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Finance 0
Crude Again
I recently did a post which stated, “The bull market in energy that started January 20th is over. I can’t be more plain about it.” I was surprised at the reaction. There was a lot of jeering and mocking, and a new troll appeared to slam me (which got upvotes from some Slopers I thought were a bit more loyal than that). And yet with a HUGE explosion higher today across the board, thanks to a killer jobs report, here’s what crude is doing: Imagine what it would be doing in a weak market. Anyway, it’s nice to know who my true friends are on my own blog. Sheesh. I’m going to keep focusing on energy shorts.... -
Finance 0
June Jobs Report
Podcast: Play in new window | Play in new window (Duration: 13:16 — 6.1MB) DOW + 250 = 18,146 SPX + 32 = 2129 NAS + 79 = 4956 10 Y – .02 = 1.37% OIL + .05 = 45.19 GOLD + 4.80 = 1365.60 *S&P just shy of intraday and closing record highs, going back to May 2015. The Jobs Report for June showed the economy added 287,000 new jobs, and the unemployment rate rose to 4.9% in June from 4.7% as more people entered the labor force in search of work. The results topped consensus estimates around 175,000. June payrolls were boosted by the return of 35,000 striking workers at Verizon (VZ). The May report was revised from 38,000 down to 11,00... -
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Spirit Realty Capital – Chart Of The Day
The Chart of the Day belongs to Spirit Realty Capital (NYSE: SRC). I found the non-residential REIT by using Barchart to sort today’s All Time High list first for the most frequent number of new highs in the last month then again for technical buy signals of 80% or more. Next I used the Flipchart feature to review the charts of consistency. Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to... -
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Dollar Rallies With Stocks And Bonds
The US dollar had a good week. It was helped by the strongest service ISM this year, with strong gains in forward-looking new orders component and an increase in export orders. Non-farm payrolls snapped back from a downwardly revised 11k jobs (-6k private sector) to 287k (265k private sector). It was the strongest employment gain in eight months. Also, as more bonds denominated in euro, yen, and Swiss francs offer negative nominal yields, an increasing part of the world’s savings appear to be drawn to the positive returns of dollar-denominated paper. The dollar advanced against most of the major currencies, except the irrepress... -
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E Great Recession Causes And Case-Shiller As Explained By Marcus Nunes
Before ending with ideas offered by market monetarist Marcus Nunes, it is helpful to explain Case-Shiller. The leading indicator of the housing crash was the Case-Shiller Home Price Index, abbreviated C-S HPI. It is a 20-city measurement of house prices. The leading indicator of the housing crash was in serious decline prior to the subprime housing crisis of August 2007. The subprime crash of August was brought into being when the commercial paper market was destroyed, commercial banks were forced to take back loans hidden in SIVs, and subprime loans went away completely. The banks could have solved at least part of this problem prior to the ... -
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Will S&P Earnings Drive The Market To New Heights?
Runnymede made one of the earliest calls on the corporate earnings recession in February of 2015. S&P earnings have been flat-out terrible for 5 of the last 6 quarters with double-digit declines. However, last quarter the S&P showed signs of turning the corner. Analysts had forecast 10% growth heading into the first quarter but companies still fell well short of that mark for essentially a flat quarter. As 2nd quarter earnings season kicks off, analysts are even more bullish with S&P reported earnings growth forecast at 15%. While we do not expect this number to be that great, if it can even show high single digit growth, it could... -
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The Decline & Fall Of The Biggest Bond Market In The World Has Only One Inevitable Ending
Government bonds are themselves becoming more illiquid, most particularly, as CLSA’s Chris Wood notes, in a country like Japan where the Bank of Japan has been buying more than the net issuance. Monthly trading of JGBs by lenders and insurers has collapsed from a peak of ¥123tn in April 2012 to a record low of ¥15tn in May 2016. This raises the pertinent issue of whether the Bank of Japan has reached the practical limit of its government buying programme in terms of its current purchase programme of ¥80tn relative to estimated annual JGB net new issuance of ¥34tn. In this respect, the Japanese central bank has from a potentially mon... -
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The Chartology Of A Generational Precious Metals Miner Move
This first chart for tonight is the GOLD:XAU ratio combo chart we’ve been following very closely. I just want to make it perfectly clear what this ratio chart is telling us. The ratio chart on top is telling us that gold is in a parabolic collapse vs the XAU after 20 years of out performance. Even though they can both go up together the XAU stocks are going up parabolic to gold as shown by the vertical move down in the ratio and the vertical move up in the XAU. When the ratio broke down from its double top all time highs at 24.33 there has only been one month, May, that the ratio had a small rally and backtested to the bottom of the S&R... -
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Galena Biopharma Announces Pricing Of Registered Direct Offering
SAN RAMON, Calif., July 08, 2016 (GLOBE NEWSWIRE) — Galena Biopharma, Inc. (NASDAQ:GALE), a biopharmaceutical company committed to the development and commercialization of targeted oncology therapeutics that address major medical needs, today announced that it has entered into securities purchase agreements with certain institutional investors providing for the issuance of 28,000,000 shares of common stock at a purchase price per share of $0.45 in a registered direct offering, and warrants to purchase up to 14,000,000 shares of common stock with an exercise price of $0.65 per share in a concurrent private placement, resulting in gross p... -
Finance 0
The Epic Collapse Of Deutsche Bank
This includes Visual Capitalist’s Chart of the Week It’s been almost 10 years in the making, but the fate of one of Europe’s most important financial institutions appears to be sealed. After a hard-hitting sequence of scandals, poor decisions, and unfortunate events, Frankfurt-based Deutsche Bank (DB) shares are now down -48% on the year to $12.60, which is a record-setting low. Even more stunning is the long-term view of the German institution’s downward spiral. With a modest $15.8 billion in market capitalization, shares of the 147-year-old company now trade for a paltry 8% of its peak price in May 2007. The Beginning of the End...
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