Bears point to action in transports to drive point home Bulls cite how financials are acting to prove why bears are wrong VIX remains pinned by 15, bullish (financials); VIX past 15, bearish (transports) Much ink has been spilled over … Continued
The following are futures positions of non-commercials as of June 2, 2015. Change is week-over-week. 10-year note: Yields have decisively broken out of a five-month downtrend channel. The only question is what triggered this. To quote the Beige Book: “The … Continued
The saga continues. VIX (13.66) continues to get sold off around 15. Since April, intra-day the so-called fear index has traded above 15 nine times, and only once has it been able to close out above (Chart 1). That was … Continued
The Consumer Discretionary SPDR ETF (XLY) made an all-time high of 77.89 toward the end of April, and has more or less traded sideways in the past three months – closing Monday at 76.52. This ETF is an important one … Continued
The PowerShares QQQ (110.05), the ETF that tracks the Nasdaq 100, seems to want to go lower, at least near-term. When the Qs broke out of 104-plus in February, it quickly added nearly four percent, rallying seven-plus percent for the … Continued
The following are futures positions of non-commercials as of May 26, 2015. Change is week-over-week. 10-year note: If we just focus on what the consensus was expecting, U.S. economic data this week were split down the middle, with maybe a … Continued
IWM breaks out of 11-month range early Feb, but momentum slipping; loses Oct 14 trendline Short interest building from low level; large specs adding to net shorts in recent weeks Credit call spread to take advantage of probable sideways/down move … Continued
Twitter (TWTR) closed at $36.60 on Friday. Sellers of May 22nd 37 cash-secured puts are now long the stock, which was discussed on the May 19th post (here). The $0.39 premium earned makes it an effective long at $36.61. What … Continued
The following are futures positions of non-commercials as of May 19, 2015. Change is week-over-week. 10-year note: The April FOMC minutes for all intents and purposes put a nail in the coffin of June rate-hike odds. At the March meeting, … Continued
It is an understatement to say that trading in Treasury bonds was volatile last week – just check out the action on various yields. From intra-day low to high, the 10-year yield swung 20 basis points, but closed out the … Continued