The Morning Call--10/14/13

The Morning Call

10/14/13

The Market

           

    Technical

      Monday Morning Chartology

   

            The S&P gave a head fake to the downside, then crucified the shorts.  It is back in its short term uptrend

            Look at this chart of the long Treasury and compare it to the S&P above.  Who has their story wrong?

            GLD broke below the neckline (green line) of the head and shoulders formation---not good.  Making matters worse, it remains within very short term, short term and intermediate term downtrends.

            The VIX continues to gyrate within a short term trading range.

            Update on ‘the best stock market indicator ever’:

            http://advisorperspectives.com/dshort/guest/Carlucci-Short-Update.php

    Fundamental

  

            The latest from Barry Ritholtz (long but worth the read):

            http://www.forbes.com/sites/wallaceforbes/2013/10/11/invest-as-if-the-sun-is-coming-up-tomorrow/

The growing pile of money available for prop trading (medium):

            http://www.zerohedge.com/news/2013-10-11/jpm-prop-trading-dry-powder-rises-all-time-high-550-billlion

       

      News on Stocks in Our Portfolios

 

Economics

   This Week’s Data

   Other

            The dollar as a reserve currency (medium):

            http://www.zerohedge.com/news/2013-10-13/guest-post-how-much-longer-will-dollar-be-reserve-currency

Politics

  Domestic

  International War Against Radical Islam

Steve Cook received his education in investments from Harvard, where he earned an MBA, New York University, where he did post graduate work in economics and financial analysis and the CFA Institute, where he earned the Chartered Financial Analysts designation in 1973. His 40 years of investment experience includes institutional portfolio management at Scudder, Stevens and Clark and Bear Stearns. Steve's goal at Investing For Survival is to help other investors build wealth and benefit from the investing lessons he learned the hard way.