The Market Ticker The latest estimate is now out from the CBO, and is the usual practice, the deficit number keeps getting bigger: President Obama’s fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to...

Zero Hedge The maestro managed to run away from the old folks’ bent on monetary destruction home just long enough to carry this amusing interview with Bloomberg TV’s Al Hunt. Tomes (will) have been written about Greenspan’s dementia, just as books will be available on the Kindle one day analyzing his successor’s massive mistakes...

Money Game This was from one of David Rosenberg’s daily notes earlier in the week. (Thanks to PragCap for reminding us to run it) —– A good friend, and long-time reader, was kind enough to pass along these thoughts yesterday.  Basically, the stars are starting to align for something really big to happen. First, the Shanghai index...

Tim Iacono As compared to activity last year at this time it wasn’t much, but recent additions to the gold holdings at the SPDR Gold Shares ETF (NYSE:GLD) are certainly a move in the right direction if ETF demand is to again play any sort of major role in the gold market. The “tonnes in the trust” rose by more than nine tonnes in just the...

Because the Federal Reserve now owns over 10% (!) of all mortgage debt outstanding. (via Waverly Advisors) H/T Money Game

The Market Ticker Yeah, I know, Obama has said that there would be no “material” impact to finances until 2014. Liar. Truth: Caterpillar and John Deere already announced non-cash charges of $100 and $150 million, respectively, for this year based upon the impact of this bill on forward retiree health care costs. The law says you must...

The market gapped higher this morning after yesterdays heavy selling. At this time the market (metals and indexes) are trading at resistance on light volume. This tells me people are a little spooked from yesterday and just do not want to buy at these lofty prices. Stock Market Training Education I am trying to provide you with more insight and trading...

It has been a while since we looked at the dollar index, so today we decided to dissect this market and look at it step-by-step. What is happening in this market is very interesting and I think you will see in this short video just what we have in mind. Click Chart Below to View The Video

Sunesis Pharma spikes on WSJ Blog story:  Hedge fund manager said stock could go to $3-$5 in a few months. WSJ Blog discusses recent conversation with a hedge fund manager. The manager said “my number one position by far is Sunesis Pharmaceuticals,” he told me. SNSS makes Vorolexin, a drug for treating AML leukemia. Phase II results...

Scott Redler of T3Live Yesterday I sent out a note across the T3Live community stating that I am sellnig my macro longs. This rally has met my targets and it’s now time to get flexible. 1,110-1,170 was the “meat of the move.” I did not see a topping-type pattern yesterday, but was just cleaning up my risk. TODAY we had a major...

Courtesy of JESSE’S CAFÉ AMÉRICAIN Do we have another Harry Markopolos here, describing in detail the manipulation of the silver markets by J.P. Morgan to the CFTC? How does this square with the testimony today from the CFTC Commissioners, who seem to indicate that the markets are functioning extremely well, and that investor can have full...

H/T Zero Hedge Someone at 33 Liberty is so getting fired today. Geithner must have went to file his taxes and left his Plunge Protection trading station.

Joe Weisenthal of Business Insider Things are starting to happen on the foreclosure front which will probably have long-tern negative consequences, but which in the short term may mitigate the the situation somewhat. Until now, the big news of the week has been Bank of America (BAC) announcing plans to get serious about principal reduction —...

Courtesy of The Pragmatic Capitalist Another earnings season is around the bend and it’s shaping up to be another good one. As we’ve repeatedly mentioned over the last 6 quarters the environment is and remains particularly ripe for profit outperformance. The trends that have been in place for the last 6 quarters remains largely intact....

Our friends at Elliott Wave International have just released a free 34-page eBook, Understanding the Fed. It’s the free report the Federal Reserve doesn’t want you to read! This eye-opening free report, which represents ...