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: March 2008
Whirling Dervish- WSE Pro
A whirling dervish market is making mincemeat of traders trying to position for a breakout. The tendency for some of us is to want to take to the sidelines to wait for the market to resolve its indecision. The flip side of that, of course, is that we could miss that very big first...
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Treasury Panic Continues – WSE Pro Fed Report
The panic flight of cash into Treasuries continued at today’s bill auctions. Meanwhile the Fed continues to conduct draining operations as it works to offset any new liquidity it pumps in through its Alphabet Soup measures. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free...
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Dollar and Treasury Yields Heading Lower- WSE Pro
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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Full Metal Jacket
The signs of severe Mad Max strain continue to pour in. In states and localities the response is referenced under the Mad Max code word, “cutting costs”. This actually means that services have gotten so costly and expensive in America’s inflation excluding Road Warrior economy, that these programs need not just be curtailed,...
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New strategy for commodity speculators
I’ve published about Red Kite hedge fund twice in my blog. Essentially their strategy was always to manipulate prices of commodities upward by taking enormously large positions. The difference of commodity futures from stocks is that eventually you need to roll them over, otherwise you will get a barge of grain at your doorsteps...
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Horns of Dilemma or Have Dilemma – WSE Pro
Bulls are claiming that this is just a pullback in a bottoming process, while bears see it as a setup for another miraculous rally just when it looks like things are headed for disaster. Bears are afraid that they are heading for another miracle rally just like the last few times it appeared that...
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Altered Reality Markets
A New York Times article points out odd relationships and trading in various commodity markets. Theories as to why were mentioned, and finally what I perceive as the correct one is put forth. In effect the issue once again is overtrading, and overusing copycat quantitative momentum based computer models. As a result these markets...
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WSE Editor Adler Has Emotional Meltdown
This is so stupid. Even if every house now on the market were sold, and all those waiting to be sold were sold, this would not change the oversupply one iota. As long at that oversupply exists we will be in an endless spiral of never ending price declines. The only way to eliminate...
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Weekend At Benny’s
The Fed Report will not be published today. See Thursday’s report for full details. The Fed did a reverse repo today, draining $6 billion from the system. That’s the first time they have done a reverse repo in recent memory. In addition there were $6.5 billion in repo expirations, bringing the net drain to...
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Backstopping Fictitious Capital
The data released on Ponzi lending of only resort is rather stunning. In effect what is happening is that another market failure is being set up. By “market failure”, I mean that the prices on capital are being artificially set, and severely so. These approaches are doomed because real wealth has to...
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Reversal or Pullback That Refreshes? WSE Pro
Key downtrend channels have held and some indicators are now beginning to roll over to the sell side, suggesting the possibility that another downleg may be beginning. 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 don’t...
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A Mean, Stupid, and Futile Gesture – WSE Pro Fed Report
PDCF credit outstanding rose to $37 billion, an increase of $8 billion on the week as of Wednesday, March 26. The chart (shown in report) reflects the results of daily open market operations (OMO) and TAF, with $8.6 billion total PDCF and Discount Window borrowings added to Wednesday’s data. The PDCF addition was more...
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Gonna to be a Mad Max Revolution?
In the barely reported category comes a story I’ve been waiting for. What makes this particularly ominous is that it is not just university students behind this strike and potential civil instability but their more conservative professors. Historically food inflations and famines combined with corrupt, irresponsible government has been the spark to...
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Do or Die Time – WSE Pro
By failing to extend the rally the market has reached a precarious point. It has failed to crack major resistance lines, and without renewed thrust virtually immediately time will run out on this up phase. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for...
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New Supply Bearing Down as Treasury Finances Collapse- WSE Pro Fed Report
US Government finances are falling apart. In another mind bending shock today, the Treasury announced yet another surprise CMB auction. This one will raise $26 billion in new cash tomorrow in an action completely unforeseen by the Treasury Borrowing Advisory Committee. That makes $56 billion in new Treasury borrowing this week that the experts...
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Radio Free Wall Street 3/27/2008
The next podcast will be recorded and posted Thursday March 27. Our goal is to have it posted by 2 PM Eastern Time (US) . Please check here Thursday for an update on the posting.
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Max Mad eCONomic Sitings
While the Federal Reserve and US Treasury are hard at work emptying out government coffers to transfer the country’s remaining wealth to their banking Pig Men cronies, the blow back of their prior neglect and policies continues to build up steam. Mad Max sitings are becoming commonplace, and are creating the prospect for some...
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Settling the Argument – WSE Pro
The market’s small gains did not settle the argument between the bulls and the bears. The bulls may have the upper hand at the moment. But bears have points on which to hang their hats as well. This fits the scenario I have been talking about for several months. Click here to download complete...
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Bill Rates Head Up As Supply Balloons, Demand Levels Off- WSE Pro Fed Report
The Treasury auctioned $44 billion in T-bills and CMBs on Tuesday, raising $13 billion in new cash. The combined indirect bid was somewhat less than the indirect bid at last week’s 4 week bill auction, but still at high levels. The panic flow of cash out of other credit instruments into Treasuries has leveled...
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New Message Board Feature
We are testing running the selected video news clips from Bloomberg each day on our new message board. Check it out, and leave your comments on the board.
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WSE Pro Bellwethers Update
13 week cycle projections are not suggesting much upside on the vast majority of market leaders. Charts updated to 3/24/08. 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 don’t find the information useful, I will give...
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Mad Max: Closed in the Middle of the Night
As I predicted, China’s Mad Max Road Warrior economy is in the process of shutting down. The much heralded “platform company” theory is looking pale around the gills.
QINGDAO, China: Scores of South Korean-owned factories are closing surreptitiously in eastern China as their owners flee rising costs, leaving behind embittered workers like Li Hua....
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Showdown! WSE Pro
The market broke through a key downtrend line but stalled when it hit other important resistance levels. Price projections based on the market averages are pointing higher with a 6-7 week cycle projection of 1390 on the SPX, but cycle based stock screening measures suggest some weakening going on behind the market averages, creating...
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Treasury Deluge Stuns Market, Rates and Yields Soar- WSE Pro Fed Report
The Treasury stunned the market on Monday with the release of a gargantuan auction calendar totaling $136 billion raising $52 billion in new cash this week as US Government finances continued their headlong collapse. This was $30 billion more than the Treasury Borrowing Advisory Committee had estimated for this auction in its report issued...
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Dollar and Treasury Yields Plumb The Depths- WSE Pro
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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