The New Laws of the Stock Market Jungle: An Insider's Guide to Successful Investing in a Changing World, By Michael J. Panzner

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Insights and Links

Something to Consider

U.S. Bank Sector Hits New Relative Low vs. S&P 500
(April 9, 2007) [Graph]

China's Stock Market: Nasdaq Bubble All Over Again?
(April 4, 2007) [Graph]

Correlations: Crude Oil and Relative Sector Performance
(March 29, 2007) [Graph]

Lumber-CRB Ratio vs. U.S. GDP: More Economic Weakness Due?
(March 23, 2007) [Graph]

AAII Bearish Sentiment at Lowest Level Since January 2006
(February 26, 2007) [Graph]

Performance of S&P 500 Around Expiration Fridays
(February 15, 2007) [Graph]

S&P 500 in US$, Yen, and Euro
(February 12, 2007) [Graph]

Mid Cap vs. Large Cap Performance in Selected Markets
(February 8, 2007) [Graph]

2007 Relative Performance of Selected U.S. Indices
(February 6, 2007) [Graph]

Cumulative U.S. Annual Budget Differences vs. Statutory Debt Limit
(February 5, 2007) [Graph]

ISM Manufacturing Index vs. U.S. Gross Domestic Product
(February 1, 2007) [Graph]

Performance of S&P 500 Sectors Since March 25, 2000 Index Peak
(February 1, 2007) [Graph]

Gold Entering Seasonally Weak 6-Week Period
(January 31, 2007) [Graph]

Bond Yields on the Upswing Worldwide
(January 26, 2007) [Graph]

N.Y.C. Temperature and the U.S. Stock Market (1900 - 2006)
(January 19, 2007) [Graph]

First Half of January Rank vs. Median Subsequent Second Half Rank of S&P 500 Sectors
(January 16, 2007) [Graph]

U.S. Economic Growth and Changes in Oil Prices
(January 12, 2007) [Graph]

Financial Services Industry: Productivity Miracle--or Less Personal Service?
(January 10, 2007) [Graph]

Relative Inflation Trends by U.S. Region
(January 10, 2007) [Graph]

Relative Performance of CRB Index Sectors Since May Peak
(January 5, 2007) [Graph]

Relative Changes in Share of U.S. Prescription Drug Market
(January 4, 2007) [Graph]

Do Sector Returns Have Predictive Power?
(January 3, 2007) [Graph]

Which Way Will We Go?
(January 2, 2007) [Graph]

S&P 500 Monthly Winning and Losing Streaks (1956 - 2006)
(January 2, 2007) [Graph]

Correlations between Emerging and Selected Global Market Indices
(December 19, 2006) [Graph]

U.S. Sector Correlations: Signaling Impending Trend Change?
(December 14, 2006) [Graph]

Relative Value of Global M&A Transactions vs. MSCI World Index
(December 12, 2006) [Graph]

Credit Card Borrowing vs. House Prices: Rational Consumer Behavior?
(December 8, 2006) [Graph]

E.U. and U.S. Second-Half of December Sector Returns
(December 7, 2006) [Graph]

Money Supply and Relative Sector Shares of Total U.S. Debt
(December 6, 2006) [Graph]

Selected Relative U.S. Wholesale Inventories
(November 29, 2006) [Graph]

Ratio of Russell 3000 to Money Market Fund Assets
(November 27, 2006) [Graph]

NASDAQ-100 14-Week RSI at Multi-Year Overbought Extremes
(November 22, 2006) [Graph]

Relative Q-T-D Performance of Mideast Stock Markets: Sandstorm Ahead?
(November 16, 2006) [Graph]

Block Money Flow: Signs of Negative Divergence in Major ETFs
(November 15, 2006) [Graph]

US Yield Curve: 10-Year/2-Year Spread Hits Multi-Year Low
(November 14, 2006) [Graph]

Change in Relative Share by Category of Annual U.S. Consumer Expenditures
(November 9, 2006) [Graph]

CPI vs. IRS Mileage Reimbursement Rate: "Hidden Tax"?
(November 3, 2006) [Graph]

