A Slippery Spot For Oil
Partly due to the rising dollar, commodity prices have come under pressure in recent weeks. Among them the price of oil too has pulled back and with it has just about erased half of its rally off the December lows. The bull case is that lower fuel costs will help the economy. The bears however […]
Fresh All-Time Highs for the Dow and S&P 500 soon?
Both the Dow Jones Industrial Average and the S&P 500 remain solidly in the positive column for 2013; the benchmark indices year to date are higher by a little more than 7.00% and 6.00% respectively. Moreover, both indices are within arm’s length of re-testing and possibly shooting past their all-time highs set back in October […]
NCR; Short-Side Opportunity With Defined Risk
NCR Corporation (NCR), the manufacturer of ATM machines, self-checkout and self-service kiosks and more has had an impressive run this year as the stock is up 50% to date. The stock, which trades in rather volatile swings, gained a quick 20% from November 16th to December 7th as word got out that the company is […]
S&P 500 Double Top?
Given that exactly one week ago on October 5th the S&P 500 failed to pierce through its September highs and has since retraced about, 2.50% some have asked themselves whether the charts are flashing a classic ‘double-top’ sell signal. In short, at first glance a double top is plausible, yet if one digs a little […]
Morning Thoughts July 12
Charts speak more than words, so lets look at a few of them this morning. Overall much has been thrown at equities here and they are just slowly moving lower, no crash. This leads me to think we may have a little relief upside here soon for a few days. But as always, we need […]
Morning Thoughts June 12
SPX opened on highs and closed on lows on heavy volume (126bp move down). Despite EUR 100bn bank bailout, IBEX closed -54bp (fell 500bp+ intraday) & 10yr +30bp to 6.466. Also weighing on sentiment, Moody’s is expected to announce downgrades to 17 global banks this week (TTN). Despite heavy closing volume, overall volumes were -8% […]
Afternoon Update – Please Read
A couple of thoughts as we head into the afternoon session. After a choppy early morning stocks found a thus far low for the day just around 10:45 am and at the 1305 – 1308 support level on the S&P 500. That support level also coincides with the 38.3% retracement of the equity bounce in […]
Bucket 2: Profit Taking
Just closed our long position in FDX at $90.30. Brings our cash levelsback to about 85%
Morning Thoughts January 12
Welcome back to the wolf pack. This morning's big gap up (which as I type this is almost evaporating) is being embraced by long-only managers in Europe. Let that be a flashing warning signal to us…always, always fade long-only managers in Europe (and in the U.S. for that matter), Futures overnight bumped up at the […]
First Order Of Business Today
As first order of business today we will close the remainder of our Bucket 2 long position in FDX for profits. Industrials have acted well and should at the very least be due for a pullback along with the rest of the market…after which theuy may be buyable again..or not.