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Five Things You Need to Know: Banana Republic


Change comes hard to America.


Kevin Depew's Five Things You Need to Know to stay ahead of the pack on Wall Street:

1. Change Comes Hard

This morning I was rudely greeted by two bizarre news headlines; bizarre because they were written about roughly the same thing, yet presented two diametrically opposed thoughts.

The first was from the New York Times: Geithner Sets Limits on Bank Lobbying

The second was from the Wall Street Journal: Geithner's New Chief of Staff is Former Bank Lobbyist

What in the hell? Seriously? That used to be something you would only read in a local broadsheet while waiting on a sweaty tarmac to flee a collapsing South American dictatorship.

Yes, change comes hard in all senses of the word.

2. Deal of the Weak

As if to underscore the reality of a the ongoing structural shift in consumption taking place, the Wall Street Journal "Deal of the Week" in commercial real estate this week is the sale of one of Cincinnati's largest malls by Simon Property Group (SPG) for $20 per square foot.

According to the Journal, the average price nationally for malls is around $134 per square foot.

"To be sure, the property is in sad shape," The newspaper noted. "Some 40% of its non-anchor retail space is empty."

Expect more "Deals of the Weak" to follow in the months ahead.

3. Two Views of Gold

Gold is always an emotional battleground. But take a look at the two weekly price charts below... without emotion I mean.

The first one shows a qualified downside break for gold (according to DeMark price exhaustion). The rally since the qualified break has been muted, and gold is clearly struggling on the upside. Looking at the dashed green upside TD Setup Trend line, gold could easily make a run back toward that line, but this is a very weak price pattern by any standard, and certainly by the standards of DeMark price exhaustion techniques applied.

Click to enlarge

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No positions in stocks mentioned.

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