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March 5, 2009

Global Market Comments for March 5, 2009 Featured Trades: (GE), ($XEU), (GOOG) 1) Q4 European GDP came in at -1.5%. Consumer spending registered the sharpest fall on record, while exports fell off a cliff, the victim of a relentless shrinking of globalization. The euro ($XEU), down to $1.2450, is flirting with a new four year […]

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March 4, 2009

Global Market Comments for March 4, 2009 Featured Trades: (SILVER), (GOLD) 1) The February ADP employment report showed a loss of 697,000 jobs. Since we are probably in a minus 6% GDP quarter, expect these numbers to remain grisly for months to come. Watch for the Labor Department's nonfarm payroll on Friday, which will be […]

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March 3, 2009

Global Market Comments for March 3, 2009 Featured Trades: (WFC), (JPM), (C), (BAC), (GOLD) 1) We're going to 6,000 in the Dow, then maybe 4,000. So argues Louise Yamada, one of the most respected long term technical analysts on Wall Street. The targets for the S&P 500 are 600 and 400. Let me reprint a […]

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March 2, 2009

Global Market Comments March 2, 2009 Featured Trades: (BAC), (GOLD), (POLAND), (CEE), (MSFT), (INTC), (ORCL), (CSCO), (BRK/A), (COP), (JNJ), (GS), (GE) 1) The US is turning into Europe. Think high taxes, high unemployment, more government involvement in everything, and much lower growth. That is the message the markets are telling us by retreating to the […]

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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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