December 6, 2011 - Quote of the Day
?Bull markets don?t die, they are killed by central bankers,? said JJ Burns of JJ Burns & Co., an investment advisor.
Entries by DougD
Trade Alert Service Posts a Blistering One Year 42% Return
Last week marked the one year anniversary of my Trade Alert Service, and subscribers could not be happier with the results. The first year return came in at 42.2%, putting us in the top one tenth of one percent of all hedge fund managers. By comparison, the S&P 500 Index came in wheezing with a
November Unemployment Plunges to 8.6%
The November nonfarm payroll came in at 120,000, better than the consensus. The unemployment rate plunged an eye popping 0.5% to 8.6%, the lowest level in 32 months and one of the sharpest contractions on record. Some 140,000 private jobs were added, bringing the 32 month total to an even 3 million, an impressive feat
December 5, 2011 - Quote of the Day
?If you measure the stock market not in dollars, but in gold, it is down 80% since 1999. I no longer regard the US dollar as a valid unit of account. People shouldn't value their wealth in dollars because one day, everyone will be billionaires,? said ultra-bear, Marc Faber, of the Gloom, Boom, and Doom
Hedge Funds: The New Dumb Money
Much of the fury in yesterday?s nearly 500 point ?melt up? in the Dow was generated by hedge funds panicking to cover shorts. Convinced of the imminent collapse of Europe, the impotence of governments, and the death spiral in sovereign bonds, many managers were running a maximum short position at the Monday opening, and for
December 2, 2011 - Quote of the Day
?Don?t get greedy. Don?t expect much. This is a single and double type of market. You?ve got to play it this way,? said Jeffrey Kleintop, a market strategist at LPL Financial.
Central Bank Bazooka Sends Markets Flying
The world?s major central banks launched a coordinated attempt to restore liquidity to the financial markets today, sending risk assets everywhere flying. The group moved to substantially lower interbank dollar swap rates, from 100 to 50 basis points. These swaps involve Federal Reserve dollar deposits with the European Central Bank and offsetting ECB Euro deposits
China?s Rate Cut is a Game Changer
For the first time in three years, China (FXI) has cut its prime lending rate by 50 basis points. The timing caught many analysts by surprise, as such move was not expected until the lunar new year in early February. Perhaps recent data showing collapsing exports prompted the Mandarins in Beijing to hurriedly move up
Watch out for the New ?RISK ON? ETN (ONN)
Mark Fisher of MBF Asset Management and Dennis Gartman of the eponymous Gartman Letter joined forces today to launch a new exchange traded note, or ETN, that promises to capture the ?RISK ON? trade. The instrument is designed as an improvement over the old Volatility Index ETF where traders attempted to capture short term market
September Case- Shiller Delivers Housing Blow
My worst fears about the deteriorating state of the US residential housing market were confirmed today with the release of the closely watched Case-Shiller Home Price Index. Nationwide, Q3 delivered a 3.9% decline in home prices, hot on the heels of a whopping 5.8% plunge in Q2. Most markets are at 8-10 year lows with