventory report at 4:30PM EST on Tuessday.
Investors, however, remain worried about oil supply, awaiting the release of oil inventory data and as the OPEC has yet to come to a definite conclusion. The American Petroleum Institute (API) will issue its weekly inventory report at 4:30PM EST on Tuessday.
Gold and Silver at Record High amidst Libya Crisis
Gold hits all time record high ; silver at 31-yr high
Trading sentiments for the yellow metal turned bullish on heavy buying support, following turmoil in Libya and surging crude oil prices. While gold surged Rs 200 to Rs 21,420 per 10 grams on rising seasonal demand, silver rose by Rs 1,250 to Rs 54,450 per kg on heavy buying by stockists and industrial units, amid firm global cues. However, such a rise has hardly made any difference in the enthusiasm of Indian buyers.
Trading sentiments for the yellow metal turned bullish on heavy buying support, following turmoil in Libya and surging crude oil prices. While gold surged Rs 200 to Rs 21,420 per 10 grams on rising seasonal demand, silver rose by Rs 1,250 to Rs 54,450 per kg on heavy buying by stockists and industrial units, amid firm global cues. However, such a rise has hardly made any difference in the enthusiasm of Indian buyers.
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