Around the Horn with the Sector SPYders

Let's start the week with a look at the all the major sectors. It's helpful to look at all the sectors on fractal time frames to get an idea of the big picture and where we are going...

Talking Dollars On A Snoozer Monday

Let’s talk about dollars. As you might have observed, the broad dollar got quite a boost from Friday’s strong payrolls number: That’s basically just rate hike expectations. It’s a kind of “ok Janet, how are you going to justify not hiking now?” bet. Of course the irony is that that dollar strength can and has…

Ignorance Is Bliss: Markets Steady As Geopolitics, Global Trade Paint Grim Picture

Well, less is more and bad news is good news again. Or at least that what it feels like out there. It’s kind of hard to catch the narrative today, probably because nothing makes much sense. Chinese trade data out overnight was less than inspiring to say the least. Citi is out calling it a…

The Search for Alpha

Where do you go for returns in this market place? Stocks are at all time highs. Bonds are at all time highs. Gold is up 25% in the last 6 months. Since May, we’ve heard negative equity calls from Stan Druckenmiller, George Soros, Carl Icahn, Jeff Gundlach and Bill Gross. Why? Because being short is…

Hockey Sticks In The Matrix

If you’re a bear, the funny thing about this market is that pullbacks don’t feel like they should. That is, when stocks close red, you don’t feel vindicated. In fact, it’s the opposite. When you hear the closing bell you almost feel like maybe you should have bought the dip. It’s like we’ve reached a…

Economic Reflections On Jobs Friday

In light of today’s white hot jobs print, we wanted to address something that’s been bugging us for quite sometime. It’s one thing to observe an economic trend and explain, preferably using data, why you think it’s undesirable or otherwise suboptimal based on your utilitarian view of what’s best for society. That’s great. It’s called…

And The BLS Said, “Let There Be Jobs!”

Now you see why we made such a big deal out of the Fed, Treasury yields, and data dependence on Thursday. Allow us to show you two headlines that hit the terminal within eight minutes of each other Friday morning: FOMC’s Dec. Mtg ‘Still Most Likely’ Time for Next Hike: BofAML ‘Let’s See Yellen Get…

Time to Go Bearish on AAPL?

The jobs report hasn't moved the markets in a while. Tomorrow will probably be no different barring any major surprise. Let's look at a few trade set ups for tomorrow. There's one I like in AAPL that we can set up in tonight's video...

One Bank Looks At “Surprises” — And We Weren’t Surprised With What They Found

On Wednesday, Goldman was out with an interesting note on the extent to which Treasury yields react to economic data surprises. Right off the bat that sounds boring, right? Well it’s actually not. This wasn’t just an academic exercise for the sake of meeting some research quota. It matters a great deal these days because…

The Queen’s Bazooka: Full Bank Of England Post-Mortem

Now days, it’s always advisable to curb your enthusiasm when it comes to hitting the keyboard frantically as soon as a developed market central bank announces something big. Why? Because in all likelihood you’ll end up having to publish something an hour or so later with a title like “market fades latest central bank Hail…