Thursday, March 13, 2014
Some newn noos
Here's the news, with a gold miner buyout rumour after the break to earn me some more bitcoin:
Bonddad - double top for DJIA? Well, volume has weakened the second time round and the MACD is lowering its trend. No good reason for it, but the chart is the chart, and I'm sure a load of people trade on nothing but the chart nowadays.
Bespoke - jobless claims better than expected. And yet? Gold goes up and SPY goes down.
BI - Marc Faber says China has a gigantic credit bubble. OK, right there I'm turned off the whole China Dooooom story: if some assclown like Faber is in on it, I'm going to turn my back on it.
Mining.com - interview with Derek MacPherson at M Partners. He reads this blog religiously, so let's see if anything I've said has sunk in? (reads article) Well, he has his own opinions and acts sensibly in an interview unlike that clown Charles Oliver, so I guess MacPherson is worth reading.
IKN - Otto says BTO's Gramalote sucks. And yet the stupid stock skyrockets today. Why? Is it because Clive made a sensible decision and put off Gramalote? Seriously, I look at that chart and wonder who the hell in the gold mining industry has the $2 billion dollars necessary to buy out BTO, cos that's what a chart with only one direction on it screams at me.
UPDATE: and no, for the record (and for my readers at the OSC and BCSC), I don't own BTO and don't intend to. That chart is just silly. But I'm open to the idea of kicking myself a few weeks or months down the road.