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Archives by Year:
Flies In The Ointment
Listen, the Nikkei fell again on Friday, and that is totally unacceptable. As you know, Thursday was a rollercoaster for Japanese equities which, thanks to a harrowing late afternoon decline following a move higher in the morning, were subjected to the largest one-day swing in a year. Well on Friday, things were more orderly, but […]
GBP/USD Daily Analysis – Friday, November 10
GBP/USD has moved sideways in a trading range between 1.3027 and 1.3337 for several weeks. As long as 1.3337 key resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.3657, and a breakdown below 1.3027 support could trigger further bearish movement towards 1.2774 support. Near term resistance is […]
The Fetid Swamp Of Tax Reform
The likelihood that either party will ever drain the fetid swamp of corruption that is our tax code is zero, because it’s far too profitable for politicos to operate their auction for tax favors. To understand the U.S. tax code and the endless charade of tax reform, we have to start with four distasteful realities: 1. […]
“This Looks More Frightening”: Global Stock, Bond Selloff Accelerates Amid Risk-Parity Rumblings
Yesterday’s Japan flash-crash inspired selling continues for a second day, with global equities – and bonds – sliding early Friday on concerns U.S. tax reform – and corporate tax cuts – will be delayed after Senate Republicans unveiled a plan that differed significantly from the House of Representatives’ version. After suffering their biggest plunge in […]
Aurora Cannabis Continues To Grow Like A Weed
Aurora Cannabis Inc. (ACB.TO) (ACBFF) continues to execute and advance its business model as Canada prepares to legalize recreational cannabis and the market has taken notice of this. For the second time in ten days, Canaccord Genuity raised its price target on the Canadian medical marijuana producer. Today, Canaccord raised its price target on Aurora […]
Stocks Hit An Air Pocket… Again!
Stocks got their first little taste of pain yesterday as we close out this half cycle. Full cycle losses in the coming bear market will extend to at least 60% in my estimation. But it remains to be seen if this new decline is the beginning of something greater. The DOW was down more than […]
WTI Crude Oil And Natural Gas Forecast – Friday, November 10
WTI Crude Oil The WTI Crude Oil market rallied a bit during the day, but quite frankly it’s overextended at this point, and it looks as if the $58 level is going to continue to cause issues. We formed a shooting star during the Wednesday session, so it could be a sign that we are […]
Roth Capital Upgrades Canadian Solar Amid ‘Overwhelming Sense Of Cynicism’
Roth Capital analyst Philip Shen upgraded Canadian Solar (CSIQ) to Buy from Neutral and raised his price target for the shares to $24 from $15. The solar power company closed yesterday down 11% to $16.84. The analyst sees an attractive entry point post yesterday’s selloff and believes an “overwhelming sense of cynicism” is now […]
The Amazing Picture Of America’s Oil Export Growth
In December 2015, the U.S. Congress lifted a 40-year old ban on the export of crude oil from the United States. One month later, the U.S. exported a little over $0.5 billion worth of crude oil out of the country. In September 2017, oil exports from the United States to foreign countries surged to $2.3 […]
Restaurant Traffic Continued To Fall In October
Recent earnings reports from Red Robin Gourmet Burgers (RRGB) and DineEquity (DIN), parent of IHOP and Applebee’s, showed continued same-store sales declines, which in our view reflects our cash-strapped consumer investing theme. As these rear-view mirror results continue to come in, we’re focusing on more recent data that point to some improvement, but while some may […]
