The VIX more than doubled over the past week, rising 118%, according to the folks at Crain’s. And no wonder — with the Dow down a thousand here, up a few hundred there, down several hundred again over there. If this be investing, most folks would rather stuff their money in the mattress. Who has the stomach for it? Read More
“It doesn’t sound nearly as scary as a death cross. But I’m much more interested in the 17,170 level on the Dow than any death cross (it briefly broke below that mark early yesterday before its afternoon comeback). That’s the Dow’s February low — and where a potential Dow theory sell signal would occur. Read More
Refiners are enjoying a 60% decline in the cost of oil, and they have had to take only a 26% haircut on their gasoline sales. With the price of oil dropping significantly more than the price of gasoline, refiners are enjoying wider profit margins on every gallon of gas produced.
No wonder the refiners are sitting in the catbird seat. They’ve got rocketing demand for their product coupled with mile-wide profit margins on every sale they make.
Japanese cars look cheaper than Korean cars to a buyer in Australia, so Japan gets the sale and Korea does not. Likewise, Chinese buyers paying in yuan will think twice about buying from Korea when the strong won makes the price that much higher to the Chinese consumer. Read More