Archive for October, 2009

Credit Market Overview
October 30, 2009
After yesterday’s about face erasing all of Wednesday’s rout and adding a few additional points to the SPX does it mean that Ken Chenault, CEO of American Express (AXP) was right all along when he said; “Today, while there is still reason to be cautious about high unemployment levels, we are… »

Credit Market Overview
October 29, 2009
If yesterday was the beginning of the end of one of the top-10 bear market rallies of all time there are many that will point to Burlington Northern’s (BNI) disappointing outlook as the straw that broke the camel’s back.
I think instead that it was news released by the National Retail Federation… »

Credit Market Overview
October 28, 2009
Ever since Matt Taibbi informed us that Goldman Sachs (GS) was actually “a great vampire squid wrapped around the face of humanity”, the press has pressed the issue with numerous articles and a chronicling of their every move including and possibly most notably, their nominally record compensation pool for this year. … »

Credit Market Overview
October 26, 2009
“It’s the push-pull between lots of cash looking to go into the market and concern about how stretched this move is.  That’s the schizophrenia you’re seeing in the market.”  At least that’s how Jon Merriman, CEO of Merriman Curhan Ford describes it.
Ned Davis Research said in a recent note that “They… »

Credit Market Overview
October 23, 2009
In attempting to figure out just why the market sold off like it was going to give Octobers of yore (or last year; whichever you prefer) a run for their money late Wednesday and before it was linked to an analyst making a comment regarding a major financial institution, (boring!) I… »

Credit Market Overview
October 22, 2009
Politics, it is said, makes for strange bedfellows. This has been proven over and over again as we have watched Uncle Sam take aim at straw dog after straw dog attempting to shoot the perpetrator of the debacle caused by his own efforts to de-Americanize renters and make heroes of homeowners… »

Credit Market Overview
October 21, 2009
Round numbers can be a tricky thing for markets.  On its previous run up, gold hit $1,000/oz. on 2/20 of this year and then retreated, making another near attempt in early June before shying away again.  If you include the one day close at 999.50 the day after its latest break… »

Credit Market Overview
October 20, 2009
For as many times as the pundits picked the bottom of the downward leg of what is yet to be determined as a “V”, “W”,  “wwww” or “√“ in the stock market there have been those calling a top since the spring.  These folks are now equally as frustrated their compatriots… »

Credit Market Overview
October 19, 2009
In keeping with the Monday morning ritual of taking a look at new highs & lows on the NYSE, Barron’s showed 802 for the former and 6 for the latter which gives us a ratio of 134:1.  A new high both in terms of the outright number of new highs as… »

Credit Market Overview
October 16, 2009
A good lawyer (apologies for the oxymoron so early on a Friday morning) will tell you there are three sides to every story; the plaintiff’s, the defendant’s and the truth.
This is easily translated into market speak as there is the way the bulls interpret the facts, the way the bears interpret… »