Adam Hewison is back with four new videos, sharing his outlook for the S&P500, the dollar, gold, and crude oil in the near term. Even if you’re not a trader, Hewison’s seasoned way of explaining ideas is very well informed and useful, and his videos are worth watching, and keeping tabs on.
Title : A Sneak Peek At The S&P 500
This week could be shaping up to be an extraordinary week in the markets. I strongly recommend that traders everywhere take precautionary measure measures to protect capital.
“While the S&P 500 made new highs for the year last week, it did not do so in a very convincing manner. In today’s short video I show you some of the elements that I think should be cause for concern.”
Title: Is The US Dollar Reversing Again?
“It’s been a while since we did a video on the euro/dollar relationship. This relationship may be reversing again based on recent price action. In today’s short video I point out some of the changes we see happening in this market.”
Last week, Jim Rogers discussed his long position in the euro. The reversal of the dollar, may also be a sign that ‘risk’ is back on, though I suspect that will have more to do with the USDJPY cross. For the time being, however, the dollar looks set to weaken against the yen too.
This week could be shaping up to be an extraordinary week in the markets. I strongly recommend that traders everywhere take precautionary measure measures to protect capital.
Title: A Sneak Peek At Gold
This week could be shaping up to be an extraordinary week in the markets. I strongly recommend that traders everywhere take precautionary measure measures to protect capital.
“Last week we gave you a Trade Triangle alert to exit the gold market on the long side. Since that alert was issued gold has dropped significantly.”
Hewison points to a very specific key level of $1091.19. If gold breaches that level, Hewison says it will test around 1060, a he believes that gold will be range-bound for the next while.
Title: A Quick Peek at Crude Oil
Tags: Advertisement, Amp, Breaches, Capital Gold, Commodities, Convincing Manner, Crude Oil, Dollar Gold, Elements, Euro Dollar, Exit, Gold, Gold Market, Jim Rogers, Measures, New Highs, Outlook, Precautionary Measure, Relationship, risk, Sneak Peek, Tabs, Trade Triangle, US Dollar, Videos, Yen
Posted in Markets | No Comments »
Energy and Natural Resources Market
The source of this graph is IHS Herold. The securities identified in the graph were selected for inclusion by IHS Herold and may or may not be held by portfolios managed by U.S. Global Investors, Inc., whose holdings may change daily.
Strengths
Opportunities
Threats
Tags: Bureau Of Statistics, Coal Exports, Coal Imports, Commodities, Crude Oil, Crude Steel Production, Electricity Generation Capacity, Eni Spa, Floor Space, Gas Group, Growth Target, Herold, Italian Oil, Metallurgical Coal, Million Metric Tons, Months Of The Year, National Bureau Of Statistics, Oil Company, Oil Import, U S Global Investors, U S Global Investors Inc
Posted in Markets, Oil and Gas | No Comments »
This article is a guest contribution by Damien Hoffman, WallStreetCheatSheet.com.
Jim Rogers is one of the best global investors of all-time. Last time we chatted a couple months ago he was sleeping soundly with his investments in commodities. Before Bloomberg interviewed Jim this morning, I caught up with him last week to get some high level perspective on the current issues unfolding in the European Union …
Damien Hoffman: Jim, Do you think the EU will survive economically and/or politically through this entire debacle?
Jim: Well I’m long the Euro because I expect them to come through this one okay. Either Greece is going to be papered over and they’ll give a blast to the Euro, or they’re going to let Greece go bankrupt. In my view, this is what they should do because then people would say, “Wow. They’re serious about sound economies in Europe.” That would make the Euro very strong. Then people would know they are not just going to print money or paper over failure.
Either way, I think there’s probably a rally coming. There’s a huge short position in the Euro and whenever there’s been a huge short position in anything, it’s sometimes profitable to go to the other side. So, I am long the Euro because I think there are too many pessimists.
Maybe Greece will go bankrupt and the Euro will collapse before people realize, “That’s good … that’s not bad.” Sometimes it takes a lot for perception to become reality or reality become perception.
Damien: What other countries are you monitoring to make sure the situation isn’t going to spread or get out of control?
Jim: I’m trying to watch the whole world. We cannot be very successful investors if we don’t know what’s going on everywhere. All of a sudden you’ll something like Iceland will show up and you’ll get killed because you didn’t know that Iceland even existed. Usually these things come out of the blue from some place we’re not thinking of.
