EL-GRECO

21 Comments

    • How Bernanke Stunned Congress with the Truth [view article]
      Bloggers have known all along how to fix the problem? And in the space of two and a half years since he took office, Paulson is responsible for years and years of regulatory neglect in the financial system? OK, lets make the writer of this blog the new Fed chief...he seems to think its a cinch to fix the global financial system. Sep 20 09:11 PM
    • What's Behind the Slide in Oil and Commodities? [view article]
      Great observations. However they are short term movements and one can't yet conclude that these factors have set new trends. China has been raising interest rates over and over for the last three years. they still have rising inflation and the only reason they can do in the first place is because they have 10% growth every year so far. Second, demand destruction has to be global for the oil price to have a meaningful and sustainable reversal. There is no evidence yet that developing nations are going to change their aspirations to own cars and to mimick the aspirations of the typical western consumer. Cutting government subsidies for petrol in these countries could conceivably create the desired global demand destruction. Time will tell. For the moment energy companies are some of the best performing companies anywhere and the drop in crude to $100-$120 might even suit them better. Jul 25 07:38 PM
    • Oil Bulls' Biggest Nightmare: A Stronger Dollar [view article]
      from JT

      quote
      It is ALL manipulated now. The PPT has its fingers into ALL market, tipping over TA dominoes in commodities (gold and silver mainly, but on certain days ALL commodities) and buying enough futures in the DOW to break thru resistance levels to create contrived "rallies"...... Hail Mary rallies at the end of the market day. But their main intervention has been in the gold and silver markets...the true monitor of the value (or more accurately the worthlessness) of our fiat currency. There is no "strong" dollar...just suppression of the prices of gold and silver...and mainly on the COMEX, aided by the Fed's/the Cartel's co-players/co-conspira... on the London exchange and the TOCOM (Tokyo). The rest is just talk based on the lies of the MSM.
      unquote

      I have often read this sort of commentary elsewhere, and anyone who follows market action intraday must have noticed all of the activities mentioned by JT; end of day rallies, persistent support around critical levels of the indicies etc.. I understand JP's disillusionment with govt; I guess we all are, and powerless to do anything about it. But why is he upset the market is being artificially supported? Good stock picking still earns you a return above the index, whilst articifical support of indicies prevents 1929-like occurences. The dollar? sure, it's weak. But 10 years ago the euro was 80 US cents, and if you look at various currency relationships over 50 years or so, they appear to have very long cycles of strength and weakness relative to each other; it's true particularly with the majors such as the yen, sterling, and the euro (using the DM as a proxy prior to the euro). Overall its true that all currencies are losing value but that's not the work of one central bank alone.       Apr 28 05:51 AM
    • Henry Paulson Begins to Trash His Own Reputation [view article]
      This is the same plan that Schumer praised, right? the plan he said was a great start but didnt go far enough? Apr 01 04:50 PM
    • The (Abandoned) Uptick Rule and Blaming the Shorts [view article]
      We know the uptick rule doesn't affect markets that go up, that's why the uptick rule didn't get noticed last summer. By observation though, it's hard to argue that the lack of uptick rule hasn't had an affect on the markets in an uncertain environment like the one we're in now. And i'll bet the people who collect fees from trading just love it; indeed they probably had a hand in persuading the authorities to lift the rule in the first place. But finally, it doesn't matter what we think about the uptick rule; if its good bad or unimportant, who cares. The fact is, thanks to a plethora of instruments like double short ETFs and unrestrained shorting opportunities, the stock market is becoming more and more casino-like, breeds gamblers not investors, oh and by the way, the gamblers are using borrow money and borrowed equity to play... . It's a personal view but great stock picking such as identifying market mis-pricing is the real skill, but... each to his/her own. Apr 01 04:31 PM
    • A Historic Nine Days for the Federal Reserve [view article]
      You omitted to mention that Roubini is pretty much fully invested and has been all through his ultra bearish commentaries. Watching what they do is a better idea that hearing what they say. Mar 26 08:04 AM
    • 1970s Style Stagflation? I Don't Buy It [view article]
      I thought M3 or its equivalent (is it MZM?) was the true measure of money supply growth. Have you tried the excercise with the M3 curves and what result would it give? Why is the M1 curve a better indicator of whether staglation is an issue or not? Thank you. Feb 22 07:02 AM
    • Decoupling Thesis Intact [view article]
      Inless you think sovereign wealth funds are dumb money, then you must agree that they are seeing either value or opportunity in the US. Feb 16 04:39 PM
    • Stimulus Plan: We're In The Money? [view article]
      Herb, if one of your children borrowed $10 from you and somehow managed to incur $100 of debt at the sweet shop they couldn't pay for, how would you resolve the problem? Feb 16 03:22 PM
    • The Asymmetry of Emotion and the Uptick Rule [view article]
      The press have been conspicuously silent about this rather important point. Who benefits from higher volatility? Surely it's the big brokers, hedge funds and the market makers. Stability in markets is great for buy and hold retail investors, but perhaps it also makes retail investors look too good against the performance of hedge funds. Stability in markets its boring for the media, which likes to portray the market as one big casino. Perhaps all of these reasons are why no one talks about the removal of the uptick rule. Jan 28 07:03 AM
    • The CNBC-PZE Fiasco [view article]
      I'm glad you brought this up because clearly channels like CNBC promote the short term view and are probably most useful to day-traders. Clearly, CNBC had a key role in the Nasdaq bubble hype 7 years ago by inviting every Tom Dick and Harry to come on their shows to balatantly hype stocks in a dishonest manner. In a milder form, they continue to do the same today, stoking up greed or fear and then appearing to try to take the opposite side to temper the mood they they have had a hand in creating. In their defense, they do also have some of the best commentators appearing regularly, so we are stuck with the need to turn the channel over to Bloomberg on a regular basis in order to get plain old news without noise while also tuning into the characters on CNBC that we like to watch. CNBC is definitely not a one-stop channel, it needs one to filter out the considerable junk that comes with the good stuff. Luckily Bloomberg is there to offer the sobre alternative when CNBC's circus gets too loud. Jan 11 05:04 AM
    • My Ten Predictions for 2008 [view article]
      Thomas, you're a grizzly old bear!..<g> this is indeed a possible scenario, only a little too negative. You assume the Fed and consumers will sit back and let all this happen without doing anything except drop rates (the fed) and sue banks (the consumers). c'mon Thomas, there's more to human ingenuity than that, surely? Dec 27 04:00 PM
    • The Inevitable Derivative Meltdown [view article]
      I suppose Mr Ruggiero has sold all his currencies, stocks, bonds and properties and now pays for his groceries at the supermarket with gold sovereigns? Or maybe he has become a farmer in preparation for the coming catastrophe... Dec 26 05:17 PM
    • Money Supply Growth? It's Much Worse Than That! [view article]
      so, presumably the gentleman who wrote this article has fully sold his us dollars, us treasuries, and us stocks? where is he invested and in what currency? Dec 23 08:12 PM
    • Sliding Dollar Turns U.S Into World's Discount Mall [view article]
      Enter your comment hereWhy is it surprising that the dollar is where it is? It has been bombarded by negative propaganda for the last 3 years... If only the same level of propaganda were accorded to the spectacular rise in US exports this year as has been accorded to the deficit, people, investors, might have a slightly more positive view of things. It is a sad possibility that the stock market which is the obvious alternative to wealth creation to the now defunct property market should be so vulnerable to speculators (see oil price and the dollar) and rogue corporate practices (see banking and mortgage execs). If we do get a recession, it's coming thanks to them.
      Nov 08 06:30 AM
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