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Bubbles are followed by echo-bubbles, and the bursting of the second bubble ends the speculative cycle. If we have learned anything in the past 20 years of mass...

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  • When The Current Housing Bubble Finally Bursts?
    By on May 27, 2015 | No Comments  Comments
    Bubbles are followed by echo-bubbles, and the bursting of the second bubble ends the speculative cycle. If we have learned anything in the past 20 years of massive asset bubbles and equally massive declines when the bubbles finally pop, it’s this: those caught up in the expansionary phase of t...
  • Housing Recovery: Real Or Memorex?
    By on May 26, 2015 | No Comments  Comments
    There are probably quite a few of you reading this article who do not remember the old“Memorex” commercials when “cassette tapes” were THE recording technology of the day. It was yesterday’s release of the housing starts data that reminded me of that slogan -“Is ...
  • The End Is Near, Part V: Paying Dividends With Borrow...
    By on May 24, 2015 | No Comments  Comments
    A recent Goldman Sachs report explains where this year’s stock market profits (should there be any) will come from: Buybacks and Dividends All That’s Left in S&P 500, Goldman Says (Bloomberg) — The $1 trillion that U.S. companies are on track to return to shareholders this year will const...
  • Gold’s Primary Driver Bullish
    By on May 24, 2015 | No Comments  Comments
    Gold has been fairly volatile so far this year, seeing plenty of big daily surges and selloffs.  But with all these largely netting out to the sideways grind of recent months, gold’s price action has been frustrating for bullish and bearish traders alike.  Gaming gold in these strange central-ba...
  • SPX Snapshot: A Modest Loss on the Smallest Trading R...
    By on May 23, 2015 | No Comments  Comments
    With the three-day Memorial Day weekend in the immediate offing, the S&P 500 spent the day in semi-vacation mode. The intraday high-low trading range of 0.29% was the smallest of the year. The peak coincided, not surprisingly, with Janet Yellen’s “Outlook for the Economy” speec...
  • Secular Trends in New Residential Building Permits an...
    By on May 22, 2015 | No Comments  Comments
    Yesterday we reported separately on the latest residential building permits and housing starts in the government’s report for April data, courtesy of the Census Bureau and the Department of Housing and Urban Development. Despite the fact that both are monthly SAAR series (seasonally adjusted a...
  • One of Europe’s Latest Debt Nightmares
    By on May 22, 2015 | No Comments  Comments
    Elliott Wave International’s European markets expert Brian Whitmer often cautions his subscribers to beware of the pitfalls that will accompany the developing deflation in Europe. On May 20-27, Brian is hosting a free 5-video event at elliottwave.com: Investing in Europe: 5 Critical Insights. ...
  • SPX Snapshot: 10th Record Close of the Year
    By on May 22, 2015 | No Comments  Comments
    The S&P 500 hits its -0.14% intraday in the opening seconds. But the 10 AM announcement of disappointing existing home sales and a weaker than forecast reading from the Philly Fed index put the index in modest rally mode. It then trended sideways with a pop to its 0.40% intraday high twenty minu...
  • Greece Says Will Default On June 5th as Moody’s War...
    By on May 21, 2015 | No Comments  Comments
    The Greek government says that a “moment of truth” is coming on June 5th.  Either their lenders agree to give them more money by that date, or Greece will default on a 300 million euro loan payment to the IMF.  Of course it won’t technically be a “default” according to IMF rules for anot...
  • 4 Factors Signaling Volatility Will Return With A Ven...
    By on May 21, 2015 | No Comments  Comments
    No one could have predicted the sheer scope of global monetary policy bolstering the private banking and trading system. Yet, here we were – ensconced in the seventh year of capital markets being buoyed by coordinated government and central bank strategies. Today we welcome Nomi Prins as our n...
  • Stocks and Bonds Due For Generational Crash of 75%!
    By on May 21, 2015 | No Comments  Comments
    From the point of view of history, a reversion to generational lows is inevitable, and a valuation level around 50% of GDP for stocks is a fair target. If we look back to 1981 valuations of stocks and bonds as a guide to valuations at the next generational low, we find stocks and bonds are due for a...
  • New Residential Housing Starts Surged in April
    By on May 21, 2015 | No Comments  Comments
    The U.S. Census Bureau and the Department of Housing and Urban Development have now published their findings for April new residential housing starts. The latest reading of 1.135M was well above the Investing.com forecast of 1.019M. Here is the opening of this morning’s monthly report: Priv...
  • Are They About To Confiscate Money From Bank Accounts...
    By on May 21, 2015 | No Comments  Comments
    Do you remember what happened when Cyprus decided to defy the EU?  In the end, the entire banking system of the nation collapsed and money was confiscated from private bank accounts.  Well, the nation of Greece is now approaching a similar endgame.  At this point, the Greek government has not rec...
  • SPX Snapshot: FOMC Mini-Drama Ends With Another Fract...
    By on May 21, 2015 | No Comments  Comments
    The S&P 500 sank to its modest -0.25% intraday low shortly after the opening bell. With no economic news on tap, the focus of the day would be the afternoon release of the FOMC minutes. Sure enough we got a typical 2 PM fast-money trade, with the index rising to its 0.32% intraday high (a record...
  • Market Breaks Out To The Upside: Bulls Remain In Char...
    By on May 20, 2015 | No Comments  Comments
    About a month ago, I discussed the market was approaching an important decision point. To wit: “Since the end of the 2012, coincident with the Federal Reserve’s implementation of QE3, the market has been on an unrelenting bullish trajectory that has defied weakening underlying economic ...
  • Why Are Economists’ Predictions So Awful?
    By on May 20, 2015 | No Comments  Comments
    Economists have bought into the transitory soft patch thesis of the Fed, hook line and sinker. Please consider Economists’ Forecast: Here We Grow Again. Forecasters in the latest Wall Street Journal survey estimated the U.S. economy contracted at a 0.3% pace in the first quarter because of hits f...

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