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Gary Smith’s Market Take

MarketTakePic

Here’s my take on the markets today, June 29, 2012. If you’d like to read more of my articles, click here. Credit gauges are mostly improving today. The 3M EUR/USD Cross-Currency Basis Swap is rising +9.3% to -53.50 bps. The 2Y Swap Spread is falling -6.5% to 23.56 bps. The European Investment Grade CDS Index […]

Look ma, another rescue

So, another b.s. “solution” to the problem and another big b.s. rally on the so called fix.  What an embarrassment. Investing has devolved into gaming macro data points and government rescues. This is why I am reluctant to manage opm on a daily basis. Trust me, the Euro financial system is as insolvent today as […]

How Long Will The Relief Rally Last?

The market is rallying nicely this morning on the heels of the headlines out of the EU summit.  I had been skeptical that anything material would come out of the meeting.  Despite the reaction this morning, I don’t think the policies they put in place are really enough to tackle their problems.  But I think […]

My Gut Feeling for Today, June 29, 2012 ($)

crystalball

This messy ugly quarter is finally over at 4pm. However, it will be a fun day as we have plenty of headline news to trade off of coming out of Europe. Here is my take. I watch the action on my Bloomberg all night long. After the sharp intraday rally post-Obamacare sell-off, the futures trended […]

Weekly Sector Update – Home Sales ↑ ($)

itb and iyr

Our housing theme from last week continues.  The two ETFs that we were watching last week were ITB and IYT. Well, IYT fell off the charts (somewhere near the bottom – positive but in the penalty box); whereas ITB is at the top of the chart and out of the penalty box. This week pending […]

How to pick the best stocks

Before I jump into today’s column, I’ve had a few inquiries about doing an investment/trading conference, so I have a question for you dear Cody Word blog readers. Should we do a conference? I’d be game to do a West Coast TradingWithCody Conference here in the lovely mountain resort town of Ruidoso, NM and I’d […]

Awaiting Headlines From The EU

The market is lower this morning on a pullback following 2 straight days of gains, as well as uncertainty ahead of the EU summit.  Most of the headlines this morning have centered around the Supreme Court decision about Obamacare.  The court upheld the plan, but said the individual mandate could be upheld as a tax not […]

My Gut Feeling for Today, June 28, 2012 ($)

crystalball

Get ready for an emotional roller coaster trading day. Overnight action was muted but slightly to the upside. However, we then got a New York Times (NYT) story which predicts that the JP Morgan (JPM) CIO trading loss may reach $9 billion. The company has yet to respond to this assertion by the newspaper. However, […]

Bogus Reads on the Message of the Markets

[The WSAS audience is sophisticated, but my sense is that there is a skew to short-term trading.   I try to write things that will help in various time frames.  It is important to be flexible in methods and timing.  This post was partly inspired by WSAS reader comments.] Does the market have a message? Whether […]

Gary Smith’s Market Take

MarketTakePic

Here’s my take on the markets today, June 27, 2012. If you’d like to read more of my articles, click here. Credit gauges are mixed today. The TED Spread is falling -2.7% to 36.42 bps. The European Investment Grade CDS Index is down -1.1% to 177.46 bps. The European Financial Sector CDS Index is down […]

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