Pure Rubbish? What The Buffett Indicator Is Really Predicting
Every so often an article is produced that is so misleading that it must be addressed. The latest is from Sol Palha via the Huffington Post entitled: “Buffett Indicator Is Predicting A Stock Market Crash: Pure Nonsense.” Sol jumps right in with both feet stating: “Insanity equates to doing the same thing over and over again and […]
Harvey Damage Could Top $40 Billion: Only One In Six Insured, 15% Of Refining Capacity Down
Damage from Hurricane Harvey is expected to total tens of billions of dollars. Current estimates range from $20 billion to $40 billion, but only one in six have insurance. Bloomberg reports Harvey’s Cost Reaches Catastrophe as Modelers See Many Uninsured. Hurricane Harvey’s second act across southern Texas is turning into an economic catastrophe — with damages […]
Equities Creep Despite Creepy Weather
We’ve all seen the tales and photographs of death and destructions from Harvey……. …..which, naturally, in this psychotic market of hours, has meant equities have been creeping up all night long…… ……leading, as shown below, to a bullish engulfing candlestick pattern. Now, the ES is only up 0.17% as I’m typing this, but it’s up […]
Why Jackson Hole Was A Whole Bunch Of Nothing
In our week ahead preview we talked quite a bit about the implications of this week’s data deluge for yields, the dollar, and especially for EURUSD. The context for that discussion is of course the exceptionally dour sentiment around the greenback and the widely-held belief that the euro has become something of a “sure thing” […]
Ringing The Cash Register
Occasionally, things work out perfectly. I am sitting here in front of my screens, and ALL NINE of my current positions are in the green. That includes four “RISK ON” positions (X), (GS), (AAPL), (HD), and five hedging “RISK OFF” positions, (GDX), (AAPL), (ABX), (NEM), (GS). As a result the Mad Hedge Fund Trader alert services has just posted […]
Singapore Technologies Remains Profitable, Despite Growth Concerns
Background Singapore Technologies Engineering Limited is a Singapore software and engineering conglomerate with a major focus on the electronics and aerospace sectors. Via a subsidiary, it has the largest mechanical airframe maintenance, repair and overhaul (MRO) operations for commercial aircraft in the world. Business operations are conducted in 20 separate countries. Business Description The group’s […]
JPMorgan Sees Up To $20B Of Insured Losses From Harvey
Harvey could result in $10B-$20B of industry insured losses, making it one of the top 10 most costly hurricanes to hit the U.S., JPMorgan analyst Sarah DeWitt tells investors in a research note. The analyst lists Validus (VR), RenaissanceRe (RNR), Everest Re (RE), XL Group (XL), Arch Capital (ACGL), Travelers (TRV), Chubb (CB), Allstate (ALL) […]
Stocks To Watch: TISI, GM, TEX
August has been a great month of trading so far. I’d encourage you to give it a try and make the rest of 2017 the best five months of your trading careers! Long Team (TISI) Long General Motors (GM) Short Terex (TEX)
“Oil Markets Roiled”: Goldman Calculates The Impact From Harvey’s “Devastation”
Oil markets were roiled, sending gasoline prices surging on Monday after Tropical Storm Harvey wreaked havoc along the Gulf Coast over the weekend, crippling Houston and its port, and knocking out numerous refineries as well as some crude production. As noted on Sunday, gasoline prices hit two-year highs as massive floods caused by the storm […]
Today’s Trading Plan – EURUSD, AUDUSD, AUDNZD
Good morning/afternoon everyone! It may be a quiet morning in the foreign exchange market but the weakness we saw in the dollar last week carried over this morning as the greenback is trading lower against all of the major currencies this morning. The market is still disappointment with Yellen and pleased with Draghi. However with […]
