- Mid-Cap Value +.52%
- 1) Gold & Silver +3.35% 2) Homebuilders +1.84% 3) Airlines +1.81%
- CSII, KRO, RIG, VIP, VMW, ILMN, QEP, NUS, WHR, LXK, THRX, QEP and SBNY
- 1) NUS 2) XLU 3) VMW 4) FDX 5) RSH
- 1) UTX 2) DAL 3) HAL 4) CAT 5) HOG
Tuesday, October 22, 2013
Bull Radar
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On Tuesday, October 22, 2013, financial marketplace trading evidenced liberalism's peak nation state sovereignty, seigniorage, and moral hazard based prosperity.
Liberalism attained peak prosperity on global currency carry trade investing and a pursuit of yield. Both of liberalism’s spigots of investment liquidity were open full wide. Said another way, the financial markets were under total leverage as evidenced by the Euro, FXE, Ultra Junk Bonds, UJB, and Leveraged Buyouts, PSP, rising strongly, and the US Dollar, $USD, falling strongly lower.
Currency traders bought all of the major world currencies, DBV, as well as emerging market currencies, CEW.
The Japanese Yen, FXY, rose only a meager 0.05%, enabling a stunning leverage to those invested long risk assets, such as Biotechnology Stocks, IBB, Nation Investment, EFA, such as the Philippines, EPHE, and European Financials, EUFN, such as the National Bank of Greece, NBG, and Ireland’s Bank, IRE.
The Steepner ETF, STPP, traded a strong 2.1% lower, reflecting the flattening of the 10 30 US Sovereign Debt Yield Curve, $TNX:$TYX.
The flurry of currency leverage and debt leverage caused the US Dollar, $USD, UUP, to plummet to close at 79.29.
The precious metals often trade inversely of the US Dollar; and that was the case today as Gold, GLD, rose 1.8%, and Silver, SLV, rose 2.2%, stimulating Gold Miners, GDX, and Silver Miners, SIL, to rise 4.4%. The strong rise in Commodity Currencies, that is the Euro, FXE, and the Australian Dollar, FXA, caused Copper Miners, COPX, Global Industrial Miners, PICK, and Coal Miners, KOL, rose strongly. Gold and Silver are in breakout, but risk trading lower on soon falling currencies.
World Stocks, VT, rose a solid 0.7%. Sectors rising strongly included Biotechnology, IBB, Solar Stocks, TAN, Design Build, FLM, Pharmaceuticals, PJP, Global Consumer Discretionary, RXI, and Global Industrial Producers, FXR, Spinoffs, CSD, and Transportation, XTN,
The strength of liberalism’s peak currency carry trade investing, is seen in investors taking Ireland’s CRH, IR, and COV, and Netherland’s, ST, AER, ING, LYB, and PHG, as well as Germany’s ABB, and SI, strongly higher. And the strength of liberalism’s peak chasing of yield is seen in investors taking Tupperware, TUP, Cinemark, CNK, Ichan, IEP, Targa Resources, TRGP, and Vimpel, VIP, strongly higher.
Asia Excluding Japan, EPP, and the Eurozone, EZU, led World Stocks, VT, higher. In Asia, the Philippines, EPHE, New Zealand, ENZL, Turkey, TUR, Thailand, THD, Malaysia, EWM. and Australia, EWZ, KROO, led the way higher. In Europe, Germany, EWG, EWGS, the Netherlands, EWN, and Italy, EWI, led the way higher. Argentina, ARGT, continued to a new rally high.
Yield Bearing Sectors rising included Utilities, XLU, Global Utilities, DBU, Real Estate, IYR, and Global Real Estate, DRW, Global Telecom, IST, as well as Leveraged Buyouts, PSP.
Both Ireland’s Bank, IRE, and the National Bank of Greece, NBG, rose strongly, to new rally highs, as the European Financials, EUFN, rose, taking the Eurozone Stocks, EZU, higher, all on the, EUR/JPY, carry trade, which traded higher to close at 135.98, as the Euro, FXE, closed at 136.34, and the Yen, FXY, closed at 20.71.
The vertical rise seen in the chart of the EURUSD is truly stunning, and the parabolic rise in European Financials, EUFN, as well as nation investment in Ireland, EIRL, and its bank, IRE, marks the zenith of Liberalism as the age of investment choice which was based upon schemes of currency carry trade and central bank credit.
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