E Oil Supplies Tightening, No Signs Of A Glut Despite Media And Market Signals
For the past few weeks, I have been providing regular updates on the status of crude oil inventories and production in the United States. Admittedly, this report is a bit late as it covers the week ending November 7 and I do apologize for my tardiness in getting this released. The prevailing trends in oil […]
Depression-Level Collapse In Demand: In Historic First, Glencore Shuts Coal Mines For 3 Weeks
In a historic move showing just how profound the collapse in global commodity demand and trade is, earlier today the Sydney Morning Herald reported that Australia’s biggest coal exporter Glencore (GLCNF), which last year concluded its merger with miner Xstrata (XSRAF) creating the world’s fourth largest mining company and world’s biggest commodity trader, will suspend […]
AIG Is NOT On The Hook If Greenberg Wins Vs. Government
As usual with something like this so much has been reported yet so little work has actually been done on it… So the general thesis out there is: Greenberg is suing the US for its onerous bailout terms. He is greedy for doing it Inexplicably, it seems as though he is winning. People are shocked […]
Gold Daily And Silver Weekly Charts – He Dwelleth In This Land
Gold and Silver had a nice rally today, with gold stopping around the 1190 area and silver making it to the 16 handle midpoint. Look at the gold chart and you will see the only thing that really counts. Gold must break the downtrend, and take out the potential bear flag. Silver will follow, or […]
Today’s Consumer Data Foreshadows A Robust Holiday Shopping Season
During a week that’s already seen a lot of decent earnings reports from retailers, it’s not surprising that we would get additional positive reads on the consumer with today’s retail sales and consumer sentiment reports. US Retail Sales both including and excluding automobiles came in at 0.3% in October, in-line with the Estimize consensus. This is a welcomed improvement […]
Dollar Dump Sparks Safety Scramble For Bonds & Bullion
Stocks were somewhat of a sideshow to the moves in Bonds, commodities, and FX today. Trannies (Airlines) and Nasdaq (AAPL) led on the week with Small Caps the laggard and Dow/S&P not much better. A 6-7bps plunge in yields from around 10am ET today left Treasury yields only 0-2bps higher on the week. The USD dumped […]
Emerging Market Bonds: Where Do We Go From Here
Investors that were early to identify the attractive valuations following the volatility in emerging market bonds in early 2014 are still sitting atop a pile of gains, yet in recent months new investors haven’t experienced the same steady uptrend. Partly due to the slack in the credit markets domestically, bonds in emerging markets have largely […]
SP 500 And NDX Futures Daily Charts – Sitting On Top Of The World
The stock market has reached nosebleed heights. I do not know if the wiseguys can keep it going through Thanksgiving. But I hear that only 20% of fund managers are beating their benchmarks which is incredible given this bubble market we are seeing. This stock market makes my skin crawl. Have a pleasant weekend.
Market Commentary: Session Ends Mixed With Large Caps Flat And Confused Investors
Written by Gary Markets closed mixed with the SP500 making a new closing high and the DOW in the red. The NASDAQ closed higher almost matching its February, 2000 closing high of 4696.69. By 4 pm the averages had stopped the trending down and made a last minute push to close higher than it would have […]
The U.S. Department Of Justice Handles Banker Criminals Like Juvenile Offenders…Literally
These agreements were created 100 years ago to give juvenile defendants and first-time offenders a chance to for rehabilitate themselves. Only in the last 20 years have DPAs migrated to the field of corporate criminals, treating them like kids who’ve just gone down a bad path in life. The Justice Department is leaning on these […]
