M-3 Money Supply Down

Years ago on Thursday afternoon, all the financial traders of the world used to wait in anticipation of the Federal Reserve release of the weekly money supply numbers.  It was a big deal, especially in the 1970’s when the Fed …

Figure(s) of the Day-UPDATED

Two figures of the day today. One is American Idol. I mention it because a guy from the CME Trading Floor started a company in his backyard called “Wuli Records”. There was a kid who used to jam in his …

Everything is OK…Right?

Market rallied late yesterday, and is up today. So everything must be okay right?  Hardly, the market is taking a breather.  It will assume a direction depending on the outcome of events.  Plus, it’s looking forward to a long holiday …

Technical Analysis and the Market

I was on CNBC early this morning and got into a little debate about Technical Analysis: Technical analysis is a useful tool.  No doubt about that.  However, you can get married to technical analysis.  This causes you to make bad …

Ugly-Uncertainty is Never Bullish for Markets

Roubini might be right again this time. He got some help from Korea. The contagion in Europe has spread to Spain. Spain has always been a profligate spender of other people’s money. Infamously, they implemented a “Green Jobs Program” that …

Gold, Congressman Anthony Weiner, Glenn Beck and You

No doubt that you have seen ads or heard ads in the media touting GOLD!! What should you do? Are you missing something? Congressman Anthony Weiner(D-NY), and media personality Glenn Beck have gotten into a big tiff over GOLD.  Of …

Ban Speculation

That didn’t take long.  Greek PM wants to blame the speculators for his problems.  He is calling for an international coordinated attack.  Plus, he says Green jobs are the future of the Greek economy. This is hilarious, if it wasn’t …

Reprint from Ace of Spades

I love the way this is presented.  It’s a good piece and I reprinted the entire thing.  Monty at Ace of Spades HQ wrote it.  Here it is: An Upright Man Let’s try a little gedankenexperiment: Let us pretend that you …

The Euro

The Euro will end. It was a grand experiment. But it will end, and end badly. The population of Germany has come to the realization that they are paying for the excesses of the PIIGS(Portugal, Ireland, Italy, Greece, Spain). From …

Ignorance of Risk

Financial regulation goes to conference. We will see how the sausage makers turn out what they will trumpet as cutting edge financial regulation. Because two liberal Senators from Maine, and one new centrist Senator from Massachusetts voted yes, they will …

Financial Bill Passes Senate

The Financial Bill passed the Senate. Now it goes to conference with the House. It’s not the worst legislation Obama has passed. Obamacare wins that going away. It is the most irrelevant. Now a bunch of people will thump their …

Figure of the Day-367 DOW

Well, well, well, if you sold the market in the flash crash at the low you are starting to look good. Took a lot of heat, but you might have them by the balls now. The pros on the street …

Oh Christmas Tree, Oh Christmas Tree or Here Comes the Lard

As the Financial Regulation bill works its way through the Senate, it picks up fat. Politicians love to spend money. I thought this bill was to re-regulate financial firms. Instead, some Senators are putting pet projects unrelated to financial reform …

Sauerkraut Regulation

The Germans today unveiled a new strategy to combat what they feel is incorrect structure in the market place.  It’s a bureaucrats’ answer.  Bureaucrats don’t trust markets.  They think that they can manipulate them.  For proof, there is a litany …