ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Cash for Clunkers costs taxpayers $24,000 per car A total of 690,000 new vehicles were sold under the Cash for Clunkers program last summer, but only 125,000 of those were vehicles that would not have been sold anyway (tags: automotive govt_spending) Robert Reich: Why the Dow is Hitting 10,000 While Everyone Else is Cutting Back … Read more
Creative Accounting Resurfaces in Tight Times Corporate balance sheets may be showing signs of the wear and tear from the prolonged U.S. recession as accounting irregularities are starting to surface at growing numbers at U.S. companies. (tags: earnings fraud) Q&A: Economist Woodford on Fed and Rate Expectations Interview with Michael Woodford, the John Bates Clark … Read more
''Cash on sidelines'' less than investors anticipate: Goldman Investors could be disappointed if they anticipate tons of money waiting to get back into the stock market, since ''cash on the sidelines'' is much less than estimated, Goldman Sachs analysts said. (tags: money_market stock_market) FT.com – Stimuli can be safely removed Policy makers will therefore soon … Read more
The current correction has produced a LOT of intriguing charts. The Brazil Index Fund ETF, EWZ, is certainly one of them (shown below). EWZ suffered its largest one-day drop since March, and it has now completed a roundtrip for its Olympics-driven rally. EWZ is now already down 12% from its closing 14-month high just last … Read more
It turns out that the lower lows I noted in T2108, the percentage of stocks that are trading above their 40-day moving averages (DMAs), were indeed leading to at least one more lower low. T2108 fell dramatically today, from 48% yesterday to 23% today. This breaks the July lows as well as the series of … Read more
Mortgages – Homeowners Walking Away – NYTimes.com A RECENT study suggests that most homeowners have qualms about abandoning a mortgage that they can afford to pay, even if it straps them to an investment that’s unlikely to pay off anytime soon. (tags: housing mortgage default) Pound Is Poised for Goldman Rally Not Helping Brown The … Read more
Atlanta retail foreclosures part of troubled economy | ajc.com …economic conditions‚ a lengthy recession that has hurt retailers as much as anyone‚ are part of the formula that is making retail foreclosures a new part of the economic landscape in Atlanta. According to several retail experts, banks are beginning to foreclose on retail projects as … Read more
John Lewis: 4-year-olds are getting tax credits for buying homes | Political Insider It’s more than passing strange that, in the U.S. Senate, Johnny Isakson of Georgia has been pushing an expanded tax credit for homebuyers while, in the House, U.S. Rep. John Lewis of Atlanta is examining abuse of the same. (tags: housing fraud … Read more
It's Time to Raise Rates, Ben at SmartMoney.com IT'S TIME FOR the FederalReserve to stop talking about an "exit strategy" and to start implementing one. (tags: Federal Reserve,interest rates,recovery,U.S. dollar) Why Barnes & Noble May Have a Kindle Killer-Minyanville Book retailer and major Amazon competitor Barnes & Noble (BKS) will be unveiling its own e-reader … Read more
London house prices surge past 2007 record high Property asking prices in London have broken through the record high set in November 2007 as the drought of homes for sale around the country continues to distort the market. New research out today shows that the average asking price in London jumped 6.5% to £461,157 in … Read more