Archive | January, 2009

January 30, 2009

Global Market Comments for January 30, 2009 Featured Trades: (AMZN), (GOLD), (AEM) 1) Q4 GDP came in at -3.8%, the worst in 26 years. The only buyer right now is the Federal government. What private spending there is can be found online. Amazon (AMZN) announced December sales up 18% YOY, sparking a 14% jump in […]

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January 29, 2009

Global Market Comments for January 29, 2009 Featured Trades: (GOLD), (AEM), (TBT), (HYG), (PHB), (NS) 1) December new home sales fell to a stunning 331,000, 100,000 less than the most dire forecasts.  Average monthly home sales for 2008 were the worst since 1982. Homebuilders are getting absolutely killed by competition from foreclosures. Every real estate […]

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January 28, 2009

Global Market Comments for January 28, 2009 Featured Trades: (TM), (GM), (GDX), ($GOLD), (ABX), (NEM) 1) The Fed leaves interest rates unchanged, at close to zero. Like they were really going to make them negative? All they can do now is to accelerate quantitative easing measures by buying boatloads of home mortgage, credit card, car […]

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January 27, 2009

Global Market Comments for January 27, 2009 Featured Trades: (CAT), (CCTYQ) 1) The performance of heavy equipment maker Caterpillar (CAT) is one of the best leading global economic indicators out there. Poor earnings have taken the stock behind the woodshed for a severe whipping, taking down from $85 to $32. So when CEO Jim Owens […]

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January 26, 2009

Global Market Comments for January 26, 2009 Featured Trades: (GOOG), (AOL), (MSFT), (YHOO), (T), (VZ), (W), (DBA), (FNM) 1) It was the weekend of the big layoff, with 70,000 getting pink slips globally. Key infrastructure and emerging market player Caterpillar chopped 20,000, followed by Intel, Pfizer, Home Depot, Microsoft, and yes, even Apple. You can […]

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January 23, 2009

Global Market Comments for January 23, 2009 Special Gold Issue Featured Trades: ($GOLD) 1) Last year, South Africa suffered its steepest decline in gold production since 1901, falling 14%, to a mere 232 tons. It now ranks only third in global production of the yellow metal, after China and the US. Severe electricity rationing, a […]

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January 22, 2009

Global Market Comments for January 22, 2009 Featured Trades: (MSFT) 1) Today was the day of the Microsoft shock, with disappointing earnings and a layoff of 5,000. Too bad their principal product, Vista, never worked. There was a slew of economic data today, all bad. Weekly jobless claims exploded upward by 62,000 to 589,000, taking […]

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January 21, 2009

Global Market Comments for January 21, 2009 Featured Trades: ($BKX), (BAC), (WFC), (JPM), (PWR), (C) 1) The final numbers are in. The S&P 500 fell 42%, from 1,400 to 810, during the eight years of the Bush administration. The dollar fell 41% against the euro, from $0.92 to $1.30. A European investing in US stocks […]

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January 20, 2009

Global Market Comments for January 20, 2009 Inauguration Day Featured Trades: (C), 1) We are now officially on Obama's watch. Like a young child crying out for attention, the stock market delivered its worst ever inauguration day performance, with the Dow down 332. Here's what he is facing: 1 collapsed financial system 2 wars 11 […]

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January 16, 2009

Global Market Comments for January 16, 2009 Featured Trades: ($GOLD), (GM) 1) Captain 'Sully' Sullenberger of US Air's flight 1549 did an unbelievable job landing his Airbus 320 on the Hudson River yesterday. As a pilot who had flown across the Atlantic and across the English Channel hundreds of times, I have spent a lot […]

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January 15, 2009

Global Market Comments for January 15, 2009 Featured Trades: (BAC), (XEU) 1) By the time Bank of America (BAC) waded through the incredible opaque balance sheet of newly acquired Merrill Lynch, they had turned green around the gills. The toxic assets they stumbled on to put the Love Canal to shame. Only more TARP money […]

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January 14, 2009

Global Market Comments for January 14, 2009 Featured Trades (C), 1) The financial supermarket is an idea whose time has clearly gone, as we learn that it was just a strategy to lose more money, in more exotic places, in more exciting ways. The sale of Citibank's (C) crown jewels at fire sale prices, like […]

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January 13, 2009

Global Market Comments for January 13, 2009 Featured Trades: (PTEN) 1) The 'all clear' signal given by the markets last week has been cancelled. All of the 'feel good' trades, like stronger crude, gold, commodities, and Dow, have all viciously reversed in lockstep. The 'feel bad' trades like a stronger yen, euro yen, and Treasuries […]

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January 12, 2009

Global Market Comments for January 12, 2009 Featured Trades: (FLS) 1) If you had any doubt where the next equity play is going to be, take a look at the chart below, which I lifted from The Economist. It shows that by the end of this year, 80% of GDP growth will be generated by […]

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January 9, 2009

Global Market Comments for January 9, 2009 Featured Trades: (NUE), (WMT), (AMTD), (SWIM), (SCHW) 1) The December nonfarm payroll came in at 524,000, taking the unemployment rate up to a 26 year high of 7.2%. At least the Labor Dept. didn't post a job loss of a million, as the Cassandras had predicted. More than […]

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