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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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January 8, 2009

Global Market Comments for January 8, 2009 Featured Trades: (TRN), (JEC), (WTIC) 1) It is still possible to buy stocks on the cheap that will benefit greatly from the massive public works projects Obama is about to unleash. Trinity Industries (TRN), a major provider of concrete and aggregates with a presence in construction and rail […]

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January 7, 2009

Global Market Comments for January 7, 2009 Featured Trades: (AA), (FSLR) 1) The market came back to Earth today, the Dow suffering the first down day of 2009. The guilty characters could populate one of those Agatha Christie mysteries where everyone did it except the butler. Take your pick: an ADP report showing 693,000 job […]

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January 6, 2009

Global Market Comments for January 6, 2009 Featured Trades: ($TYX), (X), (NUE), (WMT), (MCD) 1) The markets are signaling that the credit crisis is over, and that it is now safe to come out of your bunker. The 30 year Treasury has collapsed ten points in the last week, taking yields from 2.60% back over […]

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January 5, 2009

Annual Asset Class Review January 5, 2009 Featured Trades: (VIX), ($BVSP), (RSX), ($BSE), (FXI), ($KOSPI), (TBT), (JNK), (PHB), (HYG), (COPPER),(FCX), (CHK), ($XEU) After the annus horriblus of 2008, I thought it would be a good time to review the major asset classes and suggest reallocations. Equities: UP The collapse of the volatility index (VIX) is […]

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December 30, 2008

Global Market Comments for December 30, 2008 Featured trades: (MS), (GS), (WM), (BS), (FNM), (FRE), (AIG), ($GOLD), (WTIC) I thought I would resend you the market forecasts I sent a year ago, in case you missed them. 1) A young black guy you never hear of, whose middle name is Hussein, will be elected President […]

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December 29, 2008

Global Market Comments for December 29, 2008 Featured trades: (TM), (GM) 1) Employment consultants Challenger, Gray & Christmas see the worst jobs market since the Great Depression in 2009. We have lost 732,000 jobs since November, and another one million are to go during the first half of next year. There are now 2.2 million […]

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December 24, 2008

Global Market Comments for December 24, 2008 Featured trades: (PLD), (WTIC) 1) Consumers slashed spending 0.6% in November, despite rapidly falling prices. Unemployment claims jumped 30,000 to 586,000, a 14 year high. National savings rates are soaring from zero to 5%, as baby boomers rush to rebuild seriously depleted nest eggs going into a feared […]

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