Archive for July 6th, 2010

Economist Rogoff Suggests Chinese Property Market is Collapsing

| July 6, 2010

Kenneth Rogoff, former chief economist at the International Monetary Fund (IMF) and coauthor of a book that we would highly recommend entitled This Time is Different: Eight Centuries of Financial Folly, believes that the Chinese property market is beginning a collapse that will impact the Chinese banking system significantly. “You’re starting to see that collapse […]

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Residential Mortgage Foreclosure and Delinquency Rates Rise in May

| July 6, 2010

Lender Processing Services reported that the US loan delinquency rate increased to 9.2% in May and the foreclosure rate increased to 3.2%. We expect this trend to continue as the residential housing market struggles to stabilize following the implosion of the largest speculative bubble in modern US history. The huge oversupply created during the bubble […]

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ISM Non-Manufacturing Index Retreats from Recent Highs

| July 6, 2010

The Institute for Supply Management (ISM) released its June 2010 non-manufacturing report, showing a drop in the non-manufacturing index to 53.8% from 55.4% in May. Although a reading over 50% still indicates expansion, the index has been holding at recent highs since early this year and may be in the process of rolling over, as […]

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Short-term Forecast for July 6, 2010

| July 6, 2010

Stock Chart Analysis Synopsis: The S&P 500 index closed moderately higher today, holding above recent lows of the downtrend from April. Technical Analysis: Technical indicators are moderately bearish as price action holds near recent lows at the bottom of the Bollinger bands, money flow reacts off of recent lows in negative territory, MACD momentum moves […]

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