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The Clock Is Ticking
More bad news hit the tape today regarding Fannie Mae (FNM) and Freddie Mac (FRE). > read more
Shaking A Different Kind Of Moneymaker
2009 Luxury Car Preview
CPI = Inflation, Minus Inflation.
Inflation? What Inflation?
How do you know when the market will go up? When a plethora of bad news is ignored. > read more
Financials vs. Oil - Part II
Yesterday's non-Olympic pugilists went toe to toe again for the right to make Mr. Market do the winners bidding. Unlike yesterday, however, both financials and oil ganged up on Mr. Market and beat him down. But Mr. Market had other ideas; he decided to ignore them both and staged a powerful but fleeting rally. > read more
Financials vs. Oil
Yesterday's title bout was not between two Olympic pugilists, but between the financial and oil sectors; the victor would make Mr. Market do its bidding. > read more
Oil Equities Seesaw
"Of Course, Hope Springs Eternal So It May All Vanish By the Open..."
My last update mentioned how there had been a great deal of bad news that market tried to ignore, but in the end succumbed to it. The very fact that the market tried to disregard this new spate of data was interesting. Was it a tell? I thought it might be, which is why I ended the first paragraph with, Of course, hope springs eternal so it may all vanish by the open. Well, that sure happened Friday morning: all concerns were gone. > read more
The Banana Peel
There was a lot of new information that had to be ignored today, and the market almost got away with it as it tried to rally for the first 5-hours after a gap lower open. But in the end the avalanche of bad news proved too much to ignore. Like a cartoon character walking past a banana peel, it slipped as it stepped on it causing the character and market to come crashing down. Of course, hope springs eternal so it may all vanish by the open. > read more
Housing Back On The Front Burner
Yesterday's bad news couldn't stop the left-over enthusiasm of yesterday's rally. Regardless of the Freddie Mac (FRE) results, the low volume rally continued. > read more
FOMC Day
Another drop in the oil market ignited a fire under the bull's right from the open today. The rally was on surprisingly low volume before the FOMC announcement that just wouldn't quit. In fact, I can't remember one time where I saw a huge rally that kept making new highs just 20-minutes before the announcement. > read more
Mixed News Yields A Mixed Up Market
More weak economic data today led to an early drop across all the major indices, but a surprising fall in oil futures really mixed up investors. The oil drop led equities to rally, which was followed by weakness, then another rally, then major weakness again. In the end, the market was as mixed up as a can of mixed nuts. > read more
Trader Bonuses: The Real Deal
Optimism
Investors have their faith in equities back. With little new news of importance, equities exploded today adding 186.13 to the Dow and 21.06 to the S&P500. Investor faith is a fickle thing these days; how long will it last? The last 2-days this week should be a good barometer with the GDP and monthly jobs data scheduled for release. > read more
Morgan Stanley: Where The Jobs Are
Death By A Thousand Cuts
The market was hammered again today, not by anything in particular, but by everything. Today's stew of news had a bearish flavor sending the Dow down -239.61 points and the S&P down -23.39. There was news of two more bank failures over the weekend, oil rallying, bank weakness, safe haven buying of bonds, etc, etc. > read more
Banks Are Sound, Trust Us
Real Time Trading Signals
Equities were hammered today with the indices losing more than 100% of the week's gains. The Dow closed down -283.10 while the S&P500 was off -29.65. Apparently the brief love affair between the long-only investor and beaten down stocks may be over: stocks have lost that loving feeling. Then again, there's always tomorrow, which is enough time for the government to intervene again to help the not-so-free market rally yet again. > read more
Paulson: "Banks Are Sound"
Hank Paulson has been on television, in front of Congress, and speaking to reporters with one message: banks are fine. > read more
Earnings Day: Part 2
Yesterday I mentioned the big name earnings announcements, which were pretty awful, but I also mentioned oil when I asked, "Will oil exacerbate this drop tomorrow, or will the hurricane veer off course causing oil to fall?" The answer is that the hurricane veered away from the oil platforms in the Gulf, which caused crude oil futures to fall again. This drop in oil was the salve that cured the rash of terrible earnings -- prompting the Dow to close up 135-points. > read more
Earnings Day
Yesterday's trade was not so much about the oil market's rally (again) with a hurricane in the Gulf, but rather the earnings coming out after the close. > read more
SEC Enters The Protection Racket
A protection racket is an extortion scheme whereby a powerful entity or individual coerces other less powerful entities or individuals to pay protection money which allegedly serves to purchase "protection""services against various external threats. I doubt Wall Street banks are paying the SEC any extra cash, but they sure are being protected. With the new naked short selling rules that begin Monday for a select few, the SEC is now operating a protection racket on a grand (financial) scale. > read more
