In looking through the fundamentals and charts this morning nothing stands out. The stock market has been on a short term Fed induced rally since July 10th and is extended above the shorterm swing area of 1657 on the S&P,…Continue Reading →
Congress and the market are giving a big thank you to Ben today as his era moves to a close. While he has done a lot for short term players in the markets, the long term consequences of enormous liquidity…Continue Reading →
Things are not so good for the economy apparently, no surprise. We remain out of the Dollar after exiting long positions recently. Our long position in Gold and T-bonds that we put on recently will remain. Today we will add…Continue Reading →
Look at two headline articles on the front page of yesterday’s New York Times. Financial Crisis Just a Symptom of Detroit’s Woes – a story about the collapse of Detroit. Words to Start a Stampede: New York Apartment for Sale…Continue Reading →
Fridays employment report provided a little excitement but the fact remains that deflation risks have not gone away. Part time jobs increased the most, but consumer incomes continue to be well below 2007 levels. See chart here from Doug Short.
Our posts from last week pretty much sum up where we are at the moment. The May-October trading range prevails. Keep in mind the S&P swingpoint at 1625 for the trading range. This provides resistance on rallys from the lows…Continue Reading →
It is end of quarter time and Fund managers this week have been dumping what didn’t work for them during the quarter, gold and T-Bonds and keeping what did work, stocks. With the markets at a roll over juncture this…Continue Reading →
This is a price trade. With all the unknowns creeping in and the gold price now down in the top end of what we view as a $ 900 to $ 1250 long term buying zone, we are putting on…Continue Reading →
Lately we have seen the outlook of consumers getting better while their income is decreasing. How does this work? Probably it is due to a better feel in home prices. In any case today’s GDP numbers point out that what…Continue Reading →
Interest rates are still the driving force here. The stock market price is still relatively stronger than the T-Bond price. This is a time to be keenly aware and see who lifts their finger first.