Existing Home Sales Plunge Downwards

Houses For Sale

Photo credit to TaxRebate.org.uk

Peter’s commentary: Existing home sales dropped again. From ZeroHedge, Feb 23, 2015 With homebuilder sentiment slipping, blamed on the weather (despite improvement in the Northeast), Architecture billings down, and lumber prices down, it should not be totally surprising that existing home sales collapsed in January, which they just did tumbling -4.9% against expectations of -1.8% […]

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Yellen “Dovish”, Sees Economy Healing

Yellen Caricature

Peter’s Commentary: Fed Chair Janet Yellen was fairly “dovish” today with her comments. Inflation is currently below the 2% target rate. Yellen said that the inflation rate needs to move up to the 2% target before the Fed will consider increasing interest rates. At present the Fed is not seeing any significant pickup in wage growth. Because wages […]

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Ukraine Preparing For Full Scale War…Or Not?

Ukrainian Tank

Peter’s Commentary: Ukraine’s Deputy Foreign Minister, Vadym Prystaiko says he is preparing for full-scale war against Russia. Prystaiko wants Canada to supply lethal weapons and training to Ukraine. From CBC News, February 21, 2015: Vadym Prystaiko, who until last fall was Ukraine’s ambassador to Canada, says the world must not be afraid of joining Ukraine in the fight […]

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Ports Shutdown Averted, But Huge Backlog


Labor Secretary Thomas Perez, forged a compromise between the West Coast dockworkers and their employers. From Bloomberg: “This is now in the rear-view mirror,” Labor Secretary Tom Perez told reporters late Friday outside the San Francisco headquarters of the Pacific Maritime Association, which had been locked in the contract battle with the International Longshore and Warehouse […]

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Enforce Cease-Fire Or Not?

Peter’s Commentary: The four leaders of Germany, France, Russia and Ukraine talked by phone this Thursday. They condemned the fighting which has broken out during the week and agreed to continue to implement all the measures approved on 12 February in Minsk. However, Bloomberg reports that Germany may be unable to stop weapons being delivered […]

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Russia Launches New “Swift” System

St Petersburg, Russia

Peter’s Commentary: About 18 months ago, Europe and America threatened that they would stop Russia from using the SWIFT system. The SWIFT system is used to send money between financial institutions and is critical for countries to be able to trade with each other. Due to these threats, Russia has developed its own system. This […]

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Iraq Situation Report, February 14 – 16

Iraq Situation Report Feb 14 - 16

Peter’s Commentary: Here’s the latest Iraq Situation from UnderstandingWar.org. It details fighting and skirmishes that have occurred in Baghdad and north of Baghdad.  Major clashes are marked by red asterisks on the map. On February 15, ISIS executed 15 Peshmerga members they had captured previously. The situation in Baghdadi, (250 miles west of Baghdad), remains unclear; […]

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3 Possible Outcomes For Greece

Temple of Athena

Peter’s Commentary: Three possible outcomes for the Greek situation… From ZeroHedge, Tyler Durden, and Bloomberg, Vassilis Karamanis, February 17, 2015: When it comes to trading the possibility of a Grexit, Bloomberg strategist Vassilis Karamanis writes,that there are three possible outcomes. Scenario 1: Greece exits the euro Probability of Grexit is now increased to 50% from […]

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Silver Down Hard As Grexit Optimism Fades

Peter’s Commentary: Silver has fallen hard today. Dropped more than 5%. From ZeroHedge, Tyler Durden, February 17, 2015 It appears the overnight exuberance at the possibility of a Grexit is fading fast… Silver – already weak overnight – was suddenly monkey-hammered lower on massive volume… WTI is down almost $2 from intrday highs, testing towards $51.50 […]

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Gold…Daily, Weekly and Monthly Analysis

Gold Daily Chart

Peter’s Commentary: Here’s the daily chart of gold: A reverse head and shoulders pattern is currently in play. Gold broke up from the blue neckline early in January, and then late last week came back down to the neckline. This is a classic head and shoulders pattern that is seen at market bottoms. These normally have […]

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