MBA Mortgage Applications Fell 2.0%
MBA mortgage applications fell 2.0%; Prior reading was a fall of 7.5%; On year level MBA Basic Index is down 11.3%.
Archive for April, 2011
Daily Reading – Wednesday, April 5, 2011
*** The Slope Of Hope: Will This Breakout Be Different? ***
*** The Slope Of Hope: The Bull Market That Won’t Quit ***
*** The Slope Of Hope: Bullish Breakout by Miners ***
*** The Slope Of Hope: Options Pr0n ***
*** FT Alphaville: Portugal meets its debt ceiling… ***
*** FT Alphaville: QEased commodities, chart du jour ***
*** FT Alphaville: Yen moves ***
*** FT Alphaville: Spain drifts away ***
*** FT Alphaville: Forecasting the end of fast growth ***
*** The Big Picture: When Do You Fire a Manager? ***
*** MISH’S Global Economic Trend Analysis: Roubini on China’s Unsustainable, Unbalanced Growth Model; China Unexpectedly Hikes Interest Rates to Counter Inflation, Exorbitant Home Prices ***
*** The Source: Currencies Market Hosts ‘Lobagola’ Party ***
*** Felix Salmon: The unexpected T-bill rally ***
Video Of The Day – Bloomberg TV: HSBC’s Bloom on Yen
David Bloom, global head of currency strategy at HSBC Holdings Plc, talks about the outlook for the yen following last month’s Group of Seven intervention to halt the currency’s appreciation. Bloom also discusses the impact of a European Central Bank rate increase on the euro. He speaks with Mark Barton on Bloomberg Television’s “On The Move.”
FOMC Minutes – April 5, 2011
Inflation is transitory (whatever that means), no sign of removing “extended period” formulation, asset purchasing program to be completed.
Monthly Strategy – April 2011
I have lost flair in making predictions. I even started to think that correct forecasting is impossible. Maybe it is better to look at forecasting only as to the extent “what if” exercise. That’s why this is the first strategy post this year.
I have to come to conclusion that the only relevant judgement on is made by market and this is the key in being a successful in this line of business. What is fair, what is right or what is logical are completely irrelevant questions in speculating. Fundamentals are most of the time only a peripheral factors affecting the prices; in fact fundamentals are major factor only in times of great excesses.
Now, lets get back to writing down my current mind setup.
New Week Intro – April 04, 2011
Weekly economic calendar.
Daily Reading – Monday, April 4, 2011
*** FT Alphaville: Michael Pettis on China’s useless banks ***
*** FT Alphaville: The hidden slide of Japanese business sentiment ***
*** FT Alphaville: Some circumstantial copper evidence ***
*** FT Alphaville: Head in the clouds at Autonomy ***
*** The Big Picture: WaPo: Anticipating the Next Black Swan ***
*** The Big Picture: 60 Minutes: The Next Housing Shock ***
*** FT BeyondBRICs: Week ahead: April 4-9 ***
Rig Count Weekly – April 4, 2011
Number of crude oil drilling rigs rose for 26; Number of natural gas drilling rigs rose for 11.
U.S. Freight Carloads Weekly – April 4, 2011
U.S. railroads originated 299,903 carloads, up 2.3% compared with the same week in 2010 and up 0.4% compared with 5-year average. Week over week change was 2.1%.
Dry Bulk Weekly – April 4, 2011
Baltic dry index fell 4.1% last week; Capesize Index was down 0.7%; Panamax Index fell 7.4%; Supramax Index was down 5.7%; Handysize Index was up 0.9%.
Strong coal demand in China and increased iron ore demand ahead India monsoon season could support rates. Beside that the market is well supplied and nothing major happening.
Tanker Weekly – April 4, 2011
Baltic Dirty Tanker Index fell 2.8%; Baltic Clean Tanker Index rose 0.7%.
Activity increased on Libyan oil substitution, rated steady despite more demand.