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  • Big Al Talks Deficit Financing...

    In This Issue..

    * Currencies hold gained ground VS dollar...
    * Swiss franc really shines!
    * Japan borrows a line from the U.S....
    * The Labor problem grows...

    Good day... And a Happy Friday to one and all! A Fantastico Friday, especially if you are a Los Angeles Lakers fan! Me? I've always been a fan of the Celtics, but since it's a long distance directory assistance relationship, it's not that big of a deal to me that they lost. When I was a kid, the Hawks were in St. Louis, and we won a championship, with Bob Pettit... OK, I was only 3... But my dad loved to talk about it!

    Well... We've had a day where the currencies gained VS the dollar, and then held their ground, for the most part... No profit taking, no debt crisis fears trading, just held their ground VS the dollar... Now, some would say... 'that's a sign that they've hit resistance and can't overtake it, which is not good for a rising asset'... But, me? Well, I would say, and will say... 'I find this to be refreshing. The last thing you want to see is an asset, which in this case is a currency like the euro, run up too much, too fast, for that WILL give the markets reason to sell. I prefer the slow gradual, stealth-like moves in currencies, so that they don't gain any attention, until the rally is well established.'

    ...
  • Jobs Disappoint Again!

    In This Issue..

    * Euro falls below 1.20...
    * Did we have negative "real" job creation?
    * Canada's labor market is strong...
    * G-20 yields nothing...

    Good day... And a Marvelous Monday to you! It was a wonderful jam-packed weekend for yours truly, and when the alarm went off this morning, I had a greater appreciation for 3-day weekends!

    Well... Friday, when I was signing off, I said that suddenly the currencies were getting sold... At that time, it looked as if it might be short-lived... But NOOOOOOOOOOOOOO! This was an all-out assault on risk, folks... At when the dust settled in the early afternoon, the euro had fallen below 1.20, for the first time since 2005, and everything other currency was getting whacked too... For the first time all week though, Gold rallied......
  • It’s A Jobs Jamboree Friday for 12/04/2009!

    In This Issue..

    * Commodity Currencies rebound...
    * Gold sees profit taking...
    * Canary in a coal mine...
    * It's Moving Day!

    Good day... And a Happy Friday to one and all! It's Moving Day for us here in the EverBank St. Louis office, as we will pick up our belongings and walk next door, to a larger, space, with some incredible views! We moved into this space 5 years ago, and we've been busting at the seams, with the threads holding on to dear life, for over a year now... So, this move is welcomed. Like I said the other day, in 1999, I sat in an office that we rented from the kind folks at Paylinx, and that was the beginning... From that tiny office to this! WOW!

    ...
  • More Strong Data Sinks The Dollar...

    In This Issue..

    * Currencies near 1-year levels...
    * Canadian loonies are best performer!
    * Dangling a carrot...
    * Oil trades above $72...

    Good day... And a Tub Thumpin' Thursday to you! Why Tub Thumpin'? Why not? Besides, the non-dollar currencies are darn near where they were a year ago, having a good chunk of the ground they lost during the Financial Meltdown last fall and winter... Not that I'm a cheerleader, but more of a 'this is what I believed would happen, and glad to see a plan come together' kind of guy!

    And since I, unlike throngs of people that like to point out errors, put my beliefs in writing every day... Right out there / here, in the open, for anyone to take pot shots at... But, I learned long ago that there will always be those that disagree, and not to let it upset or change the things I believe...

    ...
  • The ECB Clash Over Policy Again...

    In This Issue..

    * Initial Jobless Claims rise...
    * PPI does too!
    * Euros get hung out on a line...
    * Gold makes a comeback!

    Good day... And a Thunderin' Thursday to you! It may not be Thunderin' where you are, but apparently it was yesterday in my little river town, as I heard we had some shingles blow off... And... It certainly is Thunderin' over in the Eurozone this morning, I'll tell you why in a minute. So, let's get going don't want to get caught in any of that Thunder!

    I finished the last of my 3 presentations yesterday, and called it quits, as far as walking back and forth to the Conference Center. They'll just have to do without me at the booth! But the presentation was good, I think, and I made some very important points. None of which, were brand new to Pfennig readers!...
  • A Day Of Healing...

    * Currencies have a mini-rally... * Only to see profit taking overnight... * Gold rebounds too! * Retail Sales on board today... ** A Day Of Healing... Good day... And a Thunderin' Thursday to you! It was a Tub Thumpin' Wednesday yesterday for the currencies and Gold, after seeing them back off earlier this week! I'm in Jacksonville for a company event, and then on Friday morning, I head south to start my spring vacation! But first, some work to do here, and then on to the south! It was 29 degrees when I got in the car to leave for the airport yesterday morning... And it was 77 degrees when I finally arrived in Jacksonville! YAHOO! But even as loud as I can say YAHOO for the warm weather, which I've said over and over again, I've got to go where it's warm, it wasn't as loud as a the YAHOO yelped by currency owners as the euro led the currencies higher and higher all day long!...
  • A New Year’s Jobs Jamboree Friday...

    * Will the ADP report be a good indicator? * China to slow treasury purchases? * Gold as a store of wealth... * Dealing with the devil... ** A Jobs Jamboree Friday... Good day... And a Happy Friday to one and all! A Fantastico Friday, as it is forecast to get to 50 degrees today here in St. Louis. Never mind that tomorrow's high will be 29! It doesn't take away from today! What a trading day in the currencies yesterday... Whew! It's a Jobs Jamboree Friday, so let's not beat around the bush... It's time to Jamboree! Today is the day the Gov't prints the December Jobs Jamboree, and if Wednesday's ADP report did what they said it was going to, and that is change their methodology to mirror the BLS (Bureau of Labor Statistics) then this morning's Jobs Jamboree will be a nightmare. Of course not the kind of nightmare that the over 2.5 million people that lost jobs in 2008 had! I was once in those numbers, as our old Bank, Mark Twain Bank, was bought by a bigger bank, Mercantile Bank, and Mercantile decided after a few months to perform ethnic cleansing of Mark Twain employees... I called it "my retirement" but with a 3 year old at home and on my lap most of the day, "retirement" couldn't last too long! My point is that you don't know the emptiness and failure you feel when they show you the door... So my thoughts are always with those that lose their jobs......