Financial Review

Fuld Again

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-05-29-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe DOW – 115 = 18,010 SPX – 13 = 2107 NAS – 27 = 5070 10 YR YLD – .04 = 2.09% OIL + 2.62 = 60.30 GOLD + 2.20 = 1191.00 SILV + .04 = 16.80   The Dow Jones industrial average ended about 115 points lower after falling more than 150 points during the session. The blue chip index posted a 0.9 percent gain for May. The S&P 500 ended up 1.1 percent for the month, and the Nasdaq outperformed with a 2.6 percent monthly gain.   Year to date the Dow Industrials are up about 1 percent, the S&P 500 is up about 2 percent, and the Nasdaq is up about 7%. This has been an extremely tight trading range to start the year. Another way to look at it is consolidation. And at some point the markets will break out of this tight range. The question is whether it will be a breakout or a breakdown. And if you’re looking for a divergent signal, the Dow Transports traded down for the day, for a 3.4 percent loss in May. The index is down 9 percent for the year.   Today’s big economic report was that first quarter Gross Domestic Product in the U.S. shrank at a 0.7 percent annualized rate, revised lower from a previously reported 0.2 percent gain. The revisions showed the trade gap widened …

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Thursday, April 03, 2014 – Tomorrow, Tomorrow, It’s Only a Day Away

Tomorrow, Tomorrow, It’s Only a Day Away by Sinclair Noe DOW – 0.45 = 16,572SPX – 2 = 1888NAS – 38 = 423710 YR YLD – .01 = 2.79%OIL + .73 = 100.35GOLD – 3.10 = 1287.80SILV – .16 = 19.92 Forget about today; at least in terms of Wall Street trading. Tomorrow is more important. The first Friday of each month is always a big day because of the monthly jobs report; tomorrow, maybe more than most. The consensus estimates called for 200,000 net new jobs in March and the unemployment rate is expected to drop to 6.6% from 6.7%. Then there is the whisper number. Many people believe the harsh winter weather has held back hiring, like a balloon trapped under water by a thin sheet of ice, and when the ice melts, as it did in March, the balloon will jump out of the water like a salmon swimming upstream. Weather sensitive industries such as retail, construction and manufacturing might be especially strong performers. A March jobs report that shows a broad increase in hiring across most or all industries would show the economy is recovering and everything, including the Fed, is on track. A disappointing number, though, would bolster the case of the increasingly famished Wall Street bears that bad weather alone is not the source of weak economic growth so far in 2014. And if the number comes in right at expectations, we’ll have to go to the tiebreakers. We will look at the number …

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Friday, August 23, 2013 – QE Giveth and QE Taketh

QE Giveth and QE Taketh by Sinclair Noe DOW + 46 = 15,010SPX + 6 = 1663NAS + 19 = 365710 YR YLD – .08 = 2.82%OIL + 1.39 = 106.42GOLD + 21.70 = 1398.80SILV + .90 = 24.18 Yesterday, the Nasdaq crashed for about 3 hours; trading was halted; we still don’t know why. It now has a snappy name, the Flash Freeze. It happened after shares of Apple got stuck at $498, then everything froze. In time we’ll hear a good story about why it happened. My best guess for now is that it has to do with high frequency traders; the algo traders have a tendency to clog the trading pipes with all their bids, offers, and canceled orders as they try to scalp and front run trades. The market exchanges claim the high frequency traders provide liquidity, but I didn’t see any liquidity for about 3 hours yesterday; zip, nada. The markets had a pleasant and quiet day today, following a couple of weeks of fretting about Fed taper. America has created a whopping entitlement for the biggest Wall Street banks and their top executives, who, unlike most of the rest of us, are no longer allowed to fail. They can borrow from the Fed at almost no cost, then lend out the money at 3 percent to 6 percent or 30 percent; or they can take the money and gamble in markets they have rigged: derivatives, interest rates, energy, aluminum. It’s all rigged; the big …

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Thursday, October 11, 2012 – The Bigger Debate

by Sinclair Noe DOW – 18 = 13,326SPX +0.28 = 1432NAS – 2 = 304910 YR YLD – .02 = 1.67% OIL + 1.22 = 92.47GOLD + 4.60 = 1768.00SILV +.06 = 34.10PLAT + 4.00 = 1682.00 Archived audio at http://www.moneyradio.com/Audio-Archive A fairly remarkable thing happened today. I doubt you’ll hear much of it on the nightly news because after all, there is a big debate this evening, but the news out of Tokyo this morning centered around and even bigger debate. The International Monetary Fund and the World Bank are holding their annual meeting in Japan and the Managing Director of the IMF, Christine Lagarde announced that the harsh austerity measures that European monetary officials have been pushing could produce the opposite effect on struggling nations like Greece and Spain and Portugal and Ireland. In other words, austerity has not worked and it probably isn’t the solution to Europe’s problems after all. For those of you that have been alert and attentive, you know that Euro-crisis has served as the testing ground for major economic theory. The IMF announcement today marks a dramatic turning point moving forward, or at least it marks a dramatic sounding announcement and a surprising admission of policy failure. Still to be determined is how the Euro-crisis plays out from here. Large parts of the Euro-zone are now in economic depression that threaten not just the weak nations but even the strongest. We are familiar with the situation in Greece; unemployment is running at 25%; the …

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