Archive | February, 2009

February 27, 2009

Global Market Comments for February 27, 2009 Featured Trades: (SILVER), 1) Welcome to the worst case scenario, with Q4 GDP revised down from -3.8% to -6.2%. Q4 will be just as bad, if not worse, then we will find a bottom. Technical analysts were ringing their hands as the Dow hit a new 12 year […]

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February 26, 2009

Global Market Comments for February 26, 2009 Featured Trades: (GM), (YEN),(YCS) 1) Weekly first time jobless claims soared from 631,000 to 677,000, taking total claims to 5.1 million, a new all time high. General Motors (GM) announced a Q4 loss, and a 6.2 billion cash burn, leaving them with a scant $14 billion left. The […]

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February 25, 2009

Global Market Comments for February 25, 2009 Featured Trades: (C), (BAC) 1) So nationalize the banks already! Get it over with! Call it whatever you want: partial nationalization, temporary nationalization, socialization, liverwurst, or rutabaga. Just get it over with! This tortuous slow drip of on again, off again, stop gap measures is going to cost […]

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February 24, 2009

Global Market Comments for February 24, 2009 Featured Trades: (GOLD), (GLD), (SPG) 1) The Senate Banking Committee holds hearings while Rome burns. The S&P Case-Shiller Home Price Index showed a Q4 fall of -18.2%, the sharpest decline in its 21 year history. Prices in San Francisco fell by 31.2%. We got within 100 points of […]

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February 23, 2010

Global Market Comments for February 23, 2009 Featured Trades: (C), (XOM), (GM), ($NIKK) 1) The Treasury moved to raise its stake in Citigroup (C) by up to 40% by converting preferred into common, yet another step down the road to creeping nationalism. With C trading as low as $1.20 on Friday, taking its market cap […]

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February 20, 2009

Global Market Comments for February 20, 2009 Featured Trades: (POT), (PBR), ($COPPER), (SCHW) 1) Gold blasts through $1,000 to a new high for the year. Need I say more? 2) Here is another thought about Obama's mortgage bailout plan. It is so small, and helps so few, it isn't really a bail out at all. […]

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February 19, 2009

Global Market Comments for February 19, 2009 Featured Trades: ($GOLD), (DGP), (GLD), (WFC), (EPD) 1) GOLD! GOLD! GOLD! This is the cry being heard worldwide by investors in the Great Gold rush of 2009, looking for a generic 'short America' trade. Where in the past gold seekers used sluices, shovels, and jackhammers to extract the […]

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February 18, 2009

Global Market Comments for February 18, 2009 Featured Trades: (NAT) 1) Obama's mortgage bailout package is out, and the market didn't care, hitting new six year lows. After wading through pages of arcane, mind scrambling detail, it appears that $75 billion will be made available to distressed homeowners to cut mortgage payments to 31% of […]

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February 17, 2009

Global Market Comments for February 17, 2009 Featured Trades: (TM), ($GOLD), ($SSEC) 1) In three short weeks we have gone from an administration that had a political interest in portraying the economy as not as bad as it really was, to one that paints the economy as worse than it really is. The markets don't […]

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February 13, 2009

Global Market Comments for February 13, 2009 Featured Trades: (ABX), FCX), (GOLD) 1) We learned yesterday that not only does the Obama administration watch the stock market carefully, it also has a technical analyst on board. We were exactly at a crucial support point on the charts when the Treasury leaked the home mortgage subsidy […]

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February 12, 2010

Global Market Comments for February 12, 2009 Featured Trades: (DEO) 1) Those who believe that the wine and spirits business is recession proof should take a look at UK based Diageo (DEO). Its shares just hit a new low for the year of $50, down 42%. Although the giant purveyor of alcoholic beverages posted profits […]

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February 11, 2009

Global Market Comments for February 11, 2009 Featured Trades: (IWM), (LSE-AJG), (BAC) 1) After the passage of an $800 billion in stimulus, and another bank bailout package, I don't see any market boosting events on the horizon. Hence the Dow's 400 point swan dive yesterday. The market is not going to wait until the end […]

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February 10, 2009

Global Market Comments for February 10, 2009 Featured Trades: (IWM), (C), (BAC), (INTC) 1) Treasury Secretary Tim Geithner announced his bailout plan and the market gave him a big raspberry. Long on platitudes and short on specifics. The Dow plummeted 381, Bank of America (BAC), dropped 18%, and Citigroup (C) pared 16%. The 'End of […]

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February 9, 2009

Global Market Comments for February 9, 2009 Featured Trades: (IWM), ($COPPER), (DRYS) 1) This week it is all about Washington. CNBC has turned into CSPAN. Democrats coming off an eight year starvation diet are loading the stimulus plan with more pork than a bacon factory, and sending Obama the bill. There is also a personal […]

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February 6, 2009

Global Market Comments for February 6, 2009 Featured Trades: (BAC), (TM), (TBT) 1) The dreaded January nonfarm payroll came in at minus 598,000, the third monthly figure over a half million, taking the unemployment rate up to 7.6%. It was the worst monthly reading since 1974. We'll probably see 9% by June. Notice how the […]

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