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by Phoenix Capital Research
Stocks are now beyond overbought. The market ramped on Tuesday (the 17th straight Tuesday rally by the way) because traders are now playing for Tuesday rallies.
The financial media is looking for any and all reasons to justify the move, but the fact is that the market had rallied for 16 straight Tuesdays before… so why not a 17th time?
Behind this backdrop things only worsen. The divergence between stocks and the [...] by Phoenix Capital Research
More signs of trouble. We’ve been told countless times that Europe was “fixed.” The problem with this is that the market is beginning to realize this is not true. Much of the European recovery counts on Germany. The ECB owns the printing presses… but without Germany’s support, the Euro is done for. However Germans are only going to be supportive of the Euro up to a point. That point is [...] From John Hussman’s Weekly Market Commentary: “Even the intelligent investor is likely to need considerable will power to keep from following the crowd.” – Benjamin Graham “Human beings desperately want to belong, but, they also desperately want to understand the environment around them. Often, the desire to belong and the desire to know the truth conflict. The idea of the majority view or the ‘mainstream,’ gives people the sense that they are a [...] The title of fund manager and noted bear John Hussman’s weekly note: “Capitulation Everywhere.”
After a steady grind higher in stock markets to start 2013, Hussman is feeling pretty lonely in the bearish camp. He writes, “The bears are gone, extinct, vanished. Among the ones remaining, many are people whom even I would consider to be either permabears or nut-cases. And yet, the historical evidence for major defensiveness has rarely been stronger.” Hussman also [...] Dr. Marc Faber, the author and publisher of the “Gloom Boom And Doom” report is one of the most well-read economists out there. I am of the opinion that his suggestions and investment advice are more realistic than any other economist or analyst we hear and read regularly. The summary of Dr. Faber’s latest monthly report suggests that he views 2013 as a year of capital preservation. In other words, [...] Top Economist Hussman: US Likely Entered into a Recession in Mid-2012 The U.S. economy likely slid into a recession during the middle of 2012, said economist and fund manager John Hussman. The U.S. economy officially grew 1.3 percent in the second quarter and 2 percent in the first quarter, but such assumptions are made with backward-looking indicators, or those that capture events that have already happened. Leading indicators, which point to where the economy [...] There’s No Engine for Global Growth Pt 1 (China)
by Phoenix Capital Research
Swing by www.gainspainscapital.com for more market commentary, investment strategies, and several FREE reports devoted to help you navigate the coming economic and capital market changes safely.
I’ve been skeptical about China for some time. While I do believe China has made some serious economic progress as a country, I remain thoroughly convinced that ultimately its economic “miracle” will be much like that of [...] From Newsmax: The return/risk profile of the Standard & Poor’s 500 Index has dropped to its lowest point of the last 100 years, according to mutual fund manager John Hussman. That certainly points to an overvalued, overbullish market, he writes in his weekly commentary. “All of this should make bells go off for anyone familiar with market history. Of all the investment adages that are being embraced as reasons to accept market risk, [...] Swing by www.gainspainscapital.com for more market commentary, investment strategies, and several FREE reports devoted to help you navigate the coming economic and capital market changes safely.
As I’ve outlined in earlier articles, Spain will be the straw that breaks the EU’s back. The country’s private Debt to GDP is above 300%. Spanish banks are loaded with toxic debts courtesy of a housing bubble that makes the US’s look like a small bump in comparison. [...] by Phoenix Capital Research
Swing by www.gainspainscapital.com for more market commentary, investment strategies, and several FREE reports devoted to help you navigate the coming economic and capital market changes safely.
Today as was the case a month ago, everything ultimately hinges on Germany. Political intrigues aside, Germany is just about out of money. And Merkel has to decide… save Germany or save the EU. Only one of these options is even possible at this point [...] by Phoenix Capital Research
Swing by www.gainspainscapital.com for more market commentary, investment strategies, and several FREE reports devoted to help you navigate the coming economic and capital market changes safely. The stock market is closed today for Labor Day.
A few thoughts on the preceding week:
The US Federal Reserve disappointed in a big way during its annual Jackson Hole meeting. It was in 2010 that Fed Chairman Ben Bernanke hinted at QE 2, which kicked off [...] by Phoenix Capital Research
Swing by www.gainspainscapital.com for more market commentary, investment strategies, and several FREE reports devoted to help you navigate the coming economic and capital market changes safely. Mr Draghi… a few questions for you…
You say that whatever measure you take… it will be “enough” to support the Euro. Seeing as you’ve already spent over €1 trillion via your LTRO 1 and LTRO 2 schemes only to find that:
The uptick in EU banks [...] UBS technical analysts Michael Riesner and Marc Müller make some grim predictions for the stock market in their latest weekly market commentary. Riesner and Müller write that the continued outperformance of U.S. stocks versus the rest of the world does not seem sustainable. From their note: Last week we highlighted the increasing divergences on the inter-market side between the still resilient SPX and the weak picture in Asian markets, underperforming cyclical sectors, declining inflation expectations, and the [...] From Zor Trades: …Jeffrey Saut’s of Raymond James most recent market commentary is a GEM of a piece, here’s a sneak preview: “The public is most comfortable when they are sitting with losses. Because if their stocks are down from where they bought them, they don’t have to worry about them. “Once he’s got a loss, the typical investor is sure he isn’t going to sell. He bears the lower price because in [...] Blackstone heavyweight and noted lothario Byron Wien is out with his latest monthly Market Commentary, and it’s pretty bearish.
