Perception Shift

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As expected the Fed did NOT raise rates, but the market reaction was unusual and unexpected. There are perhaps bigger problems. I think some of those problems reside in the Margin arena and I believe we will see MORE, not less, accommodative changes from both the Federal Reserve as well as margin rations in the Read more…

Ambiguity

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As the market remains volatile heading into the one of the most anticipated FOMC meeting since the crisis we are left with more ambiguity than ever before. The Jackson Hole “Economic Policy Symposium” where the central bankers, which traditionally has brought us more comfort through certainty, became a convolution of economic rhetoric. Ambiguity Jackson Hole Read more…

China’s Yuan

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The market hit some of those intraday support lows, but what was important was how we closed. We saw volume pick up and a strong rally to get above those key levels and that is a hopeful sign that we could see continued support in here. It is not over yet and I suspect we Read more…

What a difference a day makes!

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I have been traveling on business for the last few days, so I apologize for missing the daily commentary. While a lot may have SEEMED to have change, nothing really has. The latest jolt to the market bringing pressure came from an ASSUMPTION and nothing more. What a difference a day makes! Just last Thursday Read more…

Yellen Speaks!

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I have been pointing out, rather frequently, that our nation’s economy (and the rest of the West – Europe and Japan) is becoming ever more entwined with the Federal Reserve’s monetary policy. The media is still fixed on this “extraordinary temporary measure” and that the Fed will soon be raising rates because the economy is Read more…

Fed Minutes Amendments

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The market continues to flirts with new highs, but unable to charge into a break-out rally. The Fed minutes were more proof the Fed will NOT be raising rates, yet many read something completely differently out of it (I am not sure how). Greece continues to be a European headache, while we get weekly jobless Read more…

FOMC Changes?

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The change to the FOMC statement yesterday, sent the markets lower to their support level. Without the press conference and only the FOMC statement, the market participants read into every word and change. It wasn’t hawkish and it wasn’t dovish, it was just different and without clarity. FOMC CHANGES Bowie’s song Changes keeps ringing in Read more…

Road to Socialism

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The economic landscape in the U.S. is not nearly as robust as we are lead to believe. This is creating some concerns after a strong market rally, combined with expectations that the Fed will start raising rates. The 10-year yield is heading below 1.8%, the dollar has rallied, and volatility in equities is starting to Read more…

ECB Fires Salvo

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2015 will be the year of the Dollar and other currencies as I have stated before. We have already seen the dollar rally strongly, the Swiss Franc decouple moved the currency 15% in minutes, and this morning the ECB is positioning their new QE launch. You can’t help but wonder if the economies are as Read more…

Got Growth?

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The pre-market futures are under serious pressure this morning on the disappointing retail holiday sales. Who would have thought? That was sarcasm, because we all should have known. The Market Preview has covered in detail the sales during the holiday and try as I might I really couldn’t find any growth (other than online – Read more…

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