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Archives by Year:
Are Hedge Fund Managers The Dinosaurs Of The Digital Era?
1636 was a very good year, and 1637 was a very bad year. The world experienced Tulipmanie, or infamously remembered as the Dutch Tulip Mania. At the height of the bubble, a single stem Sempres tulip was exchanged for 12 acres of land! But by February 1637, this mania was turned on its head. Ever since […]
The Fed’s Newest Double Standard
Collectively, we just got screwed again, and I bet most people didn’t even know it. It happens so many times, particularly at the hands of the Federal Reserve, it’s hard to keep track. A new bank called The Narrow Bank, or TNB, recently applied for an account with the Fed. This would give the bank recognition by […]
Homebuilders Continue To Break Down
While the S&P 500 didn’t go negative until the end of the trading day following the Fed’s rate hike, the homebuilder stocks were down on the day much earlier. After initially gapping higher at the open following what appeared to be a strong earnings report, KB Homes (KBH) quickly reversed its gains to trade lower by 3% […]
Market’s Price Of Everything And Value Of Nothing
The real quote is, “nowadays people know the price of everything and the value of nothing.” Oscar Wilde, immortalized in bronze, waits for the rain to stop. Value has little to do with price. And vice versa. In the case of the market and particularly commodities, that is especially true. A commodity’s price when cheap, […]
October Gas Reverses Hard Into Expiry
After prices attempted to bounce on cash strength this morning, the front of the natural gas strip sold-off hard into the settle and October contract expiry, with the November contract seeing the largest losses of the day. This reversal fit in perfectly with the expectations, the November contract will set a short-term high over the […]
Markets Weaken With Russell 2000 Leading Lower
That one-day bounce in the Russell 2000 last week is looking like a long time ago as today finished with a cut below its 50-day MA. Technicals are fading fast as relative performance begun a cliff fall. While other indices haven’t shown this same level of weakness it’s a worrying start as Small Caps typically lead. […]
Argentina Gets Record $57 Billion As IMF Boosts Bailout, Creates “No Intervention” Zone For The Peso
Just a few months after the IMF announced in June what was a record-setting $50 billion, 36-month bailout agreement with Argentina, the International Monetary Fund said it would expand the credit line to $57 billion in an attempt to halt the economic and financial crisis that has sent the country’s currency plunging over 50% this year, and […]
Richmond Fed Index – Record High
Richmond Fed Index – New Record It appears manufacturing activity in September was strong based on the regional Fed indexes and the Markit flash reading. There could be weakness in the service sector as was shown in the flash Markit reading. As you can see from the chart below, the Richmond Fed manufacturing index hit […]
Nasdaq Up 9 Quarters In A Row … Again
The Nasdaq Composite is set to finish higher for the 9th consecutive quarter when exchanges close this Friday, September 28th. (With a QTD gain of more than 6%, it would take a dramatic plunge over the next two trading days for the quarter to end in the red.) Below is a chart showing streaks of […]
2 Reasons The Surging Deficit Worries Me
If you’ve been reading my work for any of the last 10 years you know that I’ve sounded like a broken record for much of that time – the USA isn’t bankrupt, interest rates aren’t going to rise significantly and inflation is contained. All of this was based on an operational understanding of the monetary system within […]
