1) The Persistence of Wide Spreads Among European Debt – Even if Bond Holders are ‘Rescued'
2) Sovereign Debt Rollover Risks
3) The Depth of Italy's Recession
4) The ECB, LTROs and European Bank Funding
5) Widespread Global Slowdown
El Informe completo, lectura muy recomendada, aquí
domingo, 5 de febrero de 2012
Buen resumen de indicadores a seguir durante las formaciones de techos y suelos en el mercado de acciones
Equities have continued to rise even though the financial problems of the PIIGS (Portugal, Ireland, Italy, Greece and Spain) remain unresolved.
Bullish sentiment readings have reached extremes and investors have positioned themselves for a singular, bullish outcome.
While some market observers view high investor bullishness as an indicator that stocks will continue to advance, we believe lopsided sentiment is the Achilles' heel for markets.
In fact, all of the major declines in the past few years were preceded by extremes in bullish investor readings.
Figure 1 shows that bulls now outnumber bears by the second largest percentage in the past 4 years.
The last time the net percentage of bulls was as high as it is now was coincidentally just before the market topped in May 2011.
sábado, 4 de febrero de 2012
viernes, 3 de febrero de 2012
sábado, 28 de enero de 2012
domingo, 22 de enero de 2012
domingo, 18 de diciembre de 2011
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