Lincoln National Corporation (LNC)

72.29
0.47 0.65
NYSE
Prev Close 72.76
Open 73.69
Day Low/High 72.13 / 74.12
52 Wk Low/High 31.95 / 74.63
Volume 1.14M
Exchange NYSE
Shares Outstanding 187.92B
Market Cap 13.36B
P/E Ratio 13.07
Div & Yield N.A. (N.A)

My Takeaways and Observations

Perhaps more than ever, the market has no memory from day. Stocks closed up by 35 handles and ended at the day's high. What were the odds of this occurring at yesterday's close? Enough said. I got lucky and got slightly net long and covered a lot of...

My Takeaways and Observations

I started the day with a two-part opening missive that took a while to write this morning, "The Big Chill." It's here and here. Friday and Monday represented the worst two-day drop in the senior averages since last August. I guess it's clear, with t...

The Big Chill (Part Deux)

As I wrote in my previous missive, the Brexit vote's rejection of the 1990s/early 2000s globalization trend reminds me of the 1983 film The Big Chill's look at how the world changed between the 1960s and the 1980s. Let's check out some things that I...

Partly Covering Disney, Lincoln National and MetLife Shorts

I'm trading around some positions, as I often do. For instance, I recently covered part my shorts of Lincoln National (LNC), MetLife (MET) and Walt Disney Co. (DIS).

My Takeaways and Observations

"Takeaways" will be shorter than usual as I am trading actively in the after-hours market now. Some interesting charts. Brexit.  Brexit and the media.  Peak Housing?  Fertilizers bounce.  Markets closed on their highs. The U.S. dollar weakened. Oil ...

My Takeaways and Observations

Secular stagnation looms. This opener is an important one and I like the way it came out. Please read it if you haven't previously.  I have been getting shorter on every rally over the last one-and-a-half weeks. Today was no different.  Brexit odds ...

I'm Getting Shorter All the Time

I used this morning brief opening rally to increase my short exposure by adding to my short of the SPDR S&P 500 ETF (SPY). I might be wrong in going so short, but at least I'm consistent! In fact, I've added to several of the shorts in my book over ...

Takeaways and Observations

My thanks to James Gentile for substituting for me yesterday. Here are my takeaways and observations from yesterday's session: It was Groundhog Day on Wall Street again. We finished down, but well off of the session lows. I did no trading. The U.S. ...

My Takeaways and Observations

Buyers live higher, sellers live lower. Markets are still Fed-centric and governed by the last lean by Yellen. Ali Ali Ali!  Here's a very good column from El Capitan.   Apple (AAPL) is Crapple (Part Deux)  Fastenal (FAST) is always a good proxy for...

My Takeaways and Observations

Chart gazing.  The disappointing jobs report could be a precursor to stagflation and a garden-variety recession in late 2016/early 2017.   I sold my SPDR S&P 500 ETF (SPY) puts near the intraday low as time was running out (expiration in two weeks) ...

My Takeaways and Observations

I mused.  I fantasized.  I shorted more.  I questioned.  Late-day buying "stampede" on cue -- market closed at highs. The U.S. dollar strengthened. The price of crude oil rose by a couple of pennies. Gold fell by $1.30 to $1,213 -- still looking wea...

My Takeaways and Observations

Venezuela is the new Greece.  Icahn goes for some Allergan (AGN) -- a name of mine -- but his impact is muted after missteps in the energy space and elsewhere.   Nobody likes short people,  but I grow shorter daily. (Note: We got little hands and li...

Mel Brooks and the Markets

Moses (played by Mel Brooks): "The Lord, the Lord Jehovah has given unto you these 15 ... [drops one of three tablets] ... Oy! Ten! Ten commandments for all to obey!" -- History of the World, Part I Wall Street seems like a Mel Brooks film festival ...

My Takeaways and Observations

Did I mention that the market has no memory from day to day? It was a busy short-side day for me today. Disney (DIS) -- why the mouse is no longing roaring.   On management B.S.  Macy's (M).   Sears (SHLD) is the elephant in the room and a possible ...

