Below is a combo chart we’ve been following for a very long time which has the HUI on top and GLD on the bottom. Looking at the GLD chart on the bottom you can see it gapped above the top rail last week but today it gapped back below the top rail signaling an island…
A choppy day in the oil market with a very tight pit trading range. API will set the tone for Thursday`s EIA Inventory report, API is out tomorrow night after the pit close. (Video length 00:09:11)
Here’s a very excellent Ben Bernanke blog post on interest on reserves. In one section he trolls Joe Stiglitz a bit who stated that banks might be sitting on reserves due to interest on reserves (something I also criticized in this post): “This claim, made even by some good economists, is puzzling. Before December, the Fed paid banks…
The fourth successive monthly increase in retail sales was one of the most positive developments the U.S. economy has experienced in recent times. Powered by an improving job market, wage growth and low gasoline prices, retail sales increased more than estimated in January. Further, the decline reported for December was revised to an increase. Such…
Photo Credit: Mighty Travels Priceline.com Incorporated (PCLN) Consumer Discretionary – Internet & Catalog Retail | Reports February 17, Before Market Opens Key Takeaways The Estimize consensus is calling for EPS or $11.96, 13 cents higher than Wall Street, and revenue expectations of $1.987 billion, roughly $11 million higher than the Street Priceline has invested heavily in developing…
We were stunned 10 days ago when, out of the blue, it seemed as if Deutsche Bank had finally figured it out: namely that constant central bank intervention is leading to increasingly more dire outcomes… such as a surge in DB CDS and its stock price plunging to record lows. The bank which had been crushed…
As China, Japan is the definition of insanity. GDP fell 1.4% in Q4 2015, marking the fifth contraction out of the past nine quarters and yet the word “stimulus” remains attached to QQE, the Bank of Japan and Abenomics in general. At this point, how much more time and sample size is necessary before calling it…
A Rebound in Stocks Begins Given that a very sharp downturn in so-called “risk assets” is well underway globally, but not yet fully confirmed by US big cap indexes, we are keeping an eye out for confirmation. This is to say, we are looking for events, market moves, positioning data, even newspaper headlines, that will either confirm…
The shares of a number of large banks are extending their rally from Friday after analysts at JPMorgan and BMO Capital expressed optimism about the outlook of several names in the sector and Barron’s reiterated its bullish view of the space. JPMorgan upgraded Morgan Stanley (MS) and Goldman Sachs (GS) to Overweight, and BMO Capital…
Gold fell back to 1191 and then has rallied back to 1216 area. Gold appears to be setting up to extend the counter-trend reaction into the first week of March. With back-to-back Directional Changes for the weeks of 02/08 and 02/15, the typical outcome is one of choppy-trend. Last week we…
