Wealth Creation Through Natural Resources
The recent outperformance of the gold miners (GDX) relative to gold itself has been quite striking: My primary takeaways/interpretations of this recent outperformance are as follows: Investors are betting that gold is at the end of a cyclical bear … Continued
I came across two powerful China charts from J.P.Morgan this weekend: During the last decade the correlation between Chinese monetary conditions/nominal GDP growth and commodities is almost uncanny; the CRB bottomed at the exact month that China monetary conditions bottomed … Continued
OPEC crude oil production surged by roughly 1 million barrels per day in March after consecutive months of decline: Meanwhile, there is some question about US production declines as the data doesn’t paint an entirely clear picture. Production is … Continued
Weekend Commodity Chart Wrap 4/18/2015… Gold with realized volatility (top) and implied volatility (bottom) Both realized and implied gold volatility have been in decline since the beginning of the year. The GVZ (CBOE Gold Volatility Index) is currently pricing … Continued
Which of these 5 charts doesn’t fit with the others?… Bloomberg Economic US Surprise Index Yardeni Global Growth Barometer & S&P 500 Monthly Core Retail Sales S&P 500 US Inflation Rate What do you guys … Continued
GDX is on the brink of one of most anticipated “breakouts” we’ve seen in quite a while: There is a lot going on in the above chart and the situation is by no means clear. Here is some of … Continued
After a parabolic rally (sell-off in the Canadian dollar) to begin the year, the USD/CAD has been working on putting in a top for the past couple of months: The key level to watch here is 1.2380 – a … Continued
Oil services stocks as represented by the OIH (roughly 1/3 of the OIH is comprised of two names, HAL and SLB) have been hot for the past month, gaining nearly 20% since the March 16th low: This is the 3rd … Continued
Via Epstein Research: I should start by saying that I’m reasonably well versed in mining stocks, I consistently lose money in all cycles! So, I thought I would breeze through this treatise in about an hour. And, I could have, … Continued
A powerful, and frightening, conclusion as to what’s causing the recent trend of plunging global inflation rates via Bond Vigilantes: “The consequence of China’s overinvestment was to create excess supply and overcapacity, which has proven disinflationary, but now China has to … Continued