Unwinding the “Most Crowded Trades”On Friday, I joined Liz Claman on Fox Business to discuss the economy, labor market, SAHM rule, and more. Thanks to Jake Mack, Kathryn Meyers, and Liz for having me on.
More on the Carry Trade
Many have been asking why the Nikkei (Japanese Equities) were down 25% in just a few days. We discussed how it works, what’s happening, and the outlook going forward, with Charles Payne, on Fox Business this Monday. Thanks to Nick Palazzo and Charles for having me on.Here were my “show notes” ahead of the segment: 
Marcel Munch re-posted an excerpt I did on this exact subject (in March) that predicted the events we have now seen in the past week
Now that we’ve all become 🇯🇵 Japan and Carry Trade experts, let’s not forget @HedgeFundTips and @leadlagreport have been pounding the table since months.
Sometimes it takes half a year to play out.
Sometimes longer … $QQQ $SPY $DXY $HSI $USDJPY pic.twitter.com/h4cNoHxbJz
— Marcel Münch (@_mm85) August 5, 2024
IntelOn Thursday, August 2, Intel reported earnings for Q2. Revenues dropped 1% yoy and the stock dropped ~30%. Here’s what CEO Pat Gelsinger had to say about the results and outlook on CNBC the night after the earnings call.Here are my initial thoughts on X:
Here were the results: 
Earnings Call:
A few skeptical analysts were out supportive of our macro thesis for Intel (referenced in the Twitter posts above). The Government has decided to make Intel a duopoly with TSMC. If you doubt their ability to subsidize an industry and make shareholders wealthy, just look at Tesla.
Cooper Standard
Big news:
Earnings Results:
Earnings Call Transcript:
Now onto the shorter term view for the General Market:
The CNN “Fear and Greed” collapsed from 52 last week to 21 this week. You can learn how this indicator is calculated and how it works here: (Video Explanation) 
The NAAIM (National Association of Active Investment Managers Index) (Video Explanation) moved up to 83.93% this week from 76.7% equity exposure last week. 
More By This Author:“Pals, Trowels And Towels” Stock Market (And Sentiment Results)
Is It Time Yet? Stock Market (And Sentiment Results)
“Cash Flow Is The Name Of The Game” Stock Market
