A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Monthly Archives: February 2007
Calm Before The Storm – WSE Pro
The market rebounded a bit on Wednesday, and some short term cycle indications suggest that at least a dead cat bounce may be under way. But intermediate indicators continue to look broken, and the stock screens are posting the most negative numbers we have seen since I began tracking this data in August of...
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Ben’s Hands Full, Will They Be Tied- WSE Pro
The Fed did two repos. That’s unusual for a Wednesday but not surprising given the combined negatives of a massive wave of Treasury settlements over the next 3 days, and yesterday’s market meltdown. The Fed added a net of $9.25 billion to the liquidity pool. It pumped in $10 billion in overnight repos and...
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WSE Pro Bellwethers Update 2/28/07
The charts show the status of 22 large cap bellwether stocks in a representative sampling of leading industry groups. The charts include 13-week cycle centered moving average projections (or 6-7 week if the 13 week cycle projection is not available). WMT, MSFT, and GE, now included in the review. These projections are meant to...
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Please Fasten Your Seatbelts
First off I can’t help but offer some advise to Riskloves: please fasten your seat belts.
My sweet wild ass guess is that at some point in the next day or two, the Pig Men will muster up all their stock buy back fire power, and rumor machines, and engage in an intense market support...
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WSE Pro Precious Metals Update 02/28/07
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...
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Shock and Awful – WSE Pro
Shock and awe. The signs of a top that I discussed in last night’s report and over the weekend in the long term update gave no hint that that the market would roll over this hard, this quickly. The market simply broke. It suddenly ceased to behave in the manner in which it has...
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Fed Does Zip to Stop Flight From Risk – WSE Pro
The Fed pulled a net of $1.5 billion out of the liquidity pool on Tuesday, even as it faces a huge wave of Treasury supply. It pumped in $8 billion in overnight repos against expirations of $9.5 billion. The Treasury raised $4 billion in new cash at Monday’s bill auctions, and today announced a...
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China Market Meltdown Couldn’t Come At Worse Time
Will the sell off be a one day event? Liquidity thinks not.
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Turkey Shoot?
Bill Fleckenstein wrote a piece that asked a question which I’m sure you have asked, and that is why was the market so slow on the uptake on the obvious subprime bust, and why is it still ignoring obvious red flags in other areas including the consumer? His conclusion was that the market is...
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That’s Different – WSE Pro
Cycle based stock screen data weakened across the board for the second day in a row. That’s different. The last few times all the measures weakened in one day, the market bottomed that day or the next. That could mean that this is an even bigger buying opportunity, or that the market is beginning...
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Jammin With Ben- WSE Pro
The Fed jammed a net of $5.88 billion including a $1.88 billion permanent purchase into the liquidity pool as it faces a wave of Treasury settlements this week. It pumped in another $9.5 billion in overnight repos along with the permanent, against expirations of $5.5 billion. The Treasury starts out with a request for...
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About That “Environmentally Sensitive” TXU Buyout
I want to share with you an exchange that took place this morning on Capitalstool.com’s message board, The Stool Pigeons Wire, about the TXU leveraged buyout. There’s a lot more truth to these observations than you will ever see in the mainstream financial infomercial media.
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WSE Pro Bellwethers Update 2/26/07
The charts show the status of 22 large cap bellwether stocks in a representative sampling of leading industry groups. The charts include 13-week cycle centered moving average projections (or 6-7 week if the 13 week cycle projection is not available). WMT, MSFT, and GE, now included in the review. These projections are meant to...
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The Asian Gambling Club Scene
I spotted an item by Jack Crooks that echoes my points on the Yen carry trade, with his conclusion being the scenario (direct intervention) I proposed in my last podcast. The other influence for a Yen rally would be very poor economic data from the US, and specifically the February jobs report released March...
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WSE Pro Dollar Index and Bond Yields Update 2/25/07
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. If, within that time you don’t find the information useful, I will give you a full refund. It’s...
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Top To End All Tops – WSE Pro
All of the talk lately on our message boards and blogs (See Lee Wheeler on the Mark) about Martin Armstrong’s 8.6 year cycle top being due Monday February 26 got me to thinking about super long term cycles. They are not something I normally give much thought to, because even if they do exist,...
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The Perpetual Gold Bull?
The precious metals certainly put in an exciting performance this week. The pick up in volatility along with price appreciation was a welcome sign anticipated in my last post. The FCS signals continue on buy status for gold, silver, and the mining stocks. The current GDX long position is now up 7.6% and the GLD long trade is up 10%
The first chart shows...
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Weekend Chalk Board: Pulling Ponies out of Manure
As the subprime market comes unraveled we are hearing more and more about collateralized debt obligations (CDOs). CDOs represent the true dark matter of Ponzi finance. In effect these take the junior tranches of mortgage backed pools, and creates a new security. In turn this daisy chain offers another layer of collateral that backs...
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Dip Buying, Hallmark of the Rally – WSE Pro
Stock screen data weakened across the board for the first time since February 12. In case you’re wondering, that marked a short term low to be followed by a 5 day rally. The last time it happened before that was January 25. The market made a short term low on the 26th and rallied...
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FCBs Stay On The Buy Side – WSE Pro
The Fed drained a net of $1.25 billion on Friday. Meanwhile this week the Treasury raised $28.7 billion in new cash in the 4, 13, and 26 week bills, and 2 and 5 year note auctions. Steve Northwood estimates that that number will triple in the next week, which should bring more pressure to...
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Exit Sign, This Way Please
SMH broke above the declining trendline from Oct. Its now up against minor resistance between 35.77 and 35.97. A move above 35.97-36.00 should result in a very fast move to 37.74 or so. That’s five percent higher. That would bring it back to the May 11 breakdown level.
My guess is that it would represent...
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Klickety Klac
When the crooks want to crank the semis, they look to KLIC-KLAC. It’s the biggest weight (by far) in the SOX. The top two weights in the SOX are KLAC (10.79%) and SNDK (8%). The SOX is price-weighted (hello, Sow Jones!). So it is subject to mucho manip.
KLAC is ramping right to major resistance...
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Firing More Silver Bullets at the Vampire
Just when I thought the the whole subprime genre was disposed of and the intellectual argument slam dunked, along comes one of the biggest disinformation campaigns the scamsters and Pig Men have run yet on the topic. And here I thought and proclaimed that I was ready to go on to more force of...
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More of The Same – WSE Pro
The market stall continued overall as tech stocks got frisky. There was virtually no change from where things stood in the broad market indicators yesterday. The upside projections remain the same. If there’s going to be a change, we’ll have to reserve judgment until we see it. In the meantime, the Chart Pick list...
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Fed Has Big Roll and Uses It – WSE Pro
The Fed rolled over all of Thursday’s $23 billion in expirations and added another ¾ billion for good measure. It pumped in $6.75 billion in overnight repos and a whopping $17 billion in 14 day repos. Meanwhile, the Treasury is settling a net of $15 billion in new paper today. That knocked the wind...
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New Podcasts With Lee Wheeler
Wednesday, February 21, Wall Street Examiner Roundtable Part 2 with Russ Winter, Lee Wheeler and Steve Northwood, featuring Lee Wheeler’s take on the market. Click here to listen.
Wednesday, February 21, Wall Street Examiner Roundtable Part 1 with Russ Winter, Lee Wheeler and Steve Northwood, featuring Russ Winter and Steve Northwood. Click here to listen.
Monday,...
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