Damien: Do you think Greece will be the first to tumble?
Jim: I would suspect that the U.K. is more likely to suffer before Greece, but who knows. Maybe it’s time for all of them to collapse and come down together.
Damien: Speaking of collapsing together, do you think the creditor-consumer model — as used by the Chinese with the US and the Germans with the Greeks — has been proven unstable and countries should be moving more passionately towards developing organic manufacturing and consumption economies at home?
Jim: The idea of economies built on consumerism has been discredited many times. The last ten or twenty years people have been shouting, “Oh gosh! Thank goodness for the American consumer.” However, no economy has ever been built on consumption for the long term.
The only way you build an economy is through savings and investments. Look at Dubai. The basic economic model in Dubai was to build an economy based on real estate speculation. That cannot work. You’ve got to have savings, investing, and productive capacity.
It’s all wonderful if we can go to the disco every Saturday night or go drinking by paying our bills with transfer payments. But that doesn’t do anything for long term productivity or competitiveness. Also, guys who build tanks have fun building the tank, but that tank then goes out in the sun or rain to rust. It doesn’t do anything for future productivity. The only way to build an economy long term is to save and invest while building infrastructure and productivity. Nothing else has ever worked.
Damien: Which countries are doing things correctly?
Jim: There are some doing better than others. The largest creditor nations in the world now are China, Korea, Japan, Taiwan, Hong Kong, and Singapore. That’s where the assets are. There are hundreds of billions of dollars in these countries because they’ve been doing something right.
You know who the largest debtor nations in the world are? I assure you they’re not in Asia. They’re in the West.
The future has always belonged to the people who’ve got the assets — the people who’ve built up savings and investing. Throughout history, we have never heard people say, “Gosh. Look over there at all those debtors. Why don’t we go over there and join those debtors?”
Instead, throughout history people have said, “Look over there where all the assets are.” People have always said they want to go where the assets are, not where the debts are. That’s what happened in America etc., and that’s what’s going to happen in the future as well.
Damien: Jim, thank you very much for updating us on your view.
Jim: You’re welcome.
Tags: Bloomberg, Commodities, Current Issues, Debacle, Euro, Europe, European Union, Failure, Global Investors, Greece, Hoffman, Investments, Jim Rogers, Last Time, Level Perspective, Out Of The Blue, Perception, Pessimists, Rally, Short Position
Posted in Bonds, Markets | No Comments »
This article is a guest contribution from John Thomas, madhedgefundtrader.biz, via ZeroHedge.com
Confessions of a Bull. Barton Biggs, founder of mega hedge fund Traxis Partners, spent an hour outlining his current investment strategy with me. Barton is a man of strong opinions, backed with intensive research, which he communicates with his characteristic gravel voice. I spent the better part of the eighties debating every pebble of the investment landscape with Barton. As I recall, “what to do about Japan?” was the topic of the day, and I was bullish.
Today, Barton can say with “real certainty” that large cap multinational equities are the cheapest they have been in 30 years using sophisticated models that analyze price/sales, price/free cash flow, price/earnings, and a whole host of other metrics. Looking just at price/book ratios, these stocks have been this cheap only three times in the last 120 years.
Big cap technology stocks, like Microsoft (MSFT), Intel (INTC), Cisco (CSCO), and Oracle (ORCL) are at the top of his list. Other multinationals with plenty of emerging market exposure are attractive, such as Caterpillar (CAT). The easy way in here is to simply buy the S&P 100 ETF (OEF). The market is now at a 15-16 multiple, discounting S&P 500 earnings for 2010 at $75/share. A stronger than expected economy will take that figure as high as $90/share, which the market is not expecting at all.
| Microsoft Corpora - MSFT | 29.61 | ||
| Intel Corporation - INTC | 22.20 | ||
| Cisco Systems, In - CSCO | 26.34 | ||
| Oracle Corporatio - ORCL | 25.38 | ||
| Caterpillar, Inc. - CAT | 59.77 | ||
| iShares S&P 100 - OEF | 53.61 |
The grizzled old Wall Street Veteran sees the US as half way through an economic recovery, and the main benchmark indexes could surprise to the upside, as they have such heavy big cap weightings. He would avoid domestic companies, such as those in real estate, as the environment for stocks generally is poor. He foresees a “new normal” of a lot of volatility in stocks for the next 4-5 years. Longer term he sees US GDP growth downshifting from the heady 3.8% annual growth rate of the last decade to only 2.5 % in this one. But big cap multinationals should be able to bring in a reliable 5%-6% annual return on top of inflation.
