The ‘taper’ chatter is under wraps for the moment with the 10 year yield dropping the last few days and economic data dribbling in less than stellar. Have you heard that US consumer confidence is falling? How about that US home price growth is slowing?
So far, Kabuki Dance #3 has not produced the same effect as #’s 1 and 2 for the leading BKX-SPX ratio. ‘The same effect’ would be great media hysteria and negative market action followed by a decision by authorities that was in the bag the whole time and a miraculous and predictable market rebound.
In a small and separate trading account I have calls on the top thing and puts on the bottom thing. The account is small and separate so I do not have to look at it too much and out think myself.
Silver needs to hold support and the Homies need to lose it. We’ll see how it goes.
Ready for Year-End Fiscal Cliff Drama? Doug Noland 12.3.12
Much Ado About Noise Adrian Ash 12.3.12
How to Build a Time Machine John Hussman, Ph.D. 12.3.12
Storm Front Approaching the Homebuilders Acting Man 12.3.12
Recent Asset Class Performance B.I.G. 12.3.12