> Weekly cyclical coincident indicator trending lower since early Apr. on weaker industrial
commodities prices and higher unemployment insurance claims. SP 500 has been flat over same
period. Players paying less attention to spike in claims, await the monthly jobs #.
> Monthly earnings indicator lost momentum in Apr. but remains well above year ago level.
> Oil above $95 bl. has bothered the market.
> P/e ratio on "500" continues its slow fade. Earnings have been running well ahead of real
economy, inducing some caution.
> Core fundamentals set to accelerate a fade process after Jun. 30, when monetary liquidity
gains from QE2 may terminate. No sell signal in offing, but highly positive return vs. risk profile
will see some deterioration.
> High visibility liquid reserves -- money market funds -- now far under early 2009 levels
when market bottomed.
- Peter Richardson
- Retired chief investment officer and former NYSE firm partner with 40 years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!
- ► 2012 (177)
- Global Economic Supply & Demand
- Stock Market -- Short Term Technical
- US Bank Stocks
- Shanghai Stocks -- Peoples Bank Screws Up
- Stock Market
- Commercial Paper Revival Ongoing
- Stock Market -- Fundamental Bullet Points
- Stock Market
- Monetary Policy & The Markets
- Out Of The long Treasury.
- Stock Market -- Technical
- Financial System Liquidity
- Stocks Vs. Bonds
- Stock Market & Silver Price Flash points
- Stock Market & Silver Price
- CRB Commodity Price Composite
- My Sense Of Uncertainty Is On The Rise
- Economic Indicators / Analysis
- Oil Price -- $16 Bl. Skidoo
- Hi Ho Silver....
- US Stock Market
- Russia Stock Market
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