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  • Election Day!

    * The winner is... Deflation! * Trading theme in place... * RBA cuts rates 75 BPS! * Manufacturing collapses! ** Election Day! Good day... And a Terrific Tuesday to you! It's Election Day! One more day of all that he said, she said, no I didn't, yes you did, aggravating election advertising! That's it! We're finally finished with all of it! Thank Goodness it's Election Day! TGIED! This will be the end of another of the things that's keeping the fundamentals in the back of the classroom. All we'll have left is the credit squeeze... Unfortunately though I feel like we're going to have to live with that one for some time to come! There are signs that things are loosening up, but it's a far cry from what should be considered as "normal" in the lending arena! As long as the credit squeeze remains in place and on the minds of traders & investors everywhere, we're stuck with the Trading Theme of 2008... Well, let's see, it didn't come into play until late July, so it should be called the Trading Theme of late 2008 and 2009....
  • Rate Cut Week...

    * Mixed bag o' data... * Trading theme in place... * election tomorrow... * Consumer Spending collapses! ** Rate Cut Week... Good day... And a Marvelous Monday to you! Welcome to November! For almost 20 years, November was my least favorite month, cold gray days, dead looking trees, bad memories of the month, and all that... But I just don't get all involved in that stuff anymore, as my different outlook on life tells me that every day is a great day, and months just contain great days! OK... On Friday, we saw more and more of the same trading theme, and in the overnight markets last night, more and more of it again! And Carry Trades are back for the moment anyway, as stocks rebounded late in the week to end the month with a brighter outlook than they had earlier in the month. But, in my view from the cheap seats, this stock rebound is much like what they call in the markets, a dead cat bounce, (OK no animals were hurt here!) which means... That stocks are going nowhere, but bounces can still happen. I say that stocks are going nowhere, and I'm not even your last choice as a stock jockey... I just survey the economic horizon and see a deeper recession than we are currently experiencing, and a "spent" Consumer, which is going to lead to awful earnings for Corporations, and thus stocks not going anywhere......