Daily Updates

Startling Chart: A 20 Year Low on the SP 500 Closing In

Posted by ZeroHedge.com comment via Richard Russell

on Friday, 26 November 2010 8:58

I’m not worried about the stock market. I’m not worried because I know that the bull market lasted from 1980 to 2007 (some say from 1974 to 2007), and after huge extended bull markets, we’ll experience big bear markets (which I’m psychologically prepared for). – Richard Russell has made his subscribers fortunes. One of the best values anywhere in the financial world at only a $300 subscription to get his DAILY report for a year. HERE to subscribe.


SP 500 20 year low

Click HERE for Larger image

“Is A Twenty Year Low On The Real (Not Nominal) S&P Approaching?”

Sean Corrigan of Diapason Securities, which looks at the S&P on a trade weighted basis, and which looks at the various market cycles not so much from a stock/PE boom-bust basis, but from the view of monetary strength of the underlying currency backing the US stock market, namely the dollar.

Click HERE to read  “Is A Twenty Year Low On The Real (Not Nominal) S&P Approaching?”

Precious Metals

The parameters outlined in the reports of October 24th and November 8th have served us well.  The oversold ‘Springboard’ alert in Gold on October 22nd resulted in a $100 rally in the following two weeks.  The November 8th report outlined the overbought conditions in Silver and the Silver/Gold ratio with the likelihood of a ‘gold correction that should be capable of holding around the 50-day moving average’.  This Wednesday saw the gold price kiss the average at $1331.

While the nominal price of silver did recently see some signs of exponential action, the gold market continues to perform in a normal bullish mode.

….read more & view charts HERE

U.S. corn ethanol “was not a good policy” – Gore

Total U.S. ethanol subsidies reached $7.7 billion last year according to the International Energy Industry, which said biofuels worldwide received more subsidies than any other form of renewable energy.

“It is not a good policy to have these massive subsidies for (U.S.) first generation ethanol,” said Gore, speaking at a green energy business conference in Athens sponsored by Marfin Popular Bank.

….read it all HERE

 

Former U.S. vice-president Al Gore said support for corn-based ethanol in the United States was “not a good policy”, weeks before tax credits are up for renewal.

U.S. blending tax breaks for ethanol make it profitable for refiners to use the fuel even when it is more expensive than gasoline. The credits are up for renewal on Dec. 31.

Total U.S. ethanol subsidies reached $7.7 billion last year according to the International Energy Industry, which said biofuels worldwide received more subsidies than any other form of renewable energy.

“It is not a good policy to have these massive subsidies for (U.S.) first generation ethanol,” said Gore, speaking at a green energy business conference in Athens sponsored by Marfin Popular Bank.

“First generation ethanol I think was a mistake. The energy conversion ratios are at best very small.

…..read page 2 & 3 HERE

I have been warning since 2007 that European banks were in at least as bad a shape as US banks. Recent events in Greece, Ireland, Portugal, and Spain should make it clear to even the Euro bulls just how severe the stress on the Euro is.

120 Years of Massive Booms & Swoons In Real Estate

Posted by Paul V. Azzopardi APV Investment Mgmt

on Friday, 26 November 2010 8:00

RealEstateChart

CLICK on IMAGE for FULL SIZE CHART. House Price analysis begins on page 2 of this 3 page report.

House prices in the US may have some more to fall, especially if unemployment remains so dismal and if even more bad paperwork keeps surfacing, but prices now seem to be meeting some resistance to dipping below 2000 prices.  House prices, therefore, are basically back to where they were ten years ago.

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