While we have focused on the decoupling between US equity markets and their high-yield credit and US Treasury yield peers, today is perhaps most notably for the widening seen in investment-grade credit markets – the most in 2 months – as oil-complex concerns squeeze liquidity across all credits. Notably HYG is under significant pressure also (not helped…
Stocks were slumping today from the open, with (AAPL) having taken a dive, and a few of the major indices with it. There was no particular reason for this fundamentally. My own theory was that the funds were painting the tape with some seriously heavy handed brushstrokes into the end of the month in quiet…
(Photo Credit: Zona Retiro) Wednesday – Abercrombie & Fitch Revenue has slid at Abercrombie & Fitch (ANF) in 6 consecutive quarters and management is taking drastic action to get the brand back in gear. In August Abercrombie announced that it will be removing its logo from most clothing starting in Spring 2015. The emblazoned Abercrombie and…
Black Friday was ugly. Early estimates show Black Friday sales down 11% over last year’s numbers. That’s a bad sign, though it remains to be seen whether this is a true case of retail weakness or merely a sign that “Black Friday” no longer holds the mystique it once did in the era of online…
“While oil prices have surged this year on the back of geopolitical concerns, the performance of energy stocks has far outpaced the underlying commodity. The deviation between energy and the price of oil is at very dangerous levels. Valuations in this sector are also grossly extended from long term norms. If oil prices break below…
In order to succeed when trading and trend following one truly needs to believe that anything can happen. Do not fall in love with your favorite stocks. Do not let them make a round trip. Use trailing stops and lock in profits while you can. Watch this example with BABA.
On the weekend of November 16th, the G20 leaders whisked into Brisbane, posed for their photo ops, approved some proposals, made a show of roundly disapproving of Russian President Vladimir Putin, and whisked out again. It was all so fast, they may not have known what they were endorsing when they rubber-stamped the Financial Stability…
Tobacco fields. Source: Wikimedia Dear Diary, Friday was only a half-day on Wall Street. US stocks were flat. But gold traders were active – selling gold! The yellow metal lost nearly 1.8% of its value on Friday. And the big precious-metals miner stocks ETF, GDX, plummeted 8.7%. Meanwhile, Thanksgiving was a success in the Bonner household….
Earlier today, just after the market open, the one company that everyone had once again piled into, and which as of September 30 was the most popular company in the hedge fund community with at least 175 “smart money” institutional fans… Click on picture to enlarge … based on expectations that with every other stock and asset becoming increasingly…
ISM Provides A Reference Point In 2007 and 2008, the average reading of the Institute for Supply Management’s (ISM) manufacturing purchasing managers index (PMI) was 48.4; the median reading was 49.9. A PMI reading above 50 indicates that the manufacturing economy is generally expanding; below 50 it is generally contracting. How does ISM’s PMI look…
