May 30, 2012 - Quote of the Day
?A lot of new economics involves the reading of a lot of old books,? said Nobel Prize winning economist Paul Krugman.
Entries by DougD
What Hot?and Not
My friend, Tom Dorsey of the technical research boutique Dorsey Wright, inundates me daily with a never ending stream of market sensitive data which has been helping me make some of my more successful market calls. For example, when the S & P 500 hundred broke 1,380 in April, he completely nailed the 1,280 bottom
Playing at the Deep End With the Euro
I never wanted to join any club that would have me as a member. That is the little nugget of wisdom comedian Groucho Marx imparted to me during his visit to the UCLA campus 40 years ago. It is also what came to mind when I saw the shocking Commitment of Traders Report for Euro
May 29, 2012 - Quote of the Day
?Europe has been diagnosed with cancer and they are attempting to treat it with massage, yoga, and carrot juice. If they go into recession, that affects us,? said Michael Farr of Farr, Miller, & Washington.
My Tactical View of the Market
The easy money has been made on the short side this year for a whole range of asset classes. While we will probably see lower lows from here, the risk/reward ratio for taking short positions in (SPX), (IWM), (FXE), (FXY), (GLD), (SLV), (USO), and (CU) are less favorable than they were two months ago. Of
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May 25, 2012 - Quote of the Day
?I would love it if they only allowed me and a whole bunch of psychotic drunks to trade in stocks. I would get very rich,? said Oracle of Omaha, Warren Buffett, about the European debt crisis.
Dinner With Nobel Prize Winner Paul Krugman
The first thing I noticed when Paul walked in was the few extra pounds and silvery tinge to his hair he acquired since I saw him last. He?s clearly spending too much time behind a computer writing those acidic columns for the New York Times. We?re all short dated options in the end, I thought.
May 24, 2012 - Quote of the Day
?Green pictures of dead presidents suddenly have a lot of appeal,? said Art Cashin of UBS Securities.
Japan Downgrade Sends Yen Reeling
The next step has been taken in the coming Japan crisis. American ratings agency, Fitch, has downgraded Japanese government debt to A+, with a negative outlook. The move cut the knees out from under the country?s dubious currency, sending it down sharply. Fitch expects the country?s debt to reach a nosebleeding 240% of GDP by