Boy is this getting silly. Apparently, we never learn. Well, we at PSW learn. We’ve been hedging the crap out of this rally for reasons that should be entirely evident on this chart – earnings are NOT GOOD! If earnings aren’t good, then why are companies racing up to all-time high valuations? Simply…
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH15 -0.14%) this morning are down -0.09% and European stocks are down -0.19% led by a decline in bank stocks after Barclays fell over 3% when it said it set aside 750 million pounds ($1.2 billion) for the settlement of a currency-manipulation probe. Also, data from the Basel Committee on Banking Supervision said…
Note from dshort: I’ll be taking another look at this market valuation indicator shortly after the Federal Reserve releases the Q4 Financial Accounts at noon EST on March 12th. The Q Ratio is a popular method of estimating the fair value of the stock market developed by Nobel Laureate James Tobin. It’s a fairly simple concept,…
With little newsflow out of Europe, and just as little on deck out of the US (just NY ISM and auto sales later today), the main overnight events were out of Asia where first the RBA decided to leave rates unchanged (despite the majority calling for a rate cut) when as Bloomberg’s Richard Breslow noted,…
For an international exporter of natural gas, Gazprom (GAZP) has seen its deal of shaky times. More recently, however, Gazprom’s stock price has suffered as a direct result of the conflict in Ukraine. Russia hosts the world’s largest extractor of natural gas, Gazprom, but the Russian government has also been entangled in the political instability in Ukraine for some…
GBP/USD Signals Update Yesterday’s signals were not triggered as the price did not reverse from the 1.5350 level until after the London session ended. Today’s GBP/USD Signals Risk 0.75% per trade. Trades may only be made between 8am and 5pm London time. Short Trade 1 Short entry after bearish price action on the H1 time frame…
TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence. Monday, March 2nd, 2015 was truly a historic day for the Dow Jones Industrial, reaching for the sky closing on a new all-time high of 18,288.63. Many investors continue discussing the potential of…
The Reserve Bank of Australia defied expectations and left rates on hold earlier today. This has lifted the Australian dollar back to yesterday’s highs near $0.7845 where it stalled. The derivatives market had discounted nearly a 2/3 chance of a cut today. The RBA’s statement indicates the door is open to further easing, and most analysts…
The expected risk premium for the Global Market Index (GMI) increased in the February estimate — the first rise in six months. GMI — an unmanaged, market-value weighted mix of the major asset classes — is projected to earn an annualized 4.0% over the “risk-free” rate for the long term. (For details on the equilibrium-based methodology that’s…
Axiomatic One of the fundamental axioms of economics is that we know what we like: we have preferences, they’re consistent across time and they can be revealed by careful experimentation. This, of course, is utter nonsense. Yet it’s not just a guiding principle of economics but is also a rough and ready rule we live…
