• The Nemenoff Report Bonds Higher, S&P's Lower, Silver Lower

    Dec. Bonds are currently 10 higher at 145'08 and the 10 Yr. Notes 5 higher at 132'02. On last Thursday the Fed announced another round of "Quantitative Easing" with the proposed purchasing of up to 40 billion dollars woth of Mortgage Backed Securities on a monthly basis. The market reacted to this by breaking the Bond market from the 147'00 level to the low 144'00's because of the inflationary implications of such an action. In the face of this short term instruments rallied...
  • Ford Motor Co.'s Emblem

    CAW Chooses Ford In Effort To Secure Pattern Contract

    The Canadian Auto Workers, or CAW, will concentrate on the Ford Motor Co. (NYSE: F) as it attempts to negotiate a collective-bargaining agreement in the roughly 24 hours left before its fast-approaching strike deadline on Monday at 11:59 p.m. EDT.
  • Dollar Trends Lower while Crude, Gold and S&P 500 Bid Higher

    S&P 500 - Prices have broken through potential resistance around the May 20, 2008 high and seemed to have stalled around the upper portion of the ascending parallel trend channel (grey line) around 1464.40. A break above the 1464.40 area may find resistance around the December 27, 2007 high at 1523.60. Alternatively, if prices trade lower from current levels then possible support near the 1440.20 level which was previous resistance may act as a future possible floor of support. The next areas of...
  • S&P warns on Gold miner profitability

    S&P's latest report is titled "High Prices Mask a Difficult Future for Gold Miners." The implication her is that S&P believes that Gold miners could face pressure on their underlying credit ratings to the point that new projects are curtailed, investment is reduced, dividends could be cut and many operations could be shut down entirely.
  • The Nemenoff Report Bonds Lower, S&P's higher, Silver Higher

    Dec. Bonds are currently1'02 lower at 147'22 and the 10 Yr. Note 11 lower at 132'14. Germany is likely to allow participation in the ECB proposed Bond buying program of up to 3 year maturities issued by troubled members such as Spain, Italy and Greece to prevent rates from those nations rising too dramatically. This has removed some of the "flight to safety premium" that has kept U.S. Bonds at record low yields. The next item to watch for will be the FOMC announcement tomorrow and...
  • India’s Nuclear Power Conundrum: Energy Needs Vs. Safety Concerns

    India currently has 20 operational nuclear power reactors in India in six states. Seven more plants are under construction and at least 36 more projects are on the drawing board.
  • The Nemenoff Report Bonds Lower, S&P's Lower, Silver Lower

    Dec. Bonds are currently 10 lower at 148'31 and the Dec. 10 Yr. Note about unchanged at 133'00. Wed. and Thurs. the FOMC will have a two meeting and the market is currently divided as to whether there will be an announcement of another round of Quantitative Easing. According to polls that I have recently read, 60% of economists surveyed thought that the Fed will do another round of "Easing". Personally, I think at current levels another round of easing will have little effect. That b...
  • Gold Bulls Have Made Their Decision, S&P 500, Dollar Not as Clear

    Prices rallied to 1,439.10 which was just one point shy from a high established on May 20, 2008 and closed the week at 1,438.90. Moreover, the previous resistance high at 1,440.20 is also in line to converge with the (light-blue) ascending resistance line which could also serve as a potential sticking point at around the 1,456.70 area. A push through these barriers leaves little resistance in the way which could expose 1,576.10, matching the all time high. Alternatively, price action could range...
  • Mariano Rajoy

    Draghi's ECB Announcement - Spain A Stealth Loser, Italy A Silent Winner

    While pundits and analysts dissected a myriad angles regarding the ECB's proposal, one lesser-considered issue has been how, following the announcement of the plan Thursday, it increasingly seemed Spain was being given the short end of the stick, while Italy was being favored, by the announcement.
  • The Nemenoff Report Bonds Lower, S&P's higher, Silver Higher

    Dec. Bonds are currently 27 lower at 150'00. As expected the ECB has left rates unchanged. This morning ECB President Mario Draghi announced that the ECB will be purchasing Bonds with up to a 3 year maturity in an effort to keep rates from troubled economies such as Greece and Spain from getting out of hand. Basically he will do whatever it takes to preserve the Euro while recognizing the systemic problems and the continued possibility of recession and deflation. The ADP Private Sector Jobs R...
  • US Auto Sales

    US Car Sales Indicate Economic Recovery in August

    Global carmakers reported robust sales growth in August, indicating improving consumer sentiment and demand by small businesses and contractors. Companies including Ford Motor Company (NYSE: F), General Motors Company (NYSE: GM), Honda Motor Co. (NYSE: HMC) and Toyota Motor Corporation (NYSE: TM) all reported major gains.
  • A customer looks over Toyota automobiles at a dealership in Daly City, California

    US August Car Sales - Live Blog: Will Buyers' Love Of Trucks Trump Economic Fears?

