Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Peloton 35% CRASH a Lesson of What Happens When One Over Pays for a Loss Making Growth Stock - 1st Dec 21
Stock Market Sentiment Speaks: I Fear For Retirees For The Next 20 Years - 1st Dec 21 t
Will the Anointed Finanical Experts Get It Wrong Again? - 1st Dec 21
Main Differences Between the UK and Canadian Gaming Markets - 1st Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - 30th Nov 21
Omicron Covid Wave 4 Impact on Financial Markets - 30th Nov 21
Can You Hear It? That’s the Crowd Booing Gold’s Downturn - 30th Nov 21
Economic and Market Impacts of Omicron Strain Covid 4th Wave - 30th Nov 21
Stock Market Historical Trends Suggest A Strengthening Bullish Trend In December - 30th Nov 21
Crypto Market Analysis: What Trading Will Look Like in 2022 for Novice and Veteran Traders? - 30th Nov 21
Best Stocks for Investing to Profit form the Metaverse and Get Rich - 29th Nov 21
Should You Invest In Real Estate In 2021? - 29th Nov 21
Silver Long-term Trend Analysis - 28th Nov 21
Silver Mining Stocks Fundamentals - 28th Nov 21
Crude Oil Didn’t Like Thanksgiving Turkey This Year - 28th Nov 21
Sheffield First Snow Winter 2021 - Snowballs and Snowmen Fun - 28th Nov 21
Stock Market Investing LESSON - Buying Value - 27th Nov 21
Corsair MP600 NVME M.2 SSD 66% Performance Loss After 6 Months of Use - Benchmark Tests - 27th Nov 21
Stock Maket Trading Lesson - How to REALLY Trade Markets - 26th Nov 21
SILVER Price Trend Analysis - 26th Nov 21
Federal Reserve Asks Americans to Eat Soy “Meat” for Thanksgiving - 26th Nov 21
Is the S&P 500 Topping or Just Consolidating? - 26th Nov 21
Is a Bigger Drop in Gold Price Just Around the Corner? - 26th Nov 21
Financial Stocks ETF Sector XLF Pullback Sets Up A New $43.60 Upside Target - 26th Nov 21
A Couple of Things to Think About Before Buying Shares - 25th Nov 21
UK Best Fixed Rate Tariff Deal is to NOT FIX Gas and Electric Energy Tariffs During Winter 2021-22 - 25th Nov 21
Stock Market Begins it's Year End Seasonal Santa Rally - 24th Nov 21
How Silver Can Conquer $50+ in 2022 - 24th Nov 21
Stock Market Betting on Hawkish Fed - 24th Nov 21
Stock Market Elliott Wave Trend Forecast - 24th Nov 21
Your once-a-year All-Access Financial Markets Analysis Pass - 24th Nov 21
Did Zillow’s $300 million flop prove me wrong? - 24th Nov 21
Now Malaysian Drivers Renew Their Kurnia Car Insurance Online With Fincrew.my - 24th Nov 21
Gold / Silver Ratio - 23rd Nov 21
Stock Market Sentiment Speaks: Can We Get To 5500SPX In 2022? But 4440SPX Comes First - 23rd Nov 21
A Month-to-month breakdown of how Much Money Individuals are Spending on Stocks - 23rd Nov 21
S&P 500: Rallying Tech Stocks vs. Plummeting Oil Stocks - 23rd Nov 21
Like the Latest Bond Flick, the US Dollar Has No Time to Die - 23rd Nov 21
Why BITCOIN NEW ALL TIME HIGH Changes EVERYTHING! - 22nd Nov 21
Cannabis ETF MJ Basing & Volatility Patterns - 22nd Nov 21
The Most Important Lesson Learned from this COVID Pandemic - 22nd Nov 21
Dow Stock Market Trend Analysis - 22nd Nov 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Dow Hits 10k as Bailed Out Banks Announce Huge Profits and Bonuses

Stock-Markets / Financial Markets 2009 Oct 18, 2009 - 01:12 AM GMT

By: Nadeem_Walayat

Stock-Markets

Best Financial Markets Analysis ArticleGoldman Sachs lived up to expectations of huge profits and "two fingers up to the tax payer" bonuses (no it does not mean V for victory) as a consequence of the funneling of billions of U.S. tax payer cash onto their balance sheet and huge profit margins in the artificial tax payer funded banking system that squeezes retail customers and rewards failure which is not so surprising since the central banks remain firmly at the centre of the parasitic banking sector.


