The writing has been on the wall for a few days/weeks, but it appears a combination of global FX and equity turmoil and domestic corporate debt market collapse is finally starting to roil US equity markets.The Dow is down over 600 points in the last week or so, bond yields are collapsing, the USDollar is…
While Few are Watching … Over the years we have made many notes of small things we observe in various market sectors, as they often come in useful when pondering trading decisions. In the bear market of the highly cyclical gold sector in recent years, one of the things that seems to be happening with…
More housing units are being occupied, and that dictates a strengthening market in 2016. Higher mortgage rates will eventually take their toll, but we’re 18 to 24 months away from that. In 2016 and 2017, housing construction will increase and home prices will rise. The number of housing units actually occupied has increased by two million…
US retail sales rose 0.2% in November, the Census Bureau reports. The increase is a touch higher than the previous month’s 0.1% gain. But the uptick in the monthly data masks the ongoing deceleration in the year-over-year trend. Spending eased to a weak 1.4% annual pace, a seven-month low that’s close to the softest gain since the…
Russell 2000 is poking below support this morning.That would be okay as a potential in-day whipsaw but other indexes were showing negative signs 2 days ago (subscribers ref. last market update).A weekly close of all this stuff below their respective parameters (like RUT support line) would be very not good.
Today’s release of the November Producer Price Index (PPI) for Final Demand came in at 0.3% month-over-month seasonally adjusted, up from -0.4% in October. It is down -1.2% year-over-year, the eleventh consecutive month of YoY shrinkage. Core Final Demand (less food and energy) came in at 0.3% MoM, up from -0.3% the previous month and…
Investors, fellow central bankers, and the media continue to try to make sense of last week’s ECB surprise. We had argued that given the market positioning, especially the dramatic accumulation of speculative short euro positions since the middle of October, that the market was prone to a correction. The issue was really one of timing. Was…
Yahoo! (NASDAQ:YHOO) is disappointing its shareholders. Recently, the company decided not to spinoff its Alibaba (NYSE:BABA) stake. Some key investors promise a proxy fight if CEO Marissa Mayer does not make more successful decisions. Instead, Yahoo! has reviewed a spinoff of its core Internet business. This will leave two companies: the first (core) will include Yahoo!’s traditional…
Well, don’t say we didn’t warn you… Last week, we gave you hedging plays in Futures that are up over $10,000 in just over a week and we gave you an options hedge on the S&P Ultra-Short (SDS) that will be up about 200% this morning and, in order to get past the censors at…
