Financial Market Report for April 27, 2011
1) … ETFs falling lower today
China Small Caps HAO
China Materials, CHIM
China Financials, CHIX
China Energy, CHIE
China Technology, CQQQ
China Real Estate, TAO
2) … Commodities falling lower today included
Base Metals, DBB, Agriculture, JJA, Copper, JJC
3) … Stocks of interest
Real Estate: Industrial REIT: First Industrial Realty Trust, FR
The Morgan Stanley Cyclical Index: Basic Material Component: Freeport McMoRan Copper & Gold, FCX
Annaly Capital Management, NLY
Yanzouh Coal Mining, YZC,
Chart of World Stocks, ACWI, VT, appears topped out
Junk Bond, JNK,
The chart of Seigniorage, World Stocks relative to World Government Bonds, VT:BWX, communicates the exhaustion of quantitative easing and the failure of seigniorage of the world’s central banks.
4) News and Editorials courtesy of Between The Hedges.
Wall Street Journal Medicare As We've Known It Isn't An Option. Paul Ryan's premium support plan is preferable to Obama's rationing panel. My opinion is that a global financial collapse will require appointment of medical oversight payment czars for both Medicaid and Medicare.
Economic Observer China's top economic planning agency has arranged to meet with several large domestic coal producers this morning at which the government will ask the companies to "appropriately" control price increases, citing a person familiar with the situation.
I believe that it is best to sell out of silver bullion, SLV, and buy gold bullion, GLD.