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Pop Goes The Alpha ( Natural Resources)

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If you want a cogent metaphor for the central bank enabled crack-up boom now underway on a global basis, look no further than today’s scheduled chapter 11 filling of met coal supplier Alpha Natural Resources (ANRZ). After becoming a public company in 2005, its market cap soared from practically nothing to $11 billion exactly four years ago. Now it’s back at the…

In July, Investors Were Guests at the Market’s “Red Wedding”

The simultaneous blood baths in commodities and U.S. stocks continued in July but failed to penetrate the skulls of U.S. stock investors who continue to allow themselves to be brainwashed into believing that they can only make money by owning an overbought market.

The S&P 500 (INDEXSP:.INX) recovered all of its June losses, gaining 2.1% in July including 1.2% last week to close the month at 2103.92, not far off its record closing high of 2,134.72. The index is now up 2.2% (excluding dividends) for the year.

The Dow Jones Industrial Average (INDEXDJX:.DJI) is showing greater recognition of the troubled state of the world. And after last week’s 0.7% gain to 17,689.86, it is down -0.7% year-to-date.

The Nasdaq Composite Index (INDEXNASDAQ:.IXIC), powered by stocks such as Amazon.com Inc. (NASDAQ: AMZN), Facebook Inc. (NASDAQ:FB), Netflix, Inc. (NASDAQ:NFLX) and other biotech and social media names, is outpacing the other indices with a year-to-date gain of +7.6% after adding 0.8% last week to close at 5128.28.

At this point, investors can no longer ignore the fact that the knives are coming out…

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