The markets are closed tomorrow and I’m on vacation in New Orleans. I and the rest of the crew will be back on Monday. Until then — have a safe weekend.
Oh yeah — I’m using another computer so I don’t have pictures of the kids for you.
Featured News » Latest news and happenings.
Weekend Weimaer and Beagle
Just "Shoot" Me
This post is from Invictus
David Rosenberg, ex of Merrill Lynch, now of Gluskin Sheff, really crystallized what the “green shoot” crowd is missing in his daily memo of June 29 (all emphasis mine):
Most pundits who crow about green shoots and about an inventory restocking in the third quarter giving way towards some sustainable economic expansion [...]
Today’s Market
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This is something I’ve been wondering/observing about for the last few weeks. Is the market forming a head and shoulders top? As the chart shows, there’s a pretty clear left shoulder and head on the chart now. All we need is the right side.
If you think about it, this patter would [...]
Today’s Market
I’m in the air to New Orleans and will post this in the morning.
Challenger Job-Cuts Report Shows Better Numbers
From CNN.Money:
The pace of U.S. job losses has significantly slowed, according to a report released Wednesday.
Outplacement firm Challenger, Gray & Christmas Inc. reported that the number of job cuts announced in June fell for the fifth straight month, after reaching a seven-year high in January.
Challenger said job cut announcements by U.S. employers totaled 74,393 in [...]
Chicago PMI Mixed
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Here is a link to the report
The main issue is the the indexes appear to be in a three month range for the last three months. This is after increased in February and March. Also note that some of these numbers are the highest since last fall. However, [...]
Janet Yellen on Inflation
From a recent speech:
Let me now turn to an issue that has lately garnered a great deal of attention—inflation. Just a short time ago, most economists were casting a wary eye on the risk of deflation—that is that prices might drop, perhaps falling into a downward spiral that would squeeze the life out of [...]
Wednesday Commodities Round-Up
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While the weekly chart is still in an uptrend, prices are right at longer-term support. However, the MACD and RSI are still rising. Also note the EMA picture is jumbled — while all are heading lower the main issue is there is a great deal of [...]
Today’s Markets
This is really interesting.
Prices moved into the 20 day SMA and bounced lower. However
Prices are using the 20 day EMA for technical support. Interesting….
Case Shiller Drops
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There is a lot of “excitement” regarding the upward movement of the graph. Notice this is the first upward move in quite sometime. And — most importantly — it’s only one month. As a result it’s important to not get carried away. It’s good news, but it [...]
Consumer Confidence Drops
From the Bonference Board:
Consumers’ appraisal of present-day conditions was less favorable in June. Those claiming business conditions are “good” decreased to 8.0 percent from 8.8 percent, while those saying conditions are “bad” increased to 45.6 percent from 44.5 percent. Consumers’ assessment of the labor market was also less favorable. Those stating jobs are “hard to [...]
A Closer Look At Personal Consumption Expenditures
Notice the following on the above chart:
1.) PCEs fell out of bed last year — notice the high month over month and year over year drops.
2.) This year PCEs have returned to more “normal” month over month increases.
3.) The year over year number appears to be bottoming.
This is the same pattern retail sales have [...]
Treasury Tuesdays
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The Treasury market continues to rebound. Notice that prices have been rising since roughly mid-June. Also note that prices are above the 10 and 20 day EMA and are just below the 50. Also note the 10 day EMA is about to cross over the [...]
Today’s Markets
Yes the markets are moving higher. However, notice the lack of volume over the last two days. That’s does not bode well for a stronger move higher.
The daily charts shows two interesting points.
1.) Most of the price moves came at the beginning of the session.
2.) There was a heavy volume surge in the last [...]
An Economic Chicken And Egg Story
I really wish we could all wake up tomorrow (or today which would be better) and see headlines like “the economy is returning to 4% growth and unemployment is at 5%”. Unfortunately that is not going to happen. In economics certain things usually happen before other things. To that end, below is [...]
Are We There Yet? Not Quite.
This was written by Invictus as well.
There’s widespread consensus that things are “less bad” of late than they were in the fourth quarter of 2008 or the first quarter of 2009. It’s hard to disagree with that. However, when is the recession going to end, and what is going to become of the so-called “green [...]
Mr. Market Says He Wants Some Respect
I have invited Invictus to start posting here. He usually posts at Blah3 but I’ve asked him to start posting some economic and market observations here.
A significant event – perhaps very significant – took place in the market last week, yet it has gone under most of the radar I look at. The S&P500 [...]
Market Mondays
Welcome back. I hope everybody had a good weekend. Let’s start by taking a look at the markets.
The SPYs and IWMs have bounced off the 50 day EMA while the QQQQs have bounced from a slightly higher lever. In addition, all three averages have moved through downward sloping trend lines. This should be [...]
Weekend Weimer and Beagle
It’s that time of the week. See you on Monday
Is This Another Sign of A Market Correction?
