By: Scott Wright, Zeal Research - 28 December, 2007
But while these stockpile builds have led to the shedding of some of the speculative risk premiums attached to the prices of the base metals, their respective bull markets remain healthy. Prices are still on the high side of their secular uptrends and stockpile levels are still historically low. A base metals correction is healthy in order to balance sentiment for the next push higher. Full Story
The assassination of former Pakistan Prime Minister Benazir Bhutto may not affect markets in the short term but will have long term implications as Pakistan is a nuclear country and has a history of supporting terrorists. Full Story
The credit crunch continues to worsen, where very soon attempting to paper over all problems with more derivatives and bailouts will no longer work, and authorities will be compelled to increase currency (just another derivative) debasement rates to higher thresholds around the world. Correspondingly then, and as was the case in the early to mid-80’s to stimulate the US economy, expect Money At Zero Maturity (MZM) growth rates to top 40-percent in coming days as authorities are forced to monetize increasing bank failures and facilitate ‘price stability’. Full Story
By: Rick Ackerman, Rick's Picks - 24 December, 2007
Obligatory year-end mark-ups are bound to push stocks still higher into New Year’s Eve, but don’t expect the Dow to hit new record highs any time soon. That would require a 650-point thrust from these levels, and although a rally of that magnitude would require a trajectory less steep than the short-squeeze that added 700 points to the Industrial Average in the days immediately before and after Thanksgiving, buyers would face far more daunting challenges of supply this time around. Full Story
Window dressing by fund managers along with position building for the first quarter of 2008, particularly in the options markets will dictate the markets. Full Story
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