Monthly Archives: August 2013
Too Drunk To Care
It’s been a very low-traffic day. Without a doubt, Americans are too busy to care about the onset of WW3 because Labor Day weekend is here and there’s heavy drinking to be done. Hell…I don’t plan on missing out either. To kick things off, I’ve got a date with some delinquents, a bottle of MacMurray […]
Vigilance Is Price Of Safety
Should we be worried about a possible head and shoulders pattern in the S&P 500? I’ll let you decide. I think equities have more to give, especially if there’s an attack on Syria. War does have a tendency to be bullish for stocks. But even if the market has indeed topped out, we can still […]
Sound The Charge
Nothing like the drums of war to dispel all talks of the taper and drive at least a brief return to fundamentals and risk/reward. What we’re seeing right now in currencies is a sizable move to the (reluctant) safety that the U.S dollar brings. Gold and oil also continue to get the boost. Should military […]
Tuesday Technicals – $GNW
Let’s profit off of the day’s negativity. Today I’m looking at Financial stock $GNW. I’d been playing it with call options since the beginning of the year, and it’s certainly treated me well. But as traders, we need to be comfortable with turning a golden goose into the red-headed step child. If price continues to […]
Macro Monday – The Bear Case
It’s hard not to be at least a little realistic bearish. Durable goods orders took a big tumble after realizing a three month party. A 7.3% drop represents the largest move to the downside in about a year. Volatile transportation goods shoulder most of the blame, but goods slumped for the month even outside of […]
Want To Beat Contango? There’s An ETF For That
“Investors tend to suffer when the near-future commodity futures their fund needs to sell are priced below the expensive, longer-dated ones it needs to buy — a pricing discrepancy that’s the essence of contango.” – Barron’s writer Brendan Conway The new iShares Dow Jones-UBS Roll Select Commodity Index (NYSE:CMDT) is the answer to the prevalent […]
History Can Repeat Itself
If your eyes were fixed purely on equities yesterday afternoon, you might have been left scratching your head. Volatile price-reactions spawned few clues as to future trend developments…no doubt as a consequence of an FOMC report that gave little indication of taper-timing. Fortunately, the Bond market told us much more. The 10-year Treasury note is […]
Here Comes Event Risk
From a scaled-out viewpoint, we can see that action in a number of correlated markets signals at least an attempt to price in a September taper. Today, major indices are at risk of finishing in negative territory once again, while the dollar subsequently looks poised for a near-term breakout. As I noted yesterday, the 10-Year […]
Tuesday Technicals – $XHB
Let the first Tuesday Technicals post commence! We’re going to kick this series off by breaking down the chart pattern of once heavily favored home builder ETF, $XHB. A few months back (during the height of QE3), this basket of housing stocks was the darling of many a trend-trader. Admittedly, I was included in that […]
Macro Monday – Sit On Your Hands
We’ve got plenty of event catalysts coming up this week. Besides both of the home sales announcements, jobless claims (currently at a six-year low), and most importantly – the FOMC meeting could play a major directional role in the near-term. Looking at equity charts today, it’s pretty clear that traders don’t know what position to […]
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