    Global automakers report August U.S. car sales, Tuesday. Follow the blog for the latest updates from Chrysler, Ford Motor Company (NYSE: F), General Motors Company (NYSE: GM), Nissan Motor Co. (Tokyo: 7201), Honda Motor Co. (NYSE: HMC), Volkswagen AG (Frankfurt: VOW) and Toyota Motor Corporation (NYSE: TM).
  • Lamborghini Seeks Reinvention With Urus and Gallardo Successor

    Lamborghini, a subsidiary of Volkswagen AG (Frankfurt: VOW), may seek to reinvent itself as it plans a successor to the popular Gallardo and works to bring the Urus SUV concept to market.
  • Sears

    Sears, Former American Icon, Will Be Kicked Off S&P 500

    Sears Holdings Corp. (Nasdaq: SHLD), which revolutionized retail in the 20th century with its mail order catalogs. will be removed from the S&P 500 Index at the end of Sept. 4, according to Standard & Poor's, after struggling to lure consumers amid the weak economy.
  • The Nemenoff Report Bonds Higher, S&P's Lower, Silver Lower

    Dec. Bonds are currently 10 higher at 150'02 carrying a 28 tick premium to the Sept. contract. The Dec. contract will be considered lead month as of Friday Aug. 31st. Over the last 10 days we have been trading the Sept. contract from the long side on sharp breaks and taking profits above the 147'28 level as the market rallied on hopes of another round of stimulus. We are currently on the sidelines. At current levels I am changing my bias to the sell side of the market on rallies above the ...
  • The Nemenoff Report Bonds Higher, S&P's Lower, Silver Higher

    Sept. Bonds are currently 11 higher at 147'30 and the 10 Yr. Notes 7 highr at 133'17. This morning's Weekly Jobless Claims report showed an increase in claims of 4,000 vs. expectations of a drop of 3,000. Yesterday's release of the FOMC minutes showed continued concern over the unemployment rate, expectations of continued low inflation and economic growth and continued extention of low interest rates beyond 2014. "Many" of the participants voiced a willingness for another round...
  • Daily Trading Report for S&P by CharmerCharts

    So the August spoof began....Stops took S&P from 1419 to 1424, and then finally, we saw some wake up from traders laying onthe beach, and they all sold. We have had a reversal day, all timeframe charts have turned bearish, and I do think from here weshould now trade lower...
  • The Nemenoff Report Bonds Lower, S&P's higher, Silver Higher

    Dec. Corn is currently 5 cents higher at 829'0, Nov. Beans 29 cents higher at 1713'0 and Dec. Wheat 5 cents higher at 908'0. Beans are on new high ground due to good export demand. Yesterday afternoon's crop progress report shower 23% of the Corn crop in good to excellent condition, unchanged from last year. 51% of the crop is poor to very poor, unchanged from a week ago. 17% of the crop is mature vs. a 5 year average of 4% indicating an early harvest as this reflects the early plant...
  • The Nemenoff Report Bonds Higher, S&P's higher, Silver Higher

    Sept. Bonds are currently 2 higher at 146'06 and the 10 Yr. Notes unchanged at 132'18.5. Yields have risen to 2.86% on the 30 Yr. Bond and 1.80% on the 10 yr. Note from 2.5% and 1.4% respectively. Over night Bonds made a new recent low of 145'12 slightly more than 2'00 below Tuesday's stated support of 147'20. Being long the Bonds in my opinion had become an over crowded trade with many participants on the long side of the market, there because of safety and quality issues. Lik...
  • Dell Gets Bashed By S&P ‘Bearish’ PC Outlook

    Wall Street powerhouse Standard & Poor’s lowered its opinion of Dell (Nasdaq: DELL), the No. 3 PC maker, because it’s becoming “more bearish of the PC industry in general,” the ratings agency said Wednesday. It trimmed its 12-month target price for Dell shares to $14 from $15.