(“S&P 500 More Than 20% Above Its 200-DMA; First Time Since 5/83”, BeSpoke Investment Group, September 16)
We’ve got this very unstable situation in which Fed policy is dictating the behavior of so many assets. The dollar is at the nexus of this. – Dean Curnutt, President, Macro Risk Advisors, quoted in “Dollar Calls the Tune For…
We are responding aggressively to the current market conditions which have weakened dramatically in recent weeks. These revisions to our plans will allow us to reduce operating costs and capital spending, adjust our production profile to better match market requirements…
The Federal Reserve is likely to cut its short-term interest rate by a quarter of a percentage point next week — but then may be ready for a breather. – Greg Ip, “Fed May Consider Pause In Rate Cuts” (subscription…
BeSpoke has an excellent table up of how the Dow has acted the day after its previous 300+ up days. Yesterday represented the 22nd such occurrence, and on average the Dow has been down the day after for the previous…
About 2:15pm EST, as the market was reacting tepidly to Bernanke’s speech, news broke that Bank of America (BAC) is in talks to buy Countrywide (CFC). This led to a surge in Countrywide shares (CFC Intraday Chart) that carried over…
The Fed today attempted the highly difficult “dovish hike”. What is a “dovish hike”? Think of it as like the triple axel in figure skating or the double clutch in basketball. It’s the gold standard of central banking moves, one…