Stock Market News & Stocks to Watch from StraightStocks » Big Al

Oops, Did I Say That Out Loud?

Contrarian Profits — Thu, 24 Sep 2009 17:31:51 +0000

pA Wild and Wacky Wednesday#8230;FOMC leave stimulus and QE in place#8230;Will G-20 try to throw cold water on commodities? GATA receives a letter from the Fed#8230;And Now#8230; Today#8217;s Pfennig/p pGood day#8230; And a Thunderin#8217; Thursday to you! It#8217;s Thundering and raining here, so I felt that naming today a #8220;Thunderin#8217; Thursday#8221; was bang on! We had a wild and wacky Wednesday yesterday, with the Fed Heads playing the part of the court jester#8230; And#8230; I want to know, right here, right now, why the media isn#8217;t blasting Fed Head Honcho Big Ben Bernanke! I#8217;ll tell you why they should be, in a minute#8230;/p pOK#8230; As I said, we had a wild and wacky Wednesday yesterday, as the non-dollar currencies went for a#8230;/p

Retail Sales Soar!

Contrarian Profits — Wed, 16 Sep 2009 19:50:44 +0000

pCurrencies rally on Retail Sales! China likes investments in Canada#8230;Big Ben the #8220;inflation fighter#8221;#8230;Gold climbs to $1,018! And Now#8230; Today#8217;s Pfennig!/p pGood day#8230; And a Wonderful Wednesday to you! Good news for me this morning, the pain in my left knee has subsided#8230; Now, If I could just get that swelling to go down, I#8217;d be in tall cotton! This has been quite the ordeal on the old Pfennig writer, and one that I will be glad to put in the rear view mirror!/p pWell#8230; When I turned on the currency screens this morning, the euro was trading with a 1.47 handle! WOW! It just skipped to my Lou right through the 1.46 handle, eh? It began yesterday afternoon, the dollar was#8230;/p

Currencies Hold Their Gains…

Contrarian Profits — Wed, 09 Sep 2009 19:32:44 +0000

p Consumer Borrowing Collapses#8230;What#8217;s up with sterling? Option ARMs get ready to reset#8230;Gold falls back to below $1,000#8230;And Now#8230; Today#8217;s Pfennig!/p pGood day#8230; And a Wonderful Wednesday to you! Well#8230; The currencies, for the most part, kept the heat on the dollar throughout the day and in the overnight markets. The euro, did rise to 1.45 and change yesterday, while it is hovering right at that figure this morning, so it did give a little bit back./p pThere were no big announcements last night like we saw on Monday, so the currencies didn#8217;t have anything to push them further. In fact, there may be a #8220;letting the dust settle#8221; period of time, with the Big Dog, euro, before we see any further advancement,#8230;/p

$75 Billion in New Treasuries this Week

Contrarian Profits — Tue, 11 Aug 2009 19:00:30 +0000

pCurrencies adrift all day yesterday#8230;Data prints begin today with Productivity#8230;Stop to think! Chinese data is impressive#8230;And Now#8230; Today#8217;s Pfennig!/p pGood day#8230; And a Terrific Tuesday to you! Well, no data yesterday left the markets drifting about the open waters. Stocks rebounded, which gave the risk assets a bias to be bought, but for the most part, the day was much like being a drift in the ocean, with no direction or cares!/p pThat will all change beginning today with the Nonfarm Productivity report for the 2nd QTR#8230; Long time readers know my dislike for this data, as I believe it simply shows that one person works longer hours! The Fed Heads used to be all over this data like a cheap suit,#8230;/p

Desperately Seeking Yield

Contrarian Profits — Fri, 26 Jun 2009 15:50:41 +0000

pCurrencies rally#8230; More on the BRIC#8217;s#8230; New Zealand#8217;s GDP contracts.. Bernanke gets grilled! And Now#8230; Today#8217;s Pfennig!/p pGood day#8230; And a Happy Friday to one and all! The end of what seemed to be a very long week#8230; The last weekend in June, can you believe that? Next week, we#8217;ll be getting ready for the 4th of July celebrations! WOW!/p pWell#8230; What a volatile week it has been in the currencies! Up, down, all around, and settling back to levels that we saw before the Fed#8217;s FOMC meeting earlier this week. Suddenly, investors are looking for yield again#8230; Looks like they are #8220;Desperately Seeking (not Susan) Yield! And why not? The Fed, and the Bank of Canada (BOC) have come out and said that there will#8230;/p

A Sustainable Economic Recovery?

