Its all Greek today on the Jack B. Show. Alan Rohrbach joins in the discussion with Jack and Sara. Technical and psychological views of the markets are given with special attention paid to China, Gold, the Aussie Dollar and S&Ps. Click here to listen to this podcast
Folks, when you really boil it down, the question that’s been at the center of this whole European situation has always been pretty simple: How can you be a monetary union without being a fiscal union? And the answer is equally simple: you can’t be. If you share a currency, you have to share other [...]
Folks, the bond vigilantes have moved their focus from Greece to Italy. Italian bonds slumped, driving 2-, 5-, 10- and 30-year yields to euro-era records after LCH Clearnet SA raised the deposit it demands for trading the nation’s securities. This has caused a global margin call that’s resulted in liquidation of everything—stocks, commodities, etc. The [...]
Folks, there is global selloff taking place, and I have to tell you, this one caught me by surprise. I’m usually the one waiting for that thing that comes out of left field, but I definitely didn’t expect this. Right now, it’s looking like all bets might be off for that year-end melt-up scenario I’ve [...]
Folks, I’m always on the lookout for that news story that comes out of left field that could, in some way, hit the markets. Yesterday, I believe I came across one. Around 1pm CT, it came out that a group of U.S. solar-equipment companies were filing a complaint with the government saying that Chinese solar-panel [...]
Folks, in addition to being T+3 settlement day, it’s also the beginning of Rosh Hashanah. Things will probably slow down later in the day as Jewish traders on the East Coast leave early to celebrate the high holiday. Expect a flurry of activity early and then a slowdown toward the end of the session. All [...]
Folks, if you’re thinking about anything besides what’s going on in Europe these days, you’re missing the picture. I’ve said before that I don’t think the EU will break apart, but I do believe that we’ve gotten to a point where we need the other shoe to drop. And that shoe is a Greek bankruptcy. [...]
Folks, it appears like we’re on the verge, once again, of a Greek bankruptcy or default. I still maintain that this does not portend a breakup of the European Union. A default in Greece would be roughly the equivalent of, say, California or New York City going bankrupt—we’ve seen municipalities and states default before. Dysfunction [...]
Folks, last week I told you to look for hints that Germany would come to the rescue of the European Union, and today we got another one. The German Constitutional Court has upheld the legality of bailout packages for member nations stricken with debt. That’s good news for European banks that are holding that Greek [...]
Folks, this is a big time for earnings—130 of the S&P 500 companies report before the end of the week. These reports coincide with a debt-ceiling debate here at home and a situation where European banks are playing havoc with pricing. Let’s distill this, shall we? What’s happening in Europe right now all comes down [...]