Looking at the world as a whole, Barton thinks Asia is the place to be. A mammoth bubble may be developing in China (FXI), but it is at least 3-5 years off, and there will be plenty of money to be made until then. India (PIN) is another big pick because it is ten years behind China, and has yet to experience its big growth spurt. South Korea (EWY), Thailand (THD), Taiwan (EWT), H-shares in Hong Kong (EWH), and Turkey (TUR) are also lining up in Barton’s sites. Looking at a 1%-1.5% growth rate, things look grim for Europe, with the possible exceptions of Poland (PLND) and Russia (RSX). Traxis is short Brazil (EWZ), because it has already had a great run, and because the country still faces some severe social problems.
| IShares Trust ISh - FXI | 41.42 | ||
| BMO CHINA EQUITY - ZCH.TO | 14.68 | ||
| ISHARES CHINA IND - XCH.TO | 20.30 | ||
| TAO.TO - TAO.TO | 0.00 | ||
| PowerShares Excha - PIN | 22.32 | ||
| ISHARES S&P CNX N - XID.TO | 20.59 | ||
| BMO INDIA EQUITY - ZID.TO | 14.48 | ||
| iShares Trust (Ba - EWY | 49.09 | ||
| iShares Trust iSh - THD | 45.98 | ||
| iShares Trust (Ba - EWT | 12.51 | ||
| iShares Trust (Ba - EWH | 16.28 | ||
| iShares Trust iSh - TUR | 53.77 | ||
| Market Vectors Po - PLND | 25.35 | ||
| Market Vectors Ru - RSX | 33.39 | ||
| iShares Trust (Ba - EWZ | 72.44 |
Commodities had their run last year, and won’t do much from here, but they aren’t going to crash either. He sees oil (USO) grinding up because the cost of new sources is becoming astronomically high. Barton avoids gold because it has no yield or PE, and would rather not be associated with the crazies that inhabit that space. Bonds (TBF) will be deflation driven for the next year, but are definitely not for your “Rip Van Winkle” investor, as they represent poor value for money. Real estate is dead money. To hear my interview with Barton at length on Hedge Fund Radio, please click at http://www.madhedgefundtrader.biz/Barton_Biggs.html
For more iconoclastic and out of consensus analysis, you can always visit me at www.madhedgefundtrader.com , where the conventional wisdom is mercilessly flailed and tortured daily.
Source: Zerohedge.com, March 9, 2010.
Tags: Barton Biggs, Cap Technology, Caterpillar Cat, China, Cisco Csco, Commodities, Downshifting, Emerging Markets, ETF, Free Cash Flow, GDP Growth, Gravel Voice, India, Intc, Intensive Research, Investment Landscape, Last Decade, Market Exposure, Msft, oil, Oracle Orcl, Price Earnings, Sophisticated Models, Street Veteran, Technology Stocks, Traxis Partners
Posted in Emerging Markets, India, Markets | No Comments »
Interesting parallels between the cost of shipping dry goods, and the prices of those goods themselves. The caveat is the past 2 years have been somewhat aberrational, and we would need to see much longer history:
Courtesy: Barry Ritholtz
Hat tip Bill King
Tags: Baltic Dry Freight Index, Baltic Dry Index, Barry Ritholtz, Bill King, Caveat, Commodities, Commodity Index, Dry Freight, Dry Goods, Hat Tip, Leads, Parallels
Posted in Markets | No Comments »
Friday, February 26, 2010 at 12:54PMBelow we highlight the year-to-date change for ten key commodities. As shown, orange juice has gotten off to a nice start (+13.15%), while natural gas has once again resumed its seemingly perpetual decline (-13.75%). Platinum is the second best performing commodity shown with a gain of 5.34%, followed by gold at +1.59%, and oil at +0.34%. While gold and platinum are up in 2010, silver is down 2.69%.
Below we provide our trading range charts for the ten commodities highlighted above. For each chart, the green area represents between 2 standard deviations above and below the commodity’s 50-day moving average. As shown, oil has been trading sideways between about $85 and $70 for a few months now, and it is currently closer to overbought levels than oversold levels. Natural Gas is once again in extreme oversold territory, and the same goes for coffee. After reaching oversold territory, gold, silver, copper, wheat, and corn have all seen nice bounces. Platinum remains in a nice uptrend. Along with the the recent outperformance of stocks like Ford (F), Sirius XM (SIRI), and Johnson Controls (JCI), is the solid performance of platinum (used in catalytic converters) another sign of an auto recovery?
