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SPY
SPDR S&P 500 Trust ETF - NYSEARCA

7/10/2014, 2:16 AM ET
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  • Why I Don't Like To Buy S&P 500 Puts As 'Insurance' - A Rebuttal
    Jason Russ Tue, Jul. 8 14 Comments

    Summary

    • Buying S&P 500 put options are a popular way to hedge a portfolio.
    • A recent Seeking Alpha article endorsed the strategy.
    • I believe that buying SPY puts is a bad idea for most investors. I will run through some scenarios that show it to be a weak strategy.
  • Warning! The Fed Could Kill Stocks This Week
    Markos Kaminis Tue, Jul. 8 23 Comments

    Summary

    • Stocks have enjoyed quite the run over the past twelve months, with the SPDR S&P 500 (SPY) up 21.2%.
    • However, a new macro factor is pending incorporation into investment analysis, and it is rising interest rates.
    • Fed views vary as to the optimal time to raise rates, but the discussion is intensifying. This week, several opportunities exist for the bad news to get more potent.
  • Market Timing With The RPF Model: Spot Opportunities, Stay The Course, Avoid Mistakes
    Steve Hassett Mon, Jul. 7 14 Comments

    Summary

    • Proceed with caution. Market timing is risky, but the RPF Model can help spot rare opportunities.
    • Spot the truly rare event. The bubbles and opportunities in 1987, 2000 and 2009 – 2013 could be seen with the RPF Model.
    • Do no harm. Knowing whether the market is valued fairly can provide resolve to stay the course during troubled times. Often the best action is no action.
  • Shiller's CAPE Data Suggest S&P 3,500 In 5 Years
    Tom Armistead Sun, Jul. 6 34 Comments

    Summary

    • CAPE on the S&P 500 has historically had a paradoxical relation to 10 year Treasury Yields.
    • When the 10 year yields less than 5%, CAPE increases as the yield rises.
    • When the 10 year yields more than 5%, CAPE decreases as the yield rises.
    • When the 10 year hits 5%, the most likely CAPE is 33, implying a substantial increase in the index.
  • SPY And U.S. Economic Index Behaviors Diverge In June
    J.J. McGrath Fri, Jul. 4 22 Comments

    Summary

    • SPY and my U.S. Economic Index moved in different directions in June for the first time in four months. However, the divergence appears to be within historical parameters.
    • SPY hit another all-time-high monthly closing share price on an adjusted basis, as it rose to $195.72 from $191.76, an advance of $3.96, or 2.07 percent.
    • Meanwhile, my USEI, mainly founded on Institute for Supply Management figures, fell to 55.91 from 56.19, a decline of -0.27 point, or -0.49 percent.
  • The Fed Sounds The Regulatory Bell
    Edward Hoofnagle, CFA Thu, Jul. 3

    Summary

    • Fed reinforces view that social policy (employment) outweighs financial stability (markets).
    • Financial market makers beware! New limits and risk policies are on the horizon.
    • The "put option" is still in play.
  • NYSE Margin Debt Rises In May For First Time In 3 Months: Risk Rank At No. 21
    J.J. McGrath Tue, Jul. 1 11 Comments

    Summary

    • New York Stock Exchange margin debt inched upwardly to about $438.55 billion in May from about $437.16 billion in April, the exchange reported.
    • After reaching its record high around $465.72 billion in February, NYSE margin debt has dipped circa -$27.17 billion, or -5.83 percent.
    • The three-month decline in NYSE margin debt is the steepest since the SPDR S&P 500 ETF’s bear market in 2011.
  • A Surprise Recession?
    Michael A. Gayed, CFA Mon, Jun. 30 20 Comments

    Summary

    • Negative GDP among 25 worst in history.
    • European banks major source of risk.
    • Mutual funds and separate accounts went defensive last week.
  • Are We Crying Wolf Again? The Bear Is At Peter's Door This Time, So Raise Cash And Prepare To Protect
    Doc's Trading Wed, Jun. 25 116 Comments

    Summary

    • A picture is worth a thousand words: A perfect overlay of the 1929 chart.
    • Noteworthy current sentiment and factual statistics are underpinning potential weakness.
    • History will always repeat itself - differently.
  • SPY: What Could Derail The Rally?
    Richard Cox Mon, Jun. 23 18 Comments

    Summary

    • Market optimism reflected in record stock prices.
    • Wide variety of assets influenced by the bull market run in stocks.
    • Watch the Dollar for signs of underlying economic strength.
  • A Crude Awakening
    Michael A. Gayed, CFA Mon, Jun. 23 10 Comments

