Monthly Archives: June 2013
Building Up Homebuilders
I moved to Sacramento back in 2002, just as the housing market was reaching its peaks. Back then, I had no doubt in my mind that I was destined to be a real estate agent. Perhaps this stemmed from routine tours of fancy model-houses with my family. As we diligently searched for the perfect home, […]
Golden Losses
I could never be a gold bug. Don’t get me wrong…I respect them for having the courage to back up their convictions. But this is one conviction that’s just too expensive. Real quick, here’s where gold’s at: It’s becoming harder and harder to watch gold bugs change their collective theses. And I’ll admit – I […]
Where We’re At
First, a little heat-map to display the magnitude of de-leveraging that happened yesterday (note the dollar’s little booze-induced party in the bottom left-hand corner). Now, take two steps back from yesterday’s crime scene selloff, and you might see what I see – nothing has changed. The economic data coming out is all still modestly positive. […]
Seeing Red
Good Morning. It’s mostly sunny, 72 degrees with a light breeze. What a beautiful day for a massacre. Stocks are down. Bonds are down. Gold and silver are getting beaten down like they stole something. Tack on oil and an impressive list of other commodities. Oh, and a bunch of emerging market currencies – they’re […]
Waiting on the Word
Traders are sitting on their hands. After 6 straight days of 100+ point volatility, we’re in the eye of the rumor-mill hurricane. It’s lunch time and the market’s low volume is so peaceful it almost upsets me. Big picture, I’m looking at five consecutive weeks of bond ETF selling, with further cash outflows from mutual […]
Land of the Setting Sun
Japan is a whisker away from bear market territory. After PM Abe’s lackluster speech, the Nikkei shed a few more percentage points. The Japanese index has taken a volatile ride that’s extended to all corners of the global markets. Is Japan’s current market misfortune a return to the norm? That depends on what you think […]
CentricFringe 