Archive for November, 2006

The market danced and shook, but ended the day little changed. The parameters of a narrow range are beginning to take shape. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. Unbundled subscription service packages starting from as low as $39! Click here...
Read more »

The box Bernanke is in keeps getting tighter and tighter. First-time jobless claims Soar State unemployment benefits rose by 34,000 to 357,000 The number of U.S. workers applying for jobless benefits climbed by the highest amount in more than a year last week, to 357,000, the Labor Department said Thursday. First-time claims for state unemployment benefits rose...
Read more »

In keeping with the holiday spirit and faced with huge Treasury settlements over the next few days the Fed stepped up and added a net of $5.5 billion to the liquidity pool on Thursday. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days....
Read more »

Today’s gold stock screens and data, along with cycle conditions and projections for gold and HUI index, and Chart of the Day picks for swing trades. Indispensable daily information for gold and precious metals stocks traders. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for...
Read more »

I’m back from Turkey, and wide awake at PST midnight, after a full day’s sleep. Great trip and experience, although the highways there (which we drove for two weeks) or about 2400 miles, are as dangerous as can be, with lots of confusion and poor road engineering. For those who go there, take this advisory...
Read more »

You can’t keep a good man down. The same goes for the market, although I’m not sure that “good” is the right word to describe this market. It depends on how you are positioned, doesn’t it? From what I have seen on our message boards as well as from my own experience, taking and...
Read more »

MarketWatch is reporting Fed’s big worry gets revised away. A huge spike in wages and salaries in the second quarter proved to be an illusion, according to the latest data from the Bureau of Labor Statistics and the Bureau of Economic Affairs.The revisions released Wednesday show that growth in unit labor costs (and therefore in...
Read more »

The Fed twiddled its thumbs again on Wednesday with a nominal net drain of $500 million. They added $7 billion in two day repos, against $7.5 billion in expiring repos. That allowed the 5 day net to drop to a paltry add of $1.5 billion, which is nothing considering the tidal wave of new...
Read more »

Lee Adler talks to Mish and Steve Northwood about the latest data on the housing market. Listen here now.
Read more »

Pharmas have an interesting setup here. Everyone “knows” that the Dems are supposedly bad for the pharmas. So they sold off 6% since the erection. But they were due to sell off anyway, since PPH (pharma hldrs) tagged long term resistance at 79.16 right before the erection. PPH  J-Lo’ed for the past couple of years...
Read more »

Lee Adler talks with Mike Shedlock, Steve Northwood, and Lee Wheeler about the significance of Monday’s mini meltdown. Listen here now.
Read more »

Today’s gold stock screens and data, along with cycle conditions and projections for gold and HUI index, and Chart of the Day picks for swing trades. Indispensable daily information for gold and precious metals stocks traders. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for...
Read more »

The market rebounded from key support levels on Tuesday, leaving us in limbo as to whether the trend has peaked or not. Longer term indicators as well as some centered moving average projections suggest that there will be more upside in the weeks ahead, but it’s likely that fewer stocks will be driving the...
Read more »

The Fed again stood its ground on Tuesday doing a minimal net add of $250 million. They added $7.5 billion in overnight repos, against $7.25 billion in expiring repos. This is unlike last year when the Fed pumped hard right up to the end of the year, but it’s similar to 2004 when they...
Read more »

Many of you have been asking for an update on the Florida housing scene from Mike Morgan at Morgan Florida. Although we chat several times a week, it has been hard to come up with a new angle given the steady deterioration in things. Hopefully the following post accomplishes the mission. It is...
Read more »

Over the weekend I received some taunts about how “great” Black Friday was. Bloomberg reported U.S. Shoppers Spend 19% More on Thanksgiving Weekend. Nov. 26 (Bloomberg) — U.S. shoppers spent 18.9 percent more over the Thanksgiving weekend than last year, kicking off holiday gift buying with purchases of discounted wide-screen televisions and clothes, the National Retail...
Read more »

