Morning News Notes: 9.30.10

The morning news notes as prepared by TL....Paris on red alert, China's PMI, is the US looking like Japan?, Nikkei falls 2%, US Postal Service is broke, a graph from the Conference Board showing Jobs Plentiful minus Jobs Hard to Get v. Unemployment Rate, and households continue to deleverage. 

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Morning News Notes: 9.29.10

The morning news notes as prepared by TL....President Jimmy Carter hospitalized, Americans don't trust the media, American Truckers Association truck tonnage index, North Korea, large cap stocks favored by Roubini, ECB 3 month auction, and hedge funds increasing short positions in Chinese financials and material companies.

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Morning News Notes: 9.28.10

The morning news notes as prepared by TL....China and Russia in energy collaboration, IATA, leading indicators for Eurozone point to slowdown, Ken Fisher with comments on investing in the next decade, the argument against structural unemployment, trade wars, Rohm Emanuel, the value of Facebook, and RIMM.

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An Obvious and Important Divergence

As you know, equities have been on a tear in September, and in this market environment, we also know most assets are highly correlated and tend to move together.  At times, it seems like there are only two trades.  There is the "risk on" trade as represented by equities and commodities, and there is the "risk off" trade when bonds outperform.  This is nothing new and something that has been present for a long while.

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Morning News Notes: 9.27.10

The morning news notes as prepared by TL....silver hits 30 year high, Greenspan on budget deficits v. tax cuts, Roubini on likelihood of double dip, this week's economic highlight: Friday's ISM report, IPO's, CSCO and fiscal policy, universal currency debasement, and new home sales.

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Investor Sentiment: Split Decision

In aggregate, investor sentiment is neutral.  However, when looking at the data in greater detail, we note that company insiders are neutral while the "smart money" is bullish and that the "dumb money" is neutral while the Rydex market timers are bearish (i.e., bull signal).  Similar data on opposite ends of the investing spectrum yields a somewhat confusing yet neutral reading.

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Morning News Notes: 9.24.10

The morning news notes as prepared by TL....stock pickers suffer in current market environment, ORCL, BAC. JP Morgan raises target on crude oil, NFLX, and comments by Paul Volcker.

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