Monthly Archives: June 2011

Textbook Bounce Off the 200-day Moving Average

Posted on June 16, 2011 by macromon

After gyrating much of the day, the S&P500 bounced off the the 200-day moving average (which also coincided with the December 2010 close)  just like a page out of a technical analysis textbook.   The bounce helped rescue Apple from some … Continue reading →

Posted in Apple, Black Swan Watch, Global Stock Performance | Tagged , , | 1 Comment

Governor Brown Vetoes “Greece on the Pacific” Budget

Posted on June 16, 2011 by macromon

Governor Jerry Brown just vetoed California’s budget, which was put together in haste last night so legislators would still receive their pay.  A ballot measure passed by voters last year meant that if lawmakers didn’t meet Wednesday’s deadline, their salaries … Continue reading →

Posted in Black Swan Watch, Muni Market, State and Local Government | Tagged , , | 1 Comment

Sell in May and Go Away Trade: First 32 Days

Posted on June 16, 2011 by macromon

The table below illustrates that the 2011 “Sell in May and Go Away” trade has generated the highest return of the past 35 years.   That is, if you sold or shorted the S&P500 at the close of the last … Continue reading →

Posted in Equities, Global Stock Performance | Tagged , , | 1 Comment

McSwan Watch: Soros – China Risks ‘Hard Landing’

Posted on June 15, 2011 by macromon

George Soros was on the tape warning China is losing its grip on inflation.  Bloomberg reports, China has missed its opportunity to stem inflation and may now risk a hard landing, billionaire investor George Soros said. The world’s second-largest economy … Continue reading →

Posted in Black Swan Watch, BRICs, China, Commodities, Crude Oil | Tagged , , , | Leave a comment

Gov Moonbeam’s Update About “Greece on the Pacific”

Posted on June 14, 2011 by macromon

(click here if video is not observable)

Posted in Fiscal Policy, State and Local Government, Video | Tagged , | 1 Comment

Godot Finally Shows, Nobody Home

Posted on June 14, 2011 by macromon

The markets were finally able to generate the bounce that everyone was waiting for,  but on relatively low volume, however.   Most of the move took place overnight on the release of China’s economic data.  Apple had a nice move,  … Continue reading →

Posted in Apple, Equities | Tagged , | Leave a comment

Quote of the Day: Stock Gurus

Posted on June 14, 2011 by macromon

The secret to being a stock market guru isn’t to be correct but to make very loud and frequent predictions. As soon as the market moves in your direction you proclaim victory. The key is to make sure that no … Continue reading →

Posted in Equities, Quote of the Day, Quotes | Tagged , | 3 Comments

U.S. Macro in Three Charts: Credit Flows

Posted on June 13, 2011 by macromon

The U.S. is suffering from insufficient aggregate demand the result of the bursting of the 2004-07 credit bubble.   The consumer led economy financed by borrowing, much of it backed by home equity,  has given way to massive private sector deleveraging … Continue reading →

Posted in Economics, Fiscal Policy, Monetary Policy, Sovereign Debt, State and Local Government | Tagged , , , | 3 Comments

Jackie Moon’s Lehman Moment

Posted on June 12, 2011 by macromon

We love allegories.  The Wizard of Oz was, many believed, an allegory  of the political and economic times of the 1890s.  Wikipedia observes the “Yellow Brick Road” represented the gold standard, and “the silver slippers the Silverite sixteen to one … Continue reading →

Posted in China, Economics, Uncategorized | Tagged , , | 5 Comments

Sino Support Levels

Posted on June 12, 2011 by macromon

The China story is under pressure and weighing on the markets.   We shall soon find out if Jim Chanos is correct and how robust the Asian economy is as credit driven bubbles begin to burst.   Watch these important weekly levels … Continue reading →

Posted in Charts, China, Global Stock Performance | Tagged , | 3 Comments