Futures are off very slightly on this, the last day of OPEX week.It’s been a frustrating week for bulls and bears alike, as stocks have been carefully supported at 2985+. With any luck, the logjam is about to break. continued for members… … continue reading →
Housing starts and permits both fell, with starts missing expectations by a mile. Philadelphia Fed index also fell and saw a big miss. Capacity utilization and industrial output both missed and fell. So, naturally, the OPEX-obsessed S&P 500 futures are up 10 points. If things seem a little upside down at this point, know that … continue reading →
Some friends of mine recently came into some pretty serious money and asked me about investing. Since I don’t invest other people’s money, I’m a safe person to ask. There are plenty of good stockbrokers, insurance agents, RIAs and mutual funds out there. But, most of them have one thing in common. Almost without exception, … continue reading →
More fun and games from the market-rigging department… If SPX’s rally has impressed you, check out the Nikkei. Since its Aug 26 lows, NKD is up a whopping 13.8% — more than twice SPX’s impressive 6.0%.Do what I did and google “Japan” and “economy” for the past month and you’ll see nothing but negative stories … continue reading →
It was a mixed morning for banks. JPM beat on the top and bottom line due primarily to fixed income, currencies and commodities. But, Jamie Dimon sounded downbeat, referring to “weakening business sentiment and capital expenditures mostly driven by increasingly complex geopolitical risks, including tensions in global trade.” GS and WFC both missed on the … continue reading →
It’s that time again. After fading Friday’s fake news trade deal, it’s time to plot out the next few weeks of our analog. Futures are off mildly in what should be the next to the last hurrah before a substantial correction. But, as has often been the case lately, VIX is threatening to dash the … continue reading →
Once again, we reach an upper target for our analog without having tagged the downside target. It’s not that there weren’t opportunities. But, the cheerleading has been loud and long, with winks and nods over the last 12 hours as to how well both the Brexit and China trade deal negotiations are going. Then, of … continue reading →
The market remains in maintenance mode — meaning only positive headlines are permitted to register. Futures plunged 48 points from yesterday’s highs on news from the South China Morning Post that talks weren’t going well and the Chinese delegation would be leaving Thursday. They rebounded on a CNBC report that talks would continue through Friday. … continue reading →
Another day, another China trade deal rally. Futures are up about 21 points but the ramp job really started shortly after 7pm last night and peaked on “news” of a supposedly more conciliatory attitude on the part of the Chinese. Wasn’t it Trump who wasn’t previously open to a “partial deal?” continued for members… … continue reading →
Futures were already off 20+ points even before the big miss in PPI: -0.3% vs +0.1% expected. This is the worst print since Sep 2015.The YoY picture continues to look bleak, with PPI and Core continuing to roll over. It’s an excellent metaphor for the overall market — which makes me wonder when the next … continue reading →