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07/29/10 - U.S. stocks close lower Thursday. DJIA down 31 points... 07/29/10 - U.S. stocks close lower Thursday. DJIA down 31 points... 07/29/10 - U.S. stocks close lower Thursday. DJIA down 31 points... 07/29/10 - U.S. stocks close lower Thursday. DJIA down 31 points...

Real-Time Update

Bear Funds Scoreboard

More fund info on our
Bear Funds Page
ETFs delayed 15 minutes,
Mutual funds end of day.

Symbol	Price	Change
BGZ	14.62	0.22
BIS	73.91	0.37
BRIS	37.82	-0.08
BZQ	21.40	-0.22
DDG	52.54	0.38
DOG	50.17	0.14
DPK	13.25	-0.17
DUG	63.42	-0.08
DWM	42.88	0.12
DXD	26.69	0.21
EDZ	36.09	-0.11
EEV	45.72	-0.12
EFU	36.14	-0.30
EFZ	57.79	-0.23
EPV	19.74	-0.12
ERY	51.41	-0.05
EUM	36.54	-0.08
EWV	45.65	-0.48
FAZ	13.81	-0.07
FCGS	40.03	0.00
FXP	36.12	0.11
INDZ	35.13	0.00
JPX	16.63	-0.14
MWN	17.33	0.26
MYY	40.62	0.21
MZZ	17.95	0.22
PSQ	42.09	0.27
QID	17.31	0.26
QLD	57.65	-0.88
REC	5.70	0.00
REK	45.40	0.36
RETS	39.08	0.00
REW	21.56	0.34
RFN	5.05	0.00
RHO	36.81	0.00
RMS	27.02	0.00
RRZ	31.17	0.00
RSW	52.74	0.46
RTW	18.25	0.00
RWM	40.06	0.11
RXD	37.97	-0.13
SBB	35.31	0.05
SBM	51.26	1.42
SCC	32.39	0.41
SDD	20.79	0.16
SDK	22.30	0.19
SDOW	62.00	0.75
SDP	18.90	0.50
SDS	32.56	0.31
SEF	41.11	-0.02
SFK	33.46	0.58
SH	51.17	0.24
SIJ	19.24	0.19
SJF	46.33	0.59
SJH	20.60	0.04
SJL	20.76	0.05
SKF	19.98	-0.05
SKK	16.02	0.05
SMDD	51.86	0.62
SMK	20.95	0.13
SMN	35.43	-0.12
SOXS	30.36	1.66
SPXU	31.50	0.42
SQQQ	57.41	1.43
SRS	23.79	0.40
SRTY	46.82	0.26
SSG	16.11	0.63
SZK	36.38	0.43
TLL	12.38	-0.05
TWM	19.81	0.09
TWQ	22.97	0.26
TYP	39.58	1.07
TZA	31.85	0.20
YXI	47.35	0.30
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Thursday July 29, Market Summary

Stocks U.S. stocks zag and zig; DJIA closes down 31 points.	Gold Gold rallies, $8; hovering near $1,168.	Currencies U.S. dollar index plunges again; now below 81.50.

Make sense of choppy markets.	Is gold still a buy?	Is it time to buy the Euro?

Stocks Drop, Led By Technology Shares; Euro, Commodities Rise

By Rita Nazareth (bloomberg.com)

July 29 — U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for a third day, as earnings and forecasts disappointed investors at technology and consumer companies. A gauge of commodities rose to a 12-week high on speculation the economic recovery will boost demand.

The S&P 500 slipped 0.4 percent to 1,101.5 at the 4 p.m. close in New York, trimming its July advance to 6.9 percent. The Stoxx Europe 600 Index fell 0.4 percent, wiping out earlier gains that sent the gauge above its highest close in 12 weeks. Read more.

Comex Gold Closes Higher on Short Covering, Bargain Hunting

By Jim Wyckoff (kitco.com)

July 29 — Comex gold futures prices closed higher and nearer the session high on Thursday, supported by short covering and some fresh bargain-hunting buying interest at lower price levels. A solidly lower U.S. dollar index and higher crude oil prices were also underlying supportive factors for the gold market. December gold closed up $8.80 an ounce at $1,171.20. Spot gold was last quoted up $4.50 at $1,168.50. Read more.

