Dan Stewart's The Wall Street Shuffle - July 17, 2013

A NorAm Media Group Publication - Celebrating our 53rd Anniversary  Wednesday, July 17, 2013 Breather Before Ben's Testimony by: Dan Stewart The only sectors that had a positive day were Consumer Staples, Information Technology, and Precious Metals including the miners. Even though the markets are technically "overbought," it is too early to tell whether the markets intend to rollover or this was just a consolidation day; a breather. Today we have lots of companies reporting as we begin the earnings season in full force. You will get your first glimpse as to whether earnings will be solid enough to drive the markets higher. Then we have Bernanke giving his 2-day, semi-annual Humphrey-Hawkins testimony (and interrogation) before Congress today and tomorrowe... Read More      Stock Market Correction Ahead by: Michael Pento The S&P 500 is trading at all-time nominal high, despite the fact that revenue growth has been hard to come by. So, where is the U.S. economy headed and what does it mean for earnings and equity prices? The U.S. Ten-Year Note yield has been rising of late. Absent another recession, or renewed European debt crisis that threatens the existence of the Euro currency, or the Fed launching QEV; the yield should approach 4% by the end of this year. How much should we be concerned about yields rising to that level? Well, the surge in yields from 1.6%, to 2.6% since the beginning of May has already caused purchase applications for new homes to plunge 28% month over month. Mr. Bernanke predicated the economy's healing on saving the real estate market. Since the Fed is now threatening to begin removing its stimulus programs, that primary support column for the economy is being eliminated. One has to question what rising rates will do for this so called recovery... Read More      'No Longer Necessary': Hungary Wants to Throw Out IMF – Wow, Bold Move, But is it a Black Swan in the making?! Consumers Hold Back as U.S. Retail Sales Moderate Sequester Part II Gives Obama Control of the Budget – Congress NEEDS to get their act together IMF debt repayment - Why does timing matter to Hungary? IMF has doubts on trading tax, suggests other levies – Yes, when it's a tax on banks themselves, the ECB & IMF "no likey." China raises, almost doubles, quotas on foreign investment in stocks & bonds – Bring your money here." AdvisorShares about to Launch International Bear ETF – When the bear market comes, this may be a good tool. ADDRESS: 15303 North Dallas Parkway Suite 1030 Addison, TX 75001 Toll-Free: 855-REAL-WEALTH or (855-732-5932) Office: 972-687-7765 Direct: 214-708-4555 dstewart@noramassetmanagement.com Material contained in this newsletter is the property of NorAm Media Group, Inc. and all rights are reserved. Unsubscribe