Market Reflections

Thoughts, ideas and musings on current state and evolution of financial markets


Raymond | May 31, 2009

People keep asking me and others they trust if the stock market is topping out. A trading guru and educator I respect Joe Ross, answered “All I can say is that it sure looks like it to me.” In his post he went on to tell a story about an Elliott Wave trader he sold [...]

OPEC Increasing Production Even as Demand Remains Weak

Raymond | May 30, 2009

May 28: As expected, OPEC members, who account for 40% of global oil production decided to leave production targets unchanged from those agreed to in December 2008 and upheld in March 2009. The next meeting will be held on September 9, 2009. Compliance with set targets has fallen from 80% in Feb to below 70% [...]

Dumb or Dumber. Current State of the Economy

Raymond | May 18, 2009

They do pull out all stops to make us believe the worst is over. Latest from Peter Orszag Obama’s budget director “Economy almost bottomed out”
Does this chart look to you as the economy has bottomed out?

Orzag’s, Bernanke’s, Geithner’s, … etc recent statements raise a different question: are they really dumb … or they think we [...]

Social Security and Medicare Need Money to Replace Government IOU’s

Raymond | May 14, 2009

The recession dented the financial health of Social Security and Medicare in the past year. According to trustees of these programs Social Security will start paying out more in benefits than it collects in taxes in 2016, one year sooner than projected last year, and the giant trust fund will be depleted completely by 2037, [...]

Bank Stress Tests

Raymond | May 11, 2009

Some knowledgeable folks had differing opinions on the value and meaning of bank stress tests. People who have worked for large banks and know their business inside-out are of the opinion that the only real goal for the tests was to fool the public to believe that the banks are fine.
Should the government succeed in [...]