June 2009

[6:18am ET] As the world turns and equity markets seem ready to break-out up or down – probably down – it pays to study currencies. Money flows between countries are sizeable at the most stable times, but the situation today is volatile and significant trends and cycles are unfolding.

Today I listed the Currency ETF list, in alphabetical order, along with the order of the Average Volume of daily trading. I’d like to hear your comments, any and all, on your experiences, insights, whatever, regarding these ETF’s.

[Daily Vol]...Currency ETF List
[Rank of 31]

[7:25am ET] Yesterday, I made the point that a move was afoot by Interventionists to suppress concerns over the logical result of the Great Reflation Era, that being extreme inflation, and there were comments from people who believe that printing all this money would not head off the coming deflation. All I can do is keep the discussion simple in that if there is a massive action, I expect a massive reaction.

[8:55am ET] Although the Paychex Inc stock chart (PAYX) looks not dissimilar to the broad equity market, Goldman Sachs has downgraded the stock from Sell to Conviction Sell. Clearly there are a number of corporate client losses through the recession and the employee numbers per client are falling for this payroll accounting service company, but if Goldman sees Green Shoots and Abby Joseph Cohen envisions clear skies ahead for corporate America, I am puzzled why they now rate Paychex the worst level in their coverage.