Tags: 2 Standard Deviations, Auto Recovery, Bounces, Catalytic Converters, Commodities, Commodity, Gold Silver, Jci, Johnson Controls, Moving Average, Natural Gas, Orange Juice, Outperformance, Range Charts, Silver Copper, Siri, Sirius, Uptrend, Xm, Year To Date
Posted in Markets | No Comments »
Energy and Natural Resources Market
Strengths
Weaknesses
Opportunities
Threats
Tags: American Institute Of Architects, Baker Hughes, Billion Metric Tons, Capability Utilization Rate, China Industry, Commodities, Crude Steel, Drilling Rigs, Electricity Prices, Eskom, Gigawatts, Global Steel, Indian Finance Minister, Institute Of Architects, Leading Indicator, Market Strengths, Million Metric Tons, oil, Pranab Mukherjee, Rig Count, Sequential Basis, Steel Output
Posted in Markets | No Comments »
This article is a guest contribution by TraderMark, of Fund My Mutual Fund Blog.
A few weeks ago we noted the world’s largest coal producer, Coal India, was on the hunt for global assets to expand their reach. [Feb 12, 2010: WSJ - World's Largest Coal Producer Has $6 Billion in the Bank and is on the Prowl for Assets] It appears this is now part of a broader national strategy mimicking what China has been doing the past half decade+.
If you have any Malthusian bones in your body, [Mar 24, 2008: WSJ - New Limits to Growth Revive Malthusian Fears] [Jun 20, 2008: World Population to Hit 7 Billion by 2012] you have to wonder as certain countries waste all their national treasure on bailing out banks, financing the lifestyles of those who refuse to save for themselves, and funding pet projects of their politicians - while others are attempting to snatch up as many long lived assets across the globe, what the long term implications will be. This is more or less parallel to a company who lives for today - happy to kick the can down the road - rather than spends heavily on R&D to prosper for tomorrow. Of course any such national directives would be considered “socialistic” in certain countries, hence anathema to even consider as national policy. Oh well, much better to send countless paper monies out into the atmosphere to help prop up home prices and capital market values from going where they belong - a much sounder national directive.
Via WSJ:
You can almost feel the sands shifting under our feet, month by month - year by year.
Source: TraderMark, fundmymutualfund.com
Tags: Asset Prices, Burdensome Regulations, China, Coal India, Coal Producer, Commodities, energy, Energy Giants, Gas Assets, Global Assets, Global Energy, Global Hunt, Hot Pursuit, India, Long Lived Assets, Market Values, National Strategy, oil, Paper Monies, Pet Projects, Reliance Industries, Reliance Industries Ltd, Term Implications, World Population, Wsj
Posted in Emerging Markets, India, Markets | No Comments »
Chinese stocks, commodities, and global markets, for that matter, are not correcting due to the anticipation of reduced demand from China, as a result of its squawking about tightening. In fact, last year’s profitable trades are correcting because the U.S. dollar is climbing against the falling euro, and adding to that climb is short covering of the dollar as its carry trades of the last year are unwound.
With or without China’s ‘talk’ of tightening – i.e. reining in credit, suspending new loans, raising the value of the yuan, raising its interest rates, and past hikes in its Required Reserve Ratio – China’s stock markets would have corrected simply because carry trades tied to its market and commodities are being sold off.
What better opportunity, then, is there, than a technical global correction, to talk about the very thing, tightening, that is, which would bring about a correction in its own markets?
Pierre Daillie (AdvisorAnalyst.com), GlobeAdvisor.com, February 22, 2010.
http://www.globeadvisor.com/advisoranalyst/aa20100222.html
Tags: Anticipation, China, Chinese Stocks, Commodities, Dollar, Emerging Markets, Euro, February 22, Global Markets, Globeadvisor, interest rates, Loans, Opportunity, Profitable Trades, Reserve Ratio, Stock Markets, Yuan
Posted in Markets | No Comments »
Energy and Natural Resources Market
Inflows into commodity index tracking funds were strong in January after some slippage in December. This suggests that appetite for commodities exposure did not evaporate in January despite volatile markets.
