The sharp drop in oil prices in the past few weeks confirms the oil price forecast that I published back in May 2013, when West Texas crude sold for $94.50: “Oil prices are headed down, and I mean down at least $20 a barrel. The key reason is that prices have been high. It’s not a paradox,…
“Twas the week before Christmas, when all through markets Not a trader was stirring, because they already left for the Hamptons. Which left the “inmates running the asylum” with very little care As everyone hoped a ‘Santa Claus Rally’ would soon be there.” Yes, it is that magical week leading up to Christmas and the…
The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend. Senator Elizabeth Warren charged Citigroup last week with…
Of the three regional manufacturing surveys released to date for December, two show manufacturing softer this month – and this Kansas City Fed Survey which improved. The market was expecting a range between -6 to 9 (consensus 8) versus the actual at 8. TENTH DISTRICT MANUFACTURING ACTIVITY EXPANDED AT A MODERATE PACE The Federal…
Signing of Dodd-Frank – Now Virtually Repealed/Gutted The NY money center Banks won again in Washington, the second time in a single month. They succeeded in repealing Dodd-Frank and have now succeeded in repealing the Volcker Rule, which it is officially put on “delay” that will be permanent. The Federal Reserve has repealed the Volcker…
In line with a regulatory filing, five of eBay Inc.‘s (EBAY – Analyst Report) top executives will step down following the spinoff of its payment-processing unit PayPal next year. The departure of the employees will cost the company more than $35 million. Golden Parachute Golden Parachute implies a hefty payment or financial recompense guaranteed to an employee if…
The Weekly Leading Index (WLI) of the Economic Cycle Research Institute (ECRI) is at 131.1, down from the previous week’s 132.3, its lowest level in a year. The WLI annualized growth indicator (WLIg) is at -3.1, down from -2.4 the previous week. This is its lowest level since June 2012. ECRI has been at the center of…
Another occasional winner, folks! And this one is a doozy. In my video to everyone from Sunday, Santa Claws Part 3, one of my short ideas was IMGN (by chance, it happens to be the thumbnail image of the video). It lost half its value this morning, even though, as the geniuses at CNBC might say, it is “off the…
Written by Gary Markets have maintained a bullish stance since this mornings opening, trading sideways on falling volume indicating a consolidation phase. By noon there appears to be some weakness and a trending down which could be nothing more than session ‘softness’. Indicators are still pointing that market direction can go either way at this point…
CarMax Inc. (KMX – Analyst Report) posted earnings per share of 60 cents in the third quarter of fiscal 2015, ended Nov 30, 2014, highlighting an increase of 27.7% from 47 cents a year ago. Earnings also surpassed the Zacks Consensus Estimate of 54 cents. The company recorded better results in the reported quarter due to strong performance…
