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Gold has become the most hated commodity lately. What happened to the days when everyone had to own the precious metal? After all, more and more centr…

Gold has become the most hated commodity lately. What happened to the days when everyone had to own the precious metal? After all, more and more central banks around the world are printing money faster than ever. The Federal Reserve (U.S. central bank) is still creating $85 billion a month out of thin air. Other central banks in England, Japan, Asia, and Europe continue to do the same thing. So why has gold struggled so much? It seems that gold is now trading inversely to the USD/JPY (U.S. Dollar vs the Japanese Yen). Today, the USD/JPY is falling sharply and this is causing gold futures to rally. Currently, the USD/JPY chart remains in an up-trend on the daily chart. Up-trending markets are very tough to fight since that is where the momentum is. Should the USD/JPY chart start to fall gold should start to trade higher. Traders and investors might need to take a wait and see approach, but I would say that you shouldn’t get too bearish on gold at this stage of the game. Gold could be setting up to make a sharp move higher very soon if that up-trend in the USD/JPY chart starts to reverse. Nicholas Santiago InTheMoneyStocks.com

Kenneth Mehlman, Bush campaign manager comes out as gay

Former Republican National Committee chairman and Bush-Cheney campaign manager Kenneth Mehlman has announced publicly that he is gay, CBS News chief political consultant and politics editor for The Atlantic Marc Ambinder reports.

"It's taken me 43 years to get comfortable with this part of my life," Mehlman said. "Everybody has their own path to travel, their own journey, and for me, over the past few months, I've told my family, friends, former colleagues, and current colleagues, and they've been wonderful and supportive. The process has been something that's made me a happier and better person. It's something I wish I had done years ago, but I didn't."

Mehlman was RNC chairman from 2005 to 2007 after serving as Bush-Cheney campaign manager in 2004. He also served as White House political director during President Bush's first term.

Mehlman told Ambinder that he had recently come to the conclusion that he is gay and was looking to become an advocate for gay marriage. He went public in part because he expected to be asked about his sexuality when it became known he was participating in a fundraiser next month for the American Foundation for Equal Rights (AFER), which is supporting a legal challenge to California's Proposition 8 initiative banning gay marriage.

Mehlman said President Bush "is no homophobe" but acknowledged that the Bush administration used antigay initiatives for political gain. In private conversations with senior Republicans, he said, he fought back against attempts to demonize same-sex marriage.

Activist Mike Rogers, as Ambinder notes, has waged a years-long campaign to force Mehlman out of the closet, including confronting him with questions about his sexuality on video. (Mehlman regularly denied that he was gay.) Rogers responded to the news that Mehlman was coming out by awarding him a "Roy Cohn Award" for "managing the most anti-gay presidential campaigns in history."

"Ken Mehlman is horridly homophobic and no matter how orchestrated his coming out is, our community should hold him accountable for his past," Rogers wrote.

Mehlman told Ambinder he understands that some people in the gay community will be upset that he did not come out until he was out of government.

"I can't change the fact that I wasn't in this place personally when I was in politics, and I genuinely regret that. It was very hard, personally," he said. He acknowledged that if he had come to terms with his sexual orientation earlier, "I could have worked against [the Federal Marriage Amendment]" and "reached out to the gay community in the way I reached out to African Americans."

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Now that the long overdue (and predicted) contagion from the cash market has hit repo, things are going from bad to horrifying. Following overnight news that HK is hiking haircuts on Bill collateral, and with increasingly more counterparties now segregating what collateral is eligible, if not shutting down the bill market outright, suddenly the universe of eligible repo market securities has imploded. It also means the overnight repo rate, as we said on Monday would happen, is exploding. Moments ago ICAP reported, via SMRA, that the general collateral overnight rate has nearly doubled from 0.15% to 0.27% and rising.

Continued

Ink AND paper come together again AND again AND again to make a car that is both mighty AND fast. Because you shouldn’t have to sacrifice one thing for another. On the canvas or the road—AND is better.

Like this? We’re sending out 100 copies of the finished poster to the ones who show their love. Just click here AND give us your contact information. We’ll send you a poster, postage paid by us. (Privacy Policy) 

Illustration by Jason Smith

Printed at Progress Custom Screen Printing in Ferndale, MI

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Every bull and bear market has leadership by individual stocks and sectors. Therefore, it is important for independent traders and investors to always…

Every bull and bear market has leadership by individual stocks and sectors. Therefore, it is important for independent traders and investors to always watch the leading stocks and sectors for clues. Certain chart patterns will indicate when the major institutional money is going to start taking profits, or even begin to accumulate a particular stock or industry group. This is why it is critical to learn and understand how to read the charts. At this moment, some of the leading stocks in the NASDAQ Composite are Google Inc (GOOG), Facebook Inc (FB), Apple Inc. (AAPL), Amazon.com Inc. (AMZN), and Twitter, Inc. (TWTR). By following these market leading stocks we can get a sense of how the overall market will perform. As long as money flow continues to lift these equities, the rest of the NASDAQ Composite Index should hold up well. Other leading equities can generally be bought on pullbacks into technical support levels, as long as these leading stocks remain in solid up-trends. Should a trader or investor see a technical reversal signal in one of these leading equities, then it could be a warning sign that the institutional money is beginning to come out of the leading stocks. When this occurs, it will often have and adverse effect on the major stock indexes. Remember, it is the institutional money that moves markets, it is not the individual at home with an online account buying 100 shares of a stock. The institutional money is very leveraged and has unlimited buying power, therefore, the institutions are who you must learn to follow. Nick Santiago www.InTheMoneyStocks.com

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