• The Stock Playbook 10/23/08

    Format: swf Duration: 4:00
    Posted to The Stock Playbook by Dave Dispennette on 10-23-2008
  • Association for Investor Awareness - Week of 10/23/2008

    In This Issue:

    It's Too Early For A Sustained Rebound
    But, There Are Finally Some Signs Of Relief
    What Everybody Knows Is Often Wrong
    Another Contrary Economic Outlook
    Cheaper Energy: The World's Biggest "Tax" Cut
    This High Yield Investment Looks Good
    The Bottom Line This Week

    Mother Market took pity on investors last week when she tossed a few points our way. Actually, it was more than just a few. The total for Monday and Thursday came to a whopping 1338. Since she took back "only" 937 points, the Dow and the Nasdaq ended the period up a welcome 4.8% and 3.8% respectively.

    When the closing bell finally rang on Friday and the week's gains were locked safely away, some of us let out a happy little "hurray." However, our killjoy number cruncher pointed out that with so many wild swings happening every week it was inevitable that the market would occasionally end on a high point. In other words, the bounce could have just been a random event. Rats!

    On Monday of this week the market jumped another 413 points, but it gave back 746 points on the following two days. Oh well, the mini-rally was fun while it lasted.

  • Chuck finally heads back home...

    * Chuck's thoughts... * US housing still a drag... * Rate cuts push currencies lower... * Yen rallies and is joined by some odd partners... ** Chuck finally heads back home.. Good day...Another big move up by the dollar and the Japanese yen last night. Really just another repeat of what we have been seeing each day of this week, dollar down, gold down, and oil down. And with the stock market falling dramatically yesterday, all of us on the desk were searching for something that was actually up yesterday. Our bond trader, Don Reis let me know that muni bonds rallied dramatically, along with US treasuries. So I guess investors are just continuing to park funds into the US fixed income markets. Chuck is headed back home this afternoon, after spending the past two weeks traveling the country with FX University. I'm sure he will be happy to get to sleep in his own bed again tonight, and will catch up on his rest tomorrow. He sent me the following note to share with readers....
  • The Stock Playbook 10/22/08

    Visit us at and let us help you navigate these tough markets. Format: swf Duration: 4:00
    Posted to The Stock Playbook by Dave Dispennette on 10-22-2008
  • Deleveraging pushes the US$ up...

    * Deleveraging continues to push $ higher... * Pound Sterling tumbles... * Canada cuts rates... * Argentina spoils appetite for emerging markets... ** Deleveraging pushes the US$ up... Good day... Wow, another unbelievable day/night in the currency markets. The dollar continued to run up vs. most of the currencies yesterday and last night as investors brought money back into the US. We continue to get calls from WorldMarket investors asking us what was pushing this dollar up, as all of the data seems to be negative for the US$. The only explanation which seems to make sense is the global deleveraging of investors. Here is as good an explanation as I can give. Over the past several years money was extremely cheap and investors took advantage of these cheap loans. Hedge funds, corporate investors, and even some individuals borrowed funds and placed them into higher yielding investments to earn the 'carry'. This occurred not only in the currency markets, but across the entire spectrum of asset classes. These investors were rewarded with incremental yields over 'cash' investors, and banks were more than willing to lend, so the amount of leverage continued to increase to absolutely absurd levels. Everything was fine until the housing market here in the US turned and losses started to show up on the books of some investors....
  • The Morning Call - 10/22/2008

    Economics This Week’s Data The International Council of Shopping Centers reported weekly sales to major retailers fell 1.6% versus the prior week and rose a paltry .9% on a year over year basis; Redbook Research reported month to date retail chain...
  • Beyond the Sound Bite: An Interview with Liz Ann Sonders

    My conversation with Charles Schwab's Chief Investment Strategist includes a recession call, thoughts on the lasting consequences of the credit crisis (most notably deleveraging), and sector weightings. The length of the interview is 12 minutes 45...
  • The Stock Playbook 10/21/08

    Just click on video below for our insight and visit for more investment ideas. Format: swf Duration: 3:00
    Posted to The Stock Playbook by Dave Dispennette on 10-21-2008
  • On The Economy And Active Management

    Recent economic reports continue to signal an economy that is spiraling into a recession. How deep and how long that recession may be is anyone's guess, but I think it's beyond question that a major slowdown is in our future. Of course, this also means sluggish corporate earnings, a depressed stock market and a lower demand for goods and services. With trillions of dollars of wealth now devoured by the subprime monster, the natural question is how to invest in an uncertain market. Fortunately, we have the answer for you as I will explain this week after reviewing some economic data. This is not an E-Letter that you'll want to miss....
  • Bernanke looks to spend some more of our $...

    * Bernanke asks for more $... * Credit markets start to thaw... * Iceland may get help from the IMF... * Goldman sees value in some currencies... ** Bernanke looks to spend some more of our $... Good day... The dollar moved higher yesterday as Fed Reserve Chairman Ben Bernanke urged Congress for another stimulus package. Yes, Bernanke wants to spend a few more of our taxpayer dollars to try and keep Wall Street afloat. "With the economy likely to be weak for several quarters, and with some risk of a protracted slowdown, consideration of a fiscal package by the Congress at this juncture seems appropriate," Bernanke told a congressional panel. Others at the Fed echoed Bernanke's gloomy outlook, saying that the global credit crisis will chill US economic growth well into next year. Bernanke is looking to Congress to send out additional stimulus checks in the hope that they will 'prime the pump' and get US consumers spending again. The govt. sent out about $100 billion in tax rebate checks over the summer to consumers, but consumer spending has struggled since then. Retail sales fell for three consecutive months through September. Bernanke says the moves to shore up the global financial systems seem to be working, but we now need to concentrate on getting the US economy growing again. "The stabilization of the financial system, though an essential first step, will not quickly eliminate the challenges still faced by the broader economy," he said. The FOMC which meets next week is expected to lower US interest rates to further stimulate the economy....
    Posted to Daily Pfennig by Chuck Butler on 10-21-2008
  • Aftermath

    In his award-wining book, “When Markets Collide”, incoming PIMCO CEO, Mohammed El-Erian makes the following statement: “…in contrast to past episodes of US economic slowdowns, emerging economies have two distinct secular forces...
  • The Morning Call - 10/21/2008

    Economics This Week’s Data The leading economic indicators for September rose .3% versus expectations that they would be unchanged. Other Housing data from southern...
  • The Stock Playbook 10/20/08 Debut Issue

    Enjoy, just double click on video below. Thanks. Format: swf Duration: --:--
    Posted to The Stock Playbook by Dave Dispennette on 10-20-2008
  • The Stock Playbook 10/20/08

    Double click on the video below and get a taste of what The Stock Playbook could do for you. Format: swf Duration: --:--
    Posted to The Stock Playbook by Dave Dispennette on 10-20-2008
  • Testing Video

    Hi Eveyone, I'm hoping to start providing you videos shortly with stock tips and more. This is just a test run to make sure I can get it all to work. Format: swf Duration: --:--
    Posted to The Stock Playbook by Dave Dispennette on 10-20-2008