August 4, 2024 | Everybody Knows

Everybody knows that the dice are loaded Everybody rolls with their fingers crossed Everybody knows the war is over Everybody knows the good guys lost Leonard Cohen – Everybody Knows Having heard this Leonard Cohen classic on the radio a few days ago, the lyrics have been rattling around in my head as a perfect […]

August 3, 2024 | Trading Desk Notes for August 3, 2024

With the NAZ down ~12% since the July 11 record highs, do we bounce or keep falling? The NAZ closed lower for four consecutive weeks and closed this week at 18500 (which may be an essential support level), the lowest close since May 14. Perspective: At the July 11 highs, the NAZ was up ~20X from […]

August 3, 2024 | This Week in Money

• Ross Clark:  Stock Market Downturn. Special Offer! 25% Off New Annual Subscriptions.
• Tim Wood: (13:56) Dow Theory Alarm Bells, Major Correction?
• Martin Straith: (20:38) Stock Market, Nvidia.
• Robert Campbell: (55:10) US Real Estate, Housing Bubble.

August 2, 2024 | American’s #1 Financial Problem in One Chart

  In April 2024, a record 41% of those surveyed claimed that the high cost of living/inflation was their #1 financial issue – up from the previous record highs of 35% in 2023 and 32% in 2022. At 14%, the high cost of owning or renting a home was the 2nd largest financial issue. Negative […]

August 2, 2024 | Stocks Paying the Price for Being Hugely Over Bought

The case for Junior Gold miners and quality corporate bonds

August 1, 2024 | Digital Ruble 2025

  Russia has announced that it will implement a digital ruble by next July. Moscow will begin using cryptocurrency for some foreign transactions to bypass sanctions and SWIFT. As of November 2024, Russia will permit crypto mining, so long as it is carried out under the watchful eye of the government. The Bank of Russia […]

August 1, 2024 | Flat Earnings Take Toll on Stock Markets

Market sell off into the fall likely.  Receive 50% Off VR Trader Newsletters! Enter Promo Code 2022HALFOFF.

August 1, 2024 | Gold The Place To Be For So Many Reasons

The shine is coming off AI

July 31, 2024 | Study: Canadians Experiencing Worst Standard of Living in 40 Years

The Fraser Institute conducted a study that found Canadians are experiencing the worst standard of living in the past 40 years. Conditions are beneath what was experienced during the 89 recession, the Great Recession, and even the early stages of the post-pandemic. What is going on in Canada? Justin Trudeau uprooted Canada’s fiscal landscape and […]

July 30, 2024 | The Most Splendid Housing Bubbles in America, July 2024 Update. Below 2022 Peak: San Francisco, Seattle, Phoenix, Portland, Denver, Dallas, Las Vegas. New Highs: Miami, Los Angeles, San Diego…

The S&P CoreLogic Case-Shiller Home Price Indices, released today for “May,” are three-month moving averages of home prices in 20 metropolitan areas whose sales were entered into public records in March, April, and May. So that’s the time frame. Over this period, home prices in all 20 metros increased from the prior month, in most […]

July 29, 2024 | Cash Flow Problems

Happy Monday Morning! As expected, the Bank of Canada slashed rates another 25bps this past week. It was a dovish press conference, with Tiff emphasizing excess supply in the economy. In the words of the BoC, economic growth likely picked up to about 1.5% through the first half of this year. However, with robust population […]

July 28, 2024 | From the Archives: How to Short Stocks – Is it finally time??

First, the FAANG stocks (Facebook, Apple, Amazon, Netflix, and Google) were going to rise forever. Then they morphed into the “Magnificent 7” which many believe will ride the AI boom to infinity and beyond. Either way, the result is a wildly unbalanced market (and economy) supported by a tiny group of multi-trillion-dollar companies. We’ve seen […]

July 27, 2024 | Trading Desk Notes for July 27, 2024

Reversion to the mean continues across key markets Big-cap tech stocks fuelled a ~50% rally in the NAZ (~39% in the S&P) from October to July; their recent weakness contributed to the NAZ falling ~10% (S&P ~5%) from record highs. The MAG7 market cap is down ~$2 trillion (~12%) since July 10.   The Russell 2000 […]

July 27, 2024 | This Week in Money

• Ross Clark:  Stock Markets, Tech Stocks, Gold, Silver, Canadian Dollar. Special Offer! 25% Off New Annual Subscriptions.
• Allan Angell: (11:13) Vancouver High End Real Estate, Real Estate Investors Selling
• Wolf Richter: (37:33) Stock Markets, Housing Market, Automotive Sector

July 26, 2024 | A Worried Bank of Canada is Cutting Interest Rates

Central bankers in Canada went out on a limb by cutting a key interest rate this week. The Bank of Canada cut its benchmark rate for the second time, by 0.25 percent to make a full ½ point reduction this year. The most powerful central bank, the U.S. Federal Reserve, has yet to make its […]

July 26, 2024 | Tech Stocks Drop World Wide

The love affair with junk bonds is over

July 26, 2024 | Large Upward Revisions of “Core Services” PCE Inflation Pushed Six-Month “Core” PCE Inflation to 3.4%, Worst in a Year

The revisions, the upward revisions, oh-la-la! The Bureau of Economic Analysis released today the PCE price index for June; and as part of it, the “core” PCE price index – the Fed’s primary yardstick for inflation – was revised substantially higher for May, driven by a large upward revision of the “core services” PCE price […]

July 25, 2024 | WTI Falls >US$4/b Over The Last Week To US$77.30/b On Weakening China Demand

The ending of President Biden’s candidacy for a second four year term has emboldened the Democrats that they could win the Presidency and end the worry of a clean sweep (Presidency, House and Senate) by the Trumpers. By endorsing Kamala Harris, Biden passes the torch to his VP and ensures that the campaign funds raised […]

July 25, 2024 | Is it Time to Take Defensive Investment Positions?

Aerospace stocks are taking off. Receive 50% Off VR Trader Newsletters! Enter Promo Code 2022HALFOFF.

July 25, 2024 | Rising Unemployment Now Bank of Canada’s Biggest Concern

Is a US Recession in motion?

July 25, 2024 | Is it Possible the Bull Rally is Over?

Crude’s expected break out peters out

July 25, 2024 | Are the BRICS Closer to a Gold Backed Currency?

Our overpaid politicians keep letting us down

July 24, 2024 | Housing Is Seriously Rolling Over

Let’s start with the fact that the average American can’t afford the average house. Not even close: Houses have been unaffordable for a while, but for a while, “investors” — i.e., private equity companies with access to cheap credit — took up the slack, sometimes buying entire neighborhoods and converting the houses to rentals. Now […]

July 23, 2024 | Early Sign of a Downturn in CA Home Prices

    Everybody knows where we’ve been.  Let’s see where we are going. History shows that extremely low housing affordability in CA tends to precede market downturns, as occurred in 1980, 1989, and as shown below, 2006.                I see no reason why this time will be any different. But Fear Not, Fellow Investors In […]