What Is the Deal with Steel Production and Prices?

Last week, I noticed media headlines screaming the horrible news that “Crude steel output in 2009 to hit lowest level in 40 years.” As I searched for the direct source of this quote from Japan’s Ministry of Economy, Trade, and Industry (METI), I stumbled upon its “Preliminary Report on Iron and Steel, Non-ferrous metal, and … Read more

Which Contrarians Are Correct About the Stock Market?

When everyone is a contrarian, no one is a contrarian. I consider this a corollary to the famous quote from Humphrey Neill: “When everyone thinks alike, everyone is likely to be wrong” (from a book I really enjoy but inconsistently apply “

VXX Attempts Another Bottom

The VXX is an ETF that “offers exposure to a daily rolling long position in the first and second month VIX futures contracts and reflects the implied volatility of the S&P 500 index at various points along the volatility forward curve” (from Yahoo!Finance). This means it offers a method for placing bets on the direction … Read more

Adding to Holdings in TIP

I know it seems strange that on another day when it seems like stocks are destined for infinite glory that I am adding to my existing holdings in TIP, the iShares Barclays TIPS Bond Fond (TIPS = Treasury Inflation-Protected Securities). I also remain overall bearish so a steep correction in the stock market will probably … Read more