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Archives by Year:
This Cycle – It’s China!
I know everything is fan-freaking-tastic – with the tax reform bill and global synchronized expansion and all. I figure the last thing you need is some nattering naysayer throwing cold water on this unbelievable party, so I won’t. At least not for the short run. This rally will end when it ends. Maybe tomorrow, maybe […]
GBP/USD Breakout Faces First Hurdle- Bullish Above November Open
GBP/USD Daily Chart Technical Outlook: I’ve been tracking this advance in the British Pound for months now with Cable setting the November opening range just above slope support extending off the yearly lows. Earlier this month we highlighted that a breakout was imminent as prices continued to consolidate above this threshold. The subsequent breach above the monthly open / opening-range […]
Is Value Investing Really Dying?
In 2017, traditional value investing has suffered some of the most eye-raising attacks in recent memory. It started in June, when Goldman Sachs published a widely circulated report showing that following the value approach espoused famously by Fama and French returned a cumulative LOSS of 15% over the past decade. That is a remarkably bad performance in a climate […]
Did ECB’s Hansson Talk Out Of Turn?
Ardo Hansson is the Chicago-born Governor of the central bank of Estonia. He was interviewed by Market New today. He seemed to say that barring a surprise; the ECB can end the asset purchases next September. Recall that last month the ECB indicated it wouldcontinue to extend its purchases through the first nine months of next year, albeit […]
Is The Equity Market Making You Jumpy?
After nine years, some investors are getting increasingly worried about the continued viability of the long-running bull market. Add in the rumors of rising interest rates, and some investors are ready to make dramatic changes to their equity investments, such as moving a significant portion of their portfolio to cash or cash equivalents (money market […]
Chipotle, In Search Of New CEO, Says Founder Ells To Focus On ‘innovation’
Shares of Chipotle Mexican Grill (CMG) jumped in morning trading after the company announced it had begun to search for a new chief executive officer. Once the search is compete, Chipotle founder Steve Ells said he will focus primarily on innovation. Chipotle has faced several foodborne illness outbreaks since 2015. CEO SEARCH: Chipotle founder and […]
Tax Reform Rotation
I have often said that as traders, it is not our job to pass judgment on what should be, but, instead, to take advantage of what is. I will try to stick to that mantra when discussing the US tax “reform” package, but I must admit, it’s going to be tough for my feelings to not wiggle through. Regardless […]
October 2017 Pending Home Sales Seasonally Adjusted Index Rose Strongly
The National Association of Realtors (NAR) seasonally adjusted pending home sales index rose strongly following three straight months of diminishing activity, but continued to fall behind year ago levels. The quote of the day from this NAR release: … Until new home construction climbs even higher and more investors and homeowners put their home on […]
A Productive Day On Several Fronts
I spent yesterday morning in meetings with the folks at Janus Henderson here in Denver. I’m a big believer in the idea that active fund managers will be worth their weight in gold (or should I say, bitcoin?) in the bond market as rates, global economic growth, and perhaps even inflation, potentially chart new courses […]
US GDP Revised Up To 3.3% – USD Extends Gains
The US economy grew at an annualized rate of 3.3% in Q3 2017 according to the updated estimate. This is slightly better than 3.2% that was expected and above 3% originally reported. Q2 saw 3.1%. Corporate profits are up but not as much as beforehand. 4.3% q/q, 5.4% y/y. Personal consumption is somewhat on the […]
