Finance Roundtable

Barry Ritholtz points out the weakness in the Baltic Dry Good Index, which is off by 50% since December. This fits in pretty well with my thoughts on transport stocks this AM.

Also check out Calculated Risk's summary of today's MBA report.

What ...

I wrote last week that I thought we were headed for a decision point and today looks like it. I am not doing a lot but am positioned for April's downtrend in equities to resume. My reaction to yesterday's economic releases is best captured in David ...

Prudent Investor explores the recent gold rally while Econbrowser takes apart Saudi Arabia's production rhetoric.

can't believe the shit he makes for Americans.

FENGHUA, CHINA -- Chen Hsien, an employee of Fenghua Ningbo Plastic Works Ltd., a plastics factory that manufactures lightweight household items for Western markets, expressed his disbelief Monday over the "sheer amount of shit ...

From the Korea Herald:

The government yesterday unveiled measures to induce overseas investment by local ...

I think that higher open in Newmont (NEM) completes both a head and shoulders break, and an island reversal (updated 2PM - on further inspection the gap open did not clear the high of 39 from 4/27). It also looks a lot like the pattern in Phelps Dodge (PD).

From Marketwatch:

"The mutual fund croupiers rake huge sums off the stock market table," says Bogle. He estimates that management fees average 0.9%. Other expenses are 0.6%. So the average expense ratio is 1.5%, five to seven times the take for index ...

From the NYT:

The Conference Board reported yesterday that only one of the 10 components of the leading index, stock prices, increased in May. The other components that dragged down the index included building permits, vendors' performances, the index of consumer expectations, manufacturers' new orders for nonmilitary capital goods, ...

From Marketwatch:

Manufacturing in the Philadelphia region weakened unexpectedly in June, the Federal Reserve Bank of Philadelphia reported Thursday.

The Philly Fed's activity index fell to -2.2 in June from 7.3 in May.

This is the first negative reading since May 2003.

...

From Marketwatch:

Marin Capital Partners, a hedge fund that once oversaw about $2 billion in assets, is shutting down because the firm sees few opportunities in the convertible arbitrage and credit arbitrage strategies it follows.

Marin, which has moved most of its investments into cash, will ...