Etsy Stock Plummets 9% After Wedbush Hints At Counterfeit Risk
On Monday, analysts at Wedbush Securities Inc said they believe that fake goods on online marketplace Etsy Inc’s (ETSY – Snapshot Report) website may instigate problems for the newly public company. Wedbush downgraded the stock to “Underperform” from “Neutral,” with a 12-month price goal of $14. This announcement caused the stock to tank 9% during […]
30Y Treasury Yield Tops 3.00% For Only 2nd Time In Over 5 Months, Stocks Slide
Having briefly tested above 3.00% on Thursday, for the first time since December 2nd, 2014, the post-payrolls reaction continues today with 30Y yields up 9bps and back above the 3.00% Maginot Line. We note, additionally, that as Deutsche reports, net short exposure to Treasuries is back at the extremes of its recent range. Now up […]
Maps Might Be The Clue To Nokia’s Future Path
When Nokia (NYSE:NOK) was still a mobile phone powerhouse, it bought a company called NAVTEQ. The transaction was made at around €6 billion ($6.7 billion assuming the EUR/USD at 1.12), slightly less than the €7.5 billion ($8.4 billion) that Nokia sold the once mighty mobile business to Microsoft (MSFT) for (just to put some perspective […]
Ventas – Sell Signals
Today I deleted Ventas (NYSE:VTR) from the Barchart Van Meerten New High portfolio for negative momentum: Barchart technical indicators: 72% Barchart technical sell signals Trend Spotter sell signal Below its 20, 50 and 100 day moving averages 16.16% off its recent high Relative Strength Index 37.99%
Financial Asset Holdings At Extreme While Real Assets Repressed
Financial assets now represent more than 82% of the net worth of both households and U.S. non-financial corporations, according to Federal Reserve Z.1 Flow of Funds data. The concentration of private net worth in financial assets, rather than real assets or productive capital, has reached the highest extreme in history. Graphic via williambanzai7 The global, central-bank, front-running, […]
Gold Daily And Silver Weekly Charts – Deliverable Gold In The Comex Falls To Record Low
This is an inactive month for gold on the Comex, and the delivery reports, such as deliveries at The Bucket Shop which are merely an exchange of claim checks, reflect this. So I was a little surprised to see that in the latest warehouses report the ‘registered’ or deliverable gold, at these price levels, has fallen to record […]
A Tale Of Two Graphs – Why Bubble Finance Will Fail
On Friday the BLS reported, among other things, that full-time employment in April had dropped by 252,000 from the prior month and that the weekly earnings of production workers had risen by the grand sum of 67 cents (0.1%) before inflation and taxes. But why should still another confirmation that the main street job market is dead in the […]
A Look At Corporate Profit Margins
As the first quarter earnings season draws to a close, the results have actually been quite a bit better than expected. The “beat rate,” or the percentage of companies beating the consensus earnings estimate going into the earnings announcement, is running at 67%. The average beat rate of the past five years has been 65%. Of […]
Lack Of Follow Through For Markets
After Friday’s gains in the Dow there was an opportunity for other indices to follow suit, but buyers suffered a bout of shyness. Tech and Small Caps finished the day near their lows after handing back early gains. For the Russell 2000, the day finished with an inverse hammer just below its 50-day MA (which […]
Bond-Ocalypse Sparks Stock Selling Scramble
Given the illiqiuidty in markets and distance between fundamentals and perception, this seemed an appropriate analogy…. Stocks were exuberantly running stops early on as talking heads proclaimed the great rotation about to begin… Then once stops were run and bonds kept bleeding, stocks were shaken… Click on picture to enlarge After Hours, yields kept pushing […]
