Morning Thoughts July 2
Financials rallied aggressively into the close on Friday. XLF and BKX breaking above their 50dmas. BAC & MS +5%, however interestingly JPM -42bp on the day. Builders continued to outperform. S15HOME made another new 4yr high. KBH +13% squeezed higher after strong #s (and very low expectations). Within Tech, Semis outperformed behind strength […]
The Essence of Swing
A must read!!
I don’t necessarily subscribe to the entire thesis but a) the man has a stellar track record and b) we must see all sides and respect any potential outcome http://www.zerohedge.com/news/big-reset-2012-and-2013-will-usher-end-scariest-presentation-ever
Morning Thoughts June 1
I just hope at the very least over the course of this year I have managed to keep you out of an all in equities long portfolio I know there were trying times to this thesis but here we are now… This morning’s May employment report (very weak) was just another data point showing to […]
EUR/CHF…unsustainable
while structured products desks all over are likely busy with bullish EUR/CHF notes, risk manager minds understand this chart is unsustainable. Something will give and those who bought the bull structures will once again be left holding the bag. And so the game goes on…
Into the weekend
A slow drip lower today and I remain with my 1/3 short positio in SPY and almost all cash. One would expect some sort of bounce near the 200 sma on the S&P 500 (right here right now) but that doesnt have to occur into a weekend. We must stay away when things are […]
Hot Tech Stocks to Watch
Gap Update
There are so many air pockets (gaps) here any little wiggle will move us 20 handles in a hart beat. This here is the chart of the S&P 500 Emini Futures (March)…5 minute chart. Note the blue space and respect the massive potential for big moves here in coming hours and days.
Mid-Afternoon Update
Little to salivate over today in terms of pure price action so far….although we are dancing on the edge of a samurai knife here with a massive 30 point gap below and lots of air pockets above to fill as well. Something will give soon. The environment here remains lethal so stay away from it […]
A 11% Rally INTO Earnings Season…
…this makes it just a little…or maybe alot…more difficult for companies to rally significantly THROUGH earnings seson. it's something to keep in mind as we are setting up for JPM and GOOG to report tomorrow. what are we doing? trimming off some of our long bucket 3 inventory in CSCO and feeding it to the […]