2009 July

Dollar Down, Gold Up

Today’s GDP report didn’t have much of an impact on the stock market, but there were significant effects in other markets. The dollar fell, reinforcing the downtrend and causing a short term rally to fail right at the 50 day MA: Another big mover was the long term Treasury market which moved up in price .. read more

Bernanke’s Exit Strategy Will Fail

John Tamny’s article last week at Real Clear Markets explains why Bernanke’s exit strategy won’t work: In his Journal piece, Bernanke re-affirmed his Phillips Curve bona fides with his suggestion that once “recovery takes hold”, there could be “an inflation problem down the road.” To restrain future inflation, the Bernanke Fed “will need to tighten .. read more

Market Research

Alhambra Investments provides free unbiased market research for subscribers and browsers alike. If you’d like to learn more about the markets and the economy, explore alternative assets to invest in, or get an in-depth look at our valuable market commentary and research, click on the links below. Market Commentary: We provide commentary on the global markets and various sectors, as .. read more

On July 29th, 2009, posted in: Markets by 2 Comment

Why I’m Not Worried About Peak Oil

I do not believe we are running out of carbon based fuels anytime soon. Peak oil is a myth because even if oil is a finite resource (more on that later), it seems likely that some new technology will come along to replace it long before it runs out. Never underestimate the ingenuity of humans. .. read more

The Unpopular Fed

I’ve been accused of being obsessed with the Federal Reserve and I guess to some degree, I am. I see the Fed as the biggest obstacle to real reform of our economic system. I don’t care what you do to treat the symptoms of our economic disease, if you don’t get rid of the cause, .. read more

Blaming the Messenger

Commodity speculation is in the news again. The Obama version of the CFTC is apparently about to issue a report blaming the volatility of oil prices on “index speculators” (via Market Watch): Speculators’ index trading is “creating price disruptions for producers and consumers,” said Sen. Carl Levin, D-Mich., late last month after the release of .. read more

Caution

I hesitate to write this since I heard it so much today on CNBC, but the market is quite overbought here. That’s a term that gets tossed around a lot without much definition, so let me take a stab at actually defining the term. What it means is that the market has moved up at .. read more

On July 27th, 2009, posted in: Economy by Tags: ,

Market Sentiment

Usually when I measure market sentiment, I look at what individual investors are saying about the market. When the majority of individual investors are bearish, I tend to be bullish and vice versa. Institutional investors are a different animal although they do tend to move in herds just like the individual. These investors biggest concern is .. read more