Lombardi: Stock Market Commentary & Forecasts, Financial & Economic Analysis Since 1986

Archive for the ‘gold prices’ Category

The Debt Crisis Continues—It’s
Like a Credit Card Shopping
Spree After Losing Your Job

By for Profit Confidential

The spot price of gold is now well above $1,800 an ounce and gold stocks are reaping the benefits. Right now, the stock market is experiencing a crisis of confidence—not in the ability of corporations to generate earnings, but in the macro sense of country economies, debt and deficits. The global debt crisis is just that—a crisis—and it’s been building up for years.

Gold Burning up the Chart: My Gold Advice

By for Profit Confidential

What a few months it has been for gold. With war worries in Libya to debt concerns in Europe and the United States, along with rising demand out of China and India, it appears to be the perfect storm for driving gold prices higher. In fact, the break at $1,500 was much sooner than I had expected and, based on the chart, prices could go even higher, albeit the buying may be somewhat ahead of itself and hence vulnerable to some profit-taking.

The June gold broke to a record high of $1,535.10 on April 28 and is looking to go higher. The chart showed a bullish inverse head and shoulders formation in March. Prior to this, there was a bullish V formation in January and early February. The June gold made a strong breakout at the $1,440 resistance that was in place since November 2010 in early April.

Downgrading of U.S. Credit
Rating Just Tip of the Iceberg

By for Profit Confidential

In coming up with a headline for today’s editorial, I was contemplating just using the word “denial.”

Simply put, the investors and markets are in denial…much the same as an alcoholic who thinks that if he skips drinks at breakfast and lunch, he’s okay to drink at night.

As reported here Monday, credit-reporting agency Standard & Poor’s downgraded the U.S. “AAA” credit rating from “stable” to “negative.” It was one big, loud message: if the U.S doesn’t get spending under control, its credit rating will be jeopardized further.

Three Major Financial Trends
Investors Can Profit From Today

By for Profit Confidential

Three major trends in the financial markets, all from which investors can make money, continue their development this morning…

Trend #1: Rising long-term interest rates. The 10-year U.S. Treasury hit a yield of 3.6% Friday morning. My forecast calls for the bellwether 10-year Treasury to easily sail past 4.0% this year.

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