Guggenheim Inverse 2x S&P 500 ETFNYSEARCA
RSW is defunct since March 15, 2013. Lack of investor interest
  • Mar. 12, 2013, 9:48 AM

    The trailing P/E ratio on the S&P 500 (SPY) has creeped up to 15.25 from just above 13 late last spring, writes Bespoke. There's nothing unusual about rising valuations during rallies, they say, but keep it on your radar. Contributing most of late to rising multiples have been Staples (XLP) and Discretionary (XLY), but dividend favorites Telecoms (XTL) and Utilities (XLU) continue to trade at nosebleed (for them) valuations.

    | Mar. 12, 2013, 9:48 AM | 3 Comments
  • Mar. 3, 2013, 9:13 PM

    Declining breadth - defined by the percentage of S&P 500 stocks trading above their 50-day moving average - is flashing a warning, writes The Fat Pitch. In late January, both the index and the breadth measure were rising, but the S&P since has made new highs while breadth has dropped off. This sort of divergence doesn't last for long and tends to be resolved by a 5-10% decline in stocks.

    | Mar. 3, 2013, 9:13 PM | 6 Comments
  • Feb. 28, 2013, 4:28 PM
    Despite today's closing hiccup, the S&P 500 is up in January and February this year. This has occurred 26 times since 1945, notes Bob Pisani, and each time the S&P finished green for the year, with an average gain of 24%.
    | Feb. 28, 2013, 4:28 PM | 15 Comments
  • Feb. 25, 2013, 1:06 PM
    The S&P 500 (SPY) has gone 505 days without a 10% correction, writes Steven Russolollo. It's just the 6th time this has happened since 1962, according to Birinyi Associates, and in each of the other 5 instances, the S&P averaged a 9.2% gain over the next 6 months, and 13% over the ensuing year.
    | Feb. 25, 2013, 1:06 PM | 4 Comments
  • Feb. 20, 2013, 7:34 AM

    Guggenheim announces it will shutter 9 ETFs "in order to focus resources on products that have demonstrated greater marketplace demand." Final day of trading to be March 15 with liquidation expected to be "on or around" March 22. The affected funds (with direct competitors in parentheses) are: ABCS (SDIV, VYM), EWEF, EWMD, EWSM, FAA, RSU (SSO), RSW (SDS), WFVK and WXSP. (PR)

    | Feb. 20, 2013, 7:34 AM | 13 Comments
  • Feb. 8, 2013, 10:11 AM
    Soaring optimism from investment newsletter writers means losses ahead for stocks, writes Jason Goepfert. Going back to 2000, there have been 9 other times when sentiment rose to these levels, he says, and in each of those cases the S&P was lower a month later, with the median loss 3.1%. In 8 out of 9 cases, the S&P was lower 6 months later, with the median loss 4.25%.
    | Feb. 8, 2013, 10:11 AM | 3 Comments
  • Jan. 29, 2013, 7:52 PM

    Barclays announced automatic closure of the leveraged ETN BXDC, which is linked to the inverse performance of the S&P 500. The securities are being redeemed as the result of a stop loss termination event occurring on Jan. 4.

    | Jan. 29, 2013, 7:52 PM
  • Jan. 28, 2013, 7:27 AM

    "The bears are gone, extinct, vanished," writes John Hussman, with the only ones remaining being permabears or nutcases. "And yet, the historical evidence for major defensiveness has rarely been stronger." Capitulation is everywhere, he says, with even Alan Abelson telling investors to let profits run until stocks start to go the other way.

    | Jan. 28, 2013, 7:27 AM | 6 Comments
  • Jan. 23, 2013, 6:58 AM
    Nearly 80% of the individual stocks in the S&P 500 are overbought, according to Bespoke. Looking at a 5-year chart, the group notes this indicator is as mean-reverting as it gets. High levels of overbought stocks tend to move to low levels rather quickly.
    | Jan. 23, 2013, 6:58 AM | 4 Comments
  • Jan. 22, 2013, 11:27 AM
    "It's as good as it gets in the U.S.," a wildly bullish David Tepper tells Bloomberg. "This country is on the verge of an explosion of greatness." Be long the "risk things," he says, and avoid Treasurys, the Swiss franc, and the yen. He's as blunt as ever: "I'd rather work at McDonald's than the sell side."
    | Jan. 22, 2013, 11:27 AM | 30 Comments
  • Jan. 11, 2013, 1:30 PM
    More on equity fund inflows: Extreme moves such as what's been seen early in 2013 are somewhat rare (graph) and often a good contrarian indicator for what the market might do over the following 3 months. The evidence, however, remains mixed, says Nomura's Mark Diver, as other indicators he follows are not flashing such bearish signals.
    | Jan. 11, 2013, 1:30 PM | 9 Comments
  • Jan. 10, 2013, 2:47 PM
    The rally in the S&P should peak close to 1500 (2% above its current level), says Tom DeMark, calling for at least a 5.5% correction from that point. The well-followed technician has or has had the ear of some of the hedge fund world's biggest guns. He's currently basking in his Dec. 4 bottom call on China, since which the Shanghai Composite has risen 16%.
    | Jan. 10, 2013, 2:47 PM | 6 Comments
  • Jan. 9, 2013, 11:29 AM

    "Wake up Mr. Risk at 1328," writes State Street's "Mr. Risk" Fred Goodwin, calling 2013 "the year to be long volatility." Last year at this time, investors were focused on risks and assets were priced to match. Not now though, he says, expecting too much fiscal tightening in the U.S. and a re-emergence of the EU debt crisis.

    | Jan. 9, 2013, 11:29 AM | 3 Comments
  • Dec. 18, 2012, 12:51 PM

    More on the BAML fund manager survey: The tailwind of low equity exposure is over, with hedge funds taking their long stock bets to the highest level since August 2006. More: Just 12% of fund managers are overweight cash, the lowest level in 9 months. A net 11% see improving corporate profits next year, a 22 point swing from October, when 11% saw declines ahead. (PR)

    | Dec. 18, 2012, 12:51 PM | 4 Comments
  • Dec. 17, 2012, 10:55 AM

    More from Tepper: Pure trader, Tepper (video clips here) keeps things simple - we have an okay economy and the Fed promising to print $1T/year for at least the next 2 years. What else do you need? Unnoticed by much of the media (not here) is another central bank put - Mario Draghi has a rate cut already pocketed and ready to use when needed. "We could have Prince" (party like 1999).

    | Dec. 17, 2012, 10:55 AM | 3 Comments
  • Dec. 17, 2012, 8:36 AM
    David Tepper - who famously called the big post-QE2 bull market - is back on CNBC and very bullish again. The market has just a small bit of downside risk from these levels, he says, but a return to market multiples not seen since the 90s is the upside. All that's needed for ignition is a deal out of D.C.
    | Dec. 17, 2012, 8:36 AM | 12 Comments
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