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  • Whispering Campaign Begins To Get Traction.

    In This Issue.

    * Stocks fall is this Déjà vu?

    * Euro rallies, dragging the Scandis with it.

    * Australia prints a strong Retail Sales report!

    * Gold reaches for the stars once again.

    ...
  • S&P Throws A Cat Among The Pigeons.

    In This Issue.

    * Bonds, stocks & Currencies sell off

    * Gold & Silver rally on S&P announcement.

    * New Zealand CPI is weaker than expected.

    * BRICS make a statement regarding the dollar.

    ...
  • "Fat Fingers"?

    In This Issue..

    * Euro bounces off lows...
    * Stocks bounce off lows too...
    * Jobs Jamboree Friday!
    * Canada's jobs soar!

    Good day... And a Happy Friday to one and all! A Fantastico Friday for me, as I head to a weekend from work in the first time in a month of Sundays! Big news came across my desk for all us EverBankers and friends... Our Marketing Guru, Jason Coots, saw the delivery of his brand new baby boy yesterday... Welcome Sam Coots!

    OK... Front and Center this morning is all the hootin' and hollerin' about the stock market move yesterday... At one point it was down 1,000 points... That's right, I did not let my 'fat fingers' mess that up... However, someone on Wall Street apparently did, as they meant to enter a trade to sell 'millions' of shares of Procter & Gamble, but entered 'Billions'... That's Billions with a capital 'B', as Ronald Reagan used to say! Upon discovering the 'fat fingers' error order was restored... However, the problem here is that stocks were down BIG TIME before the 'fat fingers' error... It was a bad day a red rock for stocks......
  • Game On!

    In This Issue..

    * Risk Assets soar!
    * What's behind this stock rally?
    * Charts and fundamentals...
    * Aussie Consumer Confidence drops...

    Good day... And a Wonderful Wednesday to you! A total reversal of Friday's risk assets sell off was the soup du jour for Tuesday... This is beginning to remind me of a Wayne and Garth street hockey game... Here comes a car... Game off... Game on...

    So, as I just said, Tuesday saw the currencies trade right back to the levels they enjoyed VS the dollar last Thursday, before risk assets began to sell off on Friday. These are the types of trading patterns you normally see when the assets involved are getting ready for a break out... A jail break... Tonight there's going to be a jail break!

    OK, I'm not saying that the jail break takes place tonight, I just broke out in a song from the 70's... That's all... Seriously though, I hope we're seeing a return to fundamentals....
  • Spraying Round-up....

    In This Issue..

    * Industrial Production declines...
    * Stocks sell off, leading currencies down...
    * Indian election spurs a rally...
    * China stockpiles commodities...

    Good day... And a Marvelous Monday to you! Thanks to Chris for picking up the ball on the Pfennig Friday. I returned to St. Louis with a very swollen leg and foot from all that walking in Las Vegas. One of these days I'll learn, eh? Any way... A restful day with my feet up on Friday, and I was ready to go again!

    Well... As much as I dislike having to say so, because I told you this might happen... The currencies have given back some major ground VS the dollar since Friday morning. It's all tied to the fact that the euphoria going around the markets the previous week regarding stocks and the U.S. economy, came to a screeching halt last week. I pleaded and begged for the currencies to break this link to stocks, but it wouldn't / didn't happen and voila! What we have here is a failure to break the link, and now that there's a falling demand for stocks, currencies have tanked too... UGH!...
  • Shrove Tuesday!

    * No follow through on the Eurozone bond idea... * Mirror, mirror on the wall... * AIG to set record for losses... * Finding another Pfennig Reader! ** Shrove Tuesday! Good day... And a Terrific Tuesday to you! A Shrove Tuesday to boot! Shrove Tuesday you say with a tone of thinking that I have made up another word for a day? Yes... Shrove Tuesday! For Catholics in some regions of the world (Ireland originally), the day before Ash Wednesday is Shrove Tuesday... Or here in the U.S. it's Pancake Day! You see, long ago, pancakes would be served up on this day as a popular way to use up fat, butter and eggs before Lent got underway. So... Happy Shrove Tuesday!...
  • Fundamentals Rule!

    * Stocks fall 358 points! * Japan's inflation problem... * Profit taking in reals... * Buffett warns of stagflation... ** Fundamentals Rule! Good day... And a Happy Friday to one and all! Hopefully a Fantastico Friday too! It's the last Friday of June... Where did the month go? WOW! Next Friday, we'll be celebrating our nation's birthday... Can you believe that? The 4th of July? It just finally warmed up here in St. Louis, and it's already the going to be the 4th! Amazing... How the time flies when you're having fun! And Fun is what I'm having... With every day that passes, I get a little stronger, and another day further from the pain and problems of last summer... How could I not be having fun? OK... Well... Recall yesterday when I told you a Big Bank's chartist said the euro would top out at 1.5726, and that I hoped it would fly right by that? It did! It did! It did fly right past that! I love it when fundamentals rule! The euro has climbed to 1.5765 this morning as I write after spending most of the day yesterday taking liberties with the dollar. Another chartist said yesterday that the euro would re-visit the 1.60 level if it breached 1.5785... So, we've got that going for us, eh?...