In the UK the public sector is rebelling in ever increasing numbers and this is BEFORE deep public sector workforce cuts of 10% have even been enacted which sows the seeds of severe political and economic turmoil in Britain post the 2010 General Election. Postal workers announced an escalation of strike action from regional to national action which will hit small business in the run up their most active pre-Chrismas period. The Labour Government hell bent on committing political suicide declared it would not give in to their demands which would cost some £100 million per year. Though at the same time there were murmurs that the tax payer bailed out bank Lloyds TSB / HBOS is seeking at least another injection of £5 billion of tax payer cash, I wonder how much in bonuses they and other bailed out banks will be announcing next week? Meanwhile the bailed out bank is seeking to transfer £260 billion of bad debts off of its balance sheet and onto the British tax payers.

Meanwhile the white wash Legg report on MP expenses was published that required MP's to repay for minor indulgences such as gardening and cleaning costs usually amounting to sums of less than £1,000, which still angered many of the tight fisted fraudsters at Westminster. Though Gordon Brown the walking disaster area still managed to bodge it up by having to cough up £12,000. However the report is a white wash for it FAILED to address the REAL FRAUD of flipping houses which has benefited many MP's to the tune of hundreds of thousands of pounds each! The voters are NOT going to forget the fraudsters at the next general election regardless of the party under who's banner they defrauded the tax payers! Already a record 170 MP's doomed to be rejected by the voters at the next election have decided to step down which means they get to walk away with nearly £160,000 each and an annual pension of £30,000 each, instead of a prison term which would be if any of you committed similar fraud in the workplace.

Quick Markets Review.

Stock Market - The Dow breached 10k and showed remarkable strength that caught even the bulls by surprise. The perma bears continued to hang on to crash / collapse / bear market resumption hopes despite being on a loser for the past 7 months. Now the mantra is that everyone is hyper bullish and therefore a collapse is imminent. Hyper bullishness does not come THIS early in a bull market ! Looking under the hood you don't see people piling into stocks, on the contrary the rally has been SOLD INTO ! Don't believe me ? Take a look at the volume which is heavier on declines than the rallies. And neither will raising of old charts from 80 years, 50 years, 20 years ago going to make any difference. Where will the market go next is going to require in depth analysis, which I hope to complete either Sunday evening or Monday and email out (subscribe to my always free newsletter).

Gold - Stood steady at $1050 ending little changed on the week. The breakout remains intact with silver showing relative strength. I last analysed Gold in January therefore in depth analysis is pending before I attempt to project forward.(subscribe to my always free newsletter).

Crude Oil - Marched higher to $79 and is now showing relative strength against Decembers forecast implying the worlds economies are far stronger then they appear in the data. This now demands an in depth update (subscribe to my always free newsletter)., though the outperforming oil stocks have always remained a part of the mega-trends portfolio with $200 eventually beckoning stock prices higher.

U.S. Dollar - As if out of some CNN report of an Iranian demonstration, "Death to the Dollar" mantra continues near across the board. Meanwhile the USD at 75.77 stubbornly manages cling onto support, therefore the bull market scenario remains intact.

British Pound - Early in the week the mainstream press ran with the Centre for Economics and Business Research (CEBR) string of forecasts which included that the British Pound would fall to £/$1.40 in the coming months, sterling abruptly did a u-turn by rising from £/$1.58 to £/$1.63.60 by the end of the week. Other forecasts included UK interest rates to remain below 2% until 2014 - No chance!.

Are you hunting for the holy grail of trading ? You may find yesterdays short piece informative.

Your analyst thinking forget money, forget gold, time is the most precious resource anyone actually really has, so don't waste it!

Source :http://www.marketoracle.co.uk/Article14307.html

Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-09 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Featured Analysis of the Week

Most Popular Financial Markets Analysis of the Week :

1. Gold Analysis, Real or False Breakout?

By: StocksBuddy

Gold has broken out above $1000 and everyone believes that it is headed towards $1500, $1200 being the immediate next target. Technically and otherwise, there has been lot of talk that Gold should be valued @ $2000 - $5000 range based on the real $$$ terms when compared to 1980's. However, if that were so easy, it would have already happened. Here are some of SB comments to the respective articles on the Internet.

