Seeking Alpha

Eric Parnell, CFA

 
View as an RSS Feed
View Eric Parnell, CFA's Comments BY TICKER:
Latest  |  Highest rated
  • Market Outlook: The Game Has Changed [View article]
    Hello IT,

    Thanks for your comment. You are right that I'm currently getting myself back up to pace on SA after a brief hiatus over the last few weeks, as I have been tending to other work related responsibilities. I stopped by your Instablog earlier this evening and plan on joining the discussion more soon.

    Thanks again and I hope that you are doing well and enjoying the summer so far. I look forward to talking with you more soon.
    Jul 10 12:39 AM | Likes Like |Link to Comment
  • Market Outlook: The Game Has Changed [View article]
    Hello macombet,

    Great point in your comment. I find it comical the continually euphoric reactions to what have been generally uninspiring jobs numbers in the aftermath of the financial crisis. We need to be seeing consistent +200K to +300K job gains at least to even begin drumming up real excitement about economic prospects. And these jobs need to be of the higher quality full time variety instead of the lower quality part time positions that have dominated these overrated employment reports over the last few years.

    Thanks again for sharing your thoughts.
    Jul 10 12:36 AM | 2 Likes Like |Link to Comment
  • Market Outlook: The Game Has Changed [View article]
    Hello Ted,

    Thanks for your comment. I believe you and I are on the same page. I am largely in cash at the moment for the reasons that you have mentioned, as I am currently viewing cash as the best hedge against what continue to be unpredictable markets. And the selected stock positions that I currently own are with a very short-term focus and extremely tight technical parameters.

    Your comment alludes to an important point that often gets overlooked in the media. Just because a market is unexpectedly going up does not mean that it is any better or healthier than a market than is unexpectedly going down. To your point, this is part of what makes times like today particularly dangerous.

    Thanks again.
    Jul 10 12:32 AM | 1 Like Like |Link to Comment
  • Market Outlook: The Game Has Changed [View article]
    Hello ctjaeger - This is an excellent point. Holding Treasuries in an ETF should be viewed differently than holding the actual bonds. I use the ETFs for tactical price appreciation and at present I view the short-term price volatility associated with holding Treasuries to be far greater than what most investors may historically be accustomed to.

    Great point.
    Jul 10 12:28 AM | Likes Like |Link to Comment
  • Market Outlook: The Game Has Changed [View article]
    Hello 13761362,

    Thanks for your comment and you are reading my mind with your question. In the coming weeks, I plan on digging deeper into each of the asset classes and exploring the opportunities and risks. As for Treasuries, I am looking for one of two outcomes, as they continue to linger in limbo at the moment. Focusing on the 10-year Treasury yield, either a push higher into the 3% to 3.25% range or a decisive move lower back below 2.4% are both outcomes that would provide potential reentry points to consider for Treasury positions, as I continue to remain constructive on the category from a fundamental perspective. In the meantime, I share your view that standing on the sidelines and allowing things to play out is the best approach from a risk control standpoint.

    Thanks again.
    Jul 10 12:25 AM | Likes Like |Link to Comment
  • Market Outlook: The Game Has Changed [View article]
    Hello calciomadness - Thanks for your kind words. I appreciate it!
    Jul 10 12:21 AM | Likes Like |Link to Comment
  • Market Outlook: The Game Has Changed [View article]
    Hello tenofwands,

    Thanks for your comment. I am intrigued by your SA handle. Is this a reference to personal overburdening or is it more a nod to the investment markets having far too much of a good thing? Nonetheless, you raise some interesting points in your comment. Thanks for sharing your thoughts.
    Jul 10 12:21 AM | Likes Like |Link to Comment
  • Market Outlook: The Game Has Changed [View article]
    Hello Bigisbetter,

    Great point on the economic perspective. One of the things that has been striking in recent years and in particular over the last few months is how wildly market sentiment swings from week to week if not even day to day. Two weeks ago, fear was consuming the markets. Today, greed has once again returned in force and all is somehow well again. Such is the volatility that I expect we will continue to see in the coming months. Should be interesting.

