Speculative Yen Longs Remain Near Record Levels
The most extreme speculative positioning, judging from the futures market is the long yen position. The bulls added another 3.4k contracts, lifting the gross long position to 82.8k contracts. The record was set in 2008 at 94.7k contracts. The gross short position was trimmed by 4.5k contracts, leaving 29.5k. It is the smallest gross short position […]
Chasing Headlines
It’s been an amazing start to the year. First the market cratered on slowing China economic concerns, domestic recessionary fears, deteriorating oil prices, and negative interest rates abroad. In response to all these worries (and others), stocks dove more than -11% (S&P 500 Index) in January, before settling down. Subsequently, the market has made a […]
E Gilead Versus Merck – $200 Million? Was That It?
The financial markets have been abuzz over the tete-a-tete between Merck (NYSE:MRK) and Gilead (NASDAQ:GILD). A jury upheld the validity of Merck’s HCV patents and analysts went wild with scenarios of potential up front costs and future royalties to Merck. I felt vindicated for having predicted the lawsuit had legs. Then this happened: A federal […]
Time For Another Leg Down? UBS Calls A Top As Corporate Profits Sink
Big banks usually promise their clients all sorts of things and always continue to issue recommendations to continue to invest in stocks and bonds (obviously to rake in their fees), UBS chartists and technicians Muller and Riesner have now publicly stated we might have seen another top of the S&P 500 index. And when Muller and Riesner […]
E John D’s Unquiet Grave
The Rockefeller Family Fund concluded there’s “no sane rationale” for companies to explore for oil as governments contemplate cracking down on carbon emissions, according to a statement on the website of the New York-based philanthropic foundation Wednesday. ExxonMobil has been ordered by the Securities and Exchange Commission to include a shareholder resolution on climate change in its […]
Dodge & Cox On Today’s Bond Market
Dana Emery, director of fixed income at Dodge & Cox, discusses why the firm likes corporate bonds and emerging-markets debt, where rates are headed, and bond-market liquidity.
E Did Total’s CEO Knife The Halliburton-Baker Hughes Deal?
The merger between Halliburton (HAL) and Baker Hughes (BHI) was announced with much fanfare. Over a year later oil prices are sub-$50, the global economy is in shambles and the deal is receiving a cool reception from regulators. Now oil giant Total S.A. (TOT) CEO Patrick Pouyanne may have knifed the deal: Total SA Chief Executive […]
E The State Of The Rally
The 13% rally of the SPX and Dow from the “Dimon bottom” of February 11 has been most impressive and has converted a lot of bears into at least neutrality. This week’s NAII Sentiment Survey: 34% bullish, 42% neutral, 24% bearish. Of such are tops made. But the market is chugging along with the rally still intact, […]
10 Resource Stocks With Outperformance Expectations
Written by SmallCapPower.com The key, as always, is choosing the right stocks, at the right time…so we chose companies with one or more of the following attributes: industry leaders, a top-notch project that more than one expert likes, and/or big-money backers. and, for the purpose of this exercise, we’ve tried to include as many different […]
