This Is Going To Sting
Well, some mixed emotions this morning. A lousy jobs report has gold soaring, the dollar crumbling, and the rally in equities zeroed out (for now). As I am typing the ES remains green, just barely, but there’s a lot of action elsewhere. I’ve got 48 short positions and am about 180% margined, so it could […]
Huge Miss: Only 138K Jobs Added In May; April Revised Much Lower As Wages Disappoint
As previewed last night, the jobs “whisper” risk was to the downside, and in what was a very disappointing print released moments ago by the BLS, the whisper was spot on with only 138K jobs added in May, far below the 185K estimate, and below the lowest estimate of 140K. This was the second lowest […]
Strong Finish To India Market Week; Pharma Stocks Rally For Second Consecutive Day
Indian share markets continued to trade in green during the afternoon session amid firm international markets. At the closing bell, the BSE Sensex stood higher by 136 points, while the NSE Nifty finished up by 37 points. Meanwhile, the S&P BSE Mid Cap and the S&P BSE Small Cap finished up by 0.7% and 0.5% […]
Wayfair Upgraded To Outperform From Perform At Oppenheimer
Oppenheimer analyst Brian Nagel upgraded Wayfair (W) to Outperform with an $80 price target. The online home goods retailer closed yesterday up $3.56 to $66.48. The company’s sales growth has been reaccelerating lately and its “inventory-light” business model is both powerful and underappreciated, Nagel tells investors in a research note. He views the stock’s valuation […]
Household Debt: Myth Vs Reality
Consumer Credit Card default rates have “surged” to 4 year highs. Capital One reported its largest write off since 2011 due to credit card delinquencies. Discover Card loan loss provisions in the 1st quarter 2017 rose a whopping 38% to $586 Million. Sounds like the alarm bells have rung! Myth or Reality? Alarming headlines are […]
Ethereum Elliott Wave View Showing Path For Bitcoin
Ethereum is an open-source blockchain-based distributed computing platform featuring smart contract functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a crypto-currency token called “ether”, which can be transferred between accounts and used to compensate participant nodes […]
May NFP Misses Headline – Focus Moves To ECB, RBA, FOMC
Talking Points: – May Non-Farm Payroll numbers came in below-expectations, with negative revisions for both April and March. Average hourly earnings increased by .2% for an annualized rate of 2.5%. – This has created another gust of weakness in the Greenback, and with a very busy next couple of weeks, we can certainly see volatility […]
Key Bounce Off Of Short-term Support
When you have a 15 point pullback in today’s market over a 3-day period, it becomes a ‘Generational Bottom’ or better yet, a ‘Generational Buying Opportunity’ for the bulls. Yesterday the market had a solid rally, a bit unexpected, as I didn’t think much of the market with it being a shortened holiday week. Nonetheless, […]
Equity Market Climbing The Proverbial Wall Of Worry
The individual investor continues to express concerns for stocks when looking at their sentiment response. Yesterday’s Sentiment Survey report from the American Association of Individual Investors showed a nearly six percentage point decline in the bullish sentiment reading to 26.92%. This pushes the bullishness reading one standard deviation below the average bullishness reading. Confounding investors is the […]
Is The Fed Really Going Raise Rates After This Disaster NFP?
Wages are stuck at 2.5% y/y. If the Fed is truly data-dependent, this data should hold them back from raising rates. And not only are wages poor, job gains also slowed down: only 138K jobs gained and a significant downwards revision worth a whopping 66K. If they do hike, they are basically trapped in their […]
