Monthly Archive: June 2009

It’s quiet out there 4

It’s quiet out there

Where did the fear go?  While no one was looking, the VIX just made a new post-crash low: – If today’s market were a fishing trip, it would be 88 degrees at 11AM on...

Key markets pushing resistance levels 1

Key markets pushing resistance levels

US equities, the VIX, oil and copper are bucking against price levels associated with multiple peaks and troughs over the last month. The levels are as follows: July copper: resistance at $2.32 – 2.35...

Robert Prechter interview 17

Robert Prechter interview

From this morning on Bloomberg. Prechter now has a perfect record since calling for a major crash at the 2007 top and then calling the interim bottom earlier this year. He was made for...

The reality of S&P 500 earnings 8

The reality of S&P 500 earnings

To say that stocks are anything other than dangerously overpriced with a P/E of over 130 and a yield of 2.5% on unsustainable dividends is either farcical or fraudulent. – For such a simple...

Buy bonds! 3

Buy bonds!

It’s patriotic. No, seriously, I really like the 10-year note here. Today’s much talked about auction had the highest bid to cover ratio of any since mid-2007 according to Bloomberg, with plenty of interest...

A toppy-looking week 10

A toppy-looking week

Well, the reflation trade has managed to hold on for a few more days and even reached new heights, but the case for a pullback is looking that much better. Precious metals, non-dollar and...