Volatility has been the key theme on Wall Street over the past couple of months. Although earnings optimism has once again encouraged investors to take on risk, strained U.S.-China trade ties and escalating tensions in Syria are acting as dampeners. Notably, the United States and its Western allies are jointly mulling over a possible military…
TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence. Canadian cannabis stocks rallied off their lows yesterday and we are favorable on this reversal. Shortly after the market opened, Horizons Marijuana Life Sciences ETF (HMMJ.TO) was down more than 5% and the…
According to the BLS, the Consumer Price Index (CPI-U) year-over-year inflation rate was 2.4 % – up 0.2 % from last month. The year-over-year core inflation (excludes energy and food) rate was 2.1 %, and is now slightly above the target set by the Federal Reserve. Analyst Opinion of the Consumer Price Index Even though the prices…
AUD/NZD made a choppy and three-legged decline down from former swing high of wave X, which was located at 1.1060 level. This three-wave drop can be part of wave Y, which can see limited downside and a reversal around the 1.0470 zone, where a completed Elliott wave ending diagonal can cause a sharp turn. A…
According to the US Department of Labor, March saw a dramatic cut-back in the number of jobs created over the previous months. The March figure came in at 103000 new positions which is well below the average of 202000 for the previous three months. Indeed, it is roughly a third of the 326000 vacancies created…
Correction Has Gotten To Extreme Levels Review of the ‘risk off’ trade in the past few days has been interesting because it has gotten remarkably extreme in some ways for such a normal correction. I remain in the camp that believes the fundamentals are sound. Growth is slowing, but that only justifies a correction opposed…
As it turns out, those “transitory” inflation factors were worth only about 25 bps on the core CPI rate. This isn’t at all surprising and was as usual entirely predictable. But when you don’t have any answers there is a lamentable tendency toward denial or deliberate evasion, even if that leads toward the ridiculous. Base…
Nothing fails like success, we are often old half seriously. Yet we argue that the most formidable challenge for market economies is not this is or that weakness or defect that can be reformed away. Rather, like some individuals we may know, the biggest weakness of capitalism arises from its greatest strength. Capitalism has unleashed our…
Top tickers for midday: BAC, FB, ABX, AKS, APC, VRX, CELG.
While the S&P 500 as a whole is down nearly 8% from its recent 52-week high in late January, as you might expect, the average decline of individual stocks in the index is quite a bit larger. The first chart below shows the average distance between the current price of stocks in the S&P 1500…
