We are seeing what we view as the expected final rally of the rolling top and will be completing our short stock positions today. Update at 2:00 PM See a few facts that have come out today: http://seekingalpha.com/article/1684932-3-indicators-that-signaled-the-2007-top-theyre-back?source=email_rt_article_readmore
We are refining and moving up the end date for the rolling top. We now see it ending in the last half of September and see the following pieces as a two part structure. Briefly, the market top is developing…Continue Reading →
Gross Domestic Production numbers will be released this week. They will probably be reduced from the previous 1.8 % , possibly down to a sub 1.0 number of 0.8 %. It is an indication that what you see in the…Continue Reading →
A post on Slate yesterday was a good review on Obama’s effort to take the economic message to the people. What he said in his speech was basically correct. My view is inequity for the middle class is a function of a…Continue Reading →
This may trouble your financial advisor, if you have one, hopefully not, but the asset index we follow of stocks,bonds, commodities, oil, dollar, and gold, topped out on September 13, 2012. Here we are some 10 months later and stocks…Continue Reading →
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.