SPAIN WARNS OF CREDIT FREEZE...
NEW YORK (CNNMoney) --
Spain's Treasury minister appealed to European leaders for financial support
Tuesday, saying the country's credit markets are seizing up. Full story at...
BESPOKE INVESTMENT GROUP: Worst week
Ever for US Economic Indicators? (last week)
We can't recall a worse
week for US economic indicators. While it was only a four-day week, there
were a large number of indicators released -- 21 to be exact...of the 21
releases, a whopping 18 came in weaker than expected! Just 1 out of the
21 indicators came in stronger than expected...have we just experienced a key
pivot point in which the US starts to underperform the rest of the world...? Full story at...
UCLA PULSE OF COMMERCE
Here’s an interesting, but underpublicized
indicator. UCLA’s Pulse of Commerce
Index (PCI) tracks fueling tickets for over the road trucking using real-time
fuel consumption data. The Blue line is the PCI. The yellow is Industrial Production. As noted by its
close correlation to Industrial Production, it was remarkably accurate in
predicting the Great Recession. It is also
remarkably in tune with GDP, although I didn't show that chart. It now seems
to be showing a slowdown may be coming.
NTSM
The NTSM remained SELL Tuesday.
It seems unlikely that
this correction will be over soon with all the bad news out there, but who
knows. We’ll see when the S&P 500
gets back below 1278.
MY INVESTED POSITION
I reduced my stock holdings to 30% (0% in stock
in the 401k) at S&P 1358 after the SELL signal on 9 May 2012. (See the page
“How to Use the NTSM System” – the link is on the right side of this
page). I cut my stock position to 15% on
17 May in order to maintain a 10% gain in a trading/longer-term position I had
in the QQQ.