Taleb: Government Deficits Could Be the Next 'Black Swan'

By Ben Steverman (businessweek.com)

July 26 — In a new edition of The Black Swan, author Nassim Nicholas Taleb warns against depending "on financial assets as a repository of value"

The Black Swan: The Impact of the Highly Improbable is a philosophical treatise on uncertainty that managed both to entertain readers and to predict the financial meltdown of 2008. Nassim Nicholas Taleb—the book's author, who is also a trader and university professor—has reissued his 2007 best seller in a second edition that includes a new 73-page essay, "On Robustness and Fragility." Read more .

Robert_Prechter_80x100

July 21 — Bob Prechter and our friends at Elliott Wave International have just announced the beginning of their wildly popular FreeWeek event, where they throw open the doors for you to test-drive some of their most popular premium services — at ZERO cost to you.

You can access EWI's intraday, daily, weekly and monthly forecasts from EWI's Energy Specialty Service right now through noon Eastern time Wednesday, July 28. This service is valued at $347/month, but you can get it FREE for one week only!

Learn more and get instant access to EWI's FreeWeek of Energy analysis and forecasts now — before the opportunity ends for good.

P.S. FreeWeek is one of EWI's most popular programs, and it's perfect for anyone curious about EWI's subscription services. Please don't hesitate to tell your friends about the exciting opportunity FreeWeek provides.

Sell Now, Buy Later — the ABCs of Short Selling

The catch phrases “Buy low, sell high” and “The market fluctuates” are probably the two most frequently used clichés of the investment world. The latter statement is hardly astute, and the former far easier said than done. What both of these simplistic ideas overlook is a third concept largely ignored by the investing public, “Sell now, buy later.”

The idea of selling something that you don’t yet own is a foreign concept to many. However, in a powerful bear market, it’s an important strategy to understand and utilize, though for reasons I’ll discuss below, only as a relatively small and closely watched speculative portion of your portfolio. The concept I’m referring to, of course, is short selling. Read more.

The Death of Paper Money

By Ambrose Evans-Pritchard (telegraph.co.uk)

July 25 — As they prepare for holiday reading in Tuscany, City bankers are buying up rare copies of an obscure book on the mechanics of Weimar inflation published in 1974.

Ebay is offering a well-thumbed volume of "Dying of Money: Lessons of the Great German and American Inflations" at a starting bid of $699 (shipping free.. thanks a lot). The crucial passage comes in Chapter 17 entitled "Velocity". Each big inflation -- whether the early 1920s in Germany, or the Korean and Vietnam wars in the US -- starts with a passive expansion of the quantity money. Read more.

"The Largest Fraud in History"

Editor's Note: For more than 10 years, Bill Murphy and Chris Powell of the Gold Anti-Trust Action Committee (GATA) have been working tirelessly to document and expose the deliberate and fraudulent manipulation of the gold and silver markets by multiple governments and large banks. We urge you to become familiar with the details of these issues, as this ticking time bomb is unraveling more and more every day.

July 25 — "The LBMA joins the gold squeeze cover-up" by GATA director Adrian Douglas:

July 22 — "Golden Shell Games" by Addison Wiggin.

Is It a Deflationary Depression?

By Editorial Staff (thedailybell.com)

July 28 — Drip after drip of deflation data ... Today's release on manufacturing activity by the Richmond Fed is pretty ghastly, as you would expect given that the effects of fiscal stimulus are now wearing off at an accelerating pace – before the happy handover to the private sector is safely consummated – and given that the structural East-West imbalances that lay behind the global crisis are getting worse again ... This follows yesterday's horrendous fall in the Texas business activity index from the Dallas Fed, which fell from -4 in June to -21 in July. "Thirty-one percent of firms reported a worsening of activity, up from 22 percent in June," said the bank. Read more.

SEC Says New Financial Regulation Law Exempts it From Public Disclosure

By Dunstan Prial (foxbusiness.com)

July 28 — Under a little-noticed provision of the recently passed financial-reform legislation, the SEC no longer has to comply with virtually all requests for information releases from the public, including those filed under the Freedom of Information Act. So much for transparency.

