Good morning. Cool chart showing that companies are not very good in buying back stocks when they are low valued…

(source: http://www.thereformedbroker.com/2012/10/12/the-buyback-epidemic/)

 

Two interesting charts on the retail sales figure in the US: the first showing how much the seasonal correction plays a roll…

·         http://www.zerohedge.com/news/2012-10-15/september-retail-sales-seasonal-vs-non-seasonal-spot-difference

 

… and the second shows the impact of the iphone

·         http://www.bespokeinvest.com/thinkbig/2012/10/15/strong-sales-of-electronics-and-appliance-retailers.html

 

“Spain prepares to make rescue request” starts to feel a bit like the “Greece is saved” from 2011… This time it is the FT reporting, though

·         http://www.ft.com/intl/cms/s/0/94f299ec-1706-11e2-b1df-00144feabdc0.html

 

The no-Grexit story is getting some credible support: by Merkel

·         http://www.reuters.com/article/2012/10/15/us-germany-greece-idUSBRE89E0Z920121015

 

The US way of deleveraging: by defaulting

·         http://www.zerohedge.com/news/2012-10-15/us-households-are-not-deleveraing-they-are-simply-defaulting-bulk

 

Two bits about High Frequency Trading: apparently profits are down 35%

·         http://www.nytimes.com/2012/10/15/business/with-profits-dropping-high-speed-trading-cools-down.html

·         http://blogs.reuters.com/felix-salmon/2012/10/15/why-theres-less-high-frequency-trading/

 

It’s all a matter of perspective: housing market ‘recovers strongly’ (left) or ‘is still nowhere to be seen’ (right)

·         http://www.businessinsider.com/3-big-areas-that-david-rosenberg-gets-right-2012-10

 

And speaking of housing: housing is supposed to lead the economy according to this chart. I don’t buy it.

 

·         http://www.businessinsider.com/lavorgna-housing-recovery-is-for-real-2012-10

 

Nice one: metaphors and expressions used by the candidates in their first debate

·         http://www.economist.com/blogs/graphicdetail/2012/10/daily-chart-6

 

Oh no: it’s the TMT bubble all over again!

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·         http://www.bespokeinvest.com/thinkbig/2012/10/15/one-year-trading-range-charts-for-the-ten-sp-500-sectors.html

 

California, the 9^th economy of the world.

·         http://soberlook.com/2012/10/california-munis-return-from-dead-as.html

 

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