U.S. Retail Sales: Changing Share of Selected Categories
(October 31, 2006) [Graph]

September New Home Sales Monthly Median YoY Price Fall: Lowest in 35 Years
(October 26, 2006) [Graph]

Two-Horned Bull? Sector Laggards Become Leaders in Recent Run
(October 25, 2006) [Graph]

ABC Consumer Sentiment vs. S&P 500: Disconnect?
(October 24, 2006) [Graph]

Large Spec Net Long/Short Position in S&P 500 Futures: Negative?
(October 20, 2006) [Graph]

Commodities: Grains Picking Up Slack as Others Head South
(October 16, 2006) [Graph]

Fed Easing Cycles When the Dow Is Near a 52-Week High
(October 11, 2006) [Graph]

Semiconductor Index vs. Nasdaq Composite: Less than "Chipper"?
(October 10, 2006) [Graph]

Historical Pattern of Number of Winning Months in a Year for S&P 500
(October 2, 2006) [Graph]

QQQQ and Block Money Flow: Distribution from Strong to Weak Hands?
(September 27, 2006) [Graph]

Which is the Real Bubble?
(September 21, 2006) [Graph]

S&P 500 Sector Advance-Decline Lines: Two Sectors Diverging From the Rest?
(September 19, 2006) [Graph]

Relative Performance of CRB Sub-Groups Since the May 11, 2006 Peak
(September 18, 2006) [Graph]

Correlations between Volatility Index and Selected Asset Classes
(September 15, 2006) [Graph]

U.S. House Prices vs. Energy Shares: Strange Correlation?
(September 13, 2006) [Graph]

E.U. Relative to U.S. 10-Year/2-Year Spread: European Slowdown Next?
(September 12, 2006) [Graph]

China Trade Surplus: August a Record -- Fallout Ahead?
(September 11, 2006) [Graph]

U.S. Relative to World Equity Turnover on the Decline?
(September 7, 2006) [Graph]

Expectations vs. Reality: Philadelphia Fed Survey
(August 29, 2006) [Graph]

Ratio of Temporary Services Employment to Total: Leading Indicator for Stocks?
(August 23, 2006) [Graph]

Four of a Kind? Volume and Price Not in Synch in U.S. Shares
(August 16, 2006) [Graph]

Month of the S&P 500's High for the Year
(July 27, 2006) [Graph]

Changes in Relative Market Capitalization of S&P Sectors
(July 24, 2006) [Graph]

Individual Investors: Overly Negative?
(July 20, 2006) [Graph]

Mideast Oil Fears: Masking a Peak in Wholesale Inflation?
(July 17, 2006) [Graph]

Equity and Bond Mutual Fund Flows: Foreign Relative to Total
(July 12, 2006) [Graph]

Correlations Between CRB Index and "Commodity Currencies"
(July 10, 2006) [Graph]

New Homes: Not Just Price Inflation
(July 5, 2006) [Graph]

Nasdaq-100 Large Speculator Net Short: Deja Vu All Over Again?
(July 5, 2006) [Graph]

Second Quarter Earnings Surprises: Better than the Rest?
(June 26, 2006) [Graph]

Household Net Worth and Stock Prices
(June 23, 2006) [Graph]

Median Subsequent Quarter Rank of Best and Worst S&P 500 Sectors
(June 22, 2006) [Graph]

Block Money Flow in Small Cap ETF: Further Strength Ahead?
(June 16, 2006) [Graph]

Chinese CPI: Poised to Catch Up -- or Artificially Low?
(June 15, 2006) [Graph]

U.S. Equities: Sentiment Indicator Hits Multi-Year Extreme
(June 13, 2006) [Graph]

U.S. Equities: What Matters Most?
(June 9, 2006) [Graph]

Equity Markets: Changing of the Guard?
(June 8, 2006) [Graph]

MSCI Emerging Relative to EAFE Breaks Key Uptrend
(May 23, 2006) [Graph]

Nasdaq Composite Breaks Key Long-Term Uptrend
(May 22, 2006) [Graph]

