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Finance 0
Further Losses But No Breakaway
The Asian session had set up for big losses, but markets were able to defend against such losses even if finishing with a lower close. The S&P tagged the January low, but it’s hard to see it holding out if there’s another challenge on 1,810. The Nasdaq was able to register a higher close (although below the prior day’s close). It probably did enough to negate what is normally a bearish black candlestick, but bulls won’t have any confidence until the bearish channel is broken. The Russell 2000 was the index feeling the most heat. The gap down didn’t manage to do more than leave a small bullish hammer. The MACD... -
Finance 0
No Longer Overseas
I use the June 2018 eurodollar futures contract as a significant benchmark in my analysis of money markets because I feel it represents a solid cross section of sometimes conflicting influences. It’s close enough to the front end as to be significant both in terms of monetary policy as a factor but far enough to be as heavily if not more representative of intermediate economic expectations. And on that account, there is still enough volume and open interest where the depth of liquidity cannot be questioned. As of yesterday, the CME reports open interest of 416,955 contracts each for delivery of $1mm, meaning $417 billion or so in gross co... -
Finance 0
Groupon Inc. Soars After Earnings Beat, Pandora Media Inc. Plunges
Groupon (GRPN) and Pandora Media Inc. (P) released their latest quarterly earnings reports after closing bell tonight. Groupon posted adjusted earnings of 4 cents per share, compared to the expectation of breakeven, on revenue of $917.2 million, against the consensus of $854.9 million. Pandora reported adjusted earnings of 4 cents per share, against the consensus of 7 cents per share, and $336.2 million in revenue, compared to the consensus of $331.8 million. Groupon posts strong results Groupon’s reported losses were 8 cents per share, compared to last year’s profit of 1 cent per share. Gross billings were $1.7 billion for the fourth qua... -
Finance 0
Rethinking Economics: Let’s Get This Schism Started
Doctors of Doctrine In the wake of the great crash of 2008 a lot of young people suddenly became interested in finance and signed up for university courses to learn about the detail of what went wrong. Instead, what they got was a load of nonsense dressed up as learning that bore little relation to the real world. Well, what did they expect, they chose to study economics? Our of this was born the Rethinking Economics movement, an attempt to introduce new ideas and concepts into economic education, to adopt a pluralist approach. The problem with this, well meaning though it is, is that reforming economics is akin to Martin Luther nailing his... -
Finance 0
Central Banks Are Trojan Horses, Looting Their Host Nations
A Nobel prize winning economist, former chief economist and senior vice president of the World Bank, and chairman of the President’s council of economic advisers (Joseph Stiglitz) says that the International Monetary Fund and World Bank loan money to third world countries as a way to force them to open up their markets and resources for looting by the West. Do central banks do something similar? Economics professor Richard Werner – who created the concept of quantitative easing – has documented that central banks intentionally impoverish their host countries to justify economic and legal changes which allow looting by foreign interes... -
Finance 0
Dow Theory Bear Market
The Dow Jones Industrial Average (DJI) closed at 15,660 today (six points below the last secondary low). DJIA is now confirming the long term down trend with the Dow Jones Transportation Average (DJT). With both indexes below their previous secondary lows we’re officially in a Dow Theory bear market. The expectation is that both indexes will continue to make lower lows for the next one to three years. There will be strong rallies during the process, but when the primary trend is down, rallies generally fail. In order to change the primary trend back to bullish, DJIA will need to surpass about 17,920 with DJTA confirming the trend by surpass... -
Finance 0
New Answers On AAPL, SBUX, CMG, Gold, Silver, More…
There’s no shortage of good material from you folks. The comment boards are lighting up, and no surprise given the explosive reports I’ve filed for you in the past week on the European banking crisis, the Deutsche Bank bomb, and an official Super Crash warning. In particular, I’m getting a lot of questions right now about big-name equities like Apple, Chipotle, Starbucks, Alcoa, and more – as well as the all-important precious metals and currencies. I hope these answers help you make good decisions as you get your portfolio ready for the Super Crash. Here’s what you need to know. Q: How do you see the value of [Apple Inc.] AAPL in... -
Finance 0
SP 500 And NDX Futures Daily Charts – Sixteen Tons
Stocks swooned again in the morning, and caught algo-driven dead cat bounce, lacking somewhat in conviction of volumes, in the afternoon. Stocks globally are in a bear trend, and I do not think we have seen the bottom of this yet, although we are probably closer to that than we are to the beginnings of this back in December when Santa Claus failed to show up, or at least his proxy Bad Santa did in his stead. After the bell the news was lousy on corporate performance, excepting for a few bells and whistles. I was a little surprised to learn that even though she lost the New Hampshire Primary in a landslide, Hillary will be getting the same num... -
Finance 0
2016 Market Preview – Part I
It’s been a wild month, and a busy one. It’s convention season in Vancouver and elsewhere. I’m finishing this issue at conference number four for me in the past 10 days. That will be it for a month though so things should get back on track. This is a long double issue. I’d recommend a pot of coffee. I’ve laid out my thoughts on what I think several markets and commodities will do this year. That gives me a chance to be wrong on multiple levels. It’s very much a mixed message. I’m probably most comfortable about gold in the near term since I’m not comfortable about the upside of just about anything else until we... -
Finance 0
E What Does The Current Stock Market Plunge Tell Lenders?
What Does the Current Stock Market Plunge Tell Lenders? The global stock markets have been on a vicious decline since the turn of the year. This comes following several indicators which suggested that the rally in the financial markets between the late 2014 and 2015, and especially in the US, was premature and probably driven by unfounded investor optimism. By illustration, the developed economies and the emerging markets have been struggling for the better part of the last two years. China for instance, which is one of the world’s leading consumers of industrial commodities has experienced some of the worst periods in terms of economic gro...
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