Three two three two three. Has a nice ring.
But is it enough to take away the sting,
Of yesterday’s late selloff?
As we watch this morning’s round mound of rebound.
Where is Sir Charles now?
If they can keep a lid on it here,…
Today is the day where Jerry and the Rate Makers aka the FOMC gang, threads the needle, and lets us know not only the new rules of the new game, but its name. One thing is for sure, the name will start with “Not.” Because if there’s one thing that the …
The ES, 24 hour S&P futures have broken out again here in the pre market. They’re about 7 points above the peak set two days ago. OK, breakout is too strong a word, but the higher high confirms the uptrend and the validity of the conventional measu…
The ES 24 hour S&P futures sold off overnight, but US traders woke up this morning and bought the effin dip as usual. It remains to be seen if they’ll be sustained or punished when regular trading opens. The key area to watch for a rally signal wou…
Was yesterday destined to be a failed breakout? Only the Shadow knows. Stay tuned to the latest episode of Return to the Scene of the Crime on your local Capital Stoolcasting Company radio station. The rest of us will know soon.
My guess would be…
The ES 24 hour S&P futures looks ready to roll over as I write at 4:45 AM New York time. But being ready, and doing it are not one and the same. First, we need confirmation in the form of an hourly close below sport at 3889, accompanied by a downt…
The bloated body of Credit Suisse floated back to the surface this morning, throwing Europe into chaos. CS, by the way is a Primary Dealer, so this is a Fed problem too. I have pointed out through the years that only a minority, now 9 of the now 25 Fed…
If the bond rally were to continue, the problem of bank runs would be self mitigating. That’s because many of the assets that would need to be sold, could be sold at a profit. But the announcement of a Fed-Treasury-F-DIc bailout changes the equation. T…
It’s Monday the 13th. Good luck with that.
The Fed and Treasury announced a bank bailout on Sunday in the hopes of forestalling bank run contagion. But while it sounds big and new, it’s really just a few tweaks to the old tried and true discount…
After reviewing the withholding tax data for February last week, I decided that the jobs report should be faded. That left a lot to conjecture because there were no economists’ estimates posted yet. Now they are. The consensus expectation is for a head…