2021 was a year that will be long-remembered for retail investors’ flash-mobbing of “meme stocks” thanks to social media sites like Reddit and online trading platforms like Robinhood. The rocket ship emojis and popular trends that included trading in non-fungible…
The bullish sentiment for a year end rally is palpable. The Russell 2000 Small Caps ETF (IWM) closed up 49 cents (0.21%) on average volume Tuesday – hardly a convincing move – and yet the Twitter technicians were jumping over…
Monday’s trading session was bullish and the trend remains up regardless of the fundamentals. The most positive development was the broadening out of market strength. Last week was all about mega cap tech pulling up a thin market. Today the…
I got it wrong. Early Friday morning I asked “Is the bull market over?” and answered that – while no certainty was possible on such a question – I believed that in the wake of the negative reception to Apple…
The great hedge fund manager David Tepper of Appaloosa Management gave an extended interview [CNBC Pro Subscription Required] to Scott Wapner on Friday’s Fast Money Halftime Report on CNBC. The key takeaway in my opinion is that interest rates will…
The stock market has been very thematic since the March 2020 COVID lows as investors try to invest in an environment of extreme uncertainty.
As a generalist macro investor I focus on mega caps or stocks in the S&P 100. I look for high quality, reasonably valued stocks that express my macro views. This morning I feel like digging into a few stocks that recently reported earnings to see if any might be prospects for my portfolio as well as for the light they might shed on the market as a whole.
There is a debate among economists about whether we are on the verge of one of the greatest economic booms in history or whether the current market rally is the bubble of all bubbles. The consensus view reflected in market prices is the former. The latter is the correct one in my opinion…
I’ll never forget it. It was 11:50am Friday March 26, 2021. I was short stocks, mainly tech stocks, and doing quite well when, all of a sudden and out of nowhere, stocks started to rip higher. From breaking down they went to exploding higher without rhyme or reason. I believe the NASDAQ ripped higher by ~2% in that time period into the close
There is a very interesting dynamic playing out in the economy right now that is almost certain to result in significant inflation. That dynamic consists in the reality of inflation as described by corporate executives, some examples of which you can read above, combined with the Fed’s refusal to admit that it’s anything more than “transitory”.