Stocks of major U.S. banks and brokers are behaving in a way that shorts are probably not very happy with. Should they treat this as a signal or noise? The top six have reported September-quarter results, and it is a … Continued
U.S. corporations have had their share of blame as relates to capital expenditures, wages, etc., but have done a commendable job when it comes to taking advantage of the prevailing low interest-rate environment. Corporate profits have come a long way. … Continued
Around the August lows in U.S. equities, several sentiment indicators looked washed out. For instance, the bulls’ count in Investors Intelligence’s survey dropped to 24.7 percent in the September 29th week – the lowest since late December 2008 (although bears … Continued
The following are futures positions of non-commercials as of October 13, 2015. Change is week-over-week. 10-year note: Central bankers were probably busy scratching their heads this week. Despite trillions in quantitative easing and their valiant effort to push inflation above … Continued
A battle is being fought between optimists and pessimists in the land of gold. Of late, the former is winning hands down. Near-term, the latter might at least get some reprieve. In the latest period (September 30), short interest on … Continued
Through Wednesday, three major U.S. banks have reported third-quarter results, and if there is one common theme, it is the top line. There is no growth. JPMorgan Chase (JPM) reported revenues of $23.5 billion, versus $25.1 billion last year. For … Continued
One look at Chart 1, and U.S. equity bulls may have a reason to salivate. Or not. It can be a reason to worry as well. NYSE Group short interest is through the roof. Literally. By the end of September, … Continued
Semis have come a long way. Through last Thursday, SMH, the Market Vectors Semiconductor ETF, rallied 21 percent since the August 24th low and nearly 11 percent since the September 29th low. The latest rally in particular came in a … Continued
The following are futures positions of non-commercials as of October 6, 2015. Change is week-over-week. 10-year note: Since the September 16-17 FOMC meeting, barring comments from hawks like John Williams, president of the San Francisco Fed, and Dennis Lockhart, president … Continued
As we approach next year’s presidential elections, the debate surrounding the U.S. corporate tax rate is destined to get louder. One side argues corporations are already taxed at very high rates. The other side says they far from pay their … Continued