Michael Ashton

E-PIPHANY

Contributor since: 26 Feb 2010

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• Slowly Escaping Gravity

  Published 31 January 2011 | viewed 0 times

  I thought there was a decent chance that the riots in Egypt would blow over during the weekend. Not so - the protests continue apace…

• Why Egypt Matters

  Published 28 January 2011 | viewed 0 times

  Warning: There are political opinions expressed along with market opinions below. If your sensibilities are inflamed by reading political opinion, please do not read the…

• What To Make Of This?

  Published 27 January 2011 | viewed 0 times

  Initial Claims at 454k? This is a curveball! We are reaching the end of the most difficult period of seasonal adjustment, so this jump is…

• Recovery On 30 Houses Per Day

  Published 26 January 2011 | viewed 0 times

  It has always been amazing to me the way that investors will confuse levels and changes. When I was new in the finance industry, I…

• Keep Your Bonds

  Published 26 January 2011 | viewed 0 times

  The volumes ended up higher today, albeit still weak, and after trading down all day stocks ended up unchanged. Momentum is ebbing, but to that…

• Sputtering

  Published 24 January 2011 | viewed 0 times

  In Ireland, the government is collapsing (I am not a scholar of Irish politics; the correct verb tense may be "has collapsed") as Prime Minister…

• Don't Call Me Stupid

  Published 23 January 2011 | viewed 0 times

  Equities eked out another small gain, and fixed-income bounced as well, as another patch of unseasonably-cold weather headed for the east coast. This weather itself…

• The Hypnosis Is Wearing Off

  Published 20 January 2011 | viewed 0 times

  Economic data today took a turn for the better, but should be placed properly in context. An important fact, though, is that for the first…

• Recovering Our Senses

  Published 19 January 2011 | viewed 0 times

  Markets recently have been reversing Mackay's classic observation that "Men...think in herds; it will be seen that they go mad in herds, while they only…

• Ripples Of Inflation Concern

  Published 18 January 2011 | viewed 0 times

  Another quiet, weather-dampened day as a minor ice/slush storm trickled across the Northeast. Traders easing back from the holidays defaulted to the recent, easy trade…

• The Outlook For Inflation

  Published 16 January 2011 | viewed 0 times

  Retail Sales was softer-than-expected (+0.6%, +0.5% ex-auto, plus downward revisions, versus 0.8%/0.7% expected), Industrial Production stronger-than-expected (+0.8% versus +0.5%), and CPI a smidge above expectations…

• Perfect Drugs From Perfect Pharmacists

  Published 13 January 2011 | viewed 0 times

  We prepare to head into the long Martin Luther King Jr. Day weekend with some interesting data today and some even more interesting data tomorrow.…

• The Farce Is With Us

  Published 12 January 2011 | viewed 0 times

  The stock market leapt anew today, breaking out of the tedious range that has frustrated bulls for a whole week and a half. Ostensibly an…

• Happy Binary Day! (1/11/11)

  Published 11 January 2011 | viewed 0 times

  Earnings season has begun again, and investor ebullience is in high froth. This isn't to say that every announcement, even announcements of "beats," is being…

• Better To B

  Published 10 January 2011 | viewed 0 times

  It was a reasonably quiet Monday, as expected considering there was no economic data due. Stocks sagged in the morning, and both stocks and bonds…

• It Depends What You Mean By 'Somewhere In Between'

  Published 08 January 2011 | viewed 0 times

  Aren't December Payrolls fun? The economy generated 103,000 new jobs in December. While upward revisions of 32k to November's data and 38k to October's data…

• Surprise, Surprise? Or Not

  Published 06 January 2011 | viewed 0 times

  In December, the Employment number was a dismal disappointment, weak on almost every count. And yet, a month later, we prepare for the next Employment…

• Stoking The Engine With Paper

  Published 05 January 2011 | viewed 0 times

  The bond market was higher overnight, and the stock market lower, largely on news that the Swiss National Bank said they will no longer accept…

• Santa Claus Came To Town

  Published 04 January 2011 | viewed 0 times

  I think it is good to start the new year, when possible, with a proper dose of humility. Back in early September (in this comment),…

• Portfolio Projections For The New Year

  Published 18 December 2010 | viewed 0 times

  Bonds lifted off today, with the 10y rate all the way back to 3.33%, but this time with TIPS underperforming. We really have seen it…