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<strong>COMMODITIES IN A SECULAR BULL MARKET</strong> We believe that the commodity market entered a secular bull market right around the same time that the equity market entered its secular bear market ? a tad later actually, in November 2001. Not surprisingly, the last secular bear...

For the technical junkies out there. (R - Resistance, S - Support) Reverse Head and Shoulder & Ascending Triangle Formation Watch for a breakout to 1050 and intermedium term target 1150, near term support 925-950, if it breaks below that level, money could be made on the short...

<strong>The FOMC Statement... Leaves Us Hanging A Bit</strong> The initial read on the FOMC policy statement is that there is at least one subtle difference from the August 11-12 policy statement. 1. The Fed repeated that it expects to ?maintain the target range for the federal funds...

<strong>Rates will stay low for the next 18-24 months </strong> Bank of Canada?s chief Mark Carney is on the wires saying that the U.S. recovery is going to be ?uneven? for the next 18 months. So expect rates to stay low for at least that long and one has to wonder what the outlook is...

?FDIC could seek bailout from banks - Yahoo! Finance , FDIC can either get money from the member banks or tap its 100bn line of credit with Treasury (Oh, just tap into the Treasury, everyone else has lately, right?) ?Weekly US Railroad Carloading Decline Accelerates, Hits 1993 Levels - The...

? It?s quite the active week ahead. We have the G20 meeting on September 24- 25 in Pittsburgh where investors will be watching for any clues over how global bank regulation in the future is going to look (executive pay curbs, de-linking commercial and investment banking, more stringent...

IMF to Proceed with Limited Sales of Gold "The Board approved the sale of up to 403.3 metric tons, or about one-eighth of the Fund?s total gold holdings. " http://www.imf.org/external/pubs/ft/survey/so/2009/POL091809A.htm

I know fundamentals hardly matter in today's market, but still want to put things in perspective after 6mos rally; ? The trailing price-earnings ratio on operating EPS is 26.5x. At the October 2007 highs, it was 18.8x. In addition, when the S&P 500 is trading north of a 26x P/E multiple...

WHO IS DOING THE BUYING? Is it the private client? Not really ? stock funds actually had net outflows of $1.33 billion last week, while bond funds enjoyed an $8.2 billion net inflow. Is it corporate insiders? Well, heck no ? Robert Toll (CEO of Toll Brothers) just disclosed that he...

Excellent lunch time reading from David Rosenberg (Ex Merrill Chief Economist) MR. MARKET IS ON STEROIDS Not much more to say. The S&P 500 is now up more than 60% from the lows, which is truly amazing and kudos to those who called it. But the question is whether the fundamentals...

Equities continued to rise as today?s economic data supported yesterday?s comment by Fed Chairman Bernanke that ?the recession is very likely over.? The S&P500; gained 1.5%, and was led by financials (REITs) and the energy sector. CPI data showed that headline consumer prices were slightly...