Half-way through this Thursday’s trading day, and the major US indexes are all up slightly.  The DJIA and S&P 500, if they continue this, will have three consecutive days of positive gains.  The Nasdaq was down slightly Tuesday, but it’s still promising for all investors that the market is continuing upward (even if just slightly) after a bull-day yesterday.  So far, the DJIA is up just 2.04 points, the S&P500 is up 4.67 points, and the Nasdaq is up 12.73 points (A percentage gain of 0.02%, 0.41% and 0.58% respectively).  Although it’s early, it’s a good sign for the economy that the stock market has recovered some of the ground lost during last month’s abysmally poor showing.

According to Benzinga, BP plc (NYSE:BP) is projecting to raise $27.3 billion in capital for costs relating to the oil spill in the Gulf of Mexico.  The company originally aimed to raise between $20-$30 billion.  Yesterday, the London-based oil giant announced the sale of $363 million in assets in Malaysia.  There’s currently an effort to liquidize further global assets in Pakistan and Vietnam.  BP announced a record loss of $32 billion last quarter, due mostly to the oil spill.  So far, their…

One of the most bullish charts in recent times has been the path taken by the yellow metal. It’s climbed relentlessly with barely a pause, but there’s evidence it’s due for a fall in the near future.

Take a look at this weekly chart of the gold price, particularly the rising red bar on the price and the falling red bar on the MACD indicator below …

As noted on the chart, the recent new high in the gold price was not supported by a new high in MACD. This is called “divergence” between the price and a key indicator. Normally this means the price will fall, often significantly, as there’s no true momentum in the latest price rise.

So does this mean the gold bull is dead?

Not at all. But it does mean there’s an opportunity to make some money on the short side of gold. And maybe pick up some metal (or gold stocks) more cheaply in the next few weeks.

The first level to which gold should drop would be $1145/oz, right at the 50 week moving average. That was also previous resistance, so it’s likely to form at least temporary support too. And it…

First Energy analyst Martin King – whom I believe has called the natural gas market in North America better than anybody over the last two years – gave up on the likelihood of higher natural gas prices for the next 18 months in a report today, Aug 30.

“Let us reiterate: placing money in the natural gas investment space, aside from special one-time circumstances, is likely to be dead on arrival”  he wrote this morning.  He lowered his forecast for prices in the US for 2010 by 40 cents per million BTU, and in 2011 by a full dollar per million BTU (Mmbtu).

Back in February 2009, he was one of the very few calling for a spring rally in gas prices – but there was one.  Throughout July and August 2009 he counselled investors that a big seasonal run was coming in natural gas prices and gas stocks – and he was right. (See my story on this here: http://oilandgas-investments.com/natural-gas/another-natural-gas-bull-sticks-his-neck-out-natgas-stock-for-4th-issue/)

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