Gold withstands massive attack/ Global Bourses falter
Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 12 minutes ago
Good
morning Ladies and Gentlemen:
Before commencing with my commentary, I would like to announce that we
have added one bank to our failed list as this bank entered the morgue
last night courtesy of the FDIC guillotine:
First National Bank of Florida, Milton Florida.
May they rest in peace.
Gold closed the comex session at $1856.40 for a gain of $2.00. Silver
faltered to the tune of 91
Goldman's
head equity strategist David Kostin is shocked, shocked, that things
have not turned out the way he expected them to at the beginning of the year.
He is even more shocked that August just ended up being about the
worst month in market history since Lehman, courtesy of this whole
"mean reversion" to normalcy thing, whatever it is (apparently you can
not have an infinity+1 S&P point levitation on increasingly less
volume without it correcting at some point). Specifically for the
statistics buffs, "In August the S&P 500 was down 5.7% with an
annualized volatility of 47%. August S&P return was in the bottom
10% of monthly returns since 1928. Over that time 58% of monthly
returns have been positive with an average return of 0.6% (7.4%
annualized). August volatility was in the 98th percentile over that period at more than triple its 15% average since 1928.
Just 25 out of 1004 months over the past 83 years have experienced
higher realized volatility than August 2011. Amid that volatility, the
median hedge fund returned -2%, outperforming both the S&P 500 and
the median large-cap core mutual fund (-5.9%)." Ahh, 'ze price
stabeeleetee'... Anyway, it is about to get worse: if September closes
red, we will have a 5th consecutive down month: "Five consecutive
negative monthly returns are rare for the S&P 500. Since 1928 there
have been only nine episodes when the S&P 500 declined for more
than four months in a row (Exhibit 1). The longest was a ninemonth
stretch of futility in 1974 that was part of two-year period when the
market fell in 20 of 24 months by a cumulative 42%. The most recent
example was the five-month period of negative returns from November
2007 through March 2008, which was the first since 1990." Now should
September, and October close read, we hit the panic button: there have been just 4 occurences of 6 consecutive down months in the history of the S&P! Which all leads us to the following shuck and jive: "Investors look to the Fed to stop the losing streak." And there you have it: when fundamentals reassert themselves, bring out the chairsatan.
Weekly Bull/Bear Recap: September 6-9, 2011
Your one stop, comprehensive summary of the past week's key positive and negative events.Goldman's Laments A Horrible August, Comes Begging For Help To Bernanke
Goldman's
head equity strategist David Kostin is shocked, shocked, that things
have not turned out the way he expected them to at the beginning of the year.
He is even more shocked that August just ended up being about the
worst month in market history since Lehman, courtesy of this whole
"mean reversion" to normalcy thing, whatever it is (apparently you can
not have an infinity+1 S&P point levitation on increasingly less
volume without it correcting at some point). Specifically for the
statistics buffs, "In August the S&P 500 was down 5.7% with an
annualized volatility of 47%. August S&P return was in the bottom
10% of monthly returns since 1928. Over that time 58% of monthly
returns have been positive with an average return of 0.6% (7.4%
annualized). August volatility was in the 98th percentile over that period at more than triple its 15% average since 1928.
Just 25 out of 1004 months over the past 83 years have experienced
higher realized volatility than August 2011. Amid that volatility, the
median hedge fund returned -2%, outperforming both the S&P 500 and
the median large-cap core mutual fund (-5.9%)." Ahh, 'ze price
stabeeleetee'... Anyway, it is about to get worse: if September closes
red, we will have a 5th consecutive down month: "Five consecutive
negative monthly returns are rare for the S&P 500. Since 1928 there
have been only nine episodes when the S&P 500 declined for more
than four months in a row (Exhibit 1). The longest was a ninemonth
stretch of futility in 1974 that was part of two-year period when the
market fell in 20 of 24 months by a cumulative 42%. The most recent
example was the five-month period of negative returns from November
2007 through March 2008, which was the first since 1990." Now should
September, and October close read, we hit the panic button: there have been just 4 occurences of 6 consecutive down months in the history of the S&P! Which all leads us to the following shuck and jive: "Investors look to the Fed to stop the losing streak." And there you have it: when fundamentals reassert themselves, bring out the chairsatan.9/11 Expanded The Willingness Of Policymakers To Print Money
Admin at Marc Faber Blog - 1 hour ago
9/11 expanded the willingness of policymakers in the U.S. to print money. - i*n CBS Marketwatch* *Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.*
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