Author Archive: Jeremy Parkinson
Tax Reform: The Devil’s In The Details
Over the years, one of my “beats” has been an occasional publication called the Legislative Defense Alert. The idea was to warn readers of legislation that might threaten their wealth, so they could prepare. There was only one problem: After the 2010 midterm elections, nothing ever happened on Capitol Hill. There was plenty of light, of […]
Two Measures Of Inflation And Fed Policy – Monday, Jan. 29
Note: The charts below have been updated with the latest Personal Consumption Expenditures price index from the Bureau of Economic Analysis. The annualized rate of change is calculated to two decimal places for more precision in the side-by-side comparison with the Consumer Price Index. The BEA’s Personal Consumption Expenditures Chain-type Price Index for December, released this morning, shows […]
E Bull Market Or Hyperinflationary Market?
More than a decade ago several insightful people recognized that the bond market as it related to the then AAA-rated mortgage-backed bonds was a well-crafted illusion. The eventual default in these bonds fostered a market meltdown which was within hours of totally freezing up markets, creating a global financial crisis. The stock market reflected this […]
Warning Sign: Retail Investors Finally Join The Party
The global equity markets are off to a red hot start and optimism is at an extreme following the tax reform bill to close out 2017. In Davos, billionaire hedge fund manager called it “stupid to own cash.” Last week saw a record inflow of $33.2 billion into stock ETFs and mutual funds according to […]
Traders Dump Wynn Resorts
The price of Wynn Resorts has plummeted the past couple of days, as shown on the daily chart below of WYNN. The momentum indicator has fallen below the zero level and volumes have spiked. A bigger-picture view reveals that price spiked briefly above the 76% Fibonacci retracement level and has now dropped below its 60% Golden Ratio level, […]
Market Talk – Monday, January 29
Most core Asian markets turned negative but only towards the end of the trading session. The Nikkei appeared happy playing in positive territory but tended to drift as we approached the close of the day. There was talk of different reports hindering sentiment but it was the unknown and the speed of the decline that […]
February Natural Gas Closes The Gap Into Expiry
The February natural gas contract expiry today was one of the most anticipated in awhile, and it did not disappoint. After a rather significant gap down last evening on medium-range heating demand losses, prices rallied through the day and spiked into expiry, expiring 3.6% above the Friday options expiry settle. Despite all this excitement into […]
USD/CAD – Looking For 1.24
USD/CAD is trying to find a base above 1.23. The latest NAFTA talks ended with U.S. trade representative Lighthizer saying “The U.S. views NAFTA as a very important agreement. We’re committed to moving forward. We hope for NAFTA breakthroughs next month, but the talks need to move at a faster pace,” before the next […]
Bond Bloodbath Sparks Stock Slump As Dollar ‘Dead-Cat’ Bounces
Worst day for stocks and bonds in 6 weeks… Worst day for S&P in 5 months… Did bonds just spoil the stock market’s fun? Video length: 00:04:22 Ugly overnight in Chinese stocks… After Friday’s manic melt-up in US equities, Monday was a disappointment with China weakness sending futs lower overnight, the standard cash-opening ramp failed […]
The Big Four Economic Indicators: Real Personal Income In December
Note: This commentary has been updated to include this morning’s release of the December data for Real Personal Income Less Transfer Receipts. Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. This committee statement is about as close as they […]
