Monday, November 3, 2014

Some Monday news

Here's some stuff:

New Deal Demoncrat - nothing spooky in the weekly indicators. The US is doing fine according to the real data, which your TA blogger buddy never bothers to consult because real data puts the lie to his hard money preconceptions.

BI - BofA sell side indicator is contrarian bullish. Quote:
Wall Street strategists are more bearish on stocks than they were at the March 2009 lows.
Yes, Wall Street Whitey is an ignorant moron. Thanks for playing, now go home.

Bespoke - bullish sentiment up to 68%. Meanwhile, Bespoke's readers are strongly bullish. Probably because they get fantastic empirical analysis from Bespoke, while Wall Street Whitey only ever pulls his head out of his ass long enough to listen to ignorant Republican talking points from Joe Kernen.

Calculated Risk - ISM manufacturing index up again. Therefore sell? Are we supposed to sell all our stock and go to cash when the US economy is continuing the grow? Is that how it's done?

Gavyn Davies - BoJ opens the floodgates. Quote:
This is a tall order, but it is not impossible. A sufficiently determined central bank ought to be able to restore inflation to an economy, and that is the key ingredient of what is needed. But there are huge risks. If inflation expectations were unexpectedly to rise too rapidly, the strategy could end in uncomfortably high inflation.
But "uncomfortably high inflation" didn't happen in the US, so it won't be happening in Japan either.
If this shows any signs of succeeding in Japan, surely there will be irresistible pressure on the ECB to follow suit. If however the BoJ experiment fails, markets may become very sceptical whether there is any escape route from deflation in the euro area.
Yabut the ECB won't do anything because Germany wants massive deflation. Thanks for playing, go home.

Bloomberg - China stocks have been going up, you know. I'm totally down with EM cycle theory, my only doubt is whether China still counts as an EM. However, that's one heck of a big doubt, considering how big China's economy is.

Mark Dow - let's pull a target price for gold out of our ass and pretend we're writing serious commentary. Seriously? There is zero real data here, outside of fund flows. You're basing your target on zero data.

Calculated Risk - Larry Kudlow is a moron. First NDD, now Bill McBride? I like this new trend of mocking people that I've started in the blogosphere.

And by the way: "Wall Street Whitey" is my catchphrase, not IKN's. IKN just calls people from up here "dumb gringos".

OK, sometimes he calls them "American war-mongering imperialist genocidal pig-dogs", but mainly it's just "dumb gringos".

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