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Hunting for relative bargains yesterday morning, we waited in vain for the index futures to come down below Friday’s levels. Alas, prices held relatively firm in the opening hour, eventually inducing yet another flight of fancy by the broad averages.  By day’s end, the Dow was up 143 points, recouping most of Friday’s losses while adding further to the one-way tedium of this Mother of All Bear Rallies. To put Mama Bear in perspective, the weekly chart now reflects the possibility, if not yet the likelihood, of a 125-point upthrust in the S&P 500 mini-futures.  That’s 10 percent above yesterday’s settlement price, and although the move would qualify as [continue reading…]

While Rick’s Picks has focused with bland, mechanical detachment on the technical picture  in gold and silver, we rely on our friend Chuck Cohen, a New York-based gold consultant, to stir readers’ imaginations when they think about how high gold shares and bullion could eventually go. We asked Chuck for his current thoughts, and he kindly obliged, even though he was ensconced in a hammock in Puerto Vallarta, sipping a margarita, when we called.

**  The single most important point remains that you keep your perspective fixed on the long-term picture. In spite of all of the monetary stimulation and frantic attempts to prop up a decaying system, the economy and the financial structure are still a mess, with no [continue reading…]

Wall Street traders bought just about everything in sight yesterday, inspired by news of a strong performance by global manufacturers in December and some loose talk from a Fed muckety-muck, vice chairman Donald Cohen, who thinks tightening to head off perceived inflation threats “could be expensive.” U.S. manufacturing reportedly grew at the fastest pace in more than three years, purchasing managers said. Europe and Asia reported similar surges, although we’re having trouble imagining who’s going to buy all that new inventory. Last week, we tried without success to determine just what it is that is still [continue reading…]

(We’ve heard from our friend Chuck Cohen again, and he’s as bullish as ever on the junior and exploration gold shares.  Two stocks he likes look too overextended now to jump on, but there are many others that have yet to leave the launching pad.  RA)

A seismic change is rapidly approaching in the junior and exploration gold shares. Many companies that appeared primed for liquidation just last November will be soon be ratcheting up in an unimaginable way. There remains an unusual amount of doubt and anxiety, as we saw in Friday’s air pocket in gold and silver. So why do I still feel so strongly about an explosive rise in the metal and shares? It’s a chart thing, specifically the recent price movements in two junior gold stocks, Romarco Minerals and Terrane Metals. Here’s [continue reading…]

Here is the latest from Chuck Cohen, a New York-based financial consultant who specializes in gold investments. At bottom is a speculative recommendation of a small but well-positioned mining company.   We should note that we do not share Chuck’s bullishness on the stock market, even though we are quite bullish on physical gold and silver. Also, while Chuck believes inflation is about to explode, we see deflation ruling the economy as long as real estate remains in a possibly permanent funk.  Here’s Chuck: 

Despite all the dire warnings, I’m convinced the stock market will continue to advance. This has implications for gold, since, as long as shares are moving higher, I am confident that gold will move higher as well. Moreover, the incredible gold fundamentals are about to be reflected in an acceleration in price that so far has been slow, measured and frustrating. At the conclusion I have made another gold exploration recommendation: Moneta Porcupine (OTC symbol: MCUPF).  This company appears well poised for the [continue reading…]

The Guvvamint plastered a 3.5 percent GDP growth rate on the marquee yesterday, and traders acted as though the information had come from Walter Cronkite himself. We always expect the stock market to wet its pants when these dog-and-pony shows turn up the wow factor with “Sabre Dance” and a laser show. But did the bond markets have to go nuts as well?  We would have thought they had better sense. It’s one thing for whacky [continue reading…]

Our NYC-based correspondent Chuck Cohen, a consultant who specializes in gold investments, is so bullish on mining shares right now that he can barely contain himself. We’re hard-pressed to hold back ourselves, having recently disseminated a 492 target, 12% above current levels, for the Gold Bugs Index (HUI). We also expect the next surge in Comex Gold to push the December contract up to at least $1134, implying a rally of about seven percent from current levels.  Chuck’s latest dispatch is mainly a pep talk, but he concludes with a strong recommendation for a Canadian mining stock with an OTC listing in the U.S. The name of this [continue reading…]