Dollar Drivel
Strong dollar or weak dollar, take your pick. The dollar took a break last week after President Donald Trump said that the dollar was too strong. U S. Treasury Secretary Steven Mnuchin told the Financial Times a strong dollar was a positive in the long term. Overall this did not help the mood of the […]
E Market Briefing For Tuesday, April 18
An upside ‘lockout’ for sellers was not at all surprising, since virtually the entire ‘air pocket’ last Thursday was as anticipated; an ‘absence of bids’ just ahead of the dreaded military weekend. I suggested that sellers would get nowhere early Monday, and we’d go right back up again in a short-squeeze, ‘if’ we managed to […]
Financials Stumble, But Still Lead Sectors For 1-Year Window
Financial stocks have been sliding over the last several weeks, but these companies remain comfortably in the lead for the trailing one-year return among US sectors, based on a set of proxy ETFs through Apr. 17. Financial Select Sector SPDR (XLF) is ahead by a strong 27.6% for the 12 months through Apr. 17, moderately […]
Goldman Misses As FICC Disappoints, Stock Slides As Average Banker Comp Hits $360K
Unlike the other big banks, Goldman’s earnings release is a breeze: since the bank has virtually no balance sheet to use as a source of income (or loss), it is all about the income statement. And it was here that there was a big surprise, because despite expectations of a blowout result, with whisper numbers […]
Technically Speaking: Oversold Bounce Or Return Of The Bull?
In this past weekend’s missive, “Markets Go On Alert,” I stated that due to the oversold condition of the market on a very short-term basis, a rally was due this week. To wit: “IMPORTANT: By the time weekly signals are issued on an intermediate-term basis, the market is generally oversold, with ‘bearish’ sentiment increasing, on a short-term (daily) basis. Given those short-term […]
The No.1 Marijuana Stock For 2017 (SPONSORED POST)
TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence. Some of the biggest marijuana stocks in the U.S. have seen 1,000 percent gains over the past couple of years, and now it is Canada’s turn — where no one’s even looking. Here, […]
Morning Call For Tuesday, April 18
OVERNIGHT MARKETS AND NEWS Jun E-mini S&Ps (ESM17 -0.22%) this morning are down -0.30% and European stocks are down -0.98% at a 3-week low as weakness in energy producing stocks and mining companies drags the overall market lower. May WTI crude oil (CLK17-0.85%) is down -0.78% at a 1-week low on concern that U.S. shale oil production is ramping up after the […]
BofA Reports 40% Jump In Profit Boosted By Interest Income, Trading Profits; Charge Offs Rise
Following conflicting earnings reports by JPM, Citi and Wells, Bank of America reported a jump in its quarterly profit, announcing EPS of $0.41, above the expected $0.35, as net income rose 40% Y/Y to $4.86 billion, up from $3.47 billion a year ago. Revenue was $22.25 billion, up from $20.79 billion a year ago, with […]
This “Scary” Setup Looks Profitable No Matter What Happens
This market is still going sideways, but I’m seeing a few warning signs, signs that traders and investors are getting a bit more cautious – and I trust the prices I’m tracking for this more so than pundits and public opinion. But the pundit class does have a role to play in this; they establish […]
US Dollar Is All About Divergence
As markets return to full participation following the Easter recess, and as a new trading week get’s underway, I thought it would be apposite to consider the three primary currencies of the US dollar, the yen and the euro on the daily timeframes. And for those of you who may be wondering why I have […]