Under a little-noticed provision of the recently passed financial-reform legislation, the Securities and Exchange Commission no longer has to comply with virtually all requests for information releases from the public, including those filed under the Freedom of Information Act. Read more.

CBO Warns of Greek-style U.S. Debt Crisis

By Thomas R. Eddlem (thenewamerican.com)

July 28 — The non-partisan Congressional Budget Office released its most dire warning yet of a looming U.S. debt crisis, openly comparing the U.S. budget situation to the Greek, Irish, and Argentinian debt crises and calling for a 20 percent cut in the size of the federal government. The July 27 report, “Federal Debt and the Risk of a Fiscal Crisis,” comes just days after the Obama administration revised upward its deficit projections for fiscal 2010-11 to a two-year total of $2.89 trillion. The CBO had labeled the federal spending path “unsustainable” in a June report. Read more

Recessions in U.S. May Be More Frequent and Severe, Soss Says

By Courtney Schlisserman (bloomberg.com)

July 21 — The fallout from the worst recession since the 1930s means U.S. contractions will be more frequent and severe, according to Neal Soss, chief economist at Credit Suisse in New York. “The era of rare, brief and mild recessions from the early ’80s to the mid-2000s is over,” Soss said today on a conference call.

Increased regulation and a drive to hold less risky assets such as cash following the financial meltdown will eliminate some of the instruments that helped smooth out economic growth over the past two decades, particularly in the U.S., Soss said. The current slowdown, while unlikely to result in a renewed downturn, will seem worse because the rebound has been weak. Read more.

07/29/10 - Don't Lose Sleep over Deflation

By Michael Pento
Senior Economist/VP

After hearing the dire warnings of deflation that have become the standard talking points of most economists, American investors may be reaching for a bottle of Prozac. I believe that their anxiety is misplaced. Unfortunately, modern economists don't understand what deflation is or why, in reality, we have much more to fear from inflation.

07/26/10 - Technicals vs. Fundamentals: Which are Best When Trading Crude Oil and Natural Gas?

Robert_Prechter_80x100

By EWI Editorial Staff

If "fundamentals" drive trend changes in financial markets, then shouldn't the same factors have consistent effects on prices? For example: Positive economic data should ignite a rally, while negative news should initiate decline. In the real world, though, this is hardly the case. Just read these four oil price headlines from July 22 and 23. (And get FREE access to EWI's latest energy market forecasts!) Read more.

07/26/10 - How to Buy Your Kids a House

clark-jeff

By Jeff Clark
Casey's Gold & Resources Report

I don’t have a crystal ball, but I’ll bet I can tell you how much a house will cost in five years.

UBS released some interesting research last month on how much gold it takes to buy the average-priced home in the U.S. I put the data to a chart, and it’s quite revealing.

07/22/10 - Quadrillion Dollar Debt: 'Day of Reckoning' Looms

Robert_Prechter_80x100

By EWI Editorial Staff

What Will Happen as $1,000,000,000,000,000 in Global Debt Winds Down?

A thousand trillion in debt can't be wished away or swept under the rug. No one can "forgive" the debt. The consequences of unwinding this debt could be as massive as the dollar figure itself... Read more.

More news from around the globe...

Bear Market Reader

More news of the day.hand-picked by our editors, as well as guest contributions.

07/21/10 — Sultans of Swap: Gold Swaps Signal the Roadmap Ahead
By Gordon T. Long

07/11/10 — The EU Banking System Is In Big Trouble
By Mike Whitney (blacklistednews.com)

07/11/10 — Crisis Awaits World’s Banks as Trillions Come Due
By Jack Ewing (nytimes.com)

07/10/10 — Harry Schultz on the Power Elite, Free Markets, the Internet and Why Gold Is Going Much Higher
By Scott Smith (thedailybell.com)

07/09/10 — Re-casting Prechter: Why His Call For a 1000 Dow Might be Only “Technically” Wrong
By Tom Au

"Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it." — Will Rogers

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