Real Estate Loans as a % of Total Loans and Leases at Commercial Banks
(May 15, 2006) [Graph]

Ratio of S&P 500 to 10-Year Bond Yield: Below 12-Year Uptrend
(May 13, 2006) [Graph]

Disposable Personal Income Relative to GDP Hits 25-Year Low
(May 12, 2006) [Graph]

Is Bearish Stock Market Sentiment Cyclical?
(May 11, 2006) [Graph]

Relative Sector Performance: U.S. vs. Global Equity Markets
(May 9, 2006) [Graph]

S&P 500 Sectors on the Day of/after an FOMC Rate Hike
(May 7, 2006) [Graph]

Bonds vs. Stocks: Short-Term Reversal of Fortunes Due?
(May 5, 2006) [Graph]

Commodities: Where's the Bull?
(May 5, 2006) [Graph]

Monthly Inflation and Equity Market Returns
(May 3, 2006) [Graph]

Gasoline: Hole in the Wallet also Hitting New Extremes
(May 1, 2006) [Graph]

Financial Safety-Net Arbitrage?
(May 1, 2006) [Graph]

Spread between Wholesale and Retail Gasoline Prices
(April 24, 2006) [Graph]

Business Week and Blue Chips: Contrarian Dreams?
(April 10, 2006) [Graph]

Nasdaq 100 Futures: Large Speculator Switch a Negative?
(April 5, 2006) [Graph]

U.S. Bond Yields: Forget About China -- How About Japan?
(April 4, 2006) [Graph]

Copper: Fading Large Speculator Interest a Warning Sign?
(April 4, 2006) [Graph]

New Highs...for Risky Behavior?
(April 3, 2006) [Graph]

Seasonal Pattern of S&P 500 Energy Sector Relative to Index (1990 - 2006)
(March 30, 2006) [Graph]

Euro-US Libor Rates: Real Tightening Action in Europe?
(March 29, 2006) [Graph]

Despite a Three-Year Bull Run, Nasdaq Volume Has Not Kept Pace -- Until Recently
(March 29, 2006) [Graph]

Emerging Market Currencies: Beginning to Submerge?
(March 28, 2006) [Graph]

Full Year Gains and Losses When the S&P 500 Index Rises 4% in Q1
(March 27, 2006) [Graph]

The Day the (High-Flyer) Music Died?
(March 24, 2006) [Graph]

Back towards Neutrality: At Least Three More Rate Hikes?
(March 23, 2006) [Graph]

U.S. Primary Energy Consumption by Sector
(March 22, 2006) [Graph]

Equity Sector Correlations: Cracks in the Ice?
(March 21, 2006) [Graph]

5-Year Performance of Selected World Markets
(March 20, 2006) [Graph]

Wage Trend Indicator Rises Again:
Inflation on the Way?
(March 17, 2006) [Graph]

Small Cap Relative to Large Cap Sector Performance
(March 16, 2006) [Graph]

Homebuilders Index: Leading or Lagging Consumer Sentiment?
(March 16, 2006) [Graph]

S&P 500 ETF: Block Money Flow Paints a Negative Picture
(March 15, 2006) [Graph]

Down on the Farm: Inventories Point to Lower Food Prices?
(March 13, 2006) [Graph]

QQQQ Short Interest Ratio: Bears Have Thrown in the Towel?
(March 12, 2006) [Graph]

Seasonal Pattern of Spot Gold (1982 - 2006)
(March 8, 2006) [Graph]

Seasonal Pattern of U.S. Dollar (1987 - 2006)
(March 6, 2006) [Graph]

Real Global Short-Term Interest Rates in the Black: Liquidity Splurge Over?
(March 2, 2006) [Graph]

Gold: Inflation Hedge?
(March 1, 2006) [Graph]

China Net Commodity Steel Exports:
Lower Prices Ahead?
(March 1, 2006) [Graph]

Next Six Weeks: Seasonally Weak Period for Small Cap and Technology Stocks
(February 28, 2006) [Graph]

