Wednesday, January 30, 2013

MF Global -- Good News...

At long last, it looks like the MF Global situation will be resolved in a positive way -- with the possibility of making customers "whole."

The NY Times reports:

On Thursday, a bankruptcy court will review a proposal that would return 93 percent of the missing money to customers like Mr. Desai. And the trustee who has submitted the proposal, James W. Giddens, has quietly identified a way that, if sent to the judge and approved, could plug the remaining shortfall for customers in the United States, according to people involved in the case.

The broad push to make MF Global customers nearly whole, a goal now surprisingly within reach, is a remarkable turnaround from the firm’s 2011 bankruptcy filing when such a recovery seemed impossible.

Read more here:

Thursday, January 3, 2013

Stock Systems -- Go Flat 1/3/13 at 3:30pm

Our overall stock market signal has gone from bullish to neutral.  The S&P is currently at 1457.

The last signal change was on October 11, 2012, when the (intermediate-term) systems went long, when the S&P stood at 1438.  The systems rode some volatility -- but in the end, completed the bullish stance with a gain of 19 S&P points.

After the recent rise in stocks:
  • Our intermediate overbought indicators are now slightly bearish.  
  • Long-term model is bullish.  
  • Short-term model helped to bring us to the current neutral position.  
Happy New Year!