Later this morning, August’s NFIB (National Federation of Independent Business) optimism index is published. July was 95.4, up 1.3 points month-over-month. The index has been under pressure since the recovery high of 100.4 reached last December. The last time it … Continued
The following are futures positions of non-commercials as of September 1, 2015. Change is week-over-week. 10-year note: The IMF is at it again. This week, it reiterated its stance that advanced economies should maintain accommodative monetary policies. By that it … Continued
2134.72. That is the all-time record the S&P 500 Index (1948.86) notched on May 20. It is possible in the annals of stock market history this high will be viewed with the same level of trepidation/respect as 1553.11 (March 2000 … Continued
While the debate continues as to whether or not the Fed will hike in its upcoming meeting in two weeks, gold is giving off vibes as if it expects one. Yesterday was a risk-off session as far as equities were … Continued
Since last Wednesday, there has been a sudden pickup in QE talk. That was when Bill Dudley, president of the New York Fed, said that “the decision to begin the normalization process at the September FOMC meeting seems less compelling … Continued
It is damage control time for small-cap investors. When on August 14 August 21st weekly 119 puts were hypothetically sold for $0.92, IWM, the iShares Russell 2000 Index, was trading at $119.62. If the short put got assigned, it was … Continued
The following are futures positions of non-commercials as of August 25, 2015. Change is week-over-week. (Please keep in mind that these holdings are as of Tuesday. By then, from high to low the S&P 500 was down 12.5 percent. In … Continued
Two different central bankers from two different continents made news yesterday – both giving us a nod and a wink that at best low rates are here to stay and at worst more stimulus may be coming our way. Peter … Continued
There is a lot going on in the land of volatility. Readings are extreme. On Monday, VIX, the S&P 500 Volatility Index, surged to the highest since January 2009 (Chart 1), and RVX, the Russell 2000 Volatility Index, to the … Continued
Velocity of declines in equities breakneck and unsettling Worse scenario is if oversold bounce/rally gets sold hard near resistance If consumer/CEO confidence is impaired, Fed’s tool box empty to tackle weaker economy Another interesting session in the markets! Stocks picked … Continued