Anthony Truong ‘Are US banks REALLY profitable?’ – Commentary – 22 April 2009

Various US banks, including Bank of America, Citigroup and Goldman Sachs, have recently released ‘better than expected’ quarterly results, causing some commentators to claim that the banking crisis is over, and that perhaps TARP wasn’t needed in the first place to save the financial system.
What’s interesting about these quarterly results isn’t so much the numbers [...]

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‘Are US banks REALLY profitable?’ – Commentary – 22 April 2009
comment No Comments Written by Anthony Truong on April 22, 2009 – 2:08 am

Various US banks, including Bank of America, Citigroup and Goldman Sachs, have recently released ‘better than expected’ quarterly results, causing some commentators to claim that the banking crisis is over, and that perhaps TARP wasn’t needed in the first place to save the financial system.

What’s interesting about these quarterly results isn’t so much the numbers – I mean, they are impressive, given the fact that the US has been in recession since December 2007, unemployment continues to rise at around 600,000 per month, and most economic reports being released are decidedly negative – but how those numbers are derived. Read the rest of this entry »

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‘Dow Theory’ – Market Update – US Equities – 5 October 2008

October 5, 2008 – 12:46 am

The same day that the House of Representatives (of the US Congress) passes the $700 billion rescue package, the Dow Jones Transportation Average falls below its January low to close at 4134.55, thus ...

Market Update – EUR/USD – 3 October 2008

October 3, 2008 – 3:57 pm

While the media was focusing on the falls in the major US indices overnight ("Bailout worries", etc - one day the rescue bill helps the markets, the next it causes uncertainty), what wasn't ...

Commentary – 3 October 2008

October 3, 2008 – 3:21 pm

The VIX should continue to rise, to historic record highs (it's only ticks away from surpassing the high in 1998). Of note is the fact that the EURUSD dropped below 1.3883 last night, ...

‘Vindication!’ – Market Update – US Equities – 30 September 2008

September 30, 2008 – 2:32 pm

Well, need I say anymore? I believe the intensive media coverage of last night's market action should be sufficient in terms of the implications of the failed bailout bill. Also note that Congress approved ...

‘Glass Half Full’ – Q&A – 29 September 2008

September 29, 2008 – 3:42 pm

Question: I can't afford to realise my (paper) loss at the moment; I'm staring at a $10k loss! I can't afford that dammit! Answer: Honestly, I know I'm not a financial advisor or similar, ...

‘Why would passing the bill in the US be ideal for a drop?’ (Part 2) – Q&A – 29 September 2008

September 29, 2008 – 2:28 pm

This post is a follow-up to the Q&A of 26 September 2008 ('Why would passing the bill in the US be ideal for a drop?'). Follow-Up: Not exactly the massive 'positivity' you were expecting ...

‘Why would passing the bill in the US be ideal for a drop?’ – Q&A – 26 September 2008

September 26, 2008 – 1:53 pm

Question: Why would passing the historic bill in the US be ideal for a drop...? I disagree; this will reinforce positivity in the short term and not a big humongous drop as you ...

‘High Alert!’ – Market Update – US Equities – 26 September 2008

September 26, 2008 – 10:08 am

Apologies for the bombardment of updates, but I thought the action in US markets overnight demanded another quick update. This is what I said in yesterday's US equities update: "I am anticipating a modest rally ...

Market Update – EUR/USD – 25 September 2008

September 25, 2008 – 4:02 pm

There are 2 main counts that I am following for the EUR/USD, from a long term perspective. [caption id="attachment_482" align="alignnone" width="530" caption="EUR/USD Weekly Chart (Count 1) - 24 September 2008"][/caption] Count 1: The EUR/USD cross ...

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