Investing and Trading News, with a Contrarian, Sarcastic Twist!
Three pot growing counties nearby here in Northern California are experiencing an “economic catastrophe” due to – get this – plummeting marijuana prices. NPR reports: Legal pot, under the guise of the California’s medical marijuana laws, has spurred a rush of new competition. As a result, the wholesale price of pot grown in these areas […]
After gapping WAY down at the opening bell, the S&P (and other indices) rallied throughout the day, slowly but steadily climbing back to even on the day. All-in-all a very respectable showing, as the first major test of support at 1050 for the S&P held. The S&P did set a new intraday low for 2010 […]
As I write this about 90 minutes before the closing well, markets opened lower and continue to languish, with declines slightly outpacing advances. This is only notable because markets are already severely oversold – at least by common metrics. So, while astute traders may have anticipated a bounce today, that has not yet materialized. I have […]
When it comes to deflation analysis, nobody does it better than Robert Prechter and his team at Elliott Wave International. The folks at EWI were kind enough to let us syndicate this excerpt from Bob’s recent Theorist newsletter, highlighting deflationary signs that the average investor may be missing. Signs of Deflation You Might Not be […]
Richard Russell’s not in the mainstream news that often – so when he is, my interest is certainly piqued. To my knowledge, Russell has been short term bullish throughout much of this reflation/retracement rally. It looks like he’s close to donning his bear cap, though. Bloomberg reports: “If the May 7 lows are violated by […]
If you consume a portion of your news from the mainstream media, it’s not easy to keep your head on straight. Separating the core facts from the nauseating spin of the financial media is not easy! And by the way, I’d even group the Wall Street Journal in with the other mainstream rags. Murdoch is […]
So far so good on that short S&P 500 position we initiated Wednesday afternoon via the futures market. We had a beautiful nosedive in equities yesterday – it was truly breathtaking, really – followed up by a somewhat muted rally that didn’t get going until late in today’s trading day. Heading into Thursday’s trading, the […]
Regular readers know that I’ve been anxious – TOO anxious – to short the S&P 500. The reflation rally was determined to “end when it ends” – and not a moment sooner. Although we are still trading above the magical 200-day moving average, I have to believe that the odds are that the current trend […]
Thanks to good friend and fellow deflationist Carson for sending along the latest CPI numbers, which were released this morning. Inflation? Where? On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in April, the U.S. Bureau of Labor Statistics reported today. Take away food and energy, and the deflation […]
The big financial news today is that Germany is taking steps to ban naked short selling. This was the “reason” stocks and the Euro were down today – at least according to the financial media. Which got me thinking – governments usually enact these types of bans in times of desperation. At least that was […]
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