“When the facts change, I change my mind. What do you do, sir?” The above remark is often attributed to John Maynard Keynes, the British economist, although some dispute it. Regardless who said it, it is a nice quote. More … Continued
In the latest reporting period, SPY, the SPDR S&P 500 ETF, shorts stayed put. In fact, at 280.4 million, short interest fell a tad period-over-period – now at a two-month low (Chart 1). Odds favor shorts are about to get … Continued
U.S. small-caps are rallying. Rallying hard. Harder than several of their peers. Since the intra-day low on February 11th, the Russell 2000 small cap index is up just north of 14 percent, also breaking out of 1035. This level approximates … Continued
Kudos to equity bulls for what they have achieved so far in the current run. And what a run it has been! Off the February 11th intra-day low, the S&P 500 large cap index is up nearly 10 percent, the … Continued
In the prior reporting period (Jan 15-29), short interest on XLE, the SPDR Energy ETF, collapsed just north of 17 percent to 40.7 million (Chart 1). During the period, the ETF dropped 8.1 percent through the January 20th intra-day low, … Continued
SPY, the SPDR S&P 500 ETF, has essentially gone sideways since January 20th. That was the first low of the year after a 12-session, 11-percent waterfall drop. A subsequent eight-session rally had the ETF rally to $194.58, before it again … Continued
The stock market got off on the wrong foot this year… which is probably an understatement. Using the January 20th intra-day low, the S&P 500 large cap index lost nine percent in 12 sessions, the S&P 400 mid-cap index 13.1 … Continued
To say that energy stocks are back in favor will be an exaggeration, but they have perked up of late. Off the January 20th intra-day low, XLE, the SPDR Energy ETF, has rallied north of 16 percent. That is in … Continued
The following are futures positions of non-commercials as of January 26, 2016. Change is week-over-week. 10-year note: Two important developments took place this week in central banking. First, the Fed. This week’s FOMC meeting was a non-event. No interest-rate decision … Continued
In the latest reporting period, U.S. equity shorts made it big. But rather than covering, they added more. It remains to be seen if they will continue to win out or are setting themselves up for a mini squeeze. During … Continued