This week was largely spent watching the recovery fall apart. Not a dramatic collapse. No market crash yet, for example. But the important indicators are giving way. On top of the bad news from housing and employment over the past few weeks, Richard Russell’s famous PTI indicator finally dipped into negative territory – signaling a [...]
Today is the Big Jobs Jamboree, and the cable news stations are spinning it quite nicely. So nicely put that stock jockeys are believing the spin and running stock futures higher. I’ve got that to talk about today, and more debt stuff… Believe me, dear reader, I wish I didn’t have to talk about this [...]
Chartoftheday.com sent me, this week, a chart of the Dow Jones Industrial Average adjusted for inflation, going back to 1925, which was before I was born, believe it or not, which means it was a long time ago. The way they have drawn support and resistance lines (a straight line to connect the market highs [...]
Oil edged up towards $80 a barrel yesterday. And the latest numbers for producer prices showed more inflation than was expected. Meanwhile, jobless claims were up. And the Dow rose 86 points… What do investors see that we don’t? A mirage…the shimmering of hot money…money that comes from the feds. And they can’t believe it’s [...]
If you’ve been thinking about reducing exposure to stocks, now might be a good time. And if you’ve been thinking about increasing your exposure to precious metals, now might be a good time. According to Morgan Stanley economist Gerard Minack, the stock market is in for a correction after its 9-month “relief rally.” In a [...]
Richard Russell has identified six reasons for why the price of gold is likely to head higher. Here’s a highlight from each of the explanations… 1. With interest rates near zero there’s basically no opportunity cost to choosing to buy gold over Treasuries. 2. The Fed is going to keep building debt, and will eventually cause [...]
Ok, let’s review those wonderful days from whence we sprang, so fraught with the advantages of having nothing. So potent with opportunity. It was the middle of the ’70s when we started our careers. Inflation was high and rising. The Soviets were seen as a major threat. Japan was beating our brains out and buying [...]
Since it peaked in 2007, the UK stock market lost 60% of its value. As of yesterday, it had recovered half of what it had lost. All over the world, the story is about the same. Markets have recovered half or more of what they gave up. The US is a laggard. While the S&P [...]