Contrarian Profits — Fri, 19 Jun 2009 14:00:18 +0000

pMore range trading#8230; Eurozone doesn#8217;t need more stimulus#8230; A$#8217;s outperform on rate outlook#8230; A double whammy for the dollar#8230; And Now#8230; Today#8217;s Pfennig!/p pGood day#8230; And a Happy Friday to one and all! The end of another week#8230; I was out on Monday, and it still seems to have been another long week! UGH! Oh well#8230; It#8217;s Friday, and this weekend is Father#8217;s Day#8230; So, we#8217;ve got that going for us, eh?/p pMore range trading in the currencies yesterday, with the euro leading the currencies higher for most of the day, only to see their gains slip, sliding away by the late afternoon. In the overnight markets, the currencies, once again, have moved higher, but nothing to get all lathered up about#8230;/p pThis morning, the euro got#8230;/p

Gold Vending Machines!

Contrarian Profits — Thu, 18 Jun 2009 14:00:51 +0000

pMore range trading#8230; SNB doesn#8217;t target the franc#8230; Norges Bank cuts rate but looks forward#8230; Buy your gold and Snickers! And Now#8230; Today#8217;s Pfennig!/p pGood day#8230; And a Tub Thumpin#8217; Thursday to you! It was 95 here yesterday, and forecast to be even warmer, or should I say hotter, today! WOW! Like overnight, it turned to summer, after the coldest, most wet, spring I can ever recall#8230; I know, I#8217;ll get 100 emails reminding me that summer doesn#8217;t officially start until next week#8230; I#8217;m just talking about the summer-like weather!/p pThe currencies remained in that range I talked about yesterday, with a slight bias to sell dollars, but not much of one. Crude Oil prices moved higher on the day and overnight, which doesn#8217;t play well#8230;/p

The Currency Rally Continues!

Contrarian Profits — Mon, 01 Jun 2009 13:16:23 +0000

pEuro trades past 1.42#8230; Geithner make a promise to China#8230; Central Bank meetings this week#8230; Canada#8217;s Fin Min, speaks#8230; And Now#8230; Today#8217;s Pfennig!/p pWell, on Friday I left you with the story of a currency rally for the ages#8230; And it didn#8217;t let up there! Although the rest of the day on Friday the bias was to sell dollars, the real chunk of the dollar wasn#8217;t taken until last night in Asia#8230; Here#8217;s the deal folks, and this won#8217;t be the first time you#8217;ve heard this from me either!/p pFundamentals! The fundamentals are coming home to roost, and the rot on vine is being exposed#8230; Just an example of what I#8217;m talking about#8230; G.M. will file for bankruptcy today#8230; Soon, they will#8230;/p

He Said What?

Contrarian Profits — Wed, 13 May 2009 18:42:43 +0000

pForeclosures rise#8230; Green Shoots, no so green! Getting on a bus#8230; Losing a triple A rating? And Now#8230; Today#8217;s Pfennig!br / Good day#8230; And a Wonderful Wednesday to you! Not wanting to start the day off with bad news#8230; But I just saw a flash on the TV that said, #8220;foreclosures jumped 32% last month#8221;#8230; More Blood in the Streets, eh? That just happens to be the title of my presentation today#8230; Blood in the Street: Bargain time or just a cease fire? Hey! I don#8217;t make these things up#8230;/p pOK#8230; Another day here in Sin City#8230; This city is packed with people, everywhere we go, it#8217;s simply amazing#8230; There#8217;s been no sign of a recession here#8230; Of course, if you got out#8230;/p

A Currency Bounce

Contrarian Profits — Wed, 29 Oct 2008 15:38:11 +0000

U.S. stocks soar! Currencies rally! Consumer Confidence at an all-time low! Getting off the bench! And Now… Today’s Pfennig!

Well… The trading theme remained in place yesterday, but this time it was reversed. For those of you new to class, or any of you who have been playing horse hooky, the trading theme that has gripped the markets since August is: The deeper, darker, and more dangerous the U.S. economy and financial meltdown, including the credit market’s locked status, the dollar gets bought… If there is any sign of light to all this mess, the dollar gets sold, for whenever the markets get their minds off the mess, they are reminded of awful fundamentals for the dollar.

So… Yesterday, the stock jockeys…

Dow Up 233 on Fed Rate News

Jim Kingsland — Sun, 19 Aug 2007 22:19:40 +0000

Last Sunday this blog broached the possibility of some sort of intra-meeting move by the Fed. And then on Monday, Paul Kasriel at Northern Trust told me a cut in the discount rate would make life easier for the Fed as opposed to pumping the system via daily injections. Well, the discount cut happened, as [...]

Scrap Metal Prices on the Rise

Jim Kingsland — Mon, 09 Jul 2007 15:42:16 +0000

There are a variety of media reports this weekend exploring the issue of thieves who are absconding with beer kegs and taking them to scrap metal yards where they can receive upwards of $50 for an empty keg. One report discussed how some manhole covers have even disappeared. Manhole covers fetch around $20. Thefts of [...]