Global Market Commentary, Analysis and Investments
Stocks went up yesterday. They’ve gone up so far, for so long we almost wish we had bought some.
But wait… Look at the stock market in terms of gold. Stocks have lost more than 75% of their value over the last 10 years – and they’re still going down.
Yesterday, gold went up again. So did oil. The sell-off we’ve been expecting is still in the future. But a sell-off is coming. Because this economy is still in a Great Correction; much remains to be corrected.
[Read more...]She likes the free, fresh wind in her hair
Life without care
She’s broke, and it’s “oke”
Hates California, it’s cold and it’s damp
That’s why the lady is a tramp
Well, it’s not cold and it’s not damp. Instead, LA is warm and sunny, with springtime flowers popping out all over.
[Read more...]In a recent Daily Reckoning column, Buy a House…Then Buy Another I told you about John Paulson, the billionaire hedge fund manager who switched from betting against housing to now telling people they should buy a house…or even two houses.
[Read more...]Front and center this morning, Australia printed a moon-shot second quarter GDP report, that has the risk aversion campers running for cover this morning. All currencies, except the risk aversion currencies of dollar, yen (JPY) and francs (CHF), are getting sold, and the Aussie dollar (AUD) has gained 1 1/2-cents!
[Read more...]Well… Here we are this morning, the currencies have basically remained stalled, with only the higher yielders making any headway, albeit small headway.
The non-dollar currencies saw a bit of selling yesterday morning, after I signed off, but have rebounded a bit in the overnight markets. Theres a feeling among us here on the trading desk that were about to break out here… Its either going to be a break out to the high side or the low side… But I doubt that were going to remain in these tight ranges for too much longer. But, thats just my opinion, of course. I could be wrong!
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Why Greece Should Default and Go Broke With Dignity
First, the market news.
Yesterday, stocks went up. Gold went up. And bonds went down.
It was a ‘risk on’ day…but not so much of one that you could draw any conclusion from it.
Investors still had the Greek debt crisis on their minds. But they seemed to have gotten tired of worrying about it. All the financial sweepers in Europe are working around the clock, trying to get the mess under the carpet or out the door. By the looks of the markets, they were succeeding.
[Read more...]