July 1st is the day Canadians "take off" to celebrate Canada Day, so the there will be no trading in Toronto.
Thursday, July 1, 2010
Canada Day, Eh!
July 1st is the day Canadians "take off" to celebrate Canada Day, so the there will be no trading in Toronto.
McAlvany Weekly Commentary, June 30, 2010
Global Financial Market Rollover? David McAlvany from Zurich, Switzerland
Posted on 30 June 2010.
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RBS Warns: Global Stocks, Commodities to Crash
Global stocks and commodities, outside of gold, are poised to crash amid continued woes for banks, according to RBS strategists.
Central banks will have to keep easing, which means Treasuries and gold will rise, while equities and commodities plummet, they wrote in a research note obtained by CNBC.
"Surely risks associated with us being wrong are low, i.e. (Treasury) rates stay where they are," wrote chief RBS credit strategist Andrew Roberts.
"But risks associated with us being right are 10 percent returns in 10-year Treasuries and at the same time that equities/commodities will collapse far beyond what even some equity bears anticipate." (more)
Central banks will have to keep easing, which means Treasuries and gold will rise, while equities and commodities plummet, they wrote in a research note obtained by CNBC.
"Surely risks associated with us being wrong are low, i.e. (Treasury) rates stay where they are," wrote chief RBS credit strategist Andrew Roberts.
"But risks associated with us being right are 10 percent returns in 10-year Treasuries and at the same time that equities/commodities will collapse far beyond what even some equity bears anticipate." (more)
The Future Market for Alternative Cars
Tesla became the first American automaker to go public since 1956 today as shares began trading under the ticker TSLA on the Nasdaq. With its most expensive car selling for more than $100k, Tesla is looking to strike a chord with wealthy yet environmentally conscious car buyers. Later this year, Chevrolet hopes its Volt (a price tag about half the size of the Tesla Roadster) will become the first electric car for the masses.
Building this industry from the ground up isn’t an easy task. There were more than 260 million registered vehicles in the United States last year and only a small percentage of those are fueled by alternative energies.
The transportation sector consumed 27.92 quadrillion British thermal units (Btus) of energy in 2008, roughly 28 percent of all energy consumed in the U.S. Of that, petroleum products accounted for nearly 95 percent. Electricity and natural gas combined accounted for less than 3 percent. (more)
Is the Market Due for a Modest 'Right Shoulder' Rally?
With all the grim economic news out of Europe and China and the disappointing U.S. jobs report released Wednesday, it might seem counterintuitive to expect the stock market to rally. But there are three technical reasons to suspect the market will muster a modest rally in the next few weeks.* The VIX "fear index" is flashing an extreme of negative sentiment, which usually signals that the market is at a bottom.
* The "head and shoulders" chart pattern many see hasn't really completed the classic form.
* Time symmetry suggests another rally into mid-July.
These all may sound like obscure and overcomplicated reasons to expect stocks to rise under current conditions, but read on for the analysis. (more)
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