Archive for June, 2007

The latest in a long line of Milky Way tricks can only be called the “our shit doesn’t stink” gambit. This facade pretends and claims that there is not a universal problem with Ponzi finance, but instead it’s mostly about a “few bad eggs”, or “second rate” management. James Cramer writing...
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The Fed took just a little off the table Friday, pulling a half billion in cash from the market with $3.25 billion in weekend repos against $3.25 billion in expirations. The 5 day net rose to a net add of $10.25 billion reversing a couple of weeks of tightness. The SOMA line remains well...
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Nardsaq still painting that unusual broadening pattern. Now almost two months in duration. Higher highs, higher lows, but wider and wider swings. As mentioned, the general area surrounding 2632 is hugely important from the l/t chart standpoint. As you can see from this 99/00 chart, it took the Saq seven months to negotiate 2632. When...
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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...
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I lead off linking readers to a comprehensive piece from Bloomberg on the failure of the rating agencies to take appropriate action. It is also a great synopsis of what’s going on in the whole asset backed securities phony facade. Would highly recommend reading this one in full. This next item is a reprint...
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The market took a breather on an FOMC announcement day. When was the last time that happened? The old saying says to never short a dull market, but it’s a bit surprising that the market couldn’t do more with a $5 billion Fed add to the liquidity pool via open market operations—again, a rarity...
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Spoilsport…….. “Warren Buffett, the third-richest man in the world, has criticised the US tax system for allowing him to pay a lower rate than his secretary and his cleaner.” “Speaking at a $4,600-a-seat fundraiser in New York for Senator Hillary Clinton, Mr Buffett, who is worth an estimated $52 billion (£26 billion), said: “The 400 of...
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Taking partial profits on my Crisco play this week. Bought on the tag of the 50dayMA (26.75) looking for a fast move higher. CSCO now up 6% since Monday. I like the chart long-term, but the s/t setup could be funky. Key level below is 27.40. Below there again and Crisco will need some...
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Taking partial profits on my Crisco play this week. Bought on the tag of the 50dayMA (26.75) looking for a fast move higher. CSCO now up 6% since Monday. I like the chart long-term, but the s/t setup could be funky. Key level below is 27.40. Below there again and Crisco will need some...
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Total assets in the SOMA have now turned back up from the bottom of the long term 5% growth channel. That’s where the Fed normally begins pumping and they aren’t disappointing us. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days....
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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. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time you...
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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...
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China in my view has finally made a decisive move to sterilize the massive USD trade inflows. If I understand this story correctly, last night they announced plans to sell $200 billion in Yuan bonds to soak up liquidity from the domestic system. Picture this as similar to a reverse coupon pass or open...
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The market came down to and through key support lines in the opening minutes on Wednesday. But after a brief stop running exercise, the recovery began and the market closed well above the failsafe line of 1485. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk...
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Total assets in the SOMA have now edged back above the bottom of the long term 5% growth channel. This is where the Fed normally begins pumping. So far, the response has been restrained, which is not unusual during the week of a Fed meeting. Click here to download complete report in pdf...
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The patterns on the Spooz and Nardsaq are somewhat different. The Spooz has now broken recent lows and really doesn’t have support until 1448-1453 and, if that fails, not until around 1418-1420. The Nardsaq is still mired in that megaphoney pattern and hasn’t broken key s/t support. That’s likely why we’re seeing the techs/biodrecks...
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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...
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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...
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Bill Gross, the largest domestic bond manager doesn’t sound too impressed with the credit agencies. No, not exactly a vote of confidence when he commented in his latest. So it’s not just those of us on the bearish “fringes” who are sounding out on this one now. And some how I suspect in...
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The market made another in a series of lower highs after another failed rally attempt that was stopped cold at key resistance. The Fed now has a two day meeting, and if past history is any guide, now we wait as the market marks time waiting for the Fed’s announcement at 2:15 PM Thursday....
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The Fed added another $3.25 billion in cash to the market on Tuesday with $10.5 billion in overnight repos against $7.25 billion in expirations, bringing the 5 day net to a net add of $3.75 billion. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk...
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Part 2 of chat with Lee Wheeler recorded 6/25/07. Lee talks about stock prices, sentiment, real estate and liquidity. Click here to listen. Lee Wheeler expounds on his technical trading methods, and why he thinks this may be the most important juncture in the market in 5 years. Click here to listen. Recorded 6/25/07.
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Here’s one for Da Bearz: Robert Prechter said to “cover all shorts” yesterday. “The latest decline appears to be wave C of a triangle (or possibly a ‘flat’.) Now is a good time to cover shorts and return to a cash position until the next opportunity. Ideally we will let the triangle end and try...
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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...
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Japan reported some warm service inflation last night. Once again the numbers seem strangely counter-intuitive, but all the same suggests that they may be serious enough that only a half Orwellian approach can be used now. June 26 (Bloomberg) – Japanese corporate service prices rose at the fastest pace in more than nine years in...
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The bulls tried and failed to get anything going on Monday, leaving the bears in control at the end of the day as the market averages fell back to a test of the early June lows. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk...
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Pretty cute little megaphone pattern on the Nardsaq (and NDX too). These are volatile patterns since each successive trip b/w the two trendlines are progressively larger, until the pattern breaks out or breaks down. This pattern is somewhat similar to the topping patterns in 2006 and earlier in 2007. The difference this time is that...
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The Fed added $3.25 billion in cash to the market on Monday with $7.25 billion in overnight repos against $4 billion in expirations, bringing the 5 day net to a net drain of $1 billion. Treasury paydowns end this week with $11 billion in paydowns in short term bills offset by that amount of...
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The two Blackstone principals, Schwarzman and Peterson, are like a “good cop, bad cop” tandem. Peterson was the former Commerce Secy, well-respected and a sort of eminence grise in the financial community. He wrote a well-received book a few years ago pointing out that the U.S. was heading down the wrong road with ballooning deficits...
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The following is taken verbatim from the National Association of Realtors press release today. I have read between the lines and translated the press release for the benefit of anyone who might be tempted to take the Realtors words at face value. May Existing- Home Sales Show Market is Under Performing WASHINGTON, June 25, 2007...
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