    Summary

    • Defensive sectors remain well bid despite new all-time highs.
    • Risk-on potentially switching to risk-off in weeks ahead.
    • Oil, combined with consumer weakness, is the elephant in the room.
  • When The S&P 500 Breaks A Record, Reduce Your ETF Portfolio Risk
    Gary Gordon Thu, Jun. 19 9 Comments

    Summary

    • The S&P 500 has traded above its 200-day moving average for 394 trading sessions. That has never occurred in the history of the heralded benchmark.
    • How long will the S&P 500 continue to defy the odds? Not much longer.
    • Late-stage bull markets often see a remarkable amount of complacency.
    • An astute ETF investor can prepare for eventual change by proactively managing portfolio risk. Embrace a barbell strategy. Seek out more attractive valuations. Even hedge with negatively correlated assets.
  • S&P Fairly Valued Because 'It's The Same This Time'
    Steve Hassett Wed, Jun. 18 18 Comments

    Summary

    • Room to grow. Despite the exceeding the post-war average for economic recoveries, U.S. employment has only just matched the previous peak.
    • Record highs are not rare and not indicative of a bubble. Since 1960, the S&P 500 Index has hit a new closing high over 800 times.
    • It's not different this time. The market has been valued based on the same predictable factors since at least 1960.
  • A Stock Correction For Misguided Perception?
    Michael A. Gayed, CFA Mon, Jun. 16 11 Comments

    Summary

    • Too much focus on return, too little on risk.
    • Oil could serve as catalyst for correction.
    • Defensive areas remain stubbornly strong.
  • Market Timing Report: Risk Soars As Bond Spreads Collapse
    Bradley Lamensdorf Mon, Jun. 16 51 Comments

    Summary

    • The spread between governments and junk bonds has narrowed to such an extreme extent that it has resulted in the biggest risk seen in 40 years.
    • While corrections in the stock market are always scary, the most serious corrections arrive when the fixed income market is also misbehaving.
    • Our position remains unchanged at 32.5% short.
  • Stock-Bull Topping Underway Looks Just Like 2007's Last One
    Adam Hamilton Fri, Jun. 13 46 Comments

    Summary

    • The US stock markets have experienced a steep low-volatility melt-up in the past year and a half or so.
    • Technically this matches the price action leading into the end of the last cyclical stock bull in 2007 perfectly.
    • This is a menacing portent, as stock bulls are followed by stock bears, which cut the headline indexes in half over a couple years or so.
  • Six Indicators To Confirm The Bear Market
    Owen Williams, CFA Fri, Jun. 13 51 Comments

    Summary

    • The U.S. equity rally slowly grinds higher, but on notably lower volume.
    • Although timing the absolute top has been challenging, risk/reward is clearly unfavorable at current levels.
    • We share the 6 indicators that we are watching that would cause us to raise cash in our portfolios.
  • Projecting The Forward Returns On The S&P 500 Index
    Jake Huneycutt Thu, Jun. 12 15 Comments

    Summary

    • Savvy investors focus on forward returns, rather than the past.
    • Forward returns on the S&P 500 over the next five years are likely to be in the 1% - 6% range, well below historical averages.
    • The S&P 500 appears to be moderately overvalued.
    • A 20% correction in the S&P 500 would be needed before hitting an expected 5-year forward return of 8%.
  • The Great Correction Of 2014? Don't Drink The Kool-Aid
    David Alton Clark Wed, Jun. 11 156 Comments

    Summary

    • There has been vast speculation by many that the day of reckoning for the rally in the S&P 500 is upon us.
    • I beg to differ my friends. Although a day of reckoning is inevitable, we are nowhere near that point.
    • In the following article I will explain why the markets remain fairly valued even though they are up significantly from the 2009 low.
  • S&P 500 Summer Forecast - Part I: Obstacles Cleared
    Markos Kaminis Tue, Jun. 10 11 Comments

    Summary

    • The first five months of 2014 were plagued by obstacles for the S&P 500 Index.
    • Capital flows, harsh winter weather, the Russian aggression and the Fed's fumble in forecasting the Fed Funds Rate all hampered the market's progress.
    • Each of these obstacles have now been overcome and some of them have turned into fuel, so the index and the ETF tracking it are now set to soar.
SPY vs. ETF Alternatives
SPY Description
The SPDR® S&P 500® ETF is a fund that, before expenses, generally corresponds to the price and yield performance of the S&P 500 Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
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Country: United States