Monthly Archives: September 2009

wednesday update

SHORT TERM: volatile day ends mixed, DOW -30 Overnight the Asian markets were mixed. Europe opened higher but closed -0.60%. Overnight US index futures were higher, and at 8:15 the ADP index was reported -254K v -277K, plus the Q2 … Continue reading

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tuesday update

SHORT TERM: market consolidates after yesterday’s rally, DOW -47 Overnight the Asian markets were mostly higher. Europe opened lower and closed -0.25%. US index futures were lower overnight, and at 9:00 Case-Shiller reported housing prices rose for the third month … Continue reading

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monday update

SHORT TERM: M & A helps the market move higher, DOW +124 Overnight the Asian markets were all lower. Europe opened higher and closed +2.25%. US index futures were higher overnight and the market opened higher on several merger and … Continue reading

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Fiat currency devaluation

John Stuart Mill (1806-1873) had studied carefully the works of D. Hume and A. Smith: “Suppose that, in a country of which the currency is wholly metallic, a paper currency is suddenly issued, to the amount of half the metallic … Continue reading

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weekend update

REVIEW US markets stumbled this week after release of the FOMC statement at 2:15 on wednesday. Rates remained unchanged, but the FED extended mortgage and agency bond pricing support. The initial reaction was a 15 minute pop to a new … Continue reading

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friday update

SHORT TERM: pullback continues but stabilizes, DOW -42 Overnight most of the Asian markets were lower. Europe opened higher, but closed mixed. US index futures were higher overnight and at 8:30 Durable goods orders were reported at -2.4% v +4.8%. … Continue reading

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thursday update

SHORT TERM: drop in Existing home sales leads market lower, DOW -41 Overnight the Asian markets were mixed. Europe opened lower and closed -1.45% in broadbased selling. US index futures were lower overnight and at 8:30 the weekly Jobless claims were … Continue reading

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