The Greek finance minister, Yannis Stournaras, submits the 2013 budget bill to a parliamentary vote as protesters flock to central Athens over austerity measures and heating costs
The prime minister says he is prepared to use a veto on EU budget negotiations
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Video contents:
S&P 500 path scenarios (29 seconds into video)
S&P 500 key support (05:25)
Breadth at spring 2012 market peak (06:25)
Current breadth vs. spring 2012 market peak (10:15)
Update: bond/stock ratio from last week’s video (12:51)
DeMark - Emerging markets vs. shorts (14:00)
DeMark - Long vs. short (20:07)
DeMark - Stocks vs. bonds (22:44)
DeMark - Stocks vs. VIX (24.42)
After you [...]Little evidence in hand concerning a flip back to risk-on. Consequently, we locked in a 7.95% gain on a portion of our China (FXI) holdings Friday. Recent tweets have some links and stats about Friday’s session. Will try to get a video out Saturday or Sunday. Kathy (an Auburn grad) and I are [...]As of Friday morning at 7:30 EDT, we are close to “do or die” time for the bulls. This morning’s low in the S&P 500 futures ($ES) is 1,394. Important support sits at 1,389. If stocks can hold near support, the door remains cracked for a push back above 1,464 and possibly [...]Many markets remain near possible inflection points. Notice in the stock/bond ratio chart below, when the blue trendline held, stocks bottomed (see green arrows). The blue arrows show a similar set-up. If the trendline holds, it could be risk-on again. If the trendline is violated, risk assets will most likely take [...]Links to charts can be found on Twitter (@CiovaccoCapital). To view them, you do not need to know anything about Twitter.
Our long-term concerns related to excessive amounts of global debt are well documented in the video “The European Debt Crisis Explained” (over 250K views). Below are excerpts from an October Atlantic article, “The Next Panic”:
This summer, many government officials and private investors finally seemed to realize that the crisis in the euro zone was [...]Many risk-on vs. risk-off ratio charts used in CCM’s Market Models are sitting at important points. If risk markets can push higher, we could see a multiple-week rally similar to the S&P 500’s 47 point pop from April 10 to May 1, 2012. If risk markets are turned back near current levels, an [...]Detailed analysis of current market begins at the 4:10 mark of the video.
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This picture is from the Red Line (one of the lines in the Boston area subway system, known as the “T”), on October 18. The graffito reflects the current battles over public transportation fare hikes and service cuts in Boston, … Continue reading →On the Sidelines? Market Giving You Chance To “Buy Low”
There are 468 different ETFs for investors to choose from when allocating capital. Our last two buys (made within the last week) were VXX and PSQ (RYAAX). On Friday, VXX was up 6.31%. PSQ was up 2.4%. Of the 468 options, [...]
Yesterday saw the first clash in the German parliament between Chancellor Merkel and the newly designated “chancellor candidate” of the SPD, Peer Steinbrück. The occasion was a debate about the euro crisis. The new Merkel was on display. Solidarity was writ large. Greece, so her fervent wish, should stay in the euro area. The currency [...]
(1) Shiftchange: Via our former book editor, Dan Fireside (now at Equal Exchange) and others, a new documentary about worker-owned co-ops, Shift Change, will be screened twice in the Boston area: SHIFT CHANGE–the new documentary about how worker-owned cooperatives are … Continue reading →
Greece is inching towards an agreement with its international debt inspectors as they struggle to hammer out the details of (EURO)13.5 billion ($17.5 billion) in austerity measures for the next two years, a package essential for Greece to receive the next installment of its vital bailout funds.
German Chancellor Angela Merkel got a hostile reception from many ordinary Greeks Tuesday when she flew into Athens on her first visit to the country since its debt crisis erupted three years ago....
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: Greek Default Watch A blog about Greece's need to create a sustainable economic path for itself and to do so quickly , in difficult circumstances , and under great . pressure Pages Home Greece in Figures Greek Crisis Timeline Q on the Greek Crisis The Big Picture Saturday , October 06, 2012 Ten Surprising Facts About Greek Economic History A year ago , I wrote a post about the ten most surprising things that I had learned about Greece in the course of writing my blog . As I dug deeper into the country’s recent economic history while conducting research for my book on the Greek crisis , I came across a few more . Here are the things that most surprised me during that research relying heavily on the OECD’s Economic Surveys of Greece dating to 1962 Fact 1 : Employment in the public sector
German Chancellor Angela Merkel will make her first visit to Greece next week since the euro zone debt crisis erupted, in a show of support for Athens after it said it will run out of money at the end of November without fresh international aid.
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QE3, the Federal Reserve’s third round of quantitative easing, is so open-ended that it is being called QE Infinity. Doubts about its effectiveness are surfacing even on Wall Street. The Financial Times reports: Among the trading rooms and floors of Connecticut and Mayfair [in London], supposedly sophisticated money managers are raising big questions about QE3 [...]