My Takeaways and Observations

My explanation for today's market advance (it's as good as anyone's!): Markets were oversold. The S&P 500 held the 50-day moving average. The put/call ratio popped back up.  From here, the key might be to watch what other asset classes rally with eq...

The Market's Bullish vs. Bearish Factors

From my perch, the four key variables that affect stock prices are fundamentals, inflation/interest rates, valuation and investor sentiment. Two of these four are cooperating with the bears right now: Fundamentals. These are weak and weakening. Peak...

My Takeaways and Observations

Nyquist can now win The Triple Crown. Effortless win. I had a fun interview with Boston Red Sox fan Thomas Keene on Bloomberg "Market Surveillance."  I mused at the get go.  And one more muse.  I am a disbeliever on the China story and I'm shorting ...

My Outlook for the Market's Major Sectors (Part Deux)

Let's continue with my latest outlook for the market's major sectors. (You can read Part I of my views here.) Consumer Staples The U.S. dollar has recently declined, which is normally good for staples. However, valuations are at historically high le...

My Takeaways and Observations

Mo' Apple (AAPL).  Apple, are you Sirius (SIRI)?  Food for thought from a leading economic voice, Larry Lindsey.  Makes me want to buy gold on weakness! Staying short Tesla (TSLA) and bearish on Elon "P.T. Barnum" Musk.  Thanks for the big response ...

And on the Insurance Front ...

I continue to like the long Hartford Financial Services Group (HIG)/short Lincoln National (LNC)-MetLife (MET) pair trade.

Good News for Our MetLife and Lincoln National Shorts

Large earnings misses yesterday at MetLife (MET) and today at Lincoln National (LNC) and Prudential (PRU) are pressuring the life-insurance sector -- a space I have great disaffection for! LNC and MET are both on my "Best Short Ideas" list based on ...

My Takeaways and Observations

I started the day with an updated and still ursine market update: "Hey, Let's Be Careful Out There."   A new investment short -- England, via iShares MSCI United Kingdom (EWU).  EWU as a short went on my Best Ideas List. Jim Chanos and I are thinkin...

My Takeaways and Observations

My reaction to the Apple (AAPL) interview by Jim "El Capitan" Cramer.  It is amusing to me when many Apple holders and traders in the business media -- previously seeking short-term performance - now seem to rationalize the holding as a long-term in...

Good News for Our LNC, MET and XLF Shorts

Bond prices are moving much higher this morning, while yields are dropping -- something that's weighing on banks and life insurers. As a reminder, I'm shorting both sectors via shorts of Lincoln National (LNC), MetLife (MET) and the Financial Select...

My Takeaways and Observations

I have a routine doctor's appointment at 3 p.m. ET, so "Takeaways" is early today. Why I quit the SDS -- aka ProShares UltraShort S&P 500 ETF (SDS).    My take on the Berkshire Hathaway (BRK.B) shindig.  My diagnosis of Valeant Pharmaceuticals (VRX)...

My Takeaways and Observations

Tech as in Wreck -- with a hat tip to Bill Veeck!  iShares China Large-Cap ETF (FXI) turned out to be an OK "Trade of the Week."  I am sticking with my Peak Autos thesis.  I added to Hartford Financial Services Group (HIG) long; its earnings, though...

My Takeaways and Observations

My opening missive was "Monetary Policy in Wonderland": Central bankers have been effective in delivering a positive outcome in repressing volatility and producing higher financial prices but not in producing rising economic activity. The market bet...

My Takeaways and Observations

Dougie "Debbie Downer" started with ursine comments about Starbucks (SBUX) and China.  China's data is fake, like Elaine told Seinfeld. Hence, my short Trade of the Week, iShares China Large-Cap (FXI). I remain committed to the view that the price o...

My Takeaways and Observations

"And we talked about some old times And we drank ourselves some beers Still crazy after all these years." --Paul Simon, "Still Crazy After All These Years"  A crushing blow, financially and emotionally, for the bears today. The market didn't look ba...

Adding to Seven Shorts

I added to the following individual shorts today: Caterpillar (CAT), Lincoln National (LNC), MetLife (MET), Starbucks (SBUX), Fastenal (FAST), Disney (DIS) and Comcast (CMCSA)