Big Brother Is Watching You
George Orwell's novel, 1984, was a scary description of a totalitarian society in which the government had almost total control over the people. Although it hasn't gotten to that point now, it is starting to feel like this is the current direction of the capital markets in the US. > read more
Why Oil Prices Won’t Be Falling Anytime Soon
Head Butler -- Books: The Spies of Warsaw
The "spy" is "an ordinary-looking man, who led a rather ordinary life" -- he's a mid-level engineer at a German ironworks, married, with three children. But as he takes the train to Warsaw in the autumn of 1937, his leather satchel contains some engineering diagrams. Once in Warsaw, he'll give them to his contact. > read more
To The Moon Alice
Technicians at Wall and Broad were seen filling the market's 15-story tall fuel tank this morning with more than 1.9-million liters of super-cold liquid oxygen and liquid hydrogen. Shortly after the market opened somebody yelled, Hey, let's light this candle! It was either that or I heard one of my buddies in the pit do his best Ralph Cramdon imitation as he yelled, To the moon Alice! Either way, equities took off, nearly leaving Earth's atmosphere; however, something weighed it down. > read more
Sold To You! Bagholder Meet Pain
The government's attempt to shore up FNM and FRE haven't worked if today's market action is any indication of the eventual outcome. > read more
Wall Street Hubris Meet Thy Reward: Insolvency
Ten Busted Myths
Today was another wild day in the S&P futures pit! Some early volatility was attributed to Wal-Mart's better than expected earnings that didn't contribute to an immediate market rally. > read more
What The Market Giveth, The Market Taketh Away
More Socialism To The Rescue
Today was another very volatile day in the SP pit at the CBOT. The SP volume was very heavy today right from the open, which led to volatile swings both up and down before the first hour of the day had ticked off the clock. However, the enormous one-way volatility (rally) didn't start until Hank Paulson spoke this afternoon. Like my guess at the end of yesterday's missive, apparently the new accounting rules will not apply to Fannie Mae and Freddie Mac. > read more
Extreme Volatility
After a decent open this morning the market ran into resistance. For two-hours after the open, the market traded in a small range but then it changed -- the market suddenly dropped like a rock. From the bottom a mirror image took place: after two hours of a small range, the S&P 500 suddenly exploded. When the dust settled, the indices had all closed lower. > read more
Flight to Quality
To June: Good Riddance?
Today was another mixed-session as the bulls and bears grappled all day. > read more
Why Oil On Its Way to $200
Worst June Since The Great Depression!
Stocks finished the week sharply lower with surging oil prices and a resumption of falling financial & bank stocks amid heightened concerns about the sluggish economy. At one point on Friday the Dow had fallen 20% from the peak in 2007, marking an official entry into bear-market territory. The major indexes were all down more than 3% for the week. > read more
Face-to-Face with a Polar Bear
The polar bear in the Central Park Zoo is far from reality. Sure you can get close, but a layer of glass obscures the view. You never get to become a part of the experience. The Travel Lab, on the other hand, puts you in the bear's natural habitat. > read more
A Deal is A Deal
Nice Day, +30.50 Points In The Virtual Trading Room!
Commodity Boogey Man
A New Batch Of Bearish Data
Holy smokes! I don't know how this morning's news and economic data could have been worse, yet the markets made a mind-boggling advance from the low. > read more
Seeing People Experienced with Past Google Acquisitions
My client is seeking a dealmaker with a track record of expediting acquisitions with Google in particular. My client has a patent-protected real-time market data application that he feels Google would benefit by, and is seeking expert help in preparing to be acquired, or more accurately, partially acquired. The existing United States market for this sort of real time data application is on the order of 200,000 monthly or annual subscribers spread among a few key players--though there is a similar demand in every place with real time trading markets. This new technology offers everything those players offer, and now another paradigm of radical improvements. We want to know how to understand market valuations and negotiating patterns with Google, and perhaps have a 3rd party with such experience broker the deal. > read more
Congressional Madness
Congress held another circus today regarding oil and gasoline prices. Lawmakers brought before the House Energy and Commerce Committee four analysts that said exactly what they wanted to hear: speculators are to blame for increasing fuel costs. Gee-wiz, Congress found some analysts that agreed with what it wanted to hear, which isn't always right or even the truth. It's odd that there weren't dissenting opinions -- isn't it? > read moreSearch Again |
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