Today was a pleasant Friday for markets around the world. Japan’s Nikkei rose 1.08%, the Shanghai Composite 1.60%, the FTSE 0.62%, and the DAX 0.39%. Our benchmark S&P 500 opened higher despite (or because of) another decline in Industrial Production. It bounced off yesterday’s close a couple of times through the day before hitting its -0.17%…
Following a huge string of terrible manufacturing reports from nearly every Fed region, I received this headline report from the New York Fed: Regional Service Sector Resilient even as Manufacturing Slumps. The October 2015 Business Leaders Survey of regional service firms, released today, paints a considerably more benign picture of local business conditions than the more troubling October…
Two Rivers Water & Farming (TURV) and their subsidiary (GrowCo) are in the final stages of completing their first high-tech, industrial-scale greenhouse for growing marijuana in Colorado. Using agricultural know-how and experience with logistics, they build modern, high-efficiency greenhouses that help cannabis farmers double their output at half the cost versus conventional warehouse growing operations. Their first facility has a 91,000 sq ft greenhouse and…
Stocks had their October option expiration today. The antics were abundant as stocks came in lower, but drifted higher during the day, and were jammed higher into the close for a gain. The obsessive compulsive Street has decided that all is quiet on the Western front, and VIX has dropped back down to the ‘new…
David Trainer appeared on CNBC’s Closing Bell Thursday afternoon to talk about the issues facing Netflix in light of its disappointing 3Q15 earnings and quantify just how overvalued shares have become. Video Length: 00:04:05
Crude formed a triangle. Here is the chart.
Companies like Walmart and McDonalds’s have made their investors rich by squeezing costs and holding down prices. But it turns out that low costs means low wages, and as this model spread it contributed to the now-impossible-to-ignore migration of income and wealth from workers to owners of the capital and symbol manipulation skills that such…
The Dow held the 15500 number on the Weekly level and then held 16280 level. Our models warn that only a slingshot becomes possible taking out the August low. On the upside, we still have the major resistance at 17760 and it will take a weekly closing above that level to suggest a breakout back…
On August first I warned that the meme of poor breadth would likely cause a “substantial disruption in the markets“. This week a new meme is emerging that the all time highs in the CBOE SKEW Index indicates everyone is afraid of a black swan event and thus the market is due to crash. There…
The US Oil rig count is now down over 63% from its highs in October 2014. Last week’s 10 rig decline is the 7th straight weekly drop, pushing the count below 600 for the first time since July 2010. Crude prices are modestly higher on the news… *U.S. TOTAL RIG COUNT FALLS 8 TO 787 , BAKER…
