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Face The Music And Dance

Face The Music And Dance

So, what’s the trouble ahead? Was sell-off Tuesday a sign of a severely overbought market correcting (see McClellan Summation index below)?  Worries about a weak earnings? Is Greece crawling its way back to the forefront as the IMF and EU duke it out over another rescue (the IMF recent leak)? Do the so-called Panama Papers […]
Solid Versus Shaky

Solid Versus Shaky

This post was intended to show a bunch of index charts and divide them into “solid” (those with solidly bearish patterns, in spite of the absolutely ludicrous and brain-dead rally from February 11 through April 1) and “shaky’ patterns. It turns out that I’ve only got one ‘shaky” chart to offer, which is the Dow 30, since it violated […]
New IOS Update Found To Have Privacy Issues

New IOS Update Found To Have Privacy Issues

On March 21st, Apple held a launch event for the company’s newest products and updates. Included in that presentation was the latest operating system update. Some of the positive changes made to iOS 9.3.1 include fixing of the bug that would cause the iPhone to lock up and drain battery usage, as well as the problems […]
Crude Spikes After Biggest Inventory Draw In 2016

Crude Spikes After Biggest Inventory Draw In 2016

WTI’s ‘mysterious’ spike into the NYMEX close extended after hours (almost as if someone knew something). Inventories drew down 4.6mm barrels according to API (drastically less than the expected 2.85mm build). This is the biggest weekly draw since Jan 1. Cushing was expected to see a build of 100k (after 2 weeks of draws) but saw […]
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                        Cattle Limit Down

E Cattle Limit Down

Cattle futures, both fats and feeders finished limit down today. The catalyst was sinking wholesale beef prices. Support in the April lies about 100 – 125 points lower than its settlement. The hogs looked as if they were going to stabilize today as the Junes were up over 100 points at one time during the […]
S&P 500 Snapshot: Down 1.01%, Worst Day In 19 Sessions

S&P 500 Snapshot: Down 1.01%, Worst Day In 19 Sessions

Most global indexes had a bad day today. Among the biggest losers were the Nikkei, ended its session at -2.42%, and Germany’s DAX fared even worse at -2.63%. At its open, our benchmark S&P 500 appeared to follow the trend, plunging a 1.03% in the opening minutes. It then oscillated in a narrow range before […]
Portfolio Management: Which Risks To Take

Portfolio Management: Which Risks To Take

At Smead Capital Management, we make it a practice of constantly reviewing our discipline of stock selection and portfolio management. Like a sports agent compares athletes, one of the ways we do this is to follow competitors with proven track records of success. Many portfolio managers of U.S. large-cap equity funds have had a very […]
Market Talk – April 5, 2016

Market Talk – April 5, 2016

Oil was blamed for the majority of today’s equity weakness but there was no new news and the reason was a little baffling! The Nikkei broke the 16k level and then fell another 300 points quite sharply. In late US trade it has lost an additional 150 points and is currently trading around the 15,500 […]
Pinnacle West Capital – Chart Of The Day

Pinnacle West Capital – Chart Of The Day

The Chart of the Day belongs to Pinnacle West Capital (NYSE:PNW). I found the electric utility stock by using Barchart to sort the Russell 3000 Index stocks first by the most frequent new highs in the last month, then again by the highest technical buy signals. Next I used the Flipchart feature to review the charts. Since the Trend Spotter signaled […]
The Lack Of Recovery Need Not Be Overly Complicated

The Lack Of Recovery Need Not Be Overly Complicated

Following the explicit path of orthodox monetary and economic theory delves into something very much like Lewis Carroll’s monstrous rabbit hole he devised for Alice all the way back in 1865. Like the story’s Wonderland, the other side of the hole leads to some version of nonsense that seems to project, in the book’s case, […]