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Fifth Day Of Selling

Fifth Day Of Selling

Sellers in the S&P made it five days of downside in a row. On this last day it closed near the day’s lows, but also on its 200-day MA. If there was reason for a bounce, then tomorrow could be the day. Technicals are all net negative.   The Dow took the selling harder. It […]
Inflation Deniers Emboldened By Gold’s Struggles

Inflation Deniers Emboldened By Gold’s Struggles

The vultures are circling. Precious metals bulls, laid flat by gold and silver prices dropping for the 5th week in a row, are watching deflationists such as Harry Dent and the financial media squawk about the imminent demise of precious metals. The superficial and condescending coverage of the metals markets in the financial press has […]
Gold Daily And Silver Weekly Charts – Miner Miner

Gold Daily And Silver Weekly Charts – Miner Miner

There is a chart of the GDX relative to the Price of Gold. This is why some will say that the miners are ‘weak relative to the price of the metal.’ And they are. They can get even cheaper, and the underlying metal can also get ‘cheaper.’ Sentiment is obviously at a negative extreme, and […]
The Fed Is About To Rattle The Market

The Fed Is About To Rattle The Market

“Everybody has a plan until they get punched in the mouth.” This quote, one of former heavyweight champion Mike Tyson’s most famous, is always relevant when investing. After countless hours of research, diversifying portfolios and strategies, investors feel confident about weathering a market storm — until they are punched in the mouth. Today, we are […]
S&P 500 Snapshot: Day Five Of The Selloff

S&P 500 Snapshot: Day Five Of The Selloff

The big pre-open news today was the historic -8.48% Monday rout in the Shanghai Composite, an event that no doubt rattled the optimists hoping that the China benchmark index had bottomed out last week. Euro zone indexes also saw some suffering, with DAX and CAC 40 both deep in the red and destined to close […]
Final Second Quarter “GDPNow” Forecast 2.4% Vs. Bloomberg Consensus 2.9%

Final Second Quarter “GDPNow” Forecast 2.4% Vs. Bloomberg Consensus 2.9%

The Atlanta Fed second quarter GDPNow final estimate came in at 2.4%.  The second quarter GDP official “advance” estimate from the BEA is due out Thursday, July 30 along with the annual revision of the National Income and Product Accounts (NIPA). The Bloomberg Consensus Estimate for second quarter GDP is 2.9%, a half percentage-point higher than the Atlanta Fed […]
Thoughts From The Frontline: Europe: Running On Borrowed Time

Thoughts From The Frontline: Europe: Running On Borrowed Time

“I am sure the euro will oblige us to introduce a new set of economic policy instruments. It is politically impossible to propose that now. But some day there will be a crisis and new instruments will be created.” – Romano Prodi, EU Commission president, December 2001 Prodi and the other leaders who forged the […]
5 Worst Performing ETFs Of Last Week

5 Worst Performing ETFs Of Last Week

The U.S. stock market suffered its worst week (ending July 24) in months thanks to disappointing earnings results, especially from Apple (AAPL), Caterpillar (CAT) and International Business Machines (IBM) as well as a string of bleak sales or earnings outlook (read: 4 ETFs to Watch Post IBM 2Q Results). This is especially true as total earnings […]
SP 500 And NDX Futures Daily Charts – Rinse-A-Matic

SP 500 And NDX Futures Daily Charts – Rinse-A-Matic

Stocks in the US continued to slide, in sympathy with China and a generally poor outlook for the world of real productivity and wealth. And in large part this is the rinse cycle of a wash-rinse stock market operation conducted by insiders that took US equity prices up to unsustainable levels in the first place.  […]