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Archives by Year:
Big Difference Mechanical Tightening
The mainstream narrative as it relates to Chinese money is “tightening.” Having survived the economic downturn last year, we are to believe that the PBOC is once again on bubble duty. They raised their reverse repo rates, considered to be their policy benchmarks, three times up to mid-March. The central bank also increased the rate […]
Sector Strength – Monday, April 24
The US Dollar dropped right down to the 200-day. Where next? The decline off the late 2016 high is so choppy that it makes me think the next big move is higher, not lower. But other indicators point to a lower dollar. This chart favors a lower dollar with non-US large caps outperforming US large […]
Low Volatility Is Crucial For SPX Breakout
Even though the S&P 500 Index (SPX) did not reach a new all-time high today (Monday), the SPX:VIX ratio did, as shown on the following two Daily charts. Keep an eye on the ratio, since an RSI above 50 and upside crossovers on the MACD and PMO indicators are signalling that a new bull market is shaping up […]
Whole Foods Soars On Buyout Talks By Albertson
Shares of Whole Foods Market, Inc. (WFM – Free Report) rallied Monday afternoon after a Financial Times report suggested that Albertson, a U.S. supermarket operator, is exploring the possibility of buying the high-end grocery store chain. Albertson, backed by Cerberus Capital Management, is the third largest supermarket chain behind Wal-Mart (WMT – Free Report) and Kroger (KR – Free Report). Cerberus reported holding a preliminary talk with […]
Baby, We Were Born To Run
Even this fast-running Roadrunner pauses at the Handicapped Parking sign. A bird born to run, it can outrace a human. It can kill a rattlesnake. It thrives in the harsh desert landscape. Last week, the market paused at the many potential handicap signs. This week however, the market once again proves it is born to […]
Breakouts All Around: Nasdaq, Russell 2000 And S&P
The French election result was greeted as a welcome trigger for breakouts. All indices benefited from the action. Best of the action was in the Russell 2000. The Russell 2000 cleared 1,390 which marked a resistance level of the former bearish consolidation triangle. Technicals are all bullish and an intraday move which pushed below 1,390 but came […]
E It’s Happening Again: When Media Loves Investing, Investors Should Worry
Thesis: As we last saw in 2008, we now have popular TV shows devoted to Wall Street and hedge funds, as well as self-help gurus turning investment authors. All of these are ominous signs to the intelligent investor who can view these events in a historical context. Some examples of Wall Street, hedge funds, and […]
Stocks Rally As Macron And LePen Make Second Round Of French Presidential Election
Inflation Decelerates Before I get into the latest market moving headlines this week, I want to emphasize the recent movement in inflation. While I have mentioned the decelerating inflation in passing, I didn’t give it enough coverage considering the large movement the CPI had in March. As you can see from the chart below, the […]
Why Macron Is A Risky Bet For France And For Europe
About two months ago I wrote about Emmanuel Macron as a risk, rather than a saviour. Today, following his 1st round presidential victory in France, I feel even more that he represents a risk that is unappreciated. Here’s why. As I put in March, “Macron as President is a ‘bad’ outcome for stability since he has […]
