Global Market Comments July 21, 2009 Emerging Markets Special Issue Featured Trades: (HONG KONG), ($HSI), (EEM), KOREA), ($KOSPI), (PLD) 1)The upside breakout to a new 10 month high of 19,500 in Hong Kong?s Hang Seng Index last night, up 70% from its March low,? could be a signal for better emerging market performance everywhere. I have
Global Market Comments July 20, 2009 Featured Trades: (GE), (GS), (SPX), (FXI), (EEM), (TBT), (USO), (DBA) 1) China?s National Bureau of Statistics announced the data for the only country that matters right now, showing that Q2 GDP growth came in at 7.9%, much better than expected. The Middle Kingdom?s gold and foreign currency reserves soared to
Global Market Comments July 17, 2009 Featured Trades: (SPX), (GOLD), (GLD) 1) The ?head and shoulders? is off the table, and now the S&P 500 is looking at a double top at 950. This is why I hate listening to technical analysts, and why they shop at Men?s Warehouse and drive Hyundai?s instead of Bentley?s (see
Global Market Comments July 16, 2009 Featured Trades: (INTC), (ORCL), (HPQ), (IBM), (MSFT), (INDIA), (SENSEX), ($BSE), (AGU), (MON), (MOO), (POT)1)?? Intel's blowout earnings yesterday made crystal clear who is going to be buttering our bread for the next few decades (see income statement). More than 80% of their earnings came from foreign sources, far and
Global Market Comments July 15, 2009 Featured Trades: (SPX), (GOLD), (BAC), (WFC), (GS), (CVX), (XOM) 1) When I turned on my computer this morning and saw the S&P 500 futures up 40 from yesterday?s low, I knew it was time to fix the flat on my kid?s bicycle, trim the hedges, repair the torn screen window,
Global Market Comments July 14, 2009 Featured Trades: (SPX), (JAPAN), (CRUDE), (CVX) Happy Bastille Day! ?1) Yesterday, I showed you Arthur Hill?s elegant, technical, well thought out analysis of the S&P 500?s prospects. Below, please find my inelegant, non technical, graphical rending of a dead cat bounce. Any stocks dependent on the consumer feeling good about
Global Market Comments July 13, 2009 Featured Trades: (SPX), (NATURAL GAS), (IRAQ), (MO) 1) Every once in a while I stumble across a chart which is so clear, so vivid, so unequivocal in its implications, that it lifts the investment fog. This is that chart. Drawn up by stockchart.com?s Arthur Hill, it shows that we are
Global Market Comments July 10, 2009 Featured Trades: (TBT), (TLT), (SPX) 1) The incredible melt up in Treasuries yesterday tells you that traders are dumping the global reflation trade like a hot potato. The ten year yield spiked up to a high of 3.28%, down from 4% only a month ago. Yesterday?s auction of ten year
Global Market Comments July 9, 2009 Featured Trades: (SPX), (EURO/YEN), (GS)1) If anyone is wondering what that foul odor is, it's the sushi that hit the fan. Even the most obstinate,?? Kool Aid drinking perma bulls now concede the head and shoulders is in on the S&P 500. That great barometer of global risk taking,
Global Market Comments July 8, 2009 Featured Trades: (OIL), (SPX), (EEM), (DBA), (GLD), (XEU), (XJY), (VIX), (SDS), (DRR), (NATURAL GAS), (WHEAT), (CORN)? 1) I am about to do you a huge favor. You can clear all of the stock tickers and widgets off of your computer desktop. The only thing you need to watch now are