Chris Temple joins me to focus on the rebound in the USD. Looking like a potential short term triple bottom it is not out of the question to see the dollar continue to move higher. This goes in the face of the long Euro, short USD trade that has been in play since early last…
In my opinion, there is a good chance that precious metals will finally break above the latest cyclical tops established in July / August 2016. However, to do it, gold has to be stronger than the US dollar using an absolute measure. Or, in other words, applying the concept of the goldollar index: source: Simple…
Upcoming risk events: USD: Personal Spending m/m, Unemployment Claims. EUR: German Prelim CPI m/m. GBP: Current Account. JPY: N/A. Gold 30 min 4 Hours Daily My Bias: Long to a new all-time high above 1827. Wave Structure: Impulse structure to a new high. Long-term wave count: wave (3) above 1666. Gold accelerated lower in a possible wave ‘iii’…
Per Goldman Sachs analysis, the recent selloff in the global market has lowered emerging market valuations and added to the appeal of such investments. Moreover, performance and fund flows have been attractive for investments in emerging markets. Per etf.com data, iShares Core MSCI Emerging Markets ETF (IEMG – Free Report) witnessed $211.2 million in inflows in the week ended…
Tuesday Tech Crash Stocks looked like they were going to continue their uptrend on Tuesday after the sharp rally on Monday. The market was up in the morning, but then crashed in the afternoon. The S&P 500 was down 1.73% and the VIX was up 6.99% to 22.50. The biggest weakness was in tech as the Nasdaq was…
Public opinion about the government is pretty darn bad. The president’s approval rating is at 39%. Congress has an even lower approval rating of just 15%. I think the stomach flu has a higher approval rating than Congress does these days. And after years of listening to Republicans complain about the Democrats’ spendthrift ways and…
Price action (choppiness) suggests maybe the dollar bottom may be delayed. We say that as we expect a major bottom in the buck soon; then a counter trend really of multi-month variety to wrong-foot the dollar bears. A triangle pattern as shown below, would keep the market guessing before a final thrust lower in the…
Last week our investment team shared with you a report from Morgan Stanley that says bitcoin’s price decline since December mimics the Nasdaq tech bubble in the late 1990s. This isn’t earth-shattering news in and of itself. The main difference is that the bitcoin rout happened at 15 times the rate as the tech bubble….
Sealed Air Corp. (NYSE: SEE) trades at an EBITDA multiple of 13.0x, which is higher than the Materials sector median of 9.9x. While this makes SEE appear like a stock to avoid or sell if you own it, you might change your mind after gaining a better understanding of the assumptions behind the EV/EBITDA ratio. In…
