Until the electronic run on Cypress banks is revealed, we've really no picture #$%$ is happening there really. Italy in the toilet Thursday, the swirling flushed waters of Euro sludge remain, but like a kid with ADD, we leap from headline to headline ignoring last weeks pop in unemployment and countless coll grads underemployed in Walmart nation. So be it. You don't argue with the herd. Predicting the bull run? Look at history.
History says another 20 percent, and silver and gold are not the places to be.
I hold my core position in silver with options sold against. Eventually that may make some money but, not yet, not yet.
Auto sales and construction spending rule the roost, but auto is the new house buy, and new construction should be flat to down. Will anybody care?
Now that is the question.
Date Time (ET) Statistic For Actual Briefing Forecast Market Expects Prior Revised From
Apr 1 10:00 AM ISM Index Mar - 54.5 NA 54.2 -
Apr 1 10:00 AM Construction Spending Feb - 0.4% NA -2.1% -
Apr 2 10:00 AM Factory Orders Feb - NA NA -2.0% -
Apr 2 2:00 PM Auto Sales Mar - NA NA 5.5M -
Apr 2 2:00 PM Truck Sales Mar - NA NA 6.7M -
Apr 3 7:00 AM MBA Mortgage Index 03/30 - NA NA NA -
Apr 3 8:15 AM ADP Employment Change Mar - 200K NA 198K -
Apr 3 10:00 AM ISM Services Mar - 55.0 NA 56.0 -
Apr 3 10:30 AM Crude Inventories 03/30 - NA NA NA -
Apr 4 7:30 AM Challenger Job Cuts Mar - NA NA 7.0% -
Apr 4 8:30 AM Initial Claims 03/30 - 340K NA NA -
Apr 4 8:30 AM Continuing Claims 03/23 - 3050K NA NA -
Apr 4 10:30 AM Natural Gas Inventories 03/30 - NA NA NA -
Apr 5 8:30 AM Nonfarm Payrolls Mar - 185K NA 236K -
Apr 5 8:30 AM Nonfarm Private Payrolls Mar - 210K NA 246K -
Apr 5 8:30 AM Unemployment Rate Mar - 7.8% NA 7.7% -
Apr 5 8:30 AM Hourly Earnings Mar - 0.2% NA 0.2% -
Apr 5 8:30 AM Average Workweek Mar - 34.5 NA 34.5 -
Apr 5 8:30 AM Trade Balance Feb - -$46.0B NA -$44.4B -
Apr 5 3:00 PM Consumer Credit Feb - $12.0B NA $16.2B
ADP employment 158000 not predicted 215000, refi mortages down but new home purchase requests up, the market doesnt have enough negative bias to affect PM yet, but general market has backed off a s
My fave the Russell 2000sell to took an undeserved drubbing yesterday as markets hid in the S AND P insead.
Today looks flatish, Europe is mired in Recession,
Poor employment numbers, more people on disability than ever (it beats minimum wage), the discouraged worker...all of it promises more spike to the punch bowl. I'm not here for the brew anyway, just the chicks.
Cyprus should not. With a nod to the stupidity of EU folks, who didn't explain, an "uninsured depositor" IS by economic definition, a guy who backs the bank in order to receive high interest--nobody in EU bothered to differentiate from the insured holder, who has an FDIC arrangement with the EU and should be held innocent--as a matter of fact, they were so stupid, they pressured the wrong guys.
So nobody should feel bad for the uninsured depositors, they took the risk.
If you've watched any of the NCAA March Madness Tournament you've no doubt seen the Enterprise Leasing commercials where college grads, with a sports focus it is supposed to seem, are heavily recruited by Enterprise for those lifelong fulfillment positions in the rental car industry. They'll even pick you up! There's a chance it'll be a BA, BC or even more BS.
You are a bit “conservative” of the Fed’s money printing. Most are putting the figure at 85 billion$, not 50.
Unfortunately it looks like going forward we are not going to get the opportunity to elect, on balance, honest people to political office. What is needed is to start throwing all the financial criminals in jail that are currently free to do as they please in violation of the law.
There was a brief time in the 80’s when banksters were actually thrown in jail. Maybe resurrecting Robin Hood to rid us of all the crooked Sheriff’s of Nottingham would be a great idea to return the country to some fiscal sanity. The only problem with that approach is a matter of culling those who acquired their fortunes honestly in contrast to the bankster class who never get identified by mass media sources. A good start would be to put Jon Corzine behind bars.
And in that environment the fact that AU and AG are anemic defies logic. So, there's something else afoot that is perverting reality. We need to figure out what specifically it is and try to profit from it before Nibiru/Tyche/Wormwood comes into view in June. After that, it all will be a crapshoot.