Author: Kevin Klombies

After more than a year of gapping down following the release of quarterly earnings the share price of Cisco surged higher yesterday. This was one of the two factors that helped to pivot equities higher and bonds and gold lower...

The problem with the Fed’s statement that it is going to hold interest rates at extraordinarily low levels into 2013 is that it effectively pulls 2-year Treasury yields down towards 0%. Let’s take a quick look at the...

One of our views is that crisis markets come at the beginning or end of a cycle. They either initiate a bear market or mark the end of a bear market. They either precede a recession or come at the conclusion of a long period of...

The decline in the equity markets has taken out one support level after another so attempting to pick a bottom is almost pointless. Our view is that we are the midst of a ‘crisis market’ that is working very hard to...

With S&P’s downgrade of U.S. debt following the close of trading last week any bullish or even neutral perspective is going to be put to the test today. However, since our intention was to start with the chart below we...

The entire year has been little more than one crisis after another. From a glass-is-half-full perspective the fact that asset prices have remained stronger for so long is borderline miraculous given the severity of the issues...

Two of our favorite arguments are that the markets repeat cycles in unexpected ways and that cycles tend to run from decade to decade. We thought that we would expand on these thoughts somewhat in today’s issue.From time...

In the midst of all of this gloom our view is that the cyclical trend is going to slowly improve from August through November with long-term yields resolving higher while gasoline, Brent crude, and gold prices decline. This...

We are going to begin with Netflix in the context of the trend for short-term yields, focus on what drove yields higher back in 2004, compare it to the current situation, and then eventually end up with yet another bullish...