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Morning Call For Wednesday, April 26
OVERNIGHT MARKETS AND NEWS Jun E-mini S&Ps (ESM17 -0.04%) this morning are down slightly by -0.04% before President Trump unveils the outlines of his tax plans later today. The upside in equities was limited and European stocks slipped -0.30% as energy producing companies declined as the price of Jun WTI crude (CLM17 -0.67%) dropped by […]
When Shorting Small-Caps Goes (Horribly) Wrong
Here’s some Tuesday afternoon humor for you. So the latest CFTC positioning data (out last Friday and current through last Tuesday) showed that specs (so basically, hedge funds) went all-in-er-er on bearish small-cap bets to levels last seen in September of 2014. Specifically, specs were net short Russell 2000 minis by ~71k contracts on April 18. That marked 11 out of 12 weeks […]
Forex Forecast For EURUSD, GBPUSD, USDCAD, USDJPY – Wednesday, April 26
Forecast for the EUR/USD currency pair Technical indicators of the currency pair: Prev Opening: 1.08672 Opening: 1.09276 Chg. % of the last day: +0.53 Daily range: 1.09211 – 1.09511 52-week range: 1.0366 – 1.1616 Yesterday the euro continued to strengthen against the US dollar. The growth of the EUR/USD quotations exceeded 0.5%. Today, there will […]
3 Rare Skeptical Ratings From The Street’s Top Analysts (AMZN, BABA, GOOGL)
Analysts tend to lean away from more bearish ratings as it can sour corporate relations and- in extreme cases- even lead to dismissal: see Mike Mayo and Adnaan Ahmad as two warning cases. “My views have been controversial in the global tech space and I have taken a fair amount of abuse” Ahmad said […]
A Murky IPO In Store For Cloudera?
Cloudera (Pending:CLDR) filed an S-1 with the Securities and Exchange Commission for its initial public offering. The company intends to offer 15 million shares at a price range of $12 to $14. It has an additional 2,250,000 shares over-allotted as an option for its underwriters. The underwriters for the offering are Morgan Stanley, J.P. Morgan, […]
U.S. Dollar Rollercoaster: Greenback Records Sixth Drop In Seven Days
It has been a volatile six weeks for the U.S. dollar. After rebounding from four-month lows, the U.S. currency has declined in six of the past seven sessions. The declines accelerated on Tuesday as geopolitical risks and a surging British pound weighed on the world’s most popular currency. The dollar index, a weighted average of […]
Oil Falls Below $50 Per Barrel Again… What’s Next?
Oil has been a hot topic of discussion for some time now. Ever since the global oil supply glut hit the limelight nearly 3 years ago, the price of oil has been at devastating lows. Last year and early this year, it was hoped that OPEC supply cuts would help to increase the price of […]
US Dollar Gains As Tax Plan Hopes Rekindle Trump Trade
The Australian and New Zealand Dollars continue to sink as a recovery in Fed rate hike bets continued to weigh against rate spread-sensitive currencies, extending yesterday’s trade dynamics. Appropriately enough, the US Dollar outperformed, with the benchmark unit tracking Treasury bond yields upward. The markets interpreted the outcome of the first round of the French presidential election as neutralizing a potent risk […]
Le Pen Is The Last Thing Standing Between Equity Bulls And The Promised Land
The Trump-flation narrative has driven U.S. stocks to valuations last seen in the tech bubble. On a relative value basis, Europe is a bit more appealing. As a result, hedge funds have been increasing their equity exposure to Europe since early 2017. The Fed is also in the middle of a rate hiking cycle while […]
E Market Briefing For Wednesday, April 26
Sequential breakaway moves by the S&P 500 must be respected, while they are also (on-top of high valuation levels) a blow-off completion move capable of occurring. With the market advancing above the ‘pivot’ level we’d outlined there’s no disappointment, there’s just a sober view of what this is, and what this is not. What this […]
