US ECONOMY (September 27th 2012): US Housing, Is the Trade OVER? Or is this Theme just warming up?

One great distraction over the summer (with the overall market moving in the opposite direction to economic data courtesy of QE), has been the US Housing trade. As we know, US Housing fell off a cliff in 2007-2008. It began to recover in 2009, but stalled in 2010. We've been awkwardly waiting for US Housing to get going throughout 2011, and so far in 2012 the recovery...

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GLOBAL ECONOMY (September 24th 2012): QE3 vs Economic Data, and Why We Won't Chase Risk

Since March 2012, global economic data in terms of quality leading indicators, has deteriorated in a strongly negative trend. The market gave us plenty of opportunities to sell the rallies once we got to this stage if we chose to. Even our leading market breadth indicators, the Bullish Percentage charts, wisely guided us to bearish conclusions in April, telling us to fade...

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