This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
This chart is from the December 2011 Market Analytics & Technical Analysis                                                ...
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Long wave audio-slides-12-05-11-sub-santa_claus_rally

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  • Euro Zone Weighs Plan to Speed Fiscal Integration Euro-zone countries are weighing a new plan to accelerate the integration of their fiscal policies. Under the RUMORED proposed plan, national governments would seal bilateral agreements that wouldn't take as long as a cumbersome change to European Union treaties. The plan, which hasn't been finalized, would allow the euro zone to announce a speedy change to its governance. European authorities would gain tough new powers to enforce fiscal discipline in the 17 countries that make up the euro zone. EU treaty changes could then follow at a later stage. The precedent that euro-zone governments are considering is the Schengen agreement, under which a subset of EU countries scrapped passport controls at their mutual borders. The EU treaty allows countries to engage in "enhanced cooperation" if at least nine countries agree, circumventing the need for a unanimous treaty change among all 27 EU members. The pact that euro members are considering could be announced before the EU summit on Dec. 9th. ECB - EUROBONDSIt IS NOT clear that stricter enforcement of budget rules would be enough, at this late stage, to stem the crisis of confidence in the euro zone.Some euro-zone officials hope that the announcement of a new fiscal regime would encourage the European Central Bank to step up its intervention in government bond markets, which are suffering from a spreading investor exodus. But it's unclear whether the ECB, which has so far resisted such calls, would acquiesce. Some members of the ECB's governing council worry that deeper intervention by the central bank would amount to a breach of its charter and do irreparable harm to its credibility. The need for greater budget discipline and enacting growth-friendly structural reforms is only one of investors' concerns about the euro zone. Another big problem is the lack of ECB support for government bond prices, which makes bond markets vulnerable to a vicious circle of investor flight. While the ECB has so far said that it won't beef up its limited bond buying, a growing number of governments are lobbying it to change its stance. A green light from Berlin for a bigger ECB role is seen by many euro-zone policy makers as a political necessity if the ECB is to act. Although the bank is politically independent, it has also paid close attention to the debate in Germany, where the government has so far rejected a bigger role for the central bank. A new, binding fiscal regime would not be enough to justify the creation of collective euro-zone bonds, German officials say. But it might be enough to justify ECB action to stabilize bond markets that policy makers view as increasingly dysfunctional, some in Berlin say. Other German officials remain skeptical about a greater ECB role—including Bundesbank President Jens Weidmann, who sits on the ECB's governing council. Germany's central bankers have been outvoted by the ECB majority before, however, including this August, when Mr. Weidmann opposed the decision to make limited purchases of Italian and Spanish bonds. German Chancellor Angela Merkel said last week that she wants EU treaty changes to make the bloc's fiscal rules legally enforceable by European authorities, in the same way that EU antitrust rules are.
  • Long wave audio-slides-12-05-11-sub-santa_claus_rally

    1. 1. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    2. 2. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? EURO US$ MARKETS EU PLAN REVERSES WEAKENS RALLY • Treaty • YEN Carry • Flight To • "They are Changes Unwind Safety going to • ECB Slows/ Reverses Print the Mandated Reverses • "RISK" On Money" Rally Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    3. 3. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    4. 4. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    5. 5. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    6. 6. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    7. 7. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    8. 8. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    9. 9. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? ANYTHING OVER 5 SHOULD BE CONSIDERED SERIOUSLY ELEVATED PREVIOUS CURRENT BANKING RISK - LIBOR-OIS SPREAD 7 8 CREDIT RISK - GLOBAL CREDIT DEFAULT SWAPS 6 7 CREDIT RISK - EU CREDIT DEFAULT SWAPS 8 9 CONSUMER RISK - HOUSING - RATE OF CHANGE 7 8 ECONOMIC RISK - ECRI LEADING INDEX 6 8 INFLATION RISK - MONEY SUPPLY GROWTH - M3 4 5 INFLATION RISK - MONEY VELOCITY 4 4 MONETARY RISK - BANK LIABILITIES 7 8 COST OF MONEY RISK - INTEREST RATES 5 1 Average (1 = Low Risk, 10 = High Risk) 6.00 6.44 TRANSITIONING TO RISK-OFF Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    10. 10. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    11. 11. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    12. 12. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    13. 13. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    14. 14. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    15. 15. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.
    16. 16. This chart is from the December 2011 Market Analytics & Technical Analysis Report December 5th, 2011 Santa Claus Rally – Has it already happened? DISCLOSURE STATEMENT AND TERMS OF USE THE CONTENT OF THIS SLIDE PRESENTATION AND ITS ACCOMPANYING RECORDED AUDIO DISCUSSION ARE INTENDED FOR EDUCATIONAL PURPOSES ONLY. This slide presentation and its accompanying recorded audio discussion are not a solicitation to trade or invest, and any analysis is the opinion of the author and is not to be used or relied upon as investment advice. Trading and investing can involve substantial risk of loss. Past performance is no guarantee of future returns/results. Commentary is only the opinions of the authors and should not to be used for investment decisions. You must carefully examine the risks associated with investing of any sort and whether investment programs are suitable for you. You should never invest or consider investments without a complete set of disclosure documents, and should consider the risks prior to investing. This slide presentation and its accompanying recorded audio discussion are not in any way a substitution for disclosure. Suitability of investing decisions rests solely with the investor. Your acknowledgement of this Disclosure and Term of Use Statement is a condition of access to it. Furthermore, any investments you may make are your sole responsibility. THERE IS RISK OF LOSS IN TRADING AND INVESTING OF ANY KIND. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Listen to the original podcast for this slide at www.GordonTLong.com/LONGWaveThe content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of thisslide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

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