I have to tell you what’s on my mind this morning after watching the price action again yesterday… I know, it’s just me, and no one else in the writing/analyst world will tell you this, because they have no proof… I don’t either, but that never stops me from saying what’s on my mind regarding these markets now, does it?
[Read more...]Big Ben Discusses Another Round of Quantitative Easing
January 26, 2012 By Leave a Comment
Good day… And a Tub Thumpin’ Thursday to you! I wonder what I’ll talk about today…. Hmmmm… Could it be…. The Fed meeting? Oh, you are so smart! In case you missed this yesterday, because I’m sure the major media outlets couldn’t muster up enough intestinal fortitude to do it, but the Fed threw a cat among the pigeons yesterday… There are a lot of things I’m thinking about, this morning, so, this should be entertaining… For me at least!
[Read more...]Home Prices Keep Falling
January 23, 2012 By Leave a Comment
Good day… Should be an interesting week, as the ECOFIN people meet and Greece is still working on their debt and… this will be my first full week of work in over a month, so all in all, pretty interesting!
What I also found interesting on Friday was the price action of silver… I don’t know if you follow silver or not… I do — very closely, I might add! But silver was outperforming gold by a long shot, rising over $1 on the day, which you don’t normally see in the silver price action. My colleague Aaron yelled over the desk to ask me what was going on with silver, as he too watches it closely… I couldn’t really find anything out there, so the thought came to me very quickly that silver must be playing “catch-up”…
[Read more...]China to Show More Manufacturing Weakness?
January 20, 2012 By Leave a Comment
What looked like a workable situation for Greece and private creditors has taken a turn that has the euro (EUR) vulnerable again this morning. It’s not as if the situation is unworkable. It’s just that they are struggling to come to an agreement, and since it’s not as smooth as Jiffy, then the Chicken Littles come out of the crowds… But then, quite frankly, I have been surprised by the strength the euro has displayed this week. The euro has always shown resiliency, but as I’ve said a couple of times now this year… I wouldn’t be surprised to see it fall to 1.18 and then rebound to 1.40… But we have 49 more weeks to go in 2012. There’s a lot of give and take here, so buckle up, yes, that’s right: Click it or ticket…
[Read more...]Euro Reverses Slide in Short Squeeze
January 9, 2012 By Leave a Comment
The Jobs Jamboree on Friday proved to be a real boost for the economy and the dollar, which rallied on a “strong jobs number” for the first time in a month of Sundays. I highlight “strong jobs number” because, this is what this has come to… 200,000 jobs were created, so says the Bureau of Labor Statistics (BLS), in December, which is the strongest number of jobs created in another month of Sundays… The jobs reports have been so weak for so long now, that the media, and markets are all lathered up and calling this a “strong jobs number”… It’s stronger than previous ones, yes…
[Read more...]China’s Manufacturing Index Rebounds
January 3, 2012 By Leave a Comment
Good day… And a Tom Terrific Tuesday to you, and… HAPPY NEW YEAR! Here’s hoping that 2012 brings us a correction to the 1 in 5 Americans out of work, and that it is a healthy, prosperous, and peaceful year! Hey… Stranger things have happened, right? But, we have some HUGE hurdles to clear this year, folks… So, keep your fingers crossed!
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Who’s Still OK With Deficit Spending Now?
I had to laugh yesterday when the New York traders came in and didn’t sell the currencies right away… I said to myself, “Self, maybe the ‘big boys’ read the Pfennig and now know that I’ve uncovered their ‘game,’ so they have to lay low for a while!” HA! Whatever the case, the currencies held their gains most of the day, and even added on in some cases.
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