Markets Closing In On All Time Highs But Earnings Season Is Here
Chris Temple, Founder of The National Investor shares his thoughts on the back and forth on trade talks between the US and China. We also focus on the US markets that are within spitting distance of all-time highs. However investors could be getting worried at these levels. Also watch the earnings as they roll in. Goldman released earnings today…
Click here to visit Chris’s site for more market and economic commentary.
Democrats flexing their muscles to drive up oil prices?
(It is an achille’s heel for the economy.)
ANTA FE, N.M. (AP) — Federal lawmakers ventured thousands of miles to hear from tribal leaders, archaeologists and others Monday as advocates urge Congress to establish greater restrictions on oil and natural gas drilling near ancient Native American cultural sites in the Southwest.
A House subcommittee is exploring the possible effects of air pollution on sacred sites, and its research trip has culminated in a public hearing at the New Mexico Capitol. Oil producers and federal land managers were not scheduled to be part of the panel.
It comes as New Mexico’s all-Democratic congressional delegation is seeking to halt new oil and natural gas lease sales on federal land within a 10-mile (16-kilometer) radius of Chaco Culture National Historic Park, which lawmakers visited Sunday.
Navajo Nation President Jonathan Nez has said many tribes that trace their heritage and traditions to Chaco’s ancient stone structures and avenues want to protect a broad swath of territory beyond the national park from damage by energy exploration.
“This landscape is part of our past, our present and our future,” Santa Clara Pueblo tribal Gov. Michael Chavarria told reporters last week. “Until this area is permanently protected, we are living in a state of uncertainty and doubt.”
Oil industry representatives say robust protections already are in place within the national park at Chaco Canyon and that federal authorities require detailed land surveys prior to drilling.
“Those archaeological surveys are baked into the process,” said Kathleen Sgamma, president of the Western Energy Alliance, which represents more than 300 oil and natural gas companies. “Any development on those leases would have to go through cultural surveys as specified under the Natural Historic Preservation Act and other laws.”
Sgamma said she highly doubts the Republican-led U.S. Senate will endorse the buffer zone around the park. She called Monday’s hearing “largely a messaging thing at this point.”
The proposed buffer zone includes a mix of state, federal and tribal land as well as parcels owned by individual Navajos. Some of that land would not fall under the legislation, which calls for tribal autonomy.
There are more than 130 active wells within that area, according to the Bureau of Land Management.
In recent years, federal land managers repeatedly have denied oil and gas leases that fall within the proposed buffer zone.
Is the pendulum swinging back towards freedom?
We’re in for a long bull market in the gold/silver mining shares so I bought Bob Moriarty’s new book to keep myself tuned-up and maybe find things I’d overlooked. Well he did not disappoint. It was interesting beyond my expectation as well as entertaining.
[I’m glad I got the paperback version which is 8.5″x11″]
The book has had a lot of positive reviews but I liked the concise summary provided by Maurice Jackson (founder of Proven and Probable) so here it is (I’m sure he won’t mind):
Basic Investing in Resource Stocks is a contrarian’s delight. But I must warn you! A paradigm shift will occur in between your left and right ear that will vastly empower you against those that embark upon markets daily changing the bid and ask of stocks.
Bob Moriarity has taken the complexity of investing in natural resources and has produced a simplified, easy to comprehend, refined masterpiece for readers that intend on becoming successful in an endeavor that produces more losers than winners by applying the virtues of contrarian investing.
You will be introduced to axioms that have been applied from one of the most successful speculators in natural resource stocks! Each axiom is a gift worth more than pure vein of solid gold. Bob will show you how he applies practical application of mass psychology thinking, how geopolitics and government coercion affect speculating decisions, and how readily available data right at one’s fingertips can be used to their advantage with spectacular results.
So how do you succeed when the odds are against you? By stacking the odds in your favor by becoming a contrarian! You must leave the herd! The herd won’t protect you. The herd does not care about you. The market doesn’t care about you. However, you can easily outthink and beat the herd by reading Basic Investing in Resource Stocks.
Extended range-bound action appears to be the main risk for the miners. A big drop does not look likely at the moment…
http://schrts.co/RXaXxqZQ
Gold is finding support in the $1280s so far but a quick dip down to $1275 would not be surprising.
http://schrts.co/aygzKrIr
Rumor has there will be no enforcement mechanism placed on China, but Trump has “gained deals only on Ag products that China needs anyway. i.e. no big deal.
The Spygate fall-out might begin to dominate the MSM as it struggles to cover its backside.
https://www.youtube.com/watch?v=RRuyNs04j_U