Champion (1938-39) gives the saying, “Sell in May and then go away,” as a proverb from the British Isles, commonly heard at the “Stock Exchange.” From what we can discern, it has become popularized in the financial press due to the efforts of Yale Hirsch over at Stock Traders Almanac. In fact, our own research tends to confirm its accuracy.
Based on the Dow-Jones Industrial Average, the month of June has seen declines in 35 of the 52 years (67%) since 1961. Furthermore, August, June and September consecutively rank as the worst performing months of the DJI since 1950. We find it fascinating…..
…..read more HERE
Silver’s year-to-date performance has been the worst among all commodities, falling 35% from January to June 30th this year. It’s been a rough ride for those who have held on, but recent news should give silver investors a reason for some renewed optimism.
The news relates to recent filings that have revealed a dramatic change in the positioning in the silver futures market and ownership of the iShares Silver Trust (SLV).
……read more HERE
Peter Grandich Interview: “The reward now is greatly more to the upside than the downside for gold”
Q: What is your outlook for the equity markets in the next 12 months?
A: I think the most recent move by the FED is quite telling and could come back to bite them in a big way.
…..read the whole interview HERE
Crude continues to surge on a follow through after breaking through a weekly resistance level last friday.
“Everything is going for the market right now,” said John Kilduff, a partner at Again Capital LLC, a New York hedge fund that focuses on energy. “Refineries are operating at higher rates, which is increasing demand for crude. At the same time, gasoline demand is up above 9 million barrels a day for the first time in a long while.”
The U.S. benchmark oil extended its rally after breaching a technical resistance level on the weekly chart, according to data compiled by Bloomberg. Futures settled above $103.39 a barrel, the 61.8 percent Fibonacci retracement of the decline to $32.40 in December 2008 from an intraday record high of $147.27 in July that year. Investors typically buy contracts when prices exceed technical resistance.
……..get the whole crude picture HERE