Yesterday the IEFs and TLTs made higher moves. Is this money that would be going into the market instead going into bonds because their yield is attractive? Or, are people taking profits off the table and moving into Treasuries awaiting the next move? Click on all images for a larger image — [...]
CBO Sees Problems Brewing
From the CBO:
Today CBO released the Long-Term Budget Outlook. Under current law, the federal budget is on an unsustainable path—meaning that federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the U.S. [...]
DVD Update, 1 July, Plus Maybe The African Queen After All?
Some DVD release updates, ordered by release date:
- Sin nombre, 2009, d. Cary Fukunaga, Sony, 1 September- Camille, 2007, d. Gregory Mackenzie, National Entertainment/E1, also on Blu-ray, 15 September, w. Sienna Miller, James Franco, David Carradine- Easy Virtue, 2008, d. Stephan Elliott, Sony, also on Blu-ray, 15 September, w. Colin Firth, Kristin Scott Thomas, Jessica [...]
IFC Films on DVD, Round 2 + Akerman + Petzold – Michael Jackson
Though you might have other things on your mind, I thought I’d post another DVD update. Through their new deal with MPI, IFC Films announced their second round of DVD releases after that Blockbuster/Genius drought. Unfortunately, all of their titles so far have been part of their Festival Direct package and not their theatrical releases [...]
Jean-Jacques Beineix on DVD (Updated)
Cinema Libre announced the first two DVD releases of their Jean-Jacques Beineix collection, Roselyne and the Lions [Roselyne et les lions] on 14 July and IP5: The Island of Pachyderms [IP5: L'île aux pachydermes] on 18 August. As Eric pointed out, the studio is re-releasing Beineix’s most famous film Betty Blue, with Béatrice Dalle and [...]
Grindhouse? Maybe?
A couple of people have suggested to me that the theatrical version of Grindhouse, with all the trailers, is coming to DVD and Blu-ray on 11 August. No official announcement has been made, so I don’t know the specifics of the release. I’m pretty skeptical about any of the upcoming Weinstein Company’s releases anyway.
New Fever Ray Video
The new video from Fever Ray, better known as Karin Dreijer Andersson of The Knife’s solo project, was released last week for “Triangle Walks,” directed by Mikel Cee Karlsson. As expected, it’s gorgeous, unsettling and totally fucking awesome. Enjoy!
Family Ties
Summer Hours [L'heure d'été] – dir. Olivier Assayas – 2008 – France – IFC Films
Written for Gone Cinema Poaching.
Separating Olivier Assayas’ films into two camps, the “globe-trotting erotic-thriller” and the “prestige” pic, is an easy action. On a superficial level, Boarding Gate and Summer Hours couldn’t be more different. However, when it comes to Assayas’ [...]
A Few More from Sony, Miramax Martial Arts on Blu-ray
Sony is continuing to make it their year for DVD releases. Here are a few DVD and Blu-ray releases I uncovered this weekend.
DVDs
- The Buttercup Chain, 1970, d. Robert Ellis Miller, Sony, 8 September- Crank 2: High Voltage, 2009, d. Mark Neveldine, Brian Taylor, Lionsgate, also on Blu-ray, 8 September- Love and Pain and the [...]
I Wanna Be Adored
Adoration – dir. Atom Egoyan – 2008 – Canada – Sony Pictures Classics
Written for Gone Cinema Poaching.
It seems a long time ago that Atom Egoyan, after the successes of Exotica and The Sweet Hereafter, was among the forefront of international cinema. By following The Sweet Hereafter, which garnered the Egyptian-born, Canadian-raised filmmaker two Oscar nominations, [...]
September Criterions and Other Upcoming DVD Releases
On the surface, September would seem to be a disappointing month for Criterion, with only two official releases, David Mamet’s Homicide and Alexander Korda’s That Hamilton Woman (on a side note, I think Criterion should really give Korda a rest, as their staff must include the world’s only Korda fanboys). However, they also announced a [...]
Cracks in My Canvas
I’ve just returned from my (very bittersweet) trip to Chicago to see PJ Harvey and John Parish in concert. I’ll have some updates for you either tomorrow or Thursday.
Peter Greenaway’s Nightwatching on DVD in September
E1 Distribution announced a 15 September DVD release date for Peter Greenaway’s Nightwatching, which stars Martin Freeman as Rembrandt. They will release the film in two editions; the special edition will also contain Greenaway’s Rembrandt’s J’accuse. Nightwatching also stars Natalie Press, Toby Jones and Jodhi May. Koch Lorber also announced Dominique Abel, Fiona Gordon and [...]
Food, Inc. (2009)
When I moved to Philadelphia for a brief hiatus from post-graduate life in Denver in 2002, which was at that point the only major city I had come to know intimately, I wanted to experience something new. Wiping the slate clean, I left for northeast Philadelphia on a one-way flight with two suitcases of [...]
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