A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
Read More »
Monthly Archives: November 2008
Structural Changes in Banking
The H3 data from the Fed gives some startling evidence as to the degree of financial deleveraging that occurred during the Panic. Without doubt banks and lenders must have sold a boatload of securities at what were probably distressed prices during this period. To the Fed? To vultures? And for what purpose? to prepare...
Read More »
Happy Shopping – Professional Edition
The market appears to be nearing what should be a short term pullback. 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 you a full refund. It’s that simple....
Read More »
Structural Changes in the Markets
As one might expect there have been some structural changes in the underpinning of the markets. The indications are that an historic number of participants have paniced, have economic collapse or severe depression expectations, and are sitting in cash.
First most of the analysts have capitulated. This ties in with the possibility that the 4th...
Read More »
Happy Thanksgiving Market – Professional Edition
The bulls get the turkey now, and its beginning to look like they will get it for Christmas too. Seems like every day in this market we get the improbable, even the unthinkable to occur. Today it was more record upside readings in our cycle indicators. Click here to download complete report in pdf...
Read More »
No Improvement in Housing Demand – Professional Edition
In part 2 of our housing market review, demand indicators show no real sign of improvement. 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 you a full refund....
Read More »
Fed Forced to Act to Stop Housing Collapse – Professional Edition
The Mortgage Applications index dropped to its lowest point in 8 years at the end of October. As of the week ended November 21 it had barely budged off that level. The bailout of Fannie and Freddie last summer had the opposite effect of what was hoped for, as spreads on Fannie and Freddie...
Read More »
Fed Report
There were no Treasury auctions today. The Treasury announced next week’s 13 and 26 week bill auctions today, a day earlier than usual due to the holiday. Both will be for $28 billion. Both are $1 billion more than the TBAC estimate made on October 31. Both are $1 billion more than the amounts...
Read More »
Everything but the Kitchen Sink
On Tuesday I wrote a defense of the Citigroup deal which you can read here. I feel that under the circumstances this was a shrewd arrangement.
Unfortunately it now appears that they could not let well enough alone. It seems that with little fanfare the US central bank in your face announced a large scale...
Read More »
Bulls Get Turkey After All – Professional Edition
The evidence of an incipient 6 month and 10-12 month cycle turn is growing. But long term indicators do not support the idea of a major bottom. 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...
Read More »
Fed Puts US in the Breach, Again – Professional Edition
Today I got sick to my stomach when the Fed announced two more alphabet soup du jour programs. One program will involve the direct purchase of GSE and MBS paper by the Fed. that’s another $600 billion that the Fed will add to its books. This action was necessitated by the ending of the...
Read More »
A New Cottage Industry?
I am disappointed with the commentary on the Government’s Citigroup deal. It strikes me that a new cottage industry of critics has arrived, whose purpose is to howl and scream regardless of the facts and details. This run down is typical. The attention to the facts here is sloppy at best. It looks like...
Read More »
Who’s Gonna Bail US out? Professional Edition
The title doesn’t have much to do with tonight’s market update, but it’s just that I keep thinking who IS going to bail US out now that the US government has embarked down the slippery slope of taking all the bad debt in the world on to itself and on to the backs of...
Read More »
Hidden Chinks in Treasury Market- Professional Edition
When the Fed, Treasury, and FDIC issued a statement yesterday on the Citigroup bailout, I didn’t know whether to laugh, cry, or… The potential enormity of this bailout raises the question of whether the Fed will continue to be able to recirculate the world’s existing cash, or will need to monetize. We don’t have...
Read More »
Healthy Healing Part II
Following on other points in the Roubini matrix as discussed last Friday, in point 4 Roubini suggests that interest on mortgages and consumer loans are pushing higher. In fact, the resets on many adjustable rate mortgages are going lower. 40% of all mortgages are based on Treasury rates, and cost of funds indexes. The...
Read More »
Not Impressed – Professional Edition
The indicators were not impressed with Friday’s rally. All intermediate indicators continue to point lower. Only 4 week cycle indicators have turned up. 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,...
Read More »
Jim Cramer and Downey Financial
Today the Downey Financial is finally gone. Long live Jim Cramer!
Click to zoom:
Read More »
Healthy Healing, Part I
Nouriel Roubini wrote a piece about the consumer capitulating that offers a good matrix for discussion. I have some different takes on this however. There are alot of points here, so I will come back over the next several days and tackle them, hitting a few today.
For now, I will tackle one aspect of...
Read More »
Universal margin call
You can read here about major dislocations at the credit markets:
I have done this for nearly 30 years. I have never witnessed this before
I would not call it “flight to quality” or “panic” - it more looks like widespread margin liquidation, where long positions are dumped into collapsing market and shorts are covered into...
Read More »
Bears To Get Both Turkeys – Professional Edition
The technical warning signs that we saw developing earlier this week came to fruition today as the S&P 500 smashed the October 2002 low. As bad as this was, most indicators suggest that it’s going to get worse, a lot worse, before this is over. Click here to download complete report in pdf format...
Read More »
The Great Circle Jerk- Professional Edition Fed Report
The Fed released its H41 balance sheet report tonight, and there was nothing new. It’s all bad. The Fed has engaged the market in a circle jerk, sucking funds in from the banking system by paying interest on reserves only to lend those funds out to the system via the alphabet soup programs. But...
Read More »
From Bad to Worst – Professional Edition
This historic bear market looks like it’s about to go from bad, to worse, to worst. The market finally slid through key support levels today apparently heading for much lower lows. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within...
Read More »
Radio Free Wall Street 11/19/2008
Lee Adler, Russ Winter, and Aaron Krowne discuss the the latest news developments, Russ’s view that the current market is like the Panic of 1907 and that it’s time to buy the future winners, and Lee’s argument that it’s wrong to be long. It’s a heated discussion, and it’s up to you to choose...
Read More »
Radio Free Wall Street
Most Recent Economic Charts
Wall Street Examiner Exclusives
-
Rumors and Denials of Rumors
-
Winter Covers Shorts; Maladjusted US Economy Seems Good Because of European Capital Influx- Free Podcast
-
Three Critical Industries Now in Serious Capital Destruction Mode
-
The Deeper Meaning of the Facebook Flop
-
Weakening Federal Withholding Tax Collections Do Note Bode Well For Employment
Wall Street Examiner Contributors
Lee Adler
Newswires
Aaron Krowne
AG's Nightmare
Belisarius
Bruce Krasting
Charles Hugh Smith
Consumer Metrics Institute, Inc.
David Zeiler
Diane Alter
Dr. Kent Moors
Dude
Economic Perspectives from Kansas City
Frederick J. Sheehan
Frederick Sheehan
Jaime Levine
Keith Fitz-Gerald
Mark McHugh
Martin Hutchinson
NY Fed | Permanent Open Market Operations
Pretzel Logic
Russ Winter
Shah Gilani
Steve Northwood
The Implode-o-Meter Blog
Treasury Auction Results
Treasury Offering Announcements
William Patalon III
RSS Feed
Copyright © 2012 The Wall Street Examiner. All Rights Reserved.
Magazine Premium created by Themes by bavotasan.com.
Magazine Premium created by Themes by bavotasan.com.
Recent Comments