Strengths
Weaknesses
Opportunities
Threats
Tags: Anglo American Plc, Capacity Utilization, Coal Imports, Commodities, Commodity Index, Contract Prices, Debt Overhang, Developing Economies, Domestic Steel, Electricity Demand, Emerging Markets, energy, Energy Administration, Heavy Rain, International Energy Agency, Iron Ore Producer, Million Metric Tons, oil, Oil Demand, Port Hedland, Queensland State, Steelmaking, Volatile Markets, Week Ending February
Posted in Markets | No Comments »
By Dian L. Chu, Economic Forecasts & Opinions
Commodities, particularly crude, were trending down last week after China’s Central Bank raised bank reserve requirements boosting the US dollar against other major currencies. That marks the second time China has raised its bank reserve requirement in a month.
Ongoing worries about the economy stemming from European debt problems, specifically the lack of a firm Greek bailout plan from European leaders also prompted investors moving out of risky assets. Crude oil fell for the first day in five to below $75 a barrel also partly due to government data showing U.S. inventories rose more than forecast.
Meanwhile U.S. natural gas registered the largest one-day gain last Friday to $5.48 per mmbtu since the beginning of the month on a drop in jobless claims, signaling industrial demand is likely improving, and cold temperatures across the US are boosting residential demand. Industrial Demand accounts for 29% of U.S. consumption.
Oil Services Sector Bottoming Out
While the markets are in a finicky mood from the China and Greek factors, the return of relative stability in oil and natural gas prices has spurred producers to increase their capital budget and restart projects they slowed down or completely deferred a year ago. (Fig. 1)
Absorbing the impact of lower rig counts, weak global demand for fossil fuel and volatile energy prices, the majority of the oil services companies are reporting sharply lower earnings in Q1. However, the rising rig count and producers’ capital budget suggest that oil service markets are probably in the process of bottoming this year, which suggests a good entry point for long-term investors. (Fig. 2)
Oil Majors Go Deepwater & Subsea
Roughly from 2004 to 2008, the onshore, North America in particular, had outshined the offshore in terms of activity growth. But the Great Recession has shifted the tide towards offshore and international. Offshore is one of the few remaining places where the state as well as western oil majors can increase production, while emerging Asian demand is expected to outpace the U.S. and the OECD in coming years.
FBR estimates an increase in deepwater spending of almost triple expected growth in onshore spending will drive offshore spending overall at a rate of around 15% for the next few years. Energy consultants Douglas-Westwood also forecast offshore spending recovering to $439 billion in 2010, up 11% from 2009 with deepwater capital expenditure reaching new highs. (Fig. 3) South America, Mexico, Iraq, Russia, Africa, and the deepwater are the key areas.
Subsea has proven to be considerably more resilient in the downturn, and the secular growth story will continue to improve as the deepwater rig count is expected to increase by 30% in 2012 from 2009 and as projects get more complex and require greater amounts of equipment.
Offshore Infrastructure – The Buffett Way
Warren Buffett made headline last year when he placed the biggest bet of his life with the $34 billion purchase of Burlington North Santa Fe, expecting the infrastructure play will grow as the economy gets back on solid ground.
So, if we apply the same investment strategy as Buffett to the oil services sector, offshore infrastructure will be the logical choice.
Americans vs. Europeans
While oil companies typically fund and own the pipeline, platform, etc, they rely on oil services companies to provide project expertise and resources.
The oil services universe is made up of mainly two camps: Americans and Europeans. American firms such as Halliburton (HAL), Baker Hughes (BHI) and Weatherford (WFT) tend to have a stronger focus on drilling and production services mainly due to the existence of a vast American market, and higher margins.
The European firms, on the other hand, have essentially positioned as specialists in offshore drilling, infrastructure engineering and construction related services.
From Europe with Backlog
Therefore, the current offshore and deepwater trend bodes well for the major European service companies such as Saipem SpA and Technip SA (TKP). Theses two companies are leaders of the European pack dominating in high-tech segments for deepwater activities such as the installation of platforms, the laying of subsea pipelines, the development of subsea fields, etc.,
The oil infrastructure business is generally later cycle and backlog driven, and thus tends to have less volatility in earnings than other energy stocks. That means even if we go into a double dip, these stocks should still be able to generate higher earnings.