Japanese Yield Curve: Technicals Says "Flattening"?
(February 27, 2006) [Graph]

ETF Volumes Relative to Index Volumes for U.S. Benchmarks
(February 15, 2006) [Graph]

High Beta Shares Poised for a Further Correction?
(February 14, 2006) [Graph]

Earnings Reporting Season: Catalyst for a Short-Term Change in Market Direction?
(February 9, 2006) [Graph]

European Shares: Primarily a Play on Currency?
(February 8, 2006) [Graph]

Personal Income Falling Off a Cliff -- Can Spending Be Far Behind?
(February 2, 2006) [Graph]

Growth vs. Value: The Great Divide?
(February 1, 2006) [Graph]

Short-Term Impact of FOMC Rate Hikes on the Stock Market in the Current Tightening Cycle
(January 30, 2006) [Graph]

Initial/Continuing Jobless Claims vs. GDP: Signaling a Slowdown Ahead?
(January 25, 2006) [Graph]

S&P 500 Relative to MSCI World: Fallen Giant?
(January 24, 2006) [Graph]

S&P 500 Futures -- More of a Rollercoaster Ahead this Month?
(January 18, 2006) [Graph]

S&P 500 Index Day-of-the-Week Seasonality
(January 17, 2006) [Graph]

Hypothetical Inflation-Adjusted Value of a U.S. Dollar Since 1776
(January 16, 2006) [Graph]

Smart Money Flow Index vs. Dow: Deja Vu All Over Again?
(January 14, 2006) [Graph]

Large Cap Relative Performance - A Tale of Two Markets
(January 12, 2006) [Graph]

Consumer Credit and House Price Changes: a Link?
(January 10, 2006) [Graph]

U.S. Equities: Increasingly a "Traders' Market"?
(January 10, 2006) [Graph]

CRB vs. Gold: Pedal to the (Yellow) Metal?
(January 9, 2006) [Graph]

US Equities: Not as Bubbly as Other World Markets
(January 6, 2006) [Graph]

A World of Mostly Flattening Yield Curves
(December 30, 2005) [Graph]

S&P 500: Index vs. P/E Ratio
(December 29, 2005) [Graph]

U.S. Property Crime vs. Economic Growth
(December 21, 2005) [Graph]

Major Breakout in Metals Prices
(December 20, 2005) [Graph]

U.S. Cross-Border Equity Flows and Relative Market Performance
(December 15, 2005) [Graph]

Large Cap Relative to Mid Cap for Selected World Markets
(December 14, 2005) [Graph]

P/E Ratios and Dividend Yields for Selected World Markets
(December 7, 2005) [Graph]

Adjustable-Rate Mortgages -- Affordability vs. Applications
(December 6, 2005) [Graph]

As the New Year Approaches, Will We See a Shift?
(December 2, 2005) [Graph]

U.S. Residential Investment as a % of Total Investment
(December 1, 2005) [Graph]

Leading Indicator of Inflation?
(November 30, 2005) [Graph]

Soybeans vs. CRB - Divergence Soon to be Reconciled?
(November 29, 2005) [Graph]

Stock Market Sentiment Indicators Flashing a Warning Signal
(November 19, 2005) [Graph]

PPI Data -- Fun with Statistics?
(November 15, 2005) [Graph]

Yield Curve vs. Bank Small-Firm Credit Approval Standards
(November 14, 2005) [Graph]

U.S. Movie Ticket Sales vs. Gross Domestic Product
(November 7, 2005) [Graph]

Turn-of-the-Month Seasonality in the S&P 500
(November 4, 2005) [Graph]

NYSE Short Interest Ratio vs. S&P: Deja Vu All Over Again?
(October 26, 2005) [Graph]

Growth vs. Value -- a Technical Reversal of Fortunes?
(October 17, 2005) [Graph]

U.S. Vehicle Sales vs. the Relative Price of Gasoline
(October 14, 2005) [Graph]

S&P 500 Index vs. Selected Indicators: Short-Term Buying Opportunity?
(October 13, 2005) [Graph]

A Leading Indicator for the ISM Manufacturing Index?
(October 11, 2005) [Graph]

