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HT, Dealbreaker 
Tuesday, October 26, 2010
Thursday, October 21, 2010
I Read the News Today, Oh Boy: Wall Street Monopoly
- House Advantage - Banks Shared in Profits on Securities Lending, but Not Losses - NY Times
- Foreclosure Fraud For Dummies - The Big Picture
- Banks have essentially sidestepped 400 years of property law in the United States - NY Times
- Now we know why the banks were sitting out the rally - The Fly
- Foreclosure Fortune Buys Bugatti, Yacht, Mansions for Attorney David J. Stern - Bloomberg
- Warren Buffett: Forget gold, buy stocks - Fortune
- U.S. Will Soon Be It's Own Largest Creditor - Infectious Greed
For links like these in real time follow me on twitter.
Friday, October 15, 2010
Thursday, October 14, 2010
Infographic: The Economics of Hamburgers
I consider myself both a burgerphile and a numbers geek. So when I came across the following infographic I was understandably both awed and inspired:
Friday, October 08, 2010
I Read the News Today, Oh Boy: Another Crappy Jobs Number
- How Kobe Bryant Explains Everything That's Wrong With Wall Street - Business Insider
- Japan struggled for 20 years with zombie banks. Here in America we have millions of zombie homeowners. - WSJ
- Citi: With Bond Yields Where They Are, Stocks Need To Crash - Business Insider
- California Prepares To Issue Marijuana Bonds If Prop 19 Passes - Business Insider
- J.R. Ewing of "Dallas" wins $11 million in damages from Citigroup in fiduciary misconduct case - LA Times
- Jonathan "Jon" Baker of "CHiPs" charged with securities fraud - LA Times
For links like these in real time follow me on twitter.
Is Mr. Market Doing the Wile E. Coyote?
The jobs news today can hardly be described as good but don't tell that to Mr. Market. Right now he's on a bull tear and doesn't care what the news is; he's going higher just because he feels like it.
My last update on stocks noted that the S&P had rallied up to the neckline of the inverted head and shoulders pattern we had been watching for quite some time. Since then stocks have broken out above and seem to be headed for a test of the year's highs:
There are some signs, though, that Mr. Market might be getting a little bit ahead of himself.
My buddy, RC, just sent me this chart that has him "concerned" about the near-term direction for stocks:
In the short-term I share RC's "concern." The divergence of the McClellan Oscillator in his chart and in the RSI and MACD in the chart above it are technical red flags warning that the rally may be running out of gas.
I'm also concerned about the fact that financial stocks continue to lag badly behind the broader market. While stocks broke out, financials broke down out their pennant formation:
In addition, the "smart money" is seemingly positioning for at least a pullback...
...and the "dumb money" is getting pretty bullish:
Both technicals and sentiment then are lining up against stocks right now. So is Mr. Market doing the Wile E. Coyote?
That I can't say but, all in all, I do think it's time for a dose of caution.
DISCLOSURE: Long TWM
Tuesday, October 05, 2010
I Read the News Today, Oh Boy: Is the Smart Money Getting Short?
- Is the Smart Money Getting Short? - Pragmatic Capitalism
- Buy high, sell low: Retail investors just won't learn - Fortune
- Buffett hints at bond bubble - Fortune
- Small investors continue to move into bonds - Pragmatic Capitalism
- "Rogue Trader" Gets 3 Years, $6.7B Fine - Consumerist
- Google TV: Your phone is a remote. Boom goes the dynamite. - Androinica
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