Foot Locker (FL) stock is a buy. It is cheap, it is set to improve significantly in 2018, and it pays a juicy dividend that is yielding over 3.5%. The stock, however, has been slammed recently: Source: Yahoo finance. This is a painful drop. But why did this happen? This came from an overreaction to […]

In a world dominated by mobile capital, mobile capital is the comparative advantage. Defenders and critics of “free trade” and globalization tend to present the issue as either/or: it’s inherently good or bad. In the real world, it’s not that simple. The confusion starts with defining free trade (and by extension, globalization). In the classical definition […]

Economists expected significant wage growth in the jobs report. Nope. The surprise was in the strength of jobs. Initial Reaction Today’s establishment survey shows jobs rose by 313,000 topping the consensus estimate of 205,000 and even the top estimate of 230,000 by a wide margin. The household survey (Table A) shows the baseline unemployment rate was […]

BTC/USD Bitcoin markets broke down a bit during the trading session again on Thursday, slicing a bit below the $9300 level. If we can break below the bottom of the range for the day on Thursday, extensively the $9000 level, we should continue to go much lower, perhaps reaching towards the $8000 level, perhaps even […]

Thanks to a strong monthly jobs report, the market is flying higher. The ES was up 23, the NQ was up nearly 70, and what was going on in the market one month ago today is a distant, distant memory. Because the economy is so strong, yields continue to strengthen (and, in turn, bonds weaken).  […]