This is a sample entry from Drew Rathgeber’s newsletter, The Rath Overlay, published on Friday, March 14, 2014.
By The Numbers
- US National Debt $17,502,199,074,896
Per Tax Payer $151,572 - Unfunded Liabilities $128,244,551,722,026
Per Tax Payer $1,110,620
Source: http://www.usdebtclock.org
In The News
Jobless Claims in U.S. Fall to Lowest Level Since November
The number of Americans filing applications for unemployment benefits unexpectedly fell last week to the lowest level since the end of November, a sign of further improvement in the labor market. Jobless claims dropped by 9,000 to 315,000 in the week ended March 8, a Labor Department report showed today in Washington. The median forecast of 53 economists surveyed by Bloomberg called for a rise to 330,000. Continuing claims decreased for a third straight week. (more)
IMO: When weekly jobless claims fall below 400,000, this is considered positive economically speaking. Personally question the type of jobs that are being created to offset this report?
Gold Trades Below Four-Month High as Investors Weigh Ukraine
Gold traded below a four-month high in New York as investors weighed the crises in Ukraine and the outlook for the U.S. economy before employment data due tomorrow. Palladium was near the highest price since April. (more)
IMO: Few points, typically (not always) Gold does trade higher in the winter months and typically (not always) in this season I would call it the “War Season” when most war mongering takes place. Realize it’s just too damn hot in the summer.
Stocks Tumble To Red As “Good News Is Bad News”
A significant and surprising build in crude inventories Wednesday added more pressure to oil prices, with West Texas Intermediate futures under the key $100 level.
The U.S. Energy Information Administration said that crude oil supplies for the week ended March 7 rose by 6.2 million barrels, nearly three times what the market was expecting. In its survey and analysis, Platts called for a 2.3 million barrel build.
(more)
IMO: Interesting piece, regarding geo-political test in regards to the issues in Ukraine.
Silver Under-performing – Will it last?
Since the start of 2014, the price of silver has lagged the other precious metals in many ways. Silver has really only kept pace with gold — even as silver is thought of as a leveraged bet on gold prices. Silver has notably underperformed another white metal, palladium, which is currently nearing a 52 week high. The hangover in the silver market from the 2011 price explosion still seems to be persistent, even as silver is up over 10% from its last December lows. Because silver industrial demand is still off from its 2011 peak (though many sources claim it is at least increasing) and with evidence of stockpile increases at places like the COMEX, few are taking seriously the idea that silver will ever retake its former peak of around 50 dollars, let alone move decisively to even higher levels. (more)
In The Markets
Emini S&P (ES)
Market Comments: Off our highs, and if you’re looking to go long, now is your chance! Protective stops in place depending on your account size between 1835-1825.
STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE DIFFERENT FROM THE STOP PRICE. IF A MARKET REACHED ITS DAILY PRICE FLUCTUATION LIMIT, A "LIMIT MOVE", IT MAY BE IMPOSSIBLE TO EXECUTE A STOP LOSS ORDER.
Gold (GGC)
Market Comments: Gold has been very bullish due the current geo political uncertainty of Russia/Ukraine we all have been witnessing. Setting up for a battle at $1,400, and beyond!
Corn (ZC)
Market Comments: We did get our back n’ fill action I mentioned last week, and now retesting 4.95 with heavy overhead resistance as this level. Will we break higher, or breakdown?
Silver (GSI)
IMO – In My Opinion
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STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE DIFFERENT FROM THE STOP PRICE. IF A MARKET REACHED ITS DAILY PRICE FLUCTUATION LIMIT, A "LIMIT MOVE", IT MAY BE IMPOSSIBLE TO EXECUTE A STOP LOSS ORDER.
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