Higher Prices for Healthier Foods = Unhealthy Diets?
(October 10, 2005) [Graph]

Next-Week Returns Following Up/Down Weeks in the S&P 500
(October 7, 2005) [Graph]

A World of (Mostly) Flatter Yield Curves
(October 4, 2005) [Graph]

EU vs. US Rates: Time for the Europeans to Play Catch-Up?
(September 29, 2005) [Graph]

House Price vs. Related Expenditures: Not Keeping Pace?
(September 28, 2005) [Graph]

Corporate Profits and Labor Costs -- Shifting Relationship?
(September 28, 2005) [Graph]

Net Purchases of Mutual Fund Shares by Category
(September 22, 2005) [Graph]

Household Debt: The Transformation Continues
(September 21, 2005) [Graph]

Stock Prices and Consumer Sentiment:
Marching to the Same Beat?
(September 12, 2005) [Graph]

Performance of Selected Foreign Equity Indexes Relative to S&P 500 in Currency-Adjusted Terms
(August 26, 2005) [Graph]

Bearish "Broadening" (or "Megaphone") Top Continues to Unfold in S&P 500
(August 24, 2005) [Graph]

US Inflation: Core-Aggregate Differences Continue to Widen
(August 24, 2005) [Graph]

Wal-Mart Sales Trend vs. Changes in Gasoline Price
(August 22, 2005) [Graph]

Seasonality of NYMEX crude oil futures (1987 - 2005)
(August 22, 2005) [Graph]

Mega Cap Shares: Poised for Relative Rebound?
(August 19, 2005) [Graph]

Port of Los Angeles Cargo Container Counts: More U.S. Trade Woes?
(August 18, 2005) [Graph]

Core CPI-PPI Spread: Presaging Higher U.S. Bond Yields?
(August 17, 2005) [Graph]

Seasonality of Small Cap Relative to Large Cap Stocks
(August 16, 2005) [Graph]

Copper on Fire: More than Just the Fundamentals?
(August 15, 2005) [Graph]

Dollar-Traded Value of SPDRs Relative to S&P 500
(August 11, 2005) [Graph]

Inventory Trends: A Tale of Two Markets
(August 10, 2005) [Graph]

The Real Price of Oil?
(August 9, 2005) [Graph]

Best and Worst S&P 500 Economic Sectors by Month (1989 - 2005)
(August 8, 2005) [Graph]

U.S. New Home Sales: Signs of Negative Divergence?
(August 1, 2005) [Graph]

Stocks Relative to Bonds and Mutual Fund Cash Flows
(July 29, 2005) [Graph]

Seasonality of European Stocks Relative to US Stocks (1989 - 2005)
(July 28, 2005) [Graph]

AFL-CIO Split - Membership Declines a Catalyst?
(July 25, 2005) [Graph]

S&P 500 Index -- A Classic Broadening Top in the Making?
(July 25, 2005) [Graph]

U.S. Big Cap-Small Cap Ratio vs. VIX Index:
Evidence of Increased Risk-Taking?
(July 19, 2005) [Graph]

The "Greenspan Effect": Slightly Bullish?
(July 18, 2005) [Graph]

S&P 500 Winning and Losing Streaks (1970 - 2005)
(July 15, 2005) [Graph]

Consumer Sentiment and Initial Jobless Claims
(July 15, 2005) [Graph]

Economics of Smoking:
Rising Prices Equal Falling Demand?
(July 14, 2005) [Graph]

Minor Metals -- Major Rallies
(July 12, 2005) [Graph]

Seasonality of Stocks Relative to Bonds (1983 - 2004)
(July 11, 2005) [Graph]

Selected Goods and Services Indices Relative to Average Hourly Earnings
(July 11, 2005) [Graph]

Aluminum vs. Other Metals -- Indicator or Opportunity?
(July 8, 2005) [Graph]

End-of-Quarter "Performance Chasing" in the S&P 500 Index?
(June 15, 2005) [Graph]

U.S. Equities: Foreigners Ain't What They Used to Be
(June 15, 2005) [Graph]

