Monthly Archives: January 2009

weekend update

REVIEW The FED met this week in its regular FOMC meeting. Rates stayed near zero, they noted they may buy treasuries (monetizing the debt), and they are still looking for a second half recovery. The preliminary report on Q4 GDP was … Continue reading

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friday update

SHORT TERM: market resumes downtrend after Q4 GDP report, DOW -148 Overnight the Asian markets were mostly higher. Europe opened lower and closed -1.50%. US index futures were choppy overnight, and at 8:30 the much awaited Q4 GDP report was released: … Continue reading

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thursday update

SHORT TERM: market gaps down and continues lower, DOW -226 Overnight the Asian markets were mostly higher. Europe opened lower and closed -2.20%. After the close yesterday the House passed President Obama’s stimulus plan without one Republican vote. Looks like … Continue reading

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wednesday update

SHORT TERM: market rally extends on "bad" bank proposal, DOW +201 Shortly after the close tuesday rumors circulated that the Treasury Dept, under its new secretary Geithner, was preparing to create a "bad" bank that would buy over $1 tln in … Continue reading

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tuesday update

SHORT TERM: market edges higher for third day, DOW +59 Overnight the open Asian markets were all higher. Europe opened flat and closed -0.20%. US index futures were higher overnight, then at 9:00 Case-Shiller reported housing prices continued to fall at … Continue reading

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monday update

SHORT TERM: market starts the week with a rally, DOW +38 Overnight Japan was lower, most of the rest of the Asian markets were closed for holiday. Europe opened lower but closed +3.30%. US index futures started lower overnight but … Continue reading

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weekend update

REVIEW A new year, a new president, but same old economic problems. In the US the economic reports for the week were about as expected: higher unemployment claims, and lower housing starts. On tuesday Obama was sworn in as the 44th … Continue reading

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friday update

SHORT TERM: early market selloff leads to late day recovery, DOW -45 Overnight the Asian markets were all lower. Last night the FED released its M1 multiplier report. This measures the velocity of money in the economy: http://research.stlouisfed.org/fred2/series/MULT. Europe opened lower as … Continue reading

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thursday update

SHORT TERM: market has a choppy day on the downside, DOW -105 Overnight all the Asian markets were higher. Europe opened higher, but closed -0.60%. US index futures were higher overnight but then began to sell off with Europe. At … Continue reading

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wednesday update

SHORT TERM: market rallies after retesting yesterday’s low, DOW +279 Overnight all the Asian markets were lower. Europe opened lower but closed mixed. US index futures were higher overnight and the market gapped up at the open to SPX 815. … Continue reading

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