Of late, equity bulls have pulled in their horns. Just a tad. Will they be rewarded for their steadfast bullishness in the near-term? Investors Intelligence’s survey of bulls this week registered at 44.8 percent. This was the sixth sub-50 reading … Continued
It has been a while the transports sector has acted like a sick puppy. Yesterday’s action is a welcome change. IYT, the Dow Jones Transportation Average ETF, peaked November 28th last year at $166.55 – much earlier than other major … Continued
The following are futures positions of non-commercials as of June 30, 2015. Change is week-over-week. 10-year note: Non-commercials continue to reduce net shorts – currently lowest since September 23rd last year. They have reduced net shorts by 98 percent in … Continued
The other day, Goldman Sachs took a sharp knife to its earnings estimates for S&P 500 companies. It cut 2015 estimates from previous $122 to $114. In 2014, these companies earned $113 in operating earnings. If Goldman is right, we … Continued
If there has been one common thread shared by major U.S. indices before the rout this Monday, it is this: the sell-off preceded a trendline break. Back in the middle of October last year, as the S&P 500 Index was … Continued
Mon’s 35-percent rally in VIX rare – largest since 43-percent surge mid-Apr 2013 After weeks of suppression, VIX:VXV spikes into overbought zone – worth watching Not much change in Jul call open interest on Mon vs Fri; ATM put IV … Continued
The SPDR Consumer Discretionary ETF (XLY) is primed for another short put options strategy. Last week, the ETF went on to rally 0.6 percent. Thus, the premium earned selling weekly June 26th 77 puts was kept. Could this work again … Continued
Last week, IWM, the iShares Russell 2000 ETF, dropped 0.3 percent, to $127.50, but not before scoring another intra-day high of $129.10. There is both good and bad in how the ETF traded during the week. First, it sold off … Continued
The following are futures positions of non-commercials as of June 23, 2015. Change is week-over-week. 10-year note: Yields pushed up nearly 21 basis points for the week. Sales of both new and existing homes did well in May (even though … Continued
The following are futures positions of non-commercials as of June 16, 2015. Change is week-over-week. 10-year note: Let us see if we can make some sense out of this week’s major developments. The FOMC met, and it looked like members … Continued