Monday, June 23, 2014

Monday morning news

Here are some points to ponder:

Ritholtz - the market is frustrating the majority. Quote:
Economists are unhappy because they do not know what to believe: this month’s forecast of a strong economy or last month’s forecast of a weak economy. Technicians are unhappy because the market refuses to correct and gets more and more extended. Foreigners are unhappy because due to their underinvested status in the U.S., they have missed the biggest double-play (a big currency move plus a big stock market move) in decades. The public is unhappy because they just plain missed out on the party after being scared into cash after the crash. It almost seems ungrateful for so many to be unhappy about a market that has done so well. … Unhappy people would prefer the market to correct to allow them to buy and feel happy, which is just the reason for a further rise. Frustrating the majority is the market’s primary goal.
Sounds descriptive of today's market, eh? That was written in 1989. How'd the market do in the ensuing ten years? Have you shut up and bought SPY yet, Barry?

New Deal Demoncrat - consumer credit is not a leading indicator, dumbass. Where NDD points out that Joey the Weasel is a dumbass for thinking consumer credit is a leading indicator when in fact it's a lagging indicator.

Liz Ann Sonders - on credit and debt. Lots of great charts from Liz Ann Sonders, who you should read religiously, not just because she's a babe.

Humble Student of the Markets - this turnaround in gold stocks is nothing. Because there's no inflation, he says. Sorry guy, but Shaoul says there is, and he's smarter than you. In any case, who cares? The turnaround in gold stocks could just be because of June-September seasonality, and if so, it's a guaranteed 50% win.

BI - Wall Street thinks inflation is coming. I don't care if it really is, I just want to be ahead of Wall Street on this play, and thanks to Shaoul, I am.

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