I had imagined a situation in the China 25 (now 50) vs. the S&P 500 that called for China to either rise more than the US or decline less. It was based on this weekly chart and its moving average ‘up’ signal which, while still in effect has turned out to be a load of…
The mainstream media reported the Case Shiller Index for “May.” I put that in quotes because the data does not represent the actual state of the market in May. Case Shiller represents the 3 month average price of repeat sales (not all sales, just houses that had sold previously) which were recorded by county agencies…
The American Chemistry Council’s updated Chemical Activity Barometer continues its uptrend. From the report is and extract below: “The Chemical Activity Barometer is a leading economic indicator derived from a composite index of chemical industry activity. The chemical industry has been found to consistently lead the U.S. economy’s business cycle given its early position in…
Coal producer Peabody Energy Corporation (BTU – Analyst Report) reported a loss of 58 cents per share in second-quarter 2015, marginally narrower than the Zacks Consensus Estimate of a loss of 59 cents. Peabody had posted a loss of 28 cents in second-quarter 2014. The loss per share figure in the reported quarter was within the company’s guidance…
This week we get a read on the social media space, with companies like Twitter, Facebook, Yelp and LinkedIn all reporting second quarter results. Tonight Twitter and Yelp are up, the two less-favored of the four social media companies reporting this week. Estimize is looking for Twitter to post EPS of $0.06 on Tuesday, a penny higher…
Greece insists it has met all of the conditions for another bailout, but only one vote matters, that of the creditors who say Greece hasn’t. One of the stickiest issues is hiking taxes on farmers. But if tax hikes is what the creditors want, that’s what they will get. Greece should realize that by now….
As we enter the heart of second quarter earnings season, all the major indices sold off two percent or more last week, and volatility has increased within the equity markets over the past month even as stocks are almost exactly at the same level. This week started with a significant test as the Chinese market…
Gold’s recent collapse has triggered some questions as to the cause of the weakness more fundamental that the extraordinary dumping of gold last Sunday night just as Shanghai was opening. That selling triggered a rout that has taken gold under $1,100, to six year lows. Six major reasons can be provided, with different time-frames and…
Just two years after Toy’R’Us attempted (and failed) to IPO, Bloomberg reports that insurance companies are cutting back on their coverage of the firm’s suppliers. Without this ‘insurance’, which protects suppliers in case a retailer fails to pay them for merchandise – as in the event of a bankruptcy – the risks of shipping to the retail chain soar….
My “try to be a partial bull” yesterday blew up in my face. Not to be vanquished, I gave it another go today, and it’s working out (so far!) My best winners have been XOP and XME, and I’ve got a smattering of other long positions. In addition, I’ve trimmed back substantially on my shorts. Having…
