Following futures positions of non-commercials are as of April 28, 2020. 10-year note: Currently net short 49.4k, up 15.3k. In the week ended February 11th, non-commercials held 398,919 net shorts in 10-year note futures. On the 12th that month, the … Continued
The top five stocks report this week. They have rallied massively since March lows. Investor reaction to their earnings will determine if major cap-weighted indices continue their five-week upward momentum or hit the wall. This week, the big five report. … Continued
Following futures positions of non-commercials are as of April 21, 2020. 10-year note: Currently net short 34.1k, down 36.7k. The FOMC meets next week. A two-day meeting begins Tuesday. This comes after March’s hectic schedule which included two unscheduled meetings. … Continued
Stocks have rallied massively since March lows, but bulls are essentially hiding in large-caps, and in just a few names within large-caps. If past is prelude, such over-reliance is not lasting. With 47 companies reporting as of last Thursday, 1Q20 … Continued
Following futures positions of non-commercials are as of April 14, 2020. 10-year note: Currently net short 70.8k, up 9.8k. The Fed is on a mission to provide a backstop to a whole host of assets. Here is its report card … Continued
Unless a coronavirus vaccine is miraculously developed at record time, a V-shaped recovery in the economy is not probable. Yet, stocks seem to be anticipating one. The Fed is flooding the system with liquidity. Stocks have rallied massively off of … Continued
Following futures positions of non-commercials are as of April 7, 2020. 10-year note: Currently net short 61k, up 8k. The Fed continues to spread its policy tentacles. During the financial crisis of 2007-2008, it began to aggressively purchase Treasury securities … Continued
Following futures positions of non-commercials are as of March 31, 2020. 10-year note: Currently net short 53k, down 159k. In the week to Wednesday, SOMA (System Open Market Account) holdings went up another $432.2 billion to $4.77 trillion – a … Continued
Following futures positions of non-commercials are as of March 24, 2020. 10-year note: Currently net short 212k, down 39.1k. Monday, the Fed went all in – essentially. It now has an open-ended QE program in place. There is no set … Continued
Investors Intelligence bulls fell further this week, with bears jumping to an eight-plus-year high. The options market, too, shows fear has set in. Odds of a bear market rally have grown. Investors Intelligence bulls further fell this week, down 4.5 … Continued