Category Archive: Finance, No picture
Tesla Doubts Grow: JPMorgan Cuts Target To $195
Analysts have increasing doubts about Musk’s ability to take Tesla private. The BBC reports Tesla Slips as Doubts Grow Over Elon Musk’s Take-Private Plan. Shares in the electric car maker are down more than a fifth since he revealed the plan in a tweet on 7 August. Some analysts predict Tesla still has further to fall: […]
A ‘Stealth’ Rate Hike From Turkey And A ‘Pick Your Poison’ Quandary For Europe
Turkish stocks managed to rise in a shortened session ahead of the holiday, but the lira fell as markets continue to ponder the outlook for a currency that’s beset by an exceptionally unfavorable fundamental backdrop and concerns about central bank independence. Back in May, in an effort to regain control of the currency after President Recep Tayyip […]
5 Hot Stocks In The Dow ETF Last Week
After being hurt badly by the Turkey crisis early last week, the Wall Street regained momentum to close the week on optimism over trade talks between the United States and China and signs of stabilization in Turkey. Notably, Dow Jones Industrial Average closed at its highest level since February. With abating geopolitical tensions, the bullish […]
Gold Rebound Vulnerable To Hawkish Fed Rhetoric
GOLD TALKING POINTS Gold extends the rebound from the 2018-low ($1160) amid the recent weakness in the U.S. dollar, and the precious metal may continue to gain ground over the coming days as it initiates a fresh series of higher highs & lows. GOLD REBOUND VULNERABLE TO HAWKISH FED RHETORIC The inverse relationship between gold and the […]
Margin Debt And The Market – Monday, August 20
Note: The NYSE has suspended their NYSE Member Firm margin data as of December 2017. We have replaced our Margin Debt data with FINRA data, which includes data for all firms, not just NYSE member firms. The New York Stock Exchange previously published end-of-month data for margin debt on the NYX data website, including historical data going […]
Turkey Is Not Contained
During my last appearance on CNBC, before I was banned several years ago, I warned that the removal of massive and unprecedented monetary stimuli from global central banks would have to be done in a coordinated fashion. Otherwise, there would be the very real risk of currency and debt crises around the world. However, […]
Speculative Position Adjustments Include The First Net Short Euro Position In Over A Year
There were several adjustments in speculative positioning in the futures market that we want to bring to your attention. In the currency futures, speculators are now net short euros for the first time since May 2017. At a little less than 1.8k contracts, the net short position is not particularly large. The record net long […]
Amazing Revisions And Alleged Thrifty Consumers
In its latest report, the BEA revised spending down and income up. As a result, the savings rate rose. The Wall Street Journal claims the Personal Savings Rate is a Surprising Bulwark for the U.S. Economy. On the eve of the last two recessions, American households were unprepared. Years of appreciating stock portfolios, rising home values […]
The Grand Finale
Let me run a story by you. The dollar is rising against both its EM and DM counterparts, and U.S. equities— predominantly growth and tech—are gunning higher. By contrast, EU equities are lukewarm, and EMs are out-right struggling as balance-of-payment stress take down one domino after the other. In bonds, the U.S. front-end is held […]
The Importance Of One Percent Days For The S&P 500
Last year, 2017, featured an incredibly low number of days with big price moves for the S&P 500 (SPY). In particular, there were only eight (8), days when the S&P 500 gained at least 1% or lost 1% or more (for ease of explanation I will call this concept “days with at least 1% changes”). […]