That’s in contrast to his recent call for the S&P 500, which he said should reach 1500. While he maintains this bullish near-term call, for everything after 2012, Wien sees a mess: “I have been forecasting higher rates for some time and been wrong. I do believe that we have reached an inflection point and that 10-year Treasury rates will [...] This is a bit of market commentary that’s absolutely staggering in terms of its honesty and the selflessness of the speaker. If you’ve not heard of Dan Fuss, he’s the legendary mutual fund manager who runs the Loomis Sayles Bond Fund, an institutional favorite for Dan’s ability to go anywhere in search of fixed income market alpha. Dan’s been trading bonds since the Civil War (or for more than 50 years, but [...] From The Gold Report: Like water, which goes from a life-giving force in the right proportions to life threatening when it floods a constricted space, Global Resource Investments Founder and Chairman Rick Rule is worried about drowning in a sea of currency printed by central banks all over the world in an attempt to create liquidity. “When I say adding liquidity, I’m not trying to say that they’ve mobilized private savings,” [...] So what happens next with stocks as they continue to trade near four-year highs?
“In each of the past two years the stock market began a slide in the spring, a phenomenon often referred to by the old adage ‘sell in May and go away,’ which lasted well into the summer months,” wrote LPL Financial’s Jeff Kleintop in his latest weekly market commentary. The pattern is almost eerily similar. “In both 2010 and 2011 an [...] From Pragmatic Capitalism: John Hussman is describing the current market environment as being comparable to past historical occurrences when it was an “awful time to invest.” In his latest market commentary, he writes: Importantly, the market is again characterized by an extreme set of conditions that we’ve previously associated with a “Who’s Who of Awful Times to Invest.” The rare instances we’ve seen this syndrome historically are reviewed in that previous weekly [...] BLOOMBERG TELEVISION PRESENTS “TITANS AT THE TABLE”: AN EXCLUSIVE CONVERSATION WITH TOP FUND MANAGERS
- TONIGHT AT 9 PM ET/PT -
Meet the Titans…Tonight, February 23rd at 9pm ET/PT, Bloomberg Television’s Betty Liu presents a special gathering of some of the hedge fund world’s heaviest hitters.
Hosted at Danny Meyer’s restaurant The Modern in New York, tune in to hear exclusive market commentary and candid insight on regulation [...] While Marc Faber shares the usual stock of insightful market commentary, together with timing inflection points, and extended thoughts in the attached Bloomberg TV clip, it is the fact that he has officially joined Bill Gross, and so many others, in supporting the candidacy of Ron Paul as president. It is rather sad that only those who see beyond the surface of the current pyramid scheme facade, are bold enough [...] by ZH Bottom line: nothing now, QE3 now expected to be delivered Sept. 20? or not… BERNANKE SAYS FED HAS LIMITED ABILITY TO ENSURE LONG-RUN GROWTH Readers can [...] From Peter Tchir Of TF Market Advisors Market Commentary: What An Ugly, Ugly Day We are finishing at the lows or within spitting distance of the lows across the board, except for Gold, which traded like gold, all day long. Nothing really did anything to slow the increase in the price of gold. Overnight stock trading was less painful than many people expected (and [...] From Russ Certo, head of rates at Gleacher. by TradeMark I know a lot of readers here are fans of Marc Faber, but even if one is not, there are very few who can entertain like this man while offering his market views. While tagged as “doom and gloom” I generally find much of what he says very realistic – especially in the near and intermediate term. In the [...] From FMX Connect Summary Active Options Analysis: Skew [...] From Art Cashin’s market commentary: Does Jerry Brown Have Bernanke’s Phone Number? – A reader of these Comments picked up on our re-examination of Mr. Bernanke’s 2002 speech on how to fight deflation. We noted that Mr. B had suggested that the Fed had the power to buy foreign bonds if it chose to do so. The gentleman pointed out that Bernanke also suggested that the Fed could [...] Via zerohedge: As always, very useful economic and market commentary from David Rosenberg. If this European crisis has accomplished anything, it has taken the froth out of commodity prices. Even gold is softening but every time it goes to test the 200-day m.a.  now at $1,100 oz  it becomes a great buying opportunity. Moreover, this has all but eliminated the overvaluation gap in the Canadian [...] |
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Are We Going To Experience A Massive Amount Of Economic Pain Along With The Rest Of The World?
Markets under a monetary easing ‘spell’: BIS
Markets are under a “spell” of global monetary easing that leaves valuations vulnerable to changes in sentiment, the Bank for International Settlements warned Sunday.
The Bank for International Settlements, effectively a central bank for central banks, has long sounded the alarm over dovish policies pursued by the Federal Reserve, the Bank of England, the Bank of Japan and other central banks.
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The BIS says [...]