Read Article

2. Stock Market Bull Trap Heading for a 50% Crash to 5,000

By: Captain_Hook

At the risk of getting ahead of myself prior to being able to confirm the turn, I am suggesting stock market action over the past week bears the distinct odor of a bull trap, with even informed technicians still waiting for a push to 50% retracements on the indexes. In this respect then, you should realize the context of such a bull trap would be profound in that we are talking about the March lows being tested and violated, meaning for example the S&P 500 (SPX) could be on its way down to test its namesake at 500 before this next sequence is all over. You will remember from previous discussions, and in framing context correctly here, it’s possible we could be looking at a Supercycle Degree Affair lower in global stock markets directly ahead, implying 500 on the SPX would be an optimistic target for a low.

Read Article

3. Jim Rogers Claims 20 Year Commodities Boom to Replace Financial Crash

By: Andrew_McKillop

In a Yang-Yin world where only two paradigms, models or states are possible - obviously not the real world - commodity boom should replace financial crash, like day follows night.

To some, including Jim Rogers, this is already in the works. Speaking from Singapore in interview with the UK Daily Telegraph on 8 October, he forecast a commodities boom able to last 20 years. He said: "Commodities are the best place to be, if you ask me, based on supply and demand". He also believes crude oil will run out in 15 or 20 years "unless something happens", despite quite large recent discoveries and slow growing demand.

Read Article

4. Collapsing Monetary Base Deflationary Threat to Gold

By: Ned_W_Schmidt

With $Gold now trading firmly above US$1,000, at least on a temporary basis, all are joyous that the Gold Bugs have won. The paper equity charlatans have been vanquished, at least for now. Those fanning emotions with stories about cabals, price suppression, and manipulation may now have to find some other drivel to pedal. GATA, the Gullible and Truly Amateurish, has now firmly been proven a purveyor of fantasy. Those that have opposed Gold and Silver ETFs can now, with knuckles dragging on the ground, return to the back of their caves

Read Article

INO TV - Watch From Your Computer for FREE

INO TV - Watch From Your Computer for FREE

Here are the newest authors: Jack Schwager, John Murphy, Jake Bernstein, and Ron Ianieri. All experts, all well recognized, and highly trafficked by our current members. http://tv.ino.com/

 

5. The End of Money and the Future of Civilization

By: Richard_C_Cook

It’s too late for anyone to pretend that the U.S. government, whether under President Barack Obama or anyone else, can divert our nation from long-term economic decline. The U.S. is increasingly in a state of political, economic, and moral paralysis, caught as it were between the “rock” of protracted recession and the “hard place” of terminal government debt.

Read Article

6. Ponzi Finance Deflationary Debt Deleveraging Downward Spiral Continues

By: John_Mauldin

I look forward at the beginning of every quarter to receiving the Quarterly Outlook from Hoisington Investment Management. They have been prominent proponents of the view that deflation is the problem, stemming from a variety of factors, and write about their views in a very clear and concise manner. This quarter's letter is no exception, where they once again delve into the history books to bring up fresh and relevant lessons for today. This is a must read piece.

Read Article

7. Gold Mega Bullish Technicals, Wow!

By: Adam_Brochert

If you're not into technical analysis, you're not into it. I understand. Drawing squiggles on a chart seems like reading tea leaves to many. I get it. I personally believe that it increases your odds of success if you have the fundamentals right. In other words, technical analysis in isolation is not attractive to me, but laid over a solid foundation of fundamental analysis makes sense to me.

Read Article

Subscription

You're receiving this Email because you've registered with our website.

How to Subscribe

Click here to register and get our FREE Newsletter


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Jas Singh
18 Oct 09, 14:34
British Pound

Hi Nadeem

Do you think the pound is still in a bearish downtrend?

Looks like it has formed a bullish Cup and Handle, similar to WTIC, and major commodity indices.

Immediate resistance appears to be around 166, I think it will be broken.

What are your thoughts on this?

Best regards

JS


Post Comment

Only logged in users are allowed to post comments. Register/ Log in