Earlier today (Monday Jan. 5), when we were conducting a routine check with the Office of the Currency Comptroller’s on the total notional amount of derivatives held at the Big 4 banks in the context of the “JPMorgan break up” story, we found something stunning: using the latest, just released Q3 OCC data, JPMorgan (JPM)…
Equity markets around the globe have tumbled on Monday, led by commodity-linked shares as oil prices fell to 5-1/2-year lows and investors fled to the safety of government bonds. The so-called “smart money” is running into bonds and this is what we need to complete the bubble in bonds that will burst for BIG…
Another solid year for U.S. equities came to a close. But it’s not like everyone is jumping up and down with enthusiasm, which is a good thing. With plenty of bogeymen in the closet and under the bed, there is little in the way of irrational exuberance. Although some commentators noted that 2014 finished up…
The dollar has exhibited substantial strength in the past few months, both against the euro, and against a basket of currencies, as noted in the press (e.g., [1] [2]) While this assessment is correct, it’s useful to keep the dollar’s movement in perspective. Figure 1: Log value of US dollar on trade weighted basis against other…
The landscape continues to be challenging for many retailers despite improving economy, lower oil prices and healing labor markets. One such specialty retailer saw its share price plunge by more than 40% in 2014 but there are still no signs of a turnaround. New York & Company (NWY) is a specialty retailer of women’s fashion apparel…
On Monday, the price of oil fell below $50 for the first time since April 2009, and the Dow dropped 331 points. Meanwhile, the stock market declines over in Europe were even larger on a percentage basis, and the euro sank to a fresh nine year low on concerns that the anti-austerity Syriza party will…
UPDATE: Nikkei 225 Futs lose 17k – trading 16,985 Time for some GPIF asset re-allocation and spuriously repetitive headlines about Abenomics, 3rd Arrows, growth, anti-deflation, or some such bollocks (as they say in Japan). For now, JGB Futures are at all-time record high prices, USDJPY sits back under 119.50, and Nikkei 225 Futures are holding…
The Chart of the Day is Chart of the Day (CEMP). I found the pharmaceutical company by sorting the All Time High list for the stock having the most frequent new highs in the last month. Since the Trend Spotter signaled a buy on 11/26 the stock gained 69.65%, Cempra Holdings, LLC is a pharmaceutical company engaged in developing antibiotics for…
Today was the most profitable day I’ve had in a long time … at least a year, I think … and “stay the course” doesn’t make for very compelling content. But I’m going to try … I will state that I remain very short the market, highly concentrated in commodities and energy. Yes, I took…
Just as karaoke machines created a nation of wannabe singers, and WordPress created a nation of wannabe writers, so the imperfect storm of global connectivity, crowd-funding, and America’s protracted economic and employment malaise (aka Lagflation) have created a nation of wannabe entrepreneurs. While there are many articles out there urging you to throw caution to…
