Investing and Trading News, with a Contrarian, Sarcastic Twist!
Big hat tip to our friend Brian Hunt, who referenced this classic trading passage and lesson from Edwin Lefevre’s Reminiscences of a Stock Operator. It’s about a humble, old, and somewhat eccentric trader who appeared to be wiser than those around him because, rather than trading in and out of positions, he was content to […]
Next Year – The Third Year of the Presidential Cycle! Being Street Smart Sy Harding December 20, 2010. The history of the Four-Year Presidential Cycle is that the stock market tends to experience its worst corrections and bear markets in one or both of the first two years of a president’s term, and then be […]
Quietly, Chinese stocks continue to slide, now down 12% for the year to date. Since China had announced its plans to target inflation, the Shanghai Index has taken it on the chin: Chinese stocks quickly retraced a portion of their 2008 losses – and then slowly faded. (Source: StockCharts.com) Regular readers know that we like […]
Here’s an interesting take on the lasting effects of WikiLeaks from geopolitical expert George Friedman, Founder of Stratfor. I go on and off with my subscription to Stratfor – they give excellent insights into geopolitics, taking a game theory approach to determine what actions the various actors will take. While I’m not currently a subscriber, […]
Municipal bonds continue to get taken to the cleaners – here’s an ugly chart for ya: Muni bonds fall off a cliff. (Source: StockCharts.com) Ever since the Muni Bond Put known at the Build America Bonds fund was given an expiration date, investors have shown little appetite for tax-free municipal debt. Mish Shedlock explored the […]
Continuing on our theme from yesterday that investor sentiment has reached an extreme level of jubilation, John Hussman writes that we’ve now reached the pantheon of “awful times to invest”: In recent weeks, the U.S. stock market has been characterized by an overvalued, overbought, overbullish, rising-yields syndrome that has historically been hostile to stocks. Last […]
Overall credit, as measured by the quarterly Z1 report, turned up significantly in the 3rd quarter for the first time in a few quarters – does this mean the deflation threat passed? Fellow deflationist Vox Day is not impressed – he writes: So, while Z1 reports a quarterly increase of 0.43% in overall credit, the first […]
Over the longer haul, many of us believe that oil is heading higher. If you subscribe to the peak oil theory, or at least some derivation of it, this trend is basically regarded as fact. But for the shorter term, oil may be due for some degree of pullback. Speculative longs on the black goo […]
The “dumb money” is starting to work itself into a frenzy – Steve Sjuggerud writes in today’s DailyWealth: Today, “the Dumb Money is 71% confident in a rally,” my friend Jason Goepfert wrote. Jason tracks investor sentiment through his website SentimenTrader. The last time the Dumb Money was this optimistic was back in April, right before the […]
As most intelligent investors and business people can see, most of the recent stimulus and “quantitatively eased” funds are not really finding their way into the heart of the American economy. Ironically, much of this money is heading overseas, with China being as hot a destination as any. So, while boneheaded American politicians hem and […]
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