As the short term price action declines off the years highs in stocks and commodities it seems important to me that one look at the price action so far this year as a big distribution area for a Macro top…Continue Reading →
In what was probably his best speech ever, Ben laid it on the line yesterday. He is frustrated with fighting the idiotic House Republicans and the greedy bankers. He know that a much more ambitious jobs program was needed in…Continue Reading →
There is so much to say at this point in the long secular cycle, but the most important point right now is that the problems in the economy are structural. Probably the most important thing that was done by Washington…Continue Reading →
The support program that we suspected would be put in place at 1316 on the S&P worked for a few days. Now the test will come. Our most longterm computer programs turned bearish on 5/16/11 at 1317 on the S&P. …Continue Reading →
The tepid rally of the stock and commodity markets since the hope for indications of signs of QE 3 out of the Fed minutes earlier this week is behind us. Short term sell and flash crash indicators are all locked…Continue Reading →
The time will come that the Fed and Congress will have to jointly concede that the economic issues we are facing are structural and cannot be fixed by continuing what led us into this mess, ie. cheap money. In the…Continue Reading →
The fact that oil broke through the 98 dollar level to the downside yesterday is an indication that a new reality is now developing. The economy is not as hot as many thought and oil trading in the 90 to…Continue Reading →
It might be easier to ignore the markets rather than put in a lot of thought at the moment. This is due to the fact that Washington Budget resolution is the big piece on the table now. The runup in…Continue Reading →
With the employment report out today you see the basis for relatively benign price action on stocks and oil for the rest of the year. While we have probably seen the bulk of employment gains for the year, the Fed…Continue Reading →
We try to keep our focus on the Macro Picture. The markets yesterday tried to hang on to micro factors but the macro eventually moved to the forefront. You have to look at when the gold market started its upmove…Continue Reading →