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Stocks And Precious Metals Charts – Holiday Week

Stocks And Precious Metals Charts – Holiday Week

Stocks continued their declines today. They are at support, on the very brink of a much larger decline. A bit surprising given the bias of this holiday week, and the traditional ‘Santa Claus rally’. And yet one barely detects any fear, and the safe havens are of little interest. We do have the phenomenon of […]
WTI Barely Bounces After Surprise Crude Draw

WTI Barely Bounces After Surprise Crude Draw

After the collapse in the energy complex today amid concern OPEC’s plans to cut production won’t be enough to stem a surge in stockpiles, all eyes are on API’s report to see if crude inventories rose for the ninth week in a row… 12-month lows for WTI… And Oil vol has reached its highest since […]
Well Known Facts Can Hurt You

Well Known Facts Can Hurt You

Our long-time readers are aware that we analyze the U.S. stock market through the prism of what we call “well-known facts.” A well-known fact is a body of economic information which is pretty much known to all market participants and has been acted on by almost everyone with available capital. Former Intel CEO Andy Grove […]
A Historically Bad Q4 So Far

A Historically Bad Q4 So Far

With the S&P 500 falling 9.08% QTD, it has been the sixth-worst start to the fourth quarter in the history of the S&P 500. The only worse Q4s (through 37 trading days) came during some of the worst years for the stock market (1929, the 1930s, 1973, 1987, and 2008). Below is a table showing […]
Foot Locker Shares Up After Positive Earnings

Foot Locker Shares Up After Positive Earnings

  CNBC’s Courtney Reagan reports on Foot Locker’s EPS beat.
Housing Market Index Craters

Housing Market Index Craters

Housing Market Index – Oversold Stocks Fall Again Many investors are no longer bullish on stocks even though they are oversold because the fundamentals look bad. We got a reminder of those weak fundamentals on Monday. The new outlook has been working. CNN fear and greed index showed “extreme fear” heading into the day and […]
FAANGs Slip To Bear Market: What Lies Ahead For ETFs?

FAANGs Slip To Bear Market: What Lies Ahead For ETFs?

The so-called FAANG stocks — Facebook (FB – Free Report), Amazon (AMZN – Free Report), Apple (AAPL – Free Report), Netflix (NFLX – Free Report) and Alphabet (GOOGL – Free Report) — which were the biggest drivers of the nine-year bull run, are caught in a nasty broad market sell-off. Each of the five stocks has been falling persistently over the last six weeks and […]
Stocks Slammed Into Red For 2018 Amid Carnage In Crude, Crypto, & Credit

Stocks Slammed Into Red For 2018 Amid Carnage In Crude, Crypto, & Credit

Unlike Monday, Chinese stocks were ugly overnight, erasing yesterday’s ‘odd’ gains…   And Yuan weakened modestly…   European stocks extended yesterday’s losses…   Pushing Europe to its lowest in two years…   US equities collapsed into the cash open, bounced to the European close then gave it all back…   Nasdaq is the biggest laggard […]
2018: The Collateral Case

2018: The Collateral Case

Last December, something clearly broke. The global basis had swept far under zero again, an ominous sign that eurodollar banks were having trouble creating, finding, and redistributing global funding. A cross-currency basis swap is one way to do it, the negative basis indicating a desperate shortage of dollars offshore (eurodollars). The negative basis wasn’t the only thing […]