Gundlach Warns “The Order Of The Financial System Is About To Be Turned Upside Down”
“I’m not a big fan of bonds right now,” may seem like an odd way for the so-called Bond King to begin, but in an audience at Vanity Fair’s Establishment Summit, DoubleLine’s Jeff Gundlach told Bethany McLean, “I haven’t been really [a fan of bonds] for the past four years, even though I manage them, and institutions […]
EUR/USD Daily Analysis – Tuesday, October 24
EUR/USD extended its downside movement from 1.1879 to as low as 1.1725, breaking below 1.1730 support. Deeper decline to test 1.1662 (Aug 17 low) support is still possible. A breakdown below this level could trigger further downside movement towards the resistance-turned-support trend line on the weekly chart now at around 1.1400. Near term resistance is at 1.1790, […]
Watch For A ‘Deep Dive’ In The Euro
Some folks are sounding pretty bearish on the euro of late, and it’s not hard to understand why. The common currency rallied hard against the greenback in the first nine months of 2017, as a policy divergence story (hawkish Fed/supportive fiscal policy in the U.S. versus political risk in Europe and a dovish ECB that, to […]
Even Fire Roosters Stop When The Cows Come Home
Driving along a state road on Sunday morning, we had to brake for cowboys and their border collies that were herding their cattle towards home. As a NYC girl who has only seen that happen in the movies, I find it thrilling. In the market, we put on the brakes today. With earnings season revving […]
Overbought
“I had to cover my shorts.” That’s what my friend Matt told me after the company came out with its quarterly earnings and issued upbeat projections. I asked Matt, “how long are you going to keep shorting these companies. This is like the 10th time you’ve been forced to cover.” I don’t remember anymore how […]
HDFC Bank And Infosys To Report Their Quarterly Results Today, Strong DII Inflows Supporting The Market Rally
Hefty DII Inflows a Key Reason for the Rally on Dalal Street Mutual Funds are seeing massive inflows. The inflows in mutual funds in FY17 at Rs 3.43 trillion were 155% higher as compared to a year ago. Post demonetization, the shift to mutual funds have been noteworthy. There are a few reasons for this sharp […]
Above The 40 – The S&P 500 Flips 180 And Wavers
AT40 = 63.5% of stocks are trading above their respective 40-day moving averages (DMAs) – ended 12 straight days overbought AT200 = 58.8% of stocks are trading above their respective 200DMAsVIX = 11.1Short-term Trading Call: cautiously bullish (downgrade from bullish) Commentary Just when I thought it was safe to stay bullish, the stock market took a notable turn southward. […]
It Is Seven Times More Difficult To Get A Flight Attendant Job At Delta Than Enter Harvard
One of our preferred “off beat” economic indicators is how many workers apply at any one given moment in time for jobs that are hardly considered career-track. An example of this is the number of applicants for minimum wage line cook jobs at McDonalds, or flight attendant positions at Delta Airlines; conveniently, this is a series […]
What To Watch In Caterpillar Earnings Report
Caterpillar (CAT) is scheduled to report results of its third fiscal quarter before the market opens on Tuesday, October 24, with a conference call scheduled for 11:00 am ET. What to watch for: 1. GUIDANCE: On July 25, Caterpillar reported results for its fiscal second quarter and raised its forecast for fiscal 2017. The company […]
Euro May Overlook PMI Data, Pound Eyes Hammond Testimony
Eurozone PMI data is expected to show that manufacturing- and service-sector activity growth slowed in October. Meanwhile, the ECB Bank Lending Survey may offer clues about the extent to which the central bank’s QE effort has helped stoke credit growth. Neither seem likely to get a lasting reaction from the Euro however as traders await Thursday’s monetary policy announcement. Meanwhile across […]