    Thanks again
    Jul 10 12:16 AM | Likes Like |Link to Comment
  • Market Outlook: The Game Has Changed [View article]
    @The Cynic - Great comment with excellent points on a number of fronts. Thanks for sharing your thoughts.

    @studiophototrope - You raise an important point here that is worth expanding upon. I completely supported QE1, as it made no sense to allow the global financial system to collapse. It has been everything since the launch of QE2 that I have strongly opposed. Thanks for bringing attention this important differentiation.

    @faustius - Great point with which I agree. One of my primary objections coming out of the financial crisis was that Bernanke lost sight of his stated intent from his March 2009 60 Minutes interview, which was to first stabilize the system and then make the necessary changes to address the bad actors that caused the crisis. Unfortunately, this latter point was lost somewhere along the way, as the stimulus continues to freely flow more than four years later. Excellent point.
    Jul 10 12:14 AM | Likes Like |Link to Comment
  • Market Outlook: The Game Has Changed [View article]
    Hello Thinking Big,

    Thanks for your comment. I very much hope that the Fed and the PBoC can continue to show the restraint they have been demonstrating recently (particularly the PBoC). At some point policy makers need to step aside and let the system stand on its own. Hopefully this takes place sooner rather than later so we can finally get back to a more normal environment.

    Thanks again
    Jul 10 12:07 AM | 1 Like Like |Link to Comment
  • Market Outlook: The Game Has Changed [View article]
    Hello boatman,

    Great comment as always with a number of good and interesting points. Certainly a lot to watch on the Fed front in the coming months. And your projected timing for 2015 makes a good deal of sense if the Fed and the PBoC end up getting sucked back in for more stimulus. It will be interesting to see how it all plays out.

    Thanks again.
    Jul 10 12:06 AM | 1 Like Like |Link to Comment
  • Market Outlook: The Game Has Changed [View article]
    Hello New Superhuman,

    Some very good points, and I agree that the stock market clearly wants to go higher at least in the near-term. A run at 1687 on the S&P could very well be in the cards in the coming weeks if not days.

    Bernanke's speech tomorrow will be important to watch. Many in the market continue to believe that tapering is not coming any time soon, which places a downside risk for markets if he reinforces the idea that it's on deck for September. It will be interesting to see.

    Thanks again.
    Jul 10 12:03 AM | Likes Like |Link to Comment
  • Interesting Times For All Commodities And Investments!! Chapter 23............  [View instapost]
    Hello IT and all,

    I miss a few weeks and I miss a lot! Chapter 23 on what is now the #3 ranked blog on SA. Great work IT!

    I'm still getting back up to speed but will plan on checking back soon to join in on the discussion.

    Talk to you soon.
    Eric
    Jul 9 11:59 PM | 1 Like Like |Link to Comment
  • Market Outlook: The Game Has Changed [View article]
    Hello Amouna,

    Thanks for your comment and excellent points. Your comment about political will is particularly important, for the lack of it is likely to lead to some already long overdue adjustments being made much too late in the end.

    Thanks again.
    Jul 9 11:56 PM | 1 Like Like |Link to Comment
  • After The Fed: The Battle Lines Have Been Drawn [View article]
    Hello newbeach861,

    Thanks for your comment and for a very good question on Bernanke. It is my belief that the President has known for some time about Bernanke's intent on retiring from his post in January 2014 and the transition process is underway internally. It would be very surprising to me for a variety of reasons if Bernanke's replacement is anyone other than Janet Yellen, which would imply a good deal of continuity for bonds at least as it relates to how they are impacted by Fed policy. But with all of this being said, I recognize that others may be in the running for the post, so it is worth watching closely in the months ahead. The itinerary for Jackson Hole may provide some good insights on this point in the coming weeks.

    Great question. Thanks again.
    Jun 20 07:27 AM | 2 Likes Like |Link to Comment
COMMENTS STATS
2,244 Comments
2,387 Likes