The 3Q18 earnings season begins in earnest next week. Small-caps have sold off big into this (more on this here), but not large-caps. The Dow Industrials Wednesday rose to a fresh high, although the session produced a candle with a … Continued
XLF shorts who are slightly underwater can use options to repair the damage. Hypothetically last Thursday, XLF ($28.06) was shorted intraday at $27.96 ($27.84 adjusted for dividends). Here was the thought process. The ETF remains overbought on nearly all timeframe. … Continued
Post-Trump victory, the Treasury yield curve has moved up as well as steepened, with the 10-year yield rising 47 basis points to 2.34 percent. Yields have risen one full point since the July 6th all-time low of 1.34 percent. Inflation … Continued
Much ado about nothing! Pretty much. There was much talk of short squeeze primarily contributing to the rally in stocks in the June 30-July 15 period, but, as it turns out, at least on an index level, that was not … Continued
Table 1 was posted in last Tuesday’s blog. It is apropos to be discussing it again. The table tallies instances of rallies of five percent or above on the S&P 500 over four sessions. Going back six years, there have … 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
GE stages massive breakout Friday on back of massive buyback announcement S&P 500 companies splurged $565 billion on share repurchases in 2014 As/when buybacks dry up, support zones become more vulnerable Before last week, GE shares had been on a … Continued