After logging in the biggest weekly drop of 11% in more than seven years on a rising yen, fears of a global slowdown and the sell-off in banks, the Japanese stocks bounced back strongly at the start of this week. Notably, the Nikkei 225 index jumped 7.2% in Monday’s trading session, representing the biggest daily…
Below is a daily chart for the HUI which shows the double bottom with the breakout. I mentioned last week that in a perfect Chartology world this would be a good place to see some type of consolidation pattern form above the double bottom hump which comes in around the 139 area which would also…
Another Dismal Manufacturing Report The string of dismal manufacturing reports continues unabated today, starting back at the top with the Empire State Survey, the first of Fed-sponsored regional surveys. This survey is conducted by the New York Fed. Contraction in the Empire State region has now lasted seven months. The Econoday Consensus Estimate was -10. The survey…
Why you should hope the Fed hikes again in 2016… Like Pavlov’s dog, market participants seem to salivate with any mention of quantitative easing (QE). For good reason, I suppose, as they have been conditioned to believe that quantitative easing means higher stock prices. Indeed, since QE1 was launched in December of 2008, all of…
Last month when China’s exports “only” declined by 1.7% (revised) the entire orthodox world took it as a definitive signal for the long-awaited monetary stimulus effects. Whether it was the yuan’s “devaluation” or the six rate cuts and the often double shots of reserve requirement reductions that accompanied them, December trade figures were so very…
The gold/silver ratio is historically rather high at 78.5.
According to the Bureau of Labor Statistics (BLS), there were 151k, 000 net new jobs created in the month of January, and the unemployment rate fell to 4.9%. The continuing increase in new job creation and removal of slack in the labor market is causing the Phillips-curve-obsessed Fed to maintain a tightening stance on monetary…
Dave and Busters Entertainment (PLAY – Snapshot Report) is an owner and operator of dining and entertainment venues across North America. Headquartered in Dallas Texas, their venues offer food and drink, as well as an assortment of entertainment games and televised sporting events. The locations offer a unique blend of entertainment for adults with a bar atmosphere, along…
Shares of Gogo (GOGO) plunged in morning trading after a report from the Star-Telegram said American Airlines (AAL) filed a lawsuit against the company, claiming its contract with Gogo lets it renegotiate or end its agreement if another company offers better internet service. WHAT’S NEW: American Airlines filed a lawsuit against Gogo in a district…
Oil prices (and the broader financial markets) have suffered from acute bouts of volatility so far in 2016, with dramatic intraday swings the most worrying feature, and as OilPrice.com’s Charles Kennedy warns, this shows no signs of letting up. With realized volatility soaring… The CBOE Crude Oil Volatility Index, that tracks (as it name suggests) the implied…
