Downdraft ContinuesThe stock market has been down 8 out of the last 10 days and I think we have more to go. I discuss my reading on it in tonight’s video. I also look at three of the biggest percentages losers of the 38 very active stocks I follow. Continue reading
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MacauIt is said that games of chance have been a part of Chinese history for 3500-4000 years. Yet the only place in China where it is legal to gamble is Macau. Macau is across the water, west of Hong Kong. Its population is around a half million people but Macau’s economy is exploding. Its economy is heavily dependent on gambling and tourism and is growing at twice the rate of China. Continue reading
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Budget Agreement?It’s Deja Vu all over again. This evening an apparent budget agreement was announced by the bi-partisan team working on this, headed by Rep. Paul Ryan and Senator Patty Murray. But it still needs to be passed by the House and Senate. The shots started firing immediately. And of course there is still the debt ceiling issue in February. Continue reading
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Deep FreezeWell, its Sunday afternoon and we are still in the deep freeze here in the Dallas area. It’s been below freezing since Thursday afternoon at 2pm…ice and snow everywhere…it’s a mess. We just don’t have the equipment to deal with this kind of weather down here.
On the positive side it is supposed to get above freezing for a couple of hours this afternoon, but as of 2:00 pm it’s still 30 degrees. Of course if it does get above freezing then it melts and re-freezes tonight. Old Man Winter decided to come early to Texas via the Canadian Express!!
There are a couple of interesting articles on MarketWatch that you might want to check out. The first one is called the Ghost of 1929 crash reappears. This article talks about a chart that compares the last 18 months prior to the peak of the stock market in 1929, to our current situation. The charts eerily resemble each other. Apparently Tom DeMark, a legendary technical analyst, discovered this correlation and passed it to Tom McClellan of the The McClellan Market Report. Continue reading
The financial websites are saying the market is selling off due to Fed uncertainty. Honestly I think they don’t know what else to call it. We are back to good news on the economy is probably bad news, as it means the Fed will taper their bond buying program and start to slow down the injection of money.