Those looking for a pullback from the December-January rally in the S&P are now looking at a Fib overshoot. The loss of the 61.8% level typically means a retracement of the entire move, which in this case is a test of 1,971.32. If this does indeed happen it will set up a possible head-and-shoulder reversal,…
Back in December there was a flurry of press around the passage of a banking bill that was 1) reportedly written by Citigroup and 2) put taxpayers on the hook for over-the-counter derivatives, obscure financial instruments that periodically blow up and in which Citi (C) had a big position. Distrustful cynics like Massachusetts Senator Elizabeth…
“Most of them became wealthy by being well connected and crooked. And they are creating a society in which they can commit hugely damaging economic crimes with impunity, and in which only children of the wealthy have the opportunity to become successful. That’s what I have a problem with. And I think most people agree…
Curve Watcher’s Anonymous has been watching the race to zero or negative yields in government bonds. In the race to see which country will be first to hit zero percent or below on 10-year government bonds, Japan is currently in the lead at 0.295%, Germany is in second place at 0.447%, and the US trails…
Here’s my chart of the VIX. I’ve put a blue dot at the peak of each spike. One thing is clear: the kind of market I enjoy (panic, mayhem, chaos) is going to be happening with more frequency than in the past, as illustrated by the rounded rectangles. Times are changing, folks. The forces of evil…
As the U.S. economy bravely trumped all difficulties at home and abroad, 2014 was another great year for the country’s stock market. The S&P 500 posted the third consecutive year of double-digit gains of 11.4% while Dow Jones Industrial Average added 7.5%. With this, the U.S. bull market is strongly moving ahead to celebrate its…
As energy stocks continue to catch down to oil-price’s incessant weakness, US energy company credit risk has surged back above 1000bps for the first time in 3 weeks. WTI Crude oil prices just traded to a $47 handle – the lowest since April 2009. Another day, another fresh low… And energy stocks are catching down…
Income Inequality – just another political deception on Americans crafted by Democrats. Read Ed Rogers piece at The Washington Post below. The Insiders: Income inequality — the issue the Democrats want By Ed Rogers January 5 It is interesting to watch the Democrats work to fashion “income inequality” into an issue they think they can use….
Minerva Neurosciences Inc. (NASDAQ: NERV) shares soared as much as 40% and hit a new high of $10 after the company announced that the resultsMonday from a Primomed non-human primate study, which showed that treatment with an analog of MIN-301, the company’s investigational neuregulin-1 compound, has resulted in improvements in a range of symptoms associated with…
Shares of Cytrx Corporation (CYTR) soared 20% on the news that their cancer drug, Aldoxorubicin, achieved positive phase 2 results in patients with brain cancer. Phase 2 is to show clinical efficacy but Cytrx hit the ball out of the park. This is because 12 patients enrolled in the trial showed tumor shrinkage in the brain, and…
