by Karl Denninger Heh, what’s this crap? Indicators Suggest Continued Growth The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, edged up slightly from a revised reading of 6.8 in December to 7.3 in January.* The demand for manufactured goods showed continued growth this month: The new orders index remained positive for the fourth consecutiv Read More...

Scott Redler T3Live The market charged higher almost all day Wednesday, closing at its highest level since July. The Nasdaq was the strongest index, closing 1.5% higher, while the S&P gained 1.1%. Yesterday major US indices gapped up 1% but could not hold most of those gains. Today was a different story. After opening near flat stocks, buoyed by non-disastrous earnings by Goldman Sachs (GS), n Read More...

by Tyler Durden The slippery slope of lower volume continued today in the NYSE (cash/stock trading markets) despite ES (the e-mini S&P futures market) seeing its 2nd highest volume since 12/16 as that futures market has only seen 1 day of the last 11 with a negative close-to-close change. Driven seemingly by yet another rumor that the Greek PSI deal is close (yet GGBs are lower?), risk asset Read More...

Courtesy of Phil’s Stock World The World Bank cut it’s Global Growth Outlook – Again. The Washington-based institution said the world economy this year will grow 2.5 percent, down from a June estimate of 3.6 percent (DOWN 25%). The World Bank sees the euro area contracting 0.3 percent in 2012 (RECESSION), compared with a previous estimate of 1.8 percent growth (DOWN 120%). The U. Read More...

Tim Iacono Here’s another one of those neat graphics from Spiegel Online, this one related to a storyyesterday about what they consider to be only a “temporary respite” from the credit market troubles that have accelerated in recent weeks and months. If not for the swath of S&P credit downgrades in recent days, there would probably be even more sore arms in Europe from everyone patting Read More...

Courtesy of Jesse’s Cafe Americain  This is not a particularly large deal, but it is another sign of the continuing erosion of the ad hoc Bretton Woods II currency regime and a growing disorder in global banking. Change is not just coming, it’s here.  The usual US public reponse is dismissive: ‘where else will they put their money?’ But behind the scenes the US is wo Read More...

As you know, Daily Momentum Trader is now LIVE… and Dr. Adrian Manz has just added a few videos of recent trades he’s made in just the last few days. These are actual live trades he made, in a real money trading account, with the day trading recos he gives subscribers each night. Check out Daily Momentum Trader now.  One of the reasons why the Daily Momentum Service is so valuable—es Read More...

Jim O’Neill by Tyler Durden Cutting down to the chase on Goldman’s numbers, the top line was weak, with the company reporting $6.05 billion in total Q4 revenue on expectations of $6.39 billion. The primary reason was a decline in all segments Year over Year with Investment Banking tumbling 43% to $863 Million, Institutional Client Sales down 16% to $3.1 billion, Investment Manage Read More...

February crude oil closed higher on Tuesday as it consolidates some of last week’s decline. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If February extends last week’s decline, December’s low crossing at 92.70 is the next downside target. If Read More...

Submitted by Tyler Durden Friday was the most active day in ES (the e-mini S&P 500 futures contract) since 12/16 and today saw volume once again surge in the futures market as it tested 1300 for the first time since 7/28. However, NYSE stock volume (which managed a very late-day spurt on Friday) was dismal once again today (for instance -25% from Friday with 3 minutes to go) with once again a Read More...

Todd’s Trade Boring day.  Many trades ended up being closed for break-even. AMZN was a good long, but took it off WAY too soon.  I actually exited on a trigger to go long (second up-arrow under the macd). FSLR long was basically a b/e trade, really should have gone short at $40.25 for that 2b short setup GS long, another b/e trade.  I was targeting the $100.35 area and price just came s Read More...

Courtesy of Mish Bernanke is trying every way he can to get banks to lend (printing coupled with a multitude of lending facilities and Fed programs). It’s easy enough to prove the printing: Base money supply is up about $1.8 trillion since the start of the recession. Base Money Supply  Money Multiplier Theory  The Money Multiplier Theory (an incorrect theory) suggests this money would b Read More...

Submitted by Tyler Durden When yesterday we presented the view from CLSA’s Chris Wood that the February 29 LTRO could be €1 Trillion (compared to under €500 billion for the December 21 iteration), we snickered, although we knew quite well that the market response, in stocks and gold, today would be precisely as has transpired. However, after reading the report by Credit Suisse’s Read More...

by Karl Denninger For real? The Empire State Manufacturing Survey indicates that manufacturing activity expanded in New York State in January. The general business conditions index climbed five points to 13.5. The new orders index rose eight points to 13.7 and the shipments index inched up to 21.7. The prices paid index was positive and slightly higher than it was last month while the prices rece Read More...

The only surprise in the downgrade of nine European sovereign borrowers was that it took so long. It is a classic case of locking the barn door after the horses have bolted. The only unknown is how many more downgrades remain. The marketplace is already valuing this paper at CCC levels, with ten year yields violently fluctuating around the 7% handle. So the BBB+ awarded to Italy, down from A, seem Read More...