|Day Low/High||158.04 / 162.39|
|52 Wk Low/High||76.91 / 142.75|
* Sometimes it's that simple! Today we took the elevator down. We always seem required to find a reason for the market's action during the day -- it is the essence of the after-hours financial media shows. Most commentators have suggested that the m...
A reminder that I have a large short position in : Jan 22, 2020 ' 12:05 PM EST DOUG KASS Hedging With the Most Beloved Bank Stock * Shorting more JP Morgan I am pressing my (JPM) short hedge (against my medium-sized bank longs).
Watch bonds - as they are not modifying the equity market's recent rise. The yield on the 10 year is down to 1.72% (-5 bps on the day) - that's a multi-month low as I mentioned on Wednesday. I have pressed my JP Morgan short hedge against my bank ho...
* Shorting more JP Morgan I am pressing my short hedge (against my medium-sized bank longs).
* With a less favorable reward vs. risk ratio, banks are less attractive over the near term I continue to increase my effective cash position and to reduce my gross exposure in this uncertain and elevated equity market. I have been adding to my shor...
These 5 points will determine whether a high-multiple stock is going to advance, decline -- or just coast.
Which is older: the current bull market or Betty White?
While the president is pushing coal, this corporate giant is stepping up to cut the carbon cord.
There are attractive opportunities in 2020 among lesser-known regional banks.
It quickly becomes apparent that across the board, this firm is executing at a high level.
As we wait for the December Retail Sales report, here are some headlines catching my attention this morning: Shares of PPG Industries are down in pre-market trading following December quarterly results that missed EPS expectations despite reporting...
I have been among the most wary of China and its ability to change. I remain that way. But the U.S. got more than I ever thought.
Yesterday I shorted JP Morgan (at an average price of about $139.65) to hedge out a portion of my , and investments - which could be subject to a price correction in the weeks ahead. Yesterday and today I pared down C and BAC as they approach within...
What appeared as a day ready to take gains higher was knocked off balance by old news.
Another win for da Bulls as the market bent but didn't break after the four-month-long advance: * Market breadth was +200 (at 3:30 p.m.) -- again not bad, all things being considered. * Oil was flat and gold -$4. * Bond yields dropped by 2-3 basis p...
This is one of those days when there's so much good news that it's overwhelming, and we see moves that we didn't think were possible.
Here's why I shorted a few on JPM and my take on the eye-popping earnings.
I have added to my short hedge (at over $140/share) and I have reduce (modestly) my long (still at medium-sized where I will likely stay ) at $82.40 (given my year end price target of $87.50-$90.00).
Peter on comment, China and NFIB: The NFIB small business optimism index for December slipped 2 pts m/o/m to 102.7 after rising by 2.3 pts last month. It's just below the monthly average in 2019 of 103, down from 106.7 in 2018 and vs 104.9 in 2017. ...
Earnings reports could provide a "sell the news" excuse for a pullback, but a powerful wave of Fed-created liquidity is crushing skeptics for now.
Monday brought more record highs for the broader equity indices. As a trader, the feeling is so eerie. I'm not kidding.
As I mentioned in my post, I expect some profit taking in the banks stocks - even in light of slightly better than expected fourth quarter reports. Upon review of its earnings report, I have taken a small trading short in JP Morgan at $139.20 (in pr...
--I approach this group with some near-term caution after outsized gains (of between +40% and +50%) in 2019 --Small earnings beats might be met with modest profit taking --Citigroup and my other money center bank holdings are now within 10% of my ye...
The NYSE used to be the center of capitalism, but now it's where actual engineering, not financial engineering, is taking place.
There are multiple reasons to be wary of the market at these levels, and to be concerned about potential of rising inflation.
You are hearing talk of an 'earnings recession'. Just talk, my friends. Our marketplace has already been mired in an earnings recession for quite some time.
Stocks are set to gap up at the open this morning, but the big question is whether the news flow will be used as an excuse for some further profit taking.