The Close
Trade ‘Em Down almost 700 on Monday, up 270 on Tuesday. As I have long said, this is not an investor’s market but a great trading market. Am thinking more about TIPs. Inflation will creep in towards the end of 1st quarter ’09. The ETF, …
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Marc Faber
Gloom and Doom Leave it to Marc Faber to bring everything into perstpective. Faber has a whole-world perspective that is difficult to find. It is because of Faber’s influence that I have been buying GDX, the gold miners ETF.
Back to Work
Good Morning. After a five day break I am ready to get back. We travelled to Nashville and to Chicago by car for visits with our sons Tobey and Matt and family. Good visits all but came back with a good head cold. The markets …
Too Big to Fail
Banks. The market interpreted Citi’s bailout as a signal that the government will not let large banks fail. I am not at all sure about this approach. The country has entered a phase that defies my understanding. Do we really have enough money to do …
No New News, but no bad news
Not much new: In his press conference Obama did not budge from his tax plan. He maintained his idea of increasing taxes on those earning over $250,000. The market sold of slightly. Now, the challenge for the market will be to maintain momentum, without headline …
Geithner to the rescue
It is not often that we can get the direction right, at least recently. Last night’s close screamed a snap back rally. But, we have seen similar set ups before. Traders are entering the weekend feeling better. Now, lets see if we get follow through. …
Psst, looking for yield?
From on of my screens, take a gander at these current yields. Of course, one must say they are yielding these numbers based upon the last four quarters, not the next four. Bank America 11% GE 9.7% Mc Donald’s 3.8% Pimco Corp Opportunity Fund 19% …
Gold Shines
Bears have had enough of Treasury bonds and are now headed into gold, in a big way. GLD and GG, my favorite gold plays are up 7% and 22% as I type. Fear is still rampant. Two of the 3-G’s, Goldman and Google are down …
Snapback
Morning futures indicates an anticipated snap-back rally. The sustainability of any upticks may be hampered by options expiration Friday. I am going to tip-toe back in but have close stops. I have appointments this morning but should be back by noon.
Fear, everywhere fear
It was November 1996 when the S&P last traded at 750, today’s close. Thirty year Treasury bond yields fell to 3.56%. Governments advanced at an historic rate, up 5%+. After the close they rose another 2%! Never before in history have bonds yielded so …