Substitution Effect: You Are What You Eat?
(June 8, 2005) [Graph]

China and Steel Prices: Is the Bearish Writing on the Wall?
(June 8, 2005) [Graph]

Have We Hit the Limits to Growth in the Refi Market?
(June 6, 2005) [Graph]

The Difference Between Democrats and Republicans
(June 6, 2005) [Graph]

Performance of S&P 500 Before and After the "Last" Rate Hike in a Tightening Cycle
(June 3, 2005) [Graph]

Implications of Inverted Yield Curve for Equities
(June 3, 2005) [Graph]

Central Banking in the Modern Age...More Spin?
(June 2, 2005) [Graph]

Unintended Economic Consequences of Government Assistance?
(June 1, 2005) [Graph]

Leading Indicator for U.S. Unemployment?
(June 1, 2005) [Graph]

Large Traders Increasingly Placing Bets Via Futures
(May 30, 2005) [Graph]

Equity Index Futures -- a Continuing Shift in Favor of Electronic Trading
(May 29, 2005) [Graph]

Large Speculator Short Interest in NASDAQ 100 Futures: Bullish?
(May 26, 2005) [Graph]

ETF Volumes Relative to that of S&P 500 Index Up Sharply
(May 26, 2005) [Graph]

Nasdaq Composite Winning and Losing Streaks
(May 25, 2005) [Graph]

Are the U.S. and German Economies in Synch?
(May 25, 2005) [Graph]

Empire and Philadelphia Fed Surveys: Early Warnings Signs for GDP?
(May 19, 2005) [Graph]

New Leading Indicator for the Dollar?
(May 19, 2005) [Graph]

A Tale of Two Asset Classes: Equities vs. Real Estate
(May 19, 2005) [Graph]

U.S. and Japanese Markets Correlated (But Not in the Way You Think)
(May 18, 2005) [Graph]

Mutual Fund Cash Levels -- Odd Divergence Among Managers?
(May 18, 2005) [Graph]

Core CPI-PPI Spread: Time For Consumer Prices
to Play "Catch-up"?
(May 17, 2005) [Graph]

Seasonal Pattern of Nasdaq Composite Index Relative to S&P 500 Index
(May 13, 2005) [Graph]

Next Day Price Action Following Significant Market Up or Down Moves in the S&P 500 Index
(May 12, 2005) [Graph]

Gasoline and CPI Relative to Average Hourly Earnings -- a Divergence?
(May 11, 2005) [Graph]

Spike in the Speculative-Investment Grade Bond Spread Ratio: Change in the Risk Equation?
(May 10, 2005) [Graph]

ISM Manufacturing-to-Services Ratio: a Leading Indicator for Retail Sales?
(May 4, 2005) [Graph]

Equity Market Reaction to FOMC Interest Rate Hikes During the Most Recent Tightening Cycle
(May 2, 2005) [Graph]

Worldwide Hedge Fund Assets as a Percentage of Mutual Fund Net Assets
(April 27, 2005) [Graph]

Will $50 Oil Eventually Trigger Relative Outperformance in Oil Services Shares?
(April 26, 2005) [Graph]

China Syndrome? Industry Output vs. Commodity Prices (April 22, 2005) [Graph]

U.S. Equity Market Performance During Expiration Weeks (April 13, 2005) [Graph]

Realtors® as a Percentage of U.S. Population -- Bull Market? (April 11, 2005) [Graph]

Wholesalers Cutting Back: a Potential Negative for the Drug Sector? (April 6, 2005) [Graph]

Overly Negative Small Investors -- Short Term Rally Coming? (April 4, 2005) [Graph]

Players Continue to Boost Equity Derivative Exposure (March 7, 2005) [Graph]

Semiconductor Sector: Chip Stocks vs. Chip Prices (March 3, 2005) [Graph]

NASDAQ vs. Homebuilders Index: A Tale of Two Bubbles? (February 11, 2005) [Graph]

Drug Spending Projections: Is Somebody on Something? (January 16, 2005) [Graph]

