Wkend Notes-Another One Bites the Dust-Markets-$GLD/$OIH/$ilver/$DXY
Another ONE bites the dust~Queen
First, The Friday Bank Hit$ produced 4, bringing the total for now to 81~Guaranty (GFG) was finally closed by regulators with most of its operations sold at a loss of billions of dollars for the US to the major Spanish Bank BBVA, which marked the first time a foreign bank has bought a failed US Bank (changes). The 10th largest in US history has an estimsted cost of $3billion to the DIF. Other 3 closings; ebank in Atlanta with estimated cost of $63million to the DIF, First Coweta of Newnan GA estimated cost $48 million to the DIF, CapitalSouth Bank of Birmingham AL estimated cost of $151 million~FWIW the DIF’s funded status is reported next Thursday, when the FDIC publishes its Quarterly Banking Profile…….
TOP AND BOTTOM SECTORS LAST WEEK
S&P 500 P/E RATIO==> Currently, with 97% of US corporations having reported for Q2 2009, the PE ratio now stands at a lofty 127 ~WoWee how does that grab ya?
This chart illustrates how the recent plunge in earnings has impacted the current valuation of the stock market as measured by the price to earnings ratio (PE ratio). From 1936 into the late 1980s, the PE ratio tended to peak in the low 20s (red line) and trough somewhere around seven (green line). The price investors were willing to pay for a dollar of earnings increased during the dot-com boom (late 1990s) and the dot-com bust (early 2000s). As a result of the recent plunge in earnings and recent stock market rally, the PE ratio spiked and just peaked at 144 – a record high. Currently, with 97% of US corporations having reported for Q2 2009, the PE ratio now stands at a lofty 127.
World Emerging from Deep Slump but can it last?
(How about mirror mirror on the wall or a crystal ball?) Crystal Ball-Pink
Now, onto a few Commodities, and or ETF’s
GLD 1 Year- Daily held 100d SMA support levels on a volume decline – volume needed to confirm the possibility of a price breakout?
USGOLD CHART_______
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| Market Summary |
|---|
| Desc | Last | Change | % |
| 73.89 | +0.98 | +1.34% | |
| 2.804 | -0.141 | -4.79% | |
| 1.9049 | +0.0197 | +1.04% | |
| 1.9956 | +0.0134 | +0.68% | |
| 954.70 | +13.00 | +1.38% | |
| 14.164 | +0.284 | +2.05% | |
| 2.8805 | +0.1390 | +5.07% | |
| 1259.2 | +17.2 | +1.38% |
Oil and Gold Focus Reports
OIH 1 Year- Daily~ On the daily OIH looks very bullish – Vol accum is starting to pick up, supports held well, the 5d SMA is starting to cross above the 10d SMA. The momentum seems really strong right now with NYMEX Crude Oil moving`
Big Oil, Climate Bill and Lies by Nick Hodge, 2009-08-20 Energy and Capital Blogs ==>In case intentionally meddling with health care townhalls wasn’t distasteful enough for you, the opposition to the energy bill in Congress has taken up the same tactics. Use link to continue
Big Autumn Silver Rally
Adam Hamilton August 21, 2009 3032 Words
Silver’s fundamentals offer plenty of reasons to be bullish in the coming years. Relentlessly growing global investment demand coupled with reduced production is a recipe for much higher prices. With something like 3/4ths of all the silver mined globally being merely a byproduct, primarily of base metals, supplies will remain constrained. Investors will have to compete in a tiny market for this scarce metal.
Weekend Stock Market Analysis
(8/22/09)
As I mentioned last weekend the market is being driven by the US Dollar (USD). For the last several years there has basically been an inverse relationship between the USD and the major averages such that weakness in the USD (points A to B) has been followed by strength in the major averages (points C to D) while strength in the USD (points B to A) has been followed by weakness in the major averages (points D to C). This inverse relationship has continued in 2009 as the USD peaked in March as the S&P 500 made a bottom which has been followed by a 54% rally in the S&P 500 during the past 6 months. continue for full
Global Markets In Review: Risky Asets Back in Favor August 23, 2009 | about: / / / / / / / / / / / / / use link to read in full
Oil! The price forcast vary. why? By David Kotok - August 23rd, 2009, 4:30PM
VERY Interesting, suggested reading with two for one here ~Friday, August 21, 2009
Mixed Signals From Tehran, by Stratfor,
(1 votes, average: 4.00 out of 5)
Prepare Yourself for the Inflation Invasion
by: Dian L. Chu August 23, 2009 | about: BHP / DBA / FCX / GLD / HAP / PBR / SLV / TIP /XO use link