|Day Low/High||49.71 / 51.12|
|52 Wk Low/High||7.03 / 58.22|
I'm hoping that we see some more rotational action rather than a broad market correction.
I'd rather be late jumping in on a bottom fish than jump in too early.
*Last week we looked at laggards to buy, today I look at shorts Last week I looked at laggards I would buy - some, like Amazon , Twitter and Walmart prospered: Apr 01, 2021 ' 08:30 AM EDT DOUG KASS Looking at Laggards * On the long side While I f...
* My revised levels I don't want there to be any ambiguity about the size of my positions, or about my buy and short levels, as I strive for as much transparency as possible. This column is a continued commitment towards that sort of disclosure. "Wh...
Stock futures have continued their climb this morning (5:20 am) - with S&P futures +12 handles and Nasdaq futures +95 handles. As I wrote in "There Is Always More Than One Cockroach": "The 1966 season took its toll on Los Angeles Dodgers pitcher S...
The speculative gewgaws have lost their bids again and are falling back to earth. , , , , , , etc., getting taken to the woodshed. Usually this portends broader market weakness - but there is nothing normal about this market. Meanwhile, in part ...
One group seeing some momentum today is bitcoin.
If I was trading I would probably be out of all my speculative gewgaw shorts - like , , , , , etc.
* To this observer they are shorts on any strength My speculative shorts -- (-9%), (-5%), (-5%), (-9%), (-7%), etc. -- continue to stink up the joint.
Yesterday the speculative gewgaws fell apart (e.g., , , and , etc.). Today the larger cap concept stocks are taking a fall ( e.g., , and ).
"You keep on stompin' And my heart is on the floor..." - Lewis Gizzard, You Done Tore Out My Heart and Stomped That Sucker Flat In yesterday's opening missive, "The Market Is a Hard Dog to Keep Under the Porch," I argued that the U.S. stock market ...
Bitcoin peripheral plays - , , , - continue to get led to the woodshed after large losses yesterday. I would consider selling or shorting all of these names.
* The U.S. stock market remains materially overpriced * I would use market rallies to reduce equity exposure * Value is stretched now (financials and energy) while growth valuations are vulnerable to higher interest rates * I am looking towards some...
Today's feature was a (not surprising) mean reversion back from value to (recently depressed) growth. Given the interest rate rise, I suspect there is a limitation or ceiling on growth stocks over the near term. Indeed with Invesco having peake...
Speculative gewgaws I was short - up until Friday - are getting schmeissed in today's trading session - , , , and . The construct of the Russell Index has grown increasingly speculative - the constituent components are indicative of the Index's poo...
The good news is that the number of stocks near intraday highs is expanding rather than contracting so far.
Traders have to move very quickly to stay ahead of the game.
Let's take a look at bitcoin futures and GBTC using Japanese technical analysis techniques.
The stronger the economy, the better it is for earnings, but more likely it will pressure multiples as interest rates rise.
Additional add on longs today - and Additional add on shorts today - , , , and . New short and add on today-
Based on the technical patterns, the risks of being long bitcoin and other cryptocurrencies appear high right now.
This corrective phase may go deeper, but we see some good support.
The longer this continues, the more anxiety there will be about being underinvested.
It's premature to predict that a low has been made, but plenty of stocks are quite washed-out already and are starting to find support.
If you aren't in the favored sectors right now, you are going to miss out.