The Macro indicators that I lean on (and include T-Bond, dollar, commodity, and gold inputs) are not confirming that the S&P high close today is an indication of anything but a narrow focus on the only game still in town. …Continue Reading →
To us it appears apparently not, as the FED continues to not allow the market to price in the risk that artificiality builds. The S&P 500 has created a pivot the past few days and is now coiling in the…Continue Reading →
1. Bernanke has not fixed anything with QE2 and QE3, just made the overall situation more risky. We have never seen this kind of Fed invasiveness in terms of size or time. 2. Everyone will want to get out on…Continue Reading →
The next three days are the key period in this whole show that started with QE2 three years ago. If we get an upside breakout in stocks that holds through the Wednesday close we will exit our short stock position,…Continue Reading →
Markets are eagerly awaiting Bernanke’s latest idea in his news conference today. It would be a big surprise if he changes his stance on anything, so don’t look for much. It is striking that in the little Cyprus issue this week…Continue Reading →
Overnight the stock indexes caught a sell but this morning the happy talk people are back at buying. And guess what, they bought gold just in case they were in trouble. So where are we, in my opinion until the…Continue Reading →
Happy talk continues , consumbers borrow for new cars, Washingon floats crazy budgets. What is not to like? Maybe just a rising risk meter.
The Financial ETF “XLF” had a high of 18.37 yesterday. To put that in perspective the low for that ETF before the run into the bubble in 2007 was 18.52 in October 2002. The bubble high that followed in May…Continue Reading →
On our links page we have three links. We don’t need more because they are some of the the best available. One is John Hussman’s link. Here is a little piece of a much larger analysis that he published last week:…Continue Reading →
The market now has its base numbers for the pre-austerity period. It will probably take about three months for the austerity effects to start showing up. The corporate CEO’s have now bought into a recovery mood, that is a significant piece…Continue Reading →