Sign inRecent Commentaries tagged (xoi)
Chart Presentation: Equities vs. Commodities
Feb. 4 (Bloomberg) — The California State Teachers’ Retirement System, the second-biggest U.S. public pension, is considering investments in commodities to boost returns and provide a hedge against inflation and slumping equities. Obviously the news snippet included above was from last month...
Chart Presentation: 1991
We are fond of comparing one time frame to another. While it is impossible (for obvious reasons) to argue that today is exactly like some previous point in time... we have to admit that we do find today’s comparison fairly compelling. The argument is that March of 2010 is, in some respects,...
It's All About Lower Highs And Trading Pullback Off Lows Patterns
As you can see Friday the indexes stopped cold on the 61.8% fibonacci level after an options expiration vertical assault up On Monday, the market may rise to fill the gap created in January and to retest that resistance level to see how it acts should it get there. Seeing as how it's...
Chart Presentation: Comparison
It was a mixed session yesterday as the U.S. dollar firmed slightly with gold, copper, and crude oil prices declining. Late in the day the outflow of money away from the U.S. equity markets appeared to abate somewhat following the conclusion of the Federal Reserve Open Market Committee meeting.
Chart Presentation: Risk Aversion
The essence of a carry trade lies with borrowing money in a low interest rate market and investing it in a higher interest rate market. Simple. Borrow money at, say, 1%, invest it at 5%, and sit back and watch the profits roll in. The problem with most carry trades is that eventually and...
Chart Presentation: Autos, Oil and Circles
Nov. 2 (Bloomberg) — Ford Motor Co., the only major U.S. automaker to avoid bankruptcy, posted third-quarter net income of $997 million and its first operating profit since early 2008 on smaller discounts and higher sales.We have probably made this point a dozen or more times over the past...
Chart Presentation: Decade Trend
SHANGHAI (Reuters) - The ChiNext stock market (0#CHINEXT.SZ), China’s long-awaited Nasdaq-style second board, debuted on Friday with a speculative surge that more than doubled the price of all 28 stocks during intraday trade — a good sign for companies lining up to list on China’s stock markets....
Chart Presentation: Fed Policy
From time to time we argue that it is getting close to the point in time when the Federal Reserve will start to raise the Fed funds target rate. We thought we would ‘snug’ this argument up just a bit to show that while a case can be made... the markets have yet to reach the point where a rate...
Chart Presentation: Gold Related
Oct. 22 (Bloomberg) — Copper fell from the highest price in almost 13 months in New York as the dollar strengthened, eroding metals’ appeal as an alternative investment. Oct. 23 (Bloomberg) — The dollar traded within a half-cent of a 14-month low against the euro as stocks gained on better-...
Chart Presentation: The Back Half
One of our recurring themes over the past few years has been that the markets have featured a strong energy and metals price trend through the first half of the year followed by ‘something else’ over the second half of the year. Given that ‘something else’ is a somewhat vague description of the...
Chart Presentation: A New Reality
If a trend runs long enough it becomes accepted as a given. For years everyone knew that stock prices always go higher although we used to argue that the same was true for commodity prices as long as one didn’t mind the odd 20 or 30 year consolidation. Immediately below we compare the share...
Chart Presentation: The Lag
Quick note: We are going to be AWOL again from Friday through all of next week. We will send out an IMRA issue for Thursday and then it is off to a series of high-level meetings (tequila and scuba diving but not, of course, at the same time) at the center of the financial world (south of Cancun,...
Chart Presentation: XOI/SPX
We are going to return to an argument that we have made in these pages many times over the past year or so. It has to do with a comparison that we constructed some time back concerning the way the equity markets shifted from a bearish to a bullish trend in the autumn of 1990. Quickly... 1990...
