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I've noticed Mondays have been very strong lately; the past few weeks government officials worldwide reiterated stimulus, money printing, and more stimulus - first in the G20 (2 weekends ago) and then in Asia (last weekend). But then I thought back and it seemed like every Monday we seem ...
Other
Let me take you back to a time... a simpler, gentler era known as 2006. Money was easy, banks were giddy with their chance to throw dollars in every direction.
Let me take you forward 3 years. Replace the words 2006 with 2009, and banks with US taxpayer. We not only have not ...
Government
Housing Market
Speaking of a narrowing of the market, about 4 weeks ago many of our positions began breaking below key moving averages ... we mechanically began culling them and moving into cash. Then within a week the large caps broke down (just for a week mind you) and the S&P 500 broke the 50 day ...
Other
Since that surge on Monday this market is really scuffling and providing very little opportunities from either the long or short side unless you are an extremely short term oriented daytrader sort. We're essentially in a holding pattern circling the airport... it is just unclear if this is ...
Stocks
Rough day at the office for Tim Geithner
2 very interesting videos - whatever side of the aisle you are on, it sure is interesting to watch. Please note, I did NOT write these titles for the videos - they are from the youtube user.
I have never seen Geithner so agitated... I almost ...
Government
Timothy Geithner
One of the most powerful men in the United States, Bill Gross, has put out his monthly letter and its a doozy. [ Feb 21, 2009: Fortune - Is PIMCO's Bill Gross too Powerful? ] Nothing new to FMMF readers, but when the most respected of investment managers start waving the bubble flag, it's ...
Government
Bill Clinton
Pimco
Risk Management
Aside from E-House Holdings (EJ) which completely fell flat on its face, one of the best earnings reports of the past few weeks was Ctrip.com (CTRP) . Unlike EJ, the stock gapped up after earnings and tacked on a bushel of points. Today the stock has come back and filled it's "gap" ...
Other
Despite countless monies spent by government to manipulate the housing market upward, [ Mar 5, 2009: WSJ - Mortgage Bailout to Aid 1 in 9 Homeowners ] we have reached a new threshold in our "recovery".... for the first time the number of homes in delinquent ...
Stocks
Foreclosure Crisis
Housing Market
I am just being mechanical and conservative here and selling out the index longs (TNA & SPY calls) bought Monday on the breakout over S&P 1100 as we fall back below it. Could be a head fake - we never know until after the fact, but we can always re-enter on a bounce back over ...
Stocks
CSI 300 Index
American Greetings
I keep looking for something that marks at least an intermediate term top in gold, i.e. a "magazine cover" indicator aka when everyone is on the same side of the trade and even your barber starts talking up gold stocks. This doesn't mean the thesis is not correct in the long run, but ...
Commodities
Gold
John Paulson
Hat tip to Paul Kedrosky for this eye opening chart. The source data can be found here but as they say a picture is worth a thousand words; clearly there is a localized depression in the metro Detroit area.
[click to enlarge]
As you view in shock and awe, I'd also like to ...
Other
*deep sigh* Just another day in Rome...
I truly wish those of us who have been warning about this impending mess could get tax exclusions from our wages to be raided for the bailouts that are to come. I do want to make a caveat since I've made the FHA implosion my personal Roubini / Schiff ...
Stocks
Housing Market
I am having a frustrating time with E-House Holdings (EJ) ; after we bought back a large exposure yesterday morning following a stellar earnings report; the stock has done nothing but sell off. I am confused by the reaction but the stock has been weak for much of the past month. ...
Stocks
Citi Holdings
All eyes microchips seem pointed at S&P 1100. As we wrote Monday during the morning surge:
I hate to use the word "resistance" anymore since all resistance has been futile so maybe we'll use "resting point" from now on. I'll start looking at the next "resting point" for the ...
Other
I have an email out to the originator of this list, Eddy Elfenbein of Crossing Wall Street , to see if any parameters/exclusions were used, however despite a lost decade in the stock market for the casual investor [ Feb 5, 2009: Mutual Funds Have Tough Decade ] [ Mar 26, 2008 - WSJ : ...
Other
Below is a guest post, reprinted with permission of author Vitaliy Katsenelson who writes often at Minyanville.com . I don't have as much time to read the site as I used to, but he is definitely one of the more thought provoking writers at the site.
If you are new to FMMF , I ...
Stocks
I see a lot of extended charts out there as we move into what seems like day 82 of consecutive upside, along with some bond fide breakouts. While we should only be so lucky to catch another Potash (POT) , one chart that caught my eye last night was Freeport McMoran Copper & Gold (FCX) ...
Commodities
Copper
Freeport-McMoRan
Gold
Much like Hugh Hendry, I can watch to Marc Faber videos all day even if I did not agree with a thing either fellow said. They just have an entertaining spectacle about them. Hence we must devote 1 post a month to Mr. Faber. I am not sure what to make of today's video - the ...
Commodities
Gold
Ben Bernanke
Barring a nasty reversal in the last 45 minutes, today is a big win for the bulls. Support of S&P 1100 has been held; a major move up is being consolidated with almost no pullback at all. Stocks are simply churning before making the next move (up!) - that's how it appears at ...
Other
Ben Bernanke
Just something to keep your eye on as your politicians promise you that the US will be the world leader in green tech jobs. In fact they have to layer countless more debt on your children and grandchildren for temporary jobs, to make this dream come true. Most likely this promise ...