Favorable Forex Trend
Dollar appreciation is also a major catalyst. Société Générale estimated that a 10% increase in the dollar translates into an 8% to 10% increase in EBIT for the oil services sector. All oil services companies should benefit but those that combine a sizeable proportion of dollar-based assets with borrowing denominated essentially in euros, for instance, Saipem and Technip (TKP), stand to benefit most.
Furthermore, with euro recently plunging to a near nine-month low amid Greek concerns, the downward momentum is favorable for U.S. investors wishing to add positions in some solid European companies with good long term prospects.
Americans with Niche
All is not lost with the American companies. Large manufacturers of capital equipment such as Cameron (CAM) are poised to benefit as well, since the tender activity for deepwater rigs, subsea equipment, surface, valves and compression will likely accelerate in 2010 with oil companies gaining confidence in the commodity recovery.
Drillers & Seismic – Grinding Ahead
Nevertheless, all services are not created equal. Average day rates for deepwater floating rigs have fallen from up to $550,000 to $350,000. So, the next two years are going to be a grinding period for drillers like Transocean (RIG) and Diamond Offshore (DO) when they have to roll over old contracts at lower rates.
Meanwhile, seismic companies such as CGG Veritas (CGV) and Petroleum Geo-Services (PGS) are still struggling to find a bottom mainly due to vessel overcapacity on the marine side. The sector is also hammered by clients’ preference to use old data instead of shooting new ones in a bid to cut costs.
So, the downward earnings trajectory could signal a buying and/or shorting opportunity depending on investment time frame and strategy.
Oil or Gas, One Sector Does It All
Energy stocks, including shares of services companies, tend to be higher beta, so the sector still has to balance the downside risk of the global growth environment. But as the world journeys on a recovery path, likely with rising oil and gas demand, there is still a significant multi-year opportunity for earnings growth from the oil macro view. (Fig. 4)
In addition, oil services is one sector that stands to benefit from the expected uptrend of either crude or natural gas, or both. With crude and natural gas prices outlook remain diverged in the medium term, this unique characteristic could be a good hedge in any energy/commodities investment portfolio.
Disclosure: No Positions
Tags: Bailout Plan, Capital Budget, Cold Temperatures, Commodities, Economic Forecasts, European Leaders, Global Demand, Government Data, Jobless Claims, Mmbtu, Natural Gas Prices, Offshore Oil, oil, Oil Majors, Oil Service, Oil Services, Relative Stability, Rig Count, Risky Assets, Service Markets, Term Investors, Time China, Warren Buffett
Posted in Markets | No Comments »
What does the fiscal crisis in Greece have to do with the price of commodities? Why would the Chinese step up their rhetoric of ditching reserve holdings in U.S. agencies, like Fannie and Freddie, and mortgage backed securities debt – Whom does it serve?
Why have emerging markets, commodities and commodities stocks, and equity markets in general, gotten a lashing?
Believe it or not, it’s all about achieving global equilibrium, and at the heart of this is the dollar.
Behind all of the market volatility in equities, commodities, and emerging markets in January, and the myriad of causes the financial media chalk up, are the prevailing trend, and the countervailing forces, that revolve around trading in the U.S. dollar.
Read the complete article here.
Source: Pierre Daillie (AdvisorAnalyst.com), GlobeAdvisor.com, February 11, 2010
Tags: Chalk, Commodities, Dollar, Emerging Markets, Fiscal Crisis, Global Equilibrium, Globeadvisor, Greece, Heart, Lashing, Market Volatility, Mortgage Backed Securities, Myriad, Prevailing Trend, Rhetoric, Stocks
Posted in Markets | No Comments »
Harvard makes mistakes too, you know. Kissinger taught there.
—
Advertisement
Listen to the recording with one of the media players below:
QuickTime Play
Windows Media Play
Jeff Saut’s Daily Audio Comment is recorded every weekday, except Wednesday, at 9 a.m. ET. It is made available to the public on this Web page at approximately 1 p.m. ET.
Advertisement Amp Banks Bear Market Blog BRIC Canada Central Banks Chart China Cnbc Commodities Credit Credit Crisis Dollar Dow Jones Dow Jones Industrial Economic Recovery Economy Emerging Markets energy ETF Fed GDP GDP Growth Global Economy Gold Government Bonds Hedge Fund India inflation Investment Investors liquidity Lows Markets oil Rally Recession risk Stock Market Target Trading Value Wall Street
