From Slipstream Trader Murray Dawes:
“The US markets had a huge rally overnight on the back of some fudged housing figures. Whether this is the beginning of the Santa rally remains to be seen.”
All Posts Tagged With: "Murray Dawes"
Is There Hope for a Santa Rally?
Nero, Bonaparte and Hitler Walk Into an Economic Union
The latest news out of Europe is that British Prime Minister Churchill Cameron refused to surrender sovereignty to the rest of the EU. Those on the continent have tied themselves to the Euro like tree huggers saving the forest.
The Stock Market’s Law of Unintended Consequences
When it comes to the stock market you’re usually right until you’re wrong. Winning streaks are rare. But Slipstream Trader Murray Dawes has been on fire recently. Murray’s been persistently bearish, even as each false rally has sucked more investors in. He’s been calling this downdraft correctly for months.
November 24th, 2011 | The Daily Reckoning | 2 comments | Continued
Germans and Greeks Buying Gold
Ok, so maybe that is a bit romantic, but remember that it’s the Germans that are buying the gold. Enough of them know what is coming in Europe. It stands to reason that Merkel does too.
May 29th, 2010 | Nickolai Hubble | 22 comments | Continued
Why is 5,000 a Key Psychological Level?
By the way, is that phrase “key psychological levels” just a load of horse pucky used by analysts and commentators to try and explain things they don’t understand?
April 8th, 2010 | Dan Denning | 2 comments | Continued
Reality Sovereign Debt Finance Theatre
The European monetary family is in crisis. It meets on March 25th and 26th to discuss whether to kick Greece off the island (survivor style) or to intervene and save the prodigal son. The problem, from a German perspective, is that Europe is full of prodigal children. To save Greece means to save the rest of the economies troubled by rising public debt-to-GDP ratios.
March 19th, 2010 | Dan Denning | 1 comment | Continued
The U.S. Dollar is Not the Euro
As the main rival (amongst paper currencies) to the dollar as a global reserve currency, the euro’s coming collapse has to, almost by definition, equal dollar strength. There just aren’t that many more liquid alternatives for large institutions and central banks.
February 19th, 2010 | Dan Denning | 4 comments | Continued
If Market Keeps this Way, There May Be More Beaten Down Stocks
It’s quickly becoming a market where you’re worried more about the preservation of your capital rather than capital appreciation or even dividends. Late last night we read the latest monthly report from Australian Wealth Gameplan, edited by Kris Sayce. Kris has come up with a way to hedge against the falling Aussie dollar and listed all the collateral damage that would occur if the currency falls more.
February 9th, 2010 | Dan Denning | 11 comments | Continued
Debt Problem Has Not Gone Away
Banks have recapitalised, making up for some of their losses from 2008 and 2009. But you still have a financial system addicted to debt and leverage. Investors have bought into the recovery story, though, and taken a punt on shares at just the time they ought to be reducing their allocation to shares (in our estimate). Why?
January 29th, 2010 | Dan Denning | 12 comments | Continued
U.S. Home Sales Up Because of Congress Tax Credit
In November, first home buyers taking advantage of the tax credit made up 50% of demand for existing homes. In December, it fell to 43%. Those two months were supposed to be the final months of the credit. The December decline shows that most people who intended to take advantage of the credit had already locked it in.
January 27th, 2010 | Dan Denning | 0 comments | Continued
Ratings Agencies Put Spain on Negative Debt Watch
Spain’s debt has grown from 36% to 66% of GDP in the last two years. This is thanks to a budget deficit of 11.2 per cent this year, and will still be around 10.2 per cent for next year.
Not only that, but the unemployment level in Spain is heading for twenty per cent in 2010. Already a staggering 43 per cent of people under the age of twenty five are out of work.
December 10th, 2009 | Dr. Alex Cowie | 4 comments | Continued
Speculators and Chinese Firms Accumulating Australian Resource Companies and Commodities
And while China and America bicker over currencies, Chinese firms are scrambling to buy real assets. And while Aussie banks source foreign borrowing to lend in local real estate, Aussie mining firms go begging for bits of capital that would bring world-class ore bodies (and key strategic resources) into production…by local producers and owners.
November 19th, 2009 | Dan Denning | 1 comment | Continued
Dollar Rally the Sort of Thing that Will Lead to Correction in Gold Price
House prices were up 6.2% in the third quarter over the same time last year, according to data from the Australian Bureau of Statistics. House prices in the capital cities are surging. Stocks are surging. Gold and oil are surging.
November 17th, 2009 | Dan Denning | 5 comments | Continued
A Trader’s Market or an Investor’s Market?
Is it a fragile little market after all? You can’t really tell by appearances. For example, the world’s largest bond insurer (MBIA) fell 27% in New York trading. It reported a $727.8 million loss in insured credit derivatives. Yes…those credit landmines are still out there.
But the proper question – if you’re sitting on the fence about this move – is how broad the rally is.
November 11th, 2009 | Dan Denning | 2 comments | Continued
The Fed Has Put a Rocket Under the Market
The unconventional wisdom is that the Fed has learned nothing from the last bubble – or is so scared of deflation it’s willing to gamble on another bubble in asset prices. The trouble , the eventual bust in asset prices has to be reckoned up. And the Fed, along with all central banks who key off the Fed’s policy, are just kicking the can down the road, hoping asset values improve.
November 10th, 2009 | Dan Denning | 7 comments | Continued
