During the past month of surging market volatility and spectacular, confidence-sapping rollercoaster moves in the S&P, the one backstop bullish market commentators have used time and again is that Q1 earnings season will be spectacular, an offset to all other bad news. And, indeed, thanks to the passage of Trump’s corporate tax cuts in late…
Since the BTFD crowd and “it’s still a bull market” imbeciles were after me today, I thought this would be appropriate………….. As we move deeper into the year 2018, and as the market slips lower, I am increasingly confident that the gargantuan bull market that started on March 6 2009 ended on January 26 2018. We…
AveXis (AVXS) soared over 81% on Novartis (NVS) offer to buy the Company for $8.7B in cash and sparked another rally in gene therapy stocks . AveXis’ lead product AVXS-101 is expected to enhance Novartis’ position as a gene therapy and neuroscience leader. The FDA has granted AVXS-101 an Orphan Drug Designation and Breakthrough Therapy…
Stocks go on a wild ride today that made for some great intraday trading. In this video newsletter update we look at some of the intraday trading we did and how we take advantage of trading opportunities each day in our trading room. Watch this video right now to find out the key levels for…
“Fragility is the quality of things that are vulnerable to volatility.”- Nassim Taleb Lately we have been seeing one day of a mad rally higher, followed the next day by a stunning reversal lower. Today, they decided to break the mold and do both up and down moves of surprising breadth in the same day,…
Big companies such as Exxon Mobile (XOM) are hitting new one-year lows, even though the price of Texas tea has risen by an impressive 50% since the summer. Also taken out to the woodshed for a spanking have been steel and coal. It is fascinating to note that the shares of the supposed beneficiaries of…
Congress has released Facebook CEO Mark Zuckerberg’s prepared testimony ahead of Wednesday’s hearing. Zuckerberg will say: “We face a number of important issues around privacy, safety, and democracy, and you will rightfully have some hard questions for me to answer. Before I talk about the steps we’re taking to address them, I want to talk…
In a report that explains the recent market volatility as having nothing to do with Trump-induced nausea and everything to do with the Fed, BofA’s Michael Hartnett moves away from listing the latest tactical and cyclical market drivers which we covered earlier, and lays out what the Chief Investment Strategist thinks are the three big secular…
The ultimate dream of the cryptocurrency enthusiasts is for money to become decentralized and essentially removed from the hands of banks and Central Banks who can “manipulate” it for their own benefit. This is a nice thought, but most of it is based on misunderstandings about what “money” is. Let me explain. I was browsing Twitter…
The Technical Confluences Indicator, shows that the EUR/USD is approaching a resistance area where many critical technical levels converge. The $1.2325 level is where the SMA100-4h, the SMA200-4h, the Bolinger Band 1 day Middle (Stdv 2.2), BB 1h-upper, Pivot Point one-day Resistance 1, the SMA5-15m, and the BB 15m Upper all meet. A break higher will open…