US Auto Sales: Stingier Financing Equals Coming Slowdown? (January 10, 2005) [Graph]

Despite Being Oversold, Seasonals Point to Further Near-Term U.S. Dollar Weakness
(December 13, 2004) [Graph]

Contrarian Dream? Performance of the Best and Worst S&P 500 Sectors in the Subsequent Quarter
(December 8, 2004) [Graph]

The "Generals" vs. the "Troops": Performance of the Top 10 Index Members Relative to the S&P 500
(December 2, 2004) [Graph]

Are Import Prices a Leading Indicator for Producer Prices?
(November 11, 2004) [Graph]

U.S. Stocks vs. the Economy -- a Disconnect?
(October 24, 2004) [Graph]

U.S. Business Inventories vs. Gross Domestic Product (October 16, 2004) [Graph]

It's the War, Stupid?
(September 29, 2004) [Graph]

The Federal Reserve, the Yield Curve, and the Economy (September 23, 2004) [Graph]

Equity Derivatives -- Still in a Bull Market
(September 8, 2004) [Graph]

Divergence in Housing Data a Warning Sign?
(August 26, 2004) [Graph]

Trade Balance as a Percentage of GDP
(August 13, 2004) [Graph]

U.S. Yield Curve vs. Jobless Claims
(August 11, 2004) [Graph]

US 2004 Presidential Elections --
Campaign Receipts (July 23, 2004) [Graph]

Foreigners Net Purchases-Sales of US
Corporate Stocks (July 19, 2004) [Graph]

NYSE Program Trading as a Percentage of Volume
Hits 70.5%, a New Record (July 3, 2004) [Graph]

US Bank Sector -- Price vs. Price-Earnings Ratio
(June 21, 2004) [Graph]

Shipping Rates vs. Base Metals Prices
(June 08, 2004) [Graph]

Adjustable-Rate Mortgage (ARMs) Activity --
a Leading Indicator for Retail Sales?
(May 28, 2004) [Graph]

US vs. China Inflation -- Convergence?
(May 17, 2004) [Graph]

US Bank Sector Weightings vs.
Short Term Interest Rates (May 16, 2004) [Graph]

S&P 500 Quarterly Earnings Surprise
Differences (May 6, 2004) [Graph]


Insights on Investing

"Emerging Markets Set to Underperform Other Foreign Shares (EEM, EFA),"
Seeking Alpha, May 23, 2006.
[Link] [PDF]

"Is Bearish Stock Market Sentiment Cyclical? (GOOG),"
Seeking Alpha, May 11, 2006.
[Link] [PDF]

"How U.S. Equity Sectors Have Compared to Foreign Peers,"
Seeking Alpha, May 10, 2006.
[Link] [PDF]

"Bonds vs. Stocks: Short-term Reversal Of Fortunes Due? (SPY, TLT),"
Seeking Alpha, May 8, 2006.
[Link] [PDF]

"Impact of Inflation Upticks on Share Prices,"
Seeking Alpha, May 8, 2006.
[Link] [PDF]

"Is Europe a Better Weak Dollar Play than Asia? (ETFs: EWK, EWI, EWO, EWU),"
Seeking Alpha, May 1, 2006.
[Link] [PDF]

"A Pairs Trade With Two Bank ETFs (KBE, RKH),"
Seeking Alpha, April 26, 2006.
[Link] [PDF]

"Oil: Buy the Commodity, Sell the Shares? (IXC, IYE, OIH, VDE, USO),"
Seeking Alpha, April 25, 2006.
[Link] [PDF]


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The New Laws of the Stock Market Jungle: An Insider's Guide to Successful Investing in a Changing World, By Michael J. Panzner
"Panzner's book reveals many of the tools and tricks we professionals use every day to make money. If you wonder why the `little guys' are always at a disadvantage, and why many commentators and academics can't seem to explain these markets, it is because they are unaware of these factors. Honestly,
I wish he had not
said a thing."


Robert Jafek
Principal, Torrey Pines Capital Management
and former partner,
Nicholas-Applegate
Capital Management

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