Traders have gunned the market higher over the last two weeks courtesy of: 1) Short covering 2) The Euro rally on French liquidity concerns 3) Rumors of yet another Euro…
It is now clear the US economy has broken down in a BIG way. Indeed, no less than Ben “green shoots” Bernanke has stated that the recovery is “close to…
I wanted to take a moment to discuss the current stock market rally. For starters, this rally has largely been driven by short covering. Before the market exploded last week,…
Things are getting truly desperate in Europe. I’d like to show just how bad they are by way of example: the Belgian bank Dexia, which is now in the process…
The market action of the last few days reeks of short-covering more than anything else. I realize that rumors abound of more European bailouts (what is this… the 12th rumor?),…
While the European banking collapse is grabbing the most attention, the US banks, particularly the Too Big To Fails are showing serious sounds of distress as well. As you’ll recall…
Stocks have now begun to confirm what the credit and bond markets have been telling us for weeks: that we are in a full-scale Crisis and going to new lows.…
Looks like the end of the quarter performance gaming is over. Indeed, the market got rejected in a big way at resistance (1,175 on the S&P 500). It then rolled…
I wanted to take a moment to address the Fed’s new program of buying the long-end of the Treasury curve and its implications. First off, because of the August collapse…
As I’ve noted in recent missives to you, the world financial system has begun the Great Collapse: the Crisis I’ve been warning about for over two years. I wanted to…
The markets are snapping back sharply on short covering and end of the month performance gaming. Hedge funds have been getting destroyed over the last few months. So now, more…
The market onslaught of the last week is now staging a snap-back rally. As I write this Sunday evening the S&P 500 has pushed to 1,143 in the futures markets.…
I’ve been warning for weeks now that the Fed would disappoint with its September meeting. And boy did it. As I forecast, the Fed didn’t announce QE 3. In fact,…
While most commentators proclaim that QE is a completely new phenomenon, we have in fact seen a version of it in the form of the Fed’s and Asia’s (especially China’s)…
The financial markets are currently waiting for the Fed to announce QE 3 or Operation Twist 2 either today or tomorrow. I don’t think either of these are coming. In…
The financial markets are literally standing on the ledge of a cliff looking down into the abyss. The fact we’ve had a coordinated Central Bank intervention in the last week…
The market is rallying on short-covering and the usual options expiration manipulation. It’s now obvious traders are gunning for 1,200 on the S&P 500. We were at 1,140 o the…
If you believe that our leaders have even the slightest clue of how to solve the economy’s problems, Obama’s jobs proposal should rid you of your delusion. This is not…
The similarities between 2008 and today are getting scarier by the day. We’ve already seen the Hank Paulson mega-bazooka-bailout from the Emergency Fund in Europe. We’ve also seen short-selling bans,…
I’ve been warning that the markets were on the verge of another round of Deflation. By the looks of things, it’s here with the US Dollar breaking out of its…
