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And Then There’s This…Friday, March 6th, 2009

Contrarian Profits (March 6th, 2009) Writes:

The tiny double bottom that occurred shortly after the close of Comex trading on Wednesday afternoon may have been the low in gold for this move. Both were ever so slightly below $900. From there, gold rose gradually until about an hour after the London a.m. gold fix on Thursday morning. Then it declined gently until shortly after the London p.m. fix was in. From there, away it went…until a not-for-profit seller showed up in after-hours Globex trading in New York and capped the little price spike that occurred at 3:30 p.m. New York time.

click to enlarge

Silver’s antics were the same as gold’s, although the price action was more exaggerated. Silver began to rise once the London a.m. gold fix was in…then declined until shortly after the London p.m. fix…and then, it too, was off to the

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Senate Rejects Auto Bill; White House May Utilize Other Funds

QualityStocks (December 12th, 2008) Writes:

Stocks opened lower today, although not as low as some might have anticipated, after the Senate opposed the auto bill. “This bill is an incredibly weak bill, it’s the product of an administration that wants to kick the can down the road, and I think it has minimal, very little support in our caucus,” Sen. Bob Corker stated.

However, investors are still holding out hope for a bailout as the White House considers using the Wall Street rescue fund to help troubled auto makers. President George W. Bush’s press secretary says it would be “irresponsible” to further weaken the economy by letting the car companies fail.

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Auto Bailout Awaits Congressional Approval with Millions of Jobs at Stake

Contrarian Profits (December 11th, 2008) Writes:

Congressional Democrats and the White House yesterday (Wednesday) finalized a short-term package that’ll supply General Motors Corp (GM), and Chrysler LLC with $14 billion in emergency loans.

The bill clearly falls short of the $34 billion the Big Three were asking for, but should be enough to keep the automakers running through January, when the new Congress and Obama administration take the wheel.

As previously reported in Money Morning, there will be limits on executive pay, prohibitions for golden parachutes and requirements that the automakers get rid of their corporate aircraft and not pay dividends while loans are outstanding. The bill also provides a “car czar,” or presidential appointee, to oversee keep tabs on the companies’ restructuring efforts.

Of course, the bill is still awaiting congressional approval and there is cause to believe it may stall in the Senate.

Sen. Richard Shelby, R-AL,

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