25-29 Nov Eco Calendar: Homes Built vrs Declining Prices/Claims Mislead/Mid East Iran No Nukes
No Nukes for Iran, agreement to agree 24 Nov, should blast market forward, but those pesky home sales and valuations run headwind into that 100 basis point pop in full bloom this week, not to mention seasonal slackdown everyone's forgotten these past 20 years. My neighborhood already took one percent off the price top. Dysfunctional families will brave rains 27 Nov to gather and give each other indigestion 28th, crushing arteries and spirits everywhere. Mkts are closed because there's only so much dissolution you can stand, closed even half day Friday to give more time for the Pepto to work.
This week's govt sponsored mythology is below. It's not what's real--it's what's believed and how marketeers behave that counts. Keep watching the skies.
Nov 25 10:00 AM Pending Home Sales Oct - 1.0% 1.3% -5.6% -
Nov 26 8:30 AM Housing Starts Sep - 900K 915K 891K -
Nov 26 8:30 AM Housing Starts Oct - 915K 920K NA -
Nov 26 8:30 AM Building Permits Sep - 930K 932K 918K -
Nov 26 8:30 AM Building Permits Oct - 930K 932K NA -
Nov 26 9:00 AM Case-Shiller 20-city Index Sep - 13.0% 13.0% 12.8% -
Nov 26 9:00 AM FHFA Housing Price Index Sep - NA NA 0.3% -
Nov 26 10:00 AM Consumer Confidence Nov - 74.0 72.4 71.2 -
Nov 27 7:00 AM MBA Mortgage Index 11/23 - NA NA -2.3% -
Nov 27 8:30 AM Initial Claims 11/23 - 335K 330K 323K -
Nov 27 8:30 AM Continuing Claims 11/16 - 2875K 2875K 2876K -
Nov 27 8:30 AM Durable Orders Oct - -3.0% -2.2% 3.8% 3.7%
Nov 27 8:30 AM Durable Goods -ex transportation Oct - 0.3% 0.2% -0.2% -0.1%
Nov 27 9:45 AM Chicago PMI Nov - 58.0 58.0 65.9 -
Nov 27 9:55 AM Michigan Sentiment - Final Nov - 73.5 73.0 72.0 -
Nov 27 10:00 AM Leading Indicators Oct - -0.1% -0.1% 0.7% -
Nov 27 10:30 AM Crude Inventories 11/23 - NA NA 0.375M -
Nov 27 10:30 AM Natural Gas Inventories 11/23 - NA NA -45 bcf -
Unreliable housing PERMIT data jumped 6.1%, but the reality of housing "START" data is being held back one month allegedly because of the govt shutdown, talk about manipulation in favor of general market longs. Another reason for cliffhanger nonsense for the Dec FOMC meeting, and option players ending December, but long enough for govt to play with "last months" numbers right then and there in that "current" December reporting period. Concurrent with that news is news about "Men's Wearhouse" so I can't resist--"you're going to like that housing price data" due out in about half hour 0900 EST, because it doesn't reflect the November downturn in housing prices YET--you have to go to zillow to check that out for a couple three neighborhoods.
Kitgo through the tulips--silver down 1%, and yesterday it was up nearly 2% and SLW fell a bunch. That's an inbalance and allows you to nibble. GLWT, and there's a chance you'll get it.
You have repeatedly echoed Obama/media spin on everything while pretending to be nonpolitical ( or are you actually that clueless?). Like when you hastened to blame that film no one had ever heard of for the clearly planned 9/11 al Qaeda attack on our Benghazi consulate.
In fact Iran gets to CONTINUE enriching uranium but supposedly at a lower rate. In exchange, sanctions will be relaxed and they can now get the hard currency they need.