Global Market Comments for February 11, 2009 Featured Trades: (IWM), (LSE-AJG), (BAC)1) After the passage of an $800 billion in stimulus, and another bank bailout package, I don't see any market boosting events on the horizon. Hence the Dow's 400 point swan dive yesterday. The market is not going to wait until the end of
Global Market Comments for February 10, 2009 Featured Trades: (IWM), (C), (BAC), (INTC)1) Treasury Secretary Tim Geithner announced his bailout plan and the market gave him a big raspberry. Long on platitudes and short on specifics. The Dow plummeted 381, Bank of America (BAC), dropped 18%, and Citigroup (C) pared 16%. The 'End of the
Global Market Comments for February 9, 2009 Featured Trades: (IWM), ($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 element
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 numbers
Global Market Comments for February 5, 2009 Featured Trades: ($GOLD), ($SILVER), (BRK/A), (GS), (GE), ($SSEC), ($BDI) 1) UBS was matched by Goldman Sachs in raising its 2009 target for gold ($GOLD) up to $1,000, triggering a $30 rally to $920.While jewelry demand from India and the Middle East remains weak, this is being more than
Global Market Comments for February 4, 2009 Featured Trades: (FCX), (CAT), ($BDI), ($BVSP), (EWC), (EWZ), (EWA)1) There is a rare anomaly in the markets now, where mining stocks are trading at huge discounts to the metals they mine. Usually they trade at substantial premiums. This is the result of the credit crisis, as well as
Global Market Comments for February 3, 2009 Featured Trades: (SQM), (CGW), (TIP) Special 'Invade Bolivia' Issue 1) Politicians, industrialists, and environmentalists who see battery powered vehicles as the wave of the future are overlooking the fact that 50% of the world supply of lithium comes from impoverished, landlocked Bolivia. This is a country that until
Global Market CommentsFebruary 2, 2009 Featured Trades: (BX)One month into the year, let's review where we are among major asset classes:'? Stocks are down globally and falling. The Dow is down 10% year to date.'? The long Treasury bond bubble has popped. Corporate bonds of all grades are on a tear.'? There is a bull
Global Market Comments for January 30, 2009 Featured Trades: (AMZN), (GOLD), (AEM) 1) Q4 GDP came in at -3.8%, the worst in 26 years. The only buyer right now is the Federal government. What private spending there is can be found online. Amazon (AMZN) announced December sales up 18% YOY, sparking a 14% jump in
Global Market Comments for January 30, 2009 Featured Trades: (AMZN), (GOLD), (AEM) 1) Q4 GDP came in at -3.8%, the worst in 26 years. The only buyer right now is the Federal government. What private spending there is can be found online. Amazon (AMZN) announced December sales up 18% YOY, sparking a 14% jump in