Global Market Commentary, Analysis and Investments
Well, well… it’s a “risk-off” day in the markets. Let’s look at some quick numbers:
Up…up…and away!
Stocks…commodities…the US dollar…there’s more unbridled enthusiasm being lavished upon these three investment vehicles than would be on an impromptu Victoria Secret fashion show in San Quentin.
Anything demanding that much attention must surely be worth a closer look. So grab your bifocals, Fellow Reckoners, and let’s investigate…
[Read more...]“I want it all, I want it all, I want it all, and I want it now.”
— Lyrics from a popular Queen song…and the prevailing political “wisdom” of our time.
Stocks up. Gold up. And oil back within a few cents of the $100 mark.
The world economy is, apparently, in full swing again. Until tomorrow, that is. Or next week. Who knows?
[Read more...]We have the grim task of attending a funeral near Pittsburgh, today. Our reckoning will be short and sweet.
The markets were enlivened yesterday by thoughts of the holidays. ‘Santa’s coming,’ said investors as the Dow rose 291 points.
The bright lights and garlands have started coming out all over Christendom.
[Read more...]The Dow dropped 297 points yesterday. October may have been the best month for stocks in 37 years. But November could be the worst.
Gold fell a little yesterday, too, down $13. Oil is still over $90.
The newspapers tell us that investors are disappointed over the European deal. They thought they had that problem wrapped up with a bow. Apparently not…
[Read more...]What little good QE2 accomplished has now vaporized.
Shortly after the open this morning, the S&P 500 dipped to 1,087 — 20% lower than the April 29 high of 1,363, thus meeting the formal definition of a “bear market.” That much you’ve likely already heard if you were unfortunate enough to turn on your radio or TV.
[Read more...]Well… Another day has been put to bed without a Greek default… Apparently there was a conference call this morning between the leaders of Greece, Germany and France… I wonder if French President, Sarkozy, was a little cynical with the Greek leader… I mean French giant bank Soc. Gen. had its debt rating downgraded by Moody’s overnight… Sarkozy could be putting the blame on the Greeks… Could be, I didn’t say he was! But isn’t that the nature of everyone today? It’s always somebody else’s fault…
[Read more...]Ursa Major in the sky
Time to sell stocks is nigh
Last night was bright and clear in France. We could see the Milky Way stretched out against the dark background.
And there was the bear…Ursa Major.
Last week, stocks got hammered…mauled…beaten up…
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“Net Sober”
Derivatives are the “meat and meat by-products” of the financial markets. They look, smell and taste just like regular securities, but almost no one understands why we need them in the first place. After all, what’s wrong with actual meat? Or to re-phrase the question: Is Spam really an advancement over ham?
[Read more...]