Author Archive: Jeremy Parkinson
VXX Short Squeezed As VIX Beta Hits -19, Highest Since September 2008
Whether it is because bond yields finally broke out of 6 month ranges, due to nerves ahead of tomorrow’s ECB tapering announcement, because the SNB is taking a long lunch break, or simply because investors finally realized that stocks have never been more expensive… … but something odd is taking place today: selling, and nowhere is […]
Bitcoin Completes A 5 Of A 5 Wave Count
Bitcoin is now in the process of pulling back within the 1st leg of a perceived A-B-C correction since completing a 5 of a 5 wave count. This narrowly missed a measured move target in the 6200 region, but is in the vicinity of a terminal wave count. Typically, after completing an impulsive move, it is […]
“Buy & Hold” Fantasy Story Reaches Fever Pitch
“Much of what passes for orthodoxy in economics and finance proves, on closer examination, to be shaky business.” The Misbehavior of Markets – by Benoit Mandelbrot & Richard L. Hudson. I’m concerned at this juncture for the “buy-and-hold” zealots. I know, and respect, many of the disciples. I mean, I really like these professionals, study their work, but I […]
Subject To Gradation
Economic growth is subject to gradation. There is almost no purpose in making such a declaration, for anyone with common sense knows intuitively that there is a difference between robust growth and just positive numbers. Yet, the biggest mistake economists and policymakers made in 2014 was to forget that differences exist between even statistics all […]
Trump’s Planned Tax Reforms: A Look At The Numbers
Introduction Tax reform is never easy. There are with lobbying groups aligned on all sides to protect their special interests and create new ones. This makes tax reform one of the most difficult political feats to accomplish. At this point, only the broad outlines of Trump’s tax reform plan are available. Below, the numbers on […]
Accenture: A High Quality Dividend Growth Stock Benefiting From The Digital Age
Accenture (ACN) has raised its dividend every year since it began paying one in 2005, recording annualized dividend growth en excess of 20% during that time period. With healthy payout ratios, excellent free cash flow generation, a clean balance sheet, and proven durability, Accenture is well-positioned to continue rewarding shareholders with strong dividend growth in the years […]
Time To Bet Against Bonds
Note the breakout for the triple-short ETF symbol TMV. Our nation is over $20 trillion in debt, and this fantasy that we’re somehow going to pay for it is a pipe dream. Interest rates are going to roll higher as the months and years proceed, destroying debt-holders.
Ethereum Prices Settle On Fibonacci Support
ETH/USD Daily Chart Technical Outlook: Earlier this month we noted that Ethereum prices had carved out an, “impressive monthly opening-rang just below key resistance at 312/21– a region defined by the 61.8% retracement of the September decline and the 61.8% ext of the advance off the subsequent lows.” A topside breach on October 13 saw prices rally into confluence resistance […]
‘We Miss Volatility’ – ‘This Is A Strange World’
Equity vol is not an island. That’s from Goldman, who reminds you that if all you’re paying attention to is the VIX, then you should look around, because volatility is suppressed across the board. Hopefully, you already know that, but on the off chance you don’t, have a look at this: This is a […]
Three Developments In Europe You May Have Missed
The focus in Europe has been Catalonia’s push for independence and the attempt by Madrid to prevent it. Tomorrow’s ECB meeting, where more details about next year’s asset purchases, is also awaited. There are three developments that we suspect have been overshadowed but are still instructive. First, the ECB reported that its balance sheet shrank last week. […]