Today’s gold stock screens and data, along with cycle conditions and projections for gold and HUI index, and Chart of the Day picks for swing trades. Indispensable daily information for gold and precious metals stocks traders. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for...
Read more »

Bubble economics favoring early receivers (Bullies) at the exclusion of late or non receivers (Brazil Americans) leads to problems running basic functions and services. These maladjustments are now creating great inefficiencies in the American economy. The list of examples is long and growing, but this story from the Seattle P-I illustrates it, and one...
Read more »

The market averages got crushed on Tuesday. Stock screen data backed that up with the worst one day performance in the 15 months during which we have been following these records. Every one of the nine measures virtually collapsed, with the overall net differential between buy side and sell side indications dropping to -1,189,...
Read more »

The Fed more or less stood pat on Monday, adding $7.25 billion in overnight repos and announcing a $770 million permanent coupon purchase, against $7.5 billion in expiring repos. The result was a nominal $0.5 billion add. This is unlike last year when the Fed pumped hard right up to the end of the...
Read more »

by Steve Northwood The Treasury is coming to market for an additional $5 billion in the 4 week auction ($26 billion vs $21 billion maturing). That flys against what was expected. They had been expected to pay down some on the 4 week and cover their needs with a shorter term Cash Management Bill (CMB)....
Read more »

The charts show the status of 18 large cap bellwether stocks. The charts include 13-week cycle centered moving average projections (or 6-7 week if the 13 week cycle projection is not available). These projections are meant to be guides only. They are moving targets, and can change from day to day. Their purpose is to...
Read more »

Today’s gold stock screens and data, along with cycle conditions and projections for gold and HUI index, and Chart of the Day picks for swing trades. Indispensable daily information for gold and precious metals stocks traders. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for...
Read more »

The Spooz seems to be playing with that uptrend channel that was in force from December 2005 to May 2006. It’s currently slightly above the channel. This has happened a few times since mid-2005: June05, Aug05, Jan06 and now Nov06. Each time it has returned to the bottom of the channe,l which is now...
Read more »

Latest cycle conditions and projections for the US Dollar Index and 10 Year Treasury Yield. Click links to download report in pdf format. (WSE Pro subscribers only). Try the Professional Edition risk free for thirty days. Unbundled subscription service packages starting from as low as $39! Click here for more information.
Read more »

The following post is an email from Michael J. Dorff, a mortgage broker with Trans World Financial about the state of affairs in Orange County California. Monday evening I will have an update from Mike Morgan to share. Mish, Here is a synopsis of the mortgage side of things here in Orange County and for that...
Read more »

Black Friday’s rental sales showing another dud for Wal Mart, is also confirmed by the latest watch on Brazil American (see Primer on Winterisms in side bar for my terms). Demand deposits, which I consider a good indicator of Brazil America’s financial strength continues to dwindle, falling below $300 billion on hand. America’s increasingly bifurcated...
Read more »

The market took a minor tumble on Friday, triggering sell signals on some indicators. But we’ve seen this before in this rally, and the signals turned out to be wrong. When are they going to matter? It may be a while before we know. Until the trend is clearly broken, we have to continue...
Read more »

“Everybody, sooner or later, sits down to a banquet of consequences.” - Robert Lewis Stevenson The consequences of extremely lax lending standards are now showing up in the loan performance data. The 2006 mortgage vintage seems to be especially dire. In a conference call titled “How Bad Is Subprime Collateral?” Tom Zimmerman, head of asset-backed...
Read more »

by Mark Pierce III Looks like its official. The U.S. Bonar crumpled in a heap last night as all the 400:1 leveraged Forex Gamers hugging onto the “words” and promises of all the Fed Govenor Bullhorning about “we support the strong dollar” got shanked. Effective immediately, all asset classes of every race, stripe, color, gender, and...
Read more »