|Day Low/High||162.29 / 164.20|
|52 Wk Low/High||150.58 / 219.75|
* There are many historical reasons to be concerned * The Nasdaq looks especially vulnerable (watch out below Apple!) * My conviction that an important market topping process is in place has grown Evidence of a market topping process, which began in...
* Raising my short exposure this morning As the business media dwells on the IPO, the market backdrop continues to deteriorate. I continue to see growing evidence that the market could be in a major topping process - with prior highs (and a possible...
Only economists and pundits seem to be worried about a pending crash that might never occur.
Verizon and 3M had very different earnings results, but both stocks have reacted by pulling back to attractive levels.
Why the Uber IPO and the market's take on China tariffs are so important, and what stocks would be most affected by any derailment.
The base just wants the scales leveled. That's what Trump wants, too, and he won't sign off on anything with China until he gets it.
The big portfolio managers get ahead of the turn in cycles -- as we can see in oil services, semiconductors and autos, among other sectors. Here's how to play their game.
With thirty minutes to go in the regular hours trading session: * Second day of weakness with 1,340 advancers and 1,610 decliners on the NYSE. * But we are way off the day's lows. In fact S&P futures are 17 handles above the morning levels (Made a n...
RMPIA outperformed once gain during April.
With 25 minutes of trading left in the day: * The markets moved back and forth from no change several times during the day. * At 3:35 pm closer to the lows, though. * Breadth negative - 1300 advancers, 1630 decliners. * Bonds were higher in the morn...
The rule: Never pay more than a stock's normalized valuation when making a new commitment.
'Rookie buying' ahead of the print can get you in trouble.
The price action of individual stocks is the canary in the coal mine that will tell us when there are some problems developing.
I have been preaching that we need to stay focused on price action more than anything else. This week was a particularly good illustration of why.
* The market's relentless advance continued, with the customary rally from the morning lows. * Breadth improved throughout the day (1,966 advancers, 973 decliners). * Bonds fell in yield, with the 10-year U.S. note yielding 2.50%. * Oil collapsed --...
It is easy to argue that this market should be rolling over but it is not and that means we stick with what is working which are long plays.
There are still dip buyers jumping on intraday weakness and the indices are staying above key technical levels.
Businesses are spending. If you're making stuff... if you're buying stuff, then the railroads are moving stuff.
The rest of the automakers just don't get it -- the sharing economy is a revolution.
Intel is often a more important market leader than the FAANG names.
With an hour to go, here are my key observations on the day: * Another smart rally off of the day's low (such a resilient market!) but not accompanied by a revival of breadth (which is now 1,175 advancers against 1,760 decliners). * Bonds rose by 1-...
These types of index divergences usually do not last too long.
The Amazon report is going to provide us with some very strong evidence of whether a short term top may be developing.
Perhaps it's a semantics question. Or perhaps it is a question that can not be answered. To me, price is both the Truth and a Lie. At any moment in time it is Truth, as we can buy or sell here as the collective wisdom of the investment world judges ...
If one wants to argue price is not truth, then I will happily trade with you.
The fact that the strong stocks are mainly index heavy weights is what is preventing an absolute rout of the indices at this point.
Something is amiss, as macro asset classes are pricing a slower-growth, risk-averse environment ahead.
As we have seen so far, in terms of market reaction, there is great reward at the point of sale in beating expectations.