Blog

Currencies

Hedging Euro Exposure

A subscriber just asked my thoughts on Euro exposure and how to hedge it.  As usual for me, simplest is best; short the Euro (or FXE) and long USD (RYSBX)…

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December 4, 2014
Commodities

Doctor Copper Do-or-Die

If the good Doctor does not do at the noted support level, it is going to die below it... or at least target 1.50/lb.

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December 3, 2014
Macro Data

More Monetary Base Perspective

Here is the chart shown the other day, with the S&P 500 diverging from its sustaining Adjusted Monetary Base (AMB).  Bulls will proclaim that the economy and the stocks of…

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December 3, 2014
Interest Rates

Yield Curve Today

The status for today's 'in a vacuum' view is that risk is still 'ON' with yields rising (bonds dropping) and short-term yields rising more, meaning players are not seeking out…

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December 3, 2014
NFTRH Interim Updates

NFTRH; Key ETF Charts

A snapshot of current daily technicals…

Precious Metals

GLD dropped below and shot back above support.  Key objective: Get above 120 and make a higher high to October.

(more…)

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December 3, 2014
Currencies

2 Horsemen Diverge

One Horseman is riding up to new highs but is not confirmed by the other Horseman, which sees silver continuing to out perform gold in micro term. Further, Horseman #1…

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December 2, 2014
Risk Management

Junk Bond Echos

Hey Bueller, junk bonds are doing what?  Dropping.  Junk bonds vs. quality bonds are doing what?  Dropping.  Heading into October junk bonds and ratios did what?  Anyone?  Beuller? Look, I…

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December 1, 2014
Gold Stocks

Gold vs. Oil; Fundamental Plus for Miners

Errr, this chart is starting to get hard to ignore isn't it? It is a gold mining sector fundamental indicator. I have no clue how the jockeys using only nominal…

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December 1, 2014
Interest Rates

Yield Curve Today

The 10-5-2 spread is rising with nominal yields reversing to up.  A little risk off'y to go with junk bonds, which are quite risk off'y. For reference, here is the…

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December 1, 2014
Gold

10-2 Yield Curve w/ Gold

Here is the big picture view of the 10yr-2yr Treasury yield spread with gold shaded in the background.  People who successfully get through this bear market in gold will have…

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December 1, 2014
NFTRH Interim Updates

NFTRH; Econ Data, Markets and Gold

So the Swiss gold vote caused a sizable ruckus in gold and silver overnight.  This morning there is a nearly as sizable recovery in the metals.

The Swiss vote is an important hype component to get behind us and a positive reversal today would be notable, given the already over bearish sentiment profile (cue Citi’s Willem Buiter with a hysterical rant against gold leading in to the Swiss vote).

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December 1, 2014
NFTRH

NFTRH 319 Out Now

It's a global game of Whack-a-Mole (currency devaluation) and in this game certain countries and economic zones make sense in some ways.  Japan for instance may be viewed as USA…

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November 30, 2014