10 August is stock option expiry, the remark volatile week ahead is followed by "compared to what" considering last weeks computer trading assisted 750 point swings. Housing starts/permits BETTER suck, we don't need no stinkin increased inventory. PPI should drop, core PPI should drop, crude inventories should improve with lower prices last week and weeks to come. Initial and continuing claims around 400K should not be a market mover. 401K's are being put into cash at huge rates, there's a TRILLION in cash coffers large corporations as buffer. If money ever gets to joesixpac the economy may improve, but it looks like all our money is going to banks, and the Fed is the only one left to goose this forward. Congress does not have the will, so welcome to Japan.
Ben's helicopter only stops at Bank of America, not backyards.
Date Time ET Stat For Actual Briefing ForecastMkt ExpectsPriorRevisedFrom
Aug 15 8:30 AM Empire Manufacturing Aug - 0.0 -0.4 -3.76 -
Aug 15 9:00 AM Net Long-Term TIC Flows Jun - NA NA $23.6B -
Aug 15 10:00AM NAHB Housing Mkt Index Aug - 15 15 15 -
Aug 16 8:30 AM Housing Starts Jul - 575K 608K 629K -
Aug 16 8:30 AM Building Permits Jul - 600K 606K 624K -
Aug 16 8:30 AM Export Prices ex-ag. Jul - NA NA 0.0% -
Aug 16 8:30 AM Import Prices ex-oil Jul - NA NA -0.1% -
Aug 16 9:15 AM Industrial Production Jul - 0.1% 0.4% 0.2% -
Aug 16 9:15 AM Capacity Utilization Jul - 76.6% 77.0% 76.7% -
Aug 17 7:00 AM MBA Mortgage Index 08/13 - NA NA +21.7% -
Aug 17 8:30 AM PPI Jul - 0.1% 0.0% -0.4% -
Aug 17 8:30 AM Core PPI Jul - 0.2% 0.2% 0.4% -
Aug 17 10:30AM Crude Inventories 08/13 - NA NA -5.225M -
Aug 18 8:30 AM Initial Claims 08/13 - 400K 400K 395K -
Aug 18 8:30 AM Continuing Claims 08/6 - 3700K 3698K 3688K -
Aug 18 8:30 AM CPI Jul - 0.2% 0.2% -0.2% -
Aug 18 8:30 AM Core CPI Jul - 0.2% 0.2% 0.3% -
Aug 18 10:00AM Existing Home Sales Jul - 4.70M 4.87M 4.77M -
Aug 18 10:00AM Philadelphia Fed Aug - 0.0 1.0 3.20 -
Aug 18 10:00AM Leading Indicators Jul - 0.2% 0.2% 0.3% -
400k unemployed should not be a market mover.
Well, 410K is definately a market mover. Everything is collapsing except the POS, and the miners are leading the metals the wrong way. 4.5% down in the general market is more scary than the volatile nonsense of last week, this time it isn't computer generated flash crashing, it's slow and steady arterial spurts with no bottom in sight.
20% from the peak, I call this a recession on the way to Depression, the other side of the W techshmucker DIDN'T call, so it must be real.
may the shorts be with you.
"Housing starts/permits BETTER suck, we don't need no stinkin increased inventory." Dead bang.
Now with business increasing (.9% vice predicted .4) we should get a big selloff from the dufus' that think new housing matters, and Europe matters, with a "hey we're not doing that badly" rebound of at least half the drop.
Unless of course we trigger program trading again, then it's off to the drop till it stops.
Silver, which is industrial by half its nature, will drop and then wind up about 1% lower at the end of today's trail, if that matters to the buy and hold crowd.
Down two percent at the low, a little more than one percent at the close, hit that one, looks like we didn't trigger anybody's flash crash programs.
Europe is a mess, but Japan gets to follow through tonight as normal, dipping on US market results. Our futures look sucky, but mild so far on the downside.
PPI should provide a looksee if the costs of material in all that industrial production followed upward, nice if it didn't. Consumer sentiment may suck, but the people who are griping are practicing the old medium, when the going gets tough, the tough go shopping. Go figure.
Silver and gold are mildly slipping tonight,but the miners are leading the metals again downward.
Not a good sign when SLW and ZSL sell off together--ZSL finished 16 cents below FMV, an anomoly.
What are your thoughts on selling covered calls on SLW under current market conditions. I've got some 40's and 42's expiring friday....and would like to generate some cash for septemeber. I usually don't go out more than 1 month, because in these conditions I don't think the risk is worth the reward. Any ideas?