Amid Rout In Stocks And Some Signs Of Stability, SPY Short Put

It is a top.  But is this the top? All of a sudden, it is not a crazy question to ask.  The ferocity by which U.S. equities have dropped in recent sessions, one has to wonder if this marks a … Continued

CoT: Peek Into Future Through Futures – How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of January 23, 2018. 10-year note: Currently net short 117.9k, up 28.6k. Tuesday, a two-day FOMC meeting begins.  This is the year’s first, and will be Janet Yellen’s, the outgoing chair, last.  (The … Continued

Amidst Signs Of Excesses, Momentum Intact – Watching Shorter-Term Averages For Clues N/T

A P/E of 17x on the S&P 500 large cap index cannot be called euphoric.  A little above average, sure, but not euphoric.  On forward operating earnings using next year’s estimates, that is what the index is currently trading at. … Continued

CoT: Peek Into Future Through Futures – How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of Oct 24, 2017. 10-year note: Currently net long 153.6k, up 47.3k. FOMC meets next week.  The October 31-November 1 meeting is the seventh this year, with the eighth, and final, scheduled for … Continued

CoT: Peek Into Future Through Futures – How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of Sep 19, 2017. 10-year note: Currently net long 270.1k, up 18.4k. Americans’ love for leverage needs no elaboration.  The debt culture began in earnest in the early ’80s.  Leverage remains high – … Continued

CoT: Peek Into Future Through Futures – How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of Sep 5, 2017. 10-year note: Currently net long 221.8k, down 61.9k. Last week, 2Q17 real GDP growth was revised higher to three percent – much better than the post-Great Recession average of … Continued

S&P 500 Refuses To Buckle Under, But Sentiment Complacent Near Term

posted in: Derivatives, Equities, Technicals | 0

U.S. equity bulls regained momentum last week, but this also put near-term sentiment at/near complacency. Since rising to an all-time high of 2490.87 on August 8, the S&P 500 large cap index was bound by a falling trend line (Chart … Continued

CoT: Peek Into Future Through Futures – How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of Aug 29, 2017. 10-year note: Currently net long 283.7k, up 22.5k. Hurricane Harvey may have given the Fed an excuse not to hike come December.  At least that is how markets are … Continued

Ray Of Hope – At Least Near Term – For Bruised Volatility Bulls

posted in: Derivatives, Equities, Technicals | 0

The lack of volatility in volatility is once again giving rise to the phrase ‘it is different this time”.  If past is any guide, it seldom is. Spot VIX just created a record. VIX goes back to January 1990.  In … Continued

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