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Over the past year, I have most often discussed the composite indicator constructed from the trends in gold, crude oil, and yields on the 10 year Treasury in the context of high readings. Collectively, when these trends are strong and rising, stocks tend to under perform. This has been the case over the past 25 years and over the past 10 months during this epic bull run. But what happens to equities when this indicator registers a low reading - as in the trends in gold, crude oil, and yields on the 10 year Treasury are weak and falling?
Monday, February 8, 2010
Morning News Notes: 2/8/2010
The "Morning News Notes" as prepared by TL... Greece, Bernanke, Geithner, Greenspan, unemployment and job creation, and odds of an increase in Fed Funds rate.
Sunday, February 7, 2010
Saturday, February 6, 2010
Investor Sentiment: Are We There Yet?
Like those long distance car trips I take with my children where 90 minutes into an 8 hour drive they say, "Are we there yet?", market participants are wondering the same: are we there yet? Will the recent bout of selling entice the buyers such that the market will revisit the highs last seen only 4 short weeks ago? Anything can happen, but from a sentiment perspective, the answer remains the same as last week: complacency reigns and this is not a high reward, low risk investing environment.
Friday, February 5, 2010
Morning News Notes: 2/5/2010
The "Morning News Notes" as prepared by TL...non-farm payrolls, Volcker rules, WSJ on US debt and credit rating, total equity fund flows, and fundamental items weighing on stocks.
Thursday, February 4, 2010
Morning News Notes: 2/4/2010
The "Morning News Notes" as prepared by TL...jobless claims, V earnings, CSCO earnings, CLX earnings, and mortgage spreads.
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