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Friday, April 26, 6:57 AM
S&P 500 (SPY) futures slide 0.3%, Nasdaq 100 (QQQ) -0.3% ahead of this morning's first look at Q1 GDP. Europe's off about 1% across the board, though Japan managed to post a minor gain even as the BOJ offered no new candy at its policy meeting.
3 Comments
Thursday, April 25, 3:59 PM
Not really news, but good enough to knock stocks (DIA, SPY, QQQ) well of their highs in the last hour is the Bundesbank - in a filing to Germany's high court - signaling its displeasure with the ECB's Outright Monetary Transactions. OMT hasn't been used yet, but was put in place by the central bank last year to - if necessary - buy the debt of peripheral countries.
1 Comment[Global & FX]
Thursday, April 25, 3:02 PM
Stocks ease off gains an hour before the bell, the Dow (DIA +0.3%) boosted by financials and tech, but dragged by 3M and Exxon after their earnings disappointed. The S&P (SPY +0.5%) and the Nasdaq (QQQ +0.5%) fare better.
2 Comments
Thursday, April 25, 8:35 AM
S&P 500 (SPY) futures extend gains, +0.5% after jobless claims fall to their lowest level in 6 weeks. Nasdaq 100 (QQQ) +0.7%. The 4-week moving average fell 4.5K to 357.5K.
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Wednesday, April 24, 10:10 AMTurning 10 this week, the Guggenheim S&P 500 Equal Weight ETF (RSP) has outperformed the SPY by 5,900 basis points since its launch. The RSP was one of the pioneers of equal-weighting - created in the aftermath of the 2000 bust to give investors exposure to stocks without so high a focus on large caps (the so-called "Cisco effect"). It's time for a renaming to the "Apple effect" as QQQE - the Nasdaq 100 Equal Weighted ETF - has outperformed the QQQ by 850 bps YTD.
3 Comments
Wednesday, April 24, 6:54 AM
S&P 500 (SPY) futures +0.15% following yesterday's big rally here and especially across the pond. Europe tacks on more gains, the Stoxx 50 +0.4% as momentum continues to build for an ECB rate cut next week. Apple is lower by 0.75%, erasing gains in the 5% area after the earnings and its plan to take on debt to return cash to shareholders. Nasdaq 100 (QQQ) futures +0.2%.
5 Comments
Tuesday, April 23, 5:52 PM
The SEC will give a closer look to the "bogus" tweet from the AP that (for four minutes) interrupted today's stock rally by forcing a near-1% drop in the S&P 500 (SPY). Commissioner Dan Gallagher says a review of today's action will help evaluate the effectiveness of measures introduced after the "Flash Crash" of May 2010.
3 Comments[U.S. Economy]
Tuesday, April 23, 10:27 AM
Stocks continue higher, SPY +0.9% as Europe soars (FEZ +2%) following economic data (there, here, and in China) that on balance was pretty weak. Leading the gains in the states is the banking sector - XLF +1.3% - following a big upgrade for Bank of America (up 3%).
2 Comments
Tuesday, April 23, 9:09 AM
More on the big Flash PMI miss: It's the largest monthly decline since June 2010, "raising concerns that the U.S. manufacturing expansion is losing momentum rapidly," says Markit. "With backlogs of work falling at one of the fastest rates since the height of the financial crisis, firms will also look to cut headcounts soon." S&P 500 (SPY) futures back off earlier gains, now +0.35%.
3 Comments[U.S. Economy]
Monday, April 22, 11:08 AM
"When the cover of a major financial magazine features a cartoon of a bull leaping through the air on a pogo stick, it's probably about time to cash in the chips," writes John Hussman, commenting on Saturday's Barron's cover. Ryan Detrick notes the Barron's big money poll was decidedly more bearish 6 months and 1,000 Dow (DIA) points ago.
5 Comments
Friday, April 19, 7:06 AM
S&P 500 (SPY) futures +0.7% and Nasdaq 100 (QQQ) +0.6% following well-received earnings reports from Google and Microsoft, but not-so-hot numbers from IBM. Sizable rallies in Asia and Europe help as well. Shanghai +2.2%, Stoxx 50 +1.2%.
1 Comment
Thursday, April 18, 9:03 AM
After dropping to the lowest level since March 2009 last week, bulls gain 7.5 points to 26.8% in the AAII Investor Sentiment Survey. The long-term average of bulls is 39%. Those bearish drop 6.3 points to 48.2% - still well above the long-term average of 30.5%. From Bespoke is this chart of the SPY vs. the AAII bulls since 2009.
3 Comments
Thursday, April 18, 6:57 AM
S&P 500 (SPY) +0.35%, Nasdaq 100 (QQQ) +0.4% following yesterday's ugly session, with the two downside leaders - Apple and BofA - up marginally in the premarket. Helping is a moderate rally in Europe, which has really struggled of late - Germany's DAX's bad string has returned it to flat for the year.
2 Comments
Wednesday, April 17, 7:22 AM
Futures post sizable losses - the S&P 500 (SPY) -0.7% and Nasdaq 100 (QQQ) -0.8% - as Europe fails to participate in a fairly broad global rally, the Stoxx 50 (FEZ) off 1.3%. Also not helping are Bank of America and Yahoo down more than 2% following earnings.
6 Comments
Tuesday, April 16, 8:57 AM
Stocks are "far from the overextended levels that prevailed at the prior peaks," says BAML, comparing the S&P 500 (SPY) today to March 2000 and October 2007. Earnings and dividend yields today are far higher; PE ratios, Price/Book, EV/EBITDA are all lower. "Third time a charm?"
1 Comment
Tuesday, April 16, 7:05 AM
S&P 500 (SPY) futures show at least an early bounce from yesterday's sorry action, +0.5%. Nasdaq 100 (QQQ) +0.6%.
1 Comment
Quoth the Raven Loading gold and silver while they're cheap and unappreciated. I'll be thanking myself in the next bear market, coming soon. $GLD $SLV $SPY
Quoth the Raven Bernanke - hike up your skirt, grab your balls and drop the hammer tomorrow! I'm loaded $SLV and $VXX and I'm tired of 0% interest.. $SPY
Tue, 7:58 PM
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Agbug: Just my guess, but was that why the raid on PMs Sunday night. Unwind the shorts in advance????? We shall see.
O. Young Kwon <$BND $VTI $SPY $TIP $VWO $PHB> The Daily Market Condition (DMC) (5/21/2013) updates A NEW Market Condition Monitor with Two Indicators:<c>
Quoth the Raven All eyes on Amarin after hours...what will the next chapter in the Amarin story be? $AMRN $SPY
May 9, 2:46 PM
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joe kelly: Men will argue the benefits of fish oil.
May 9, 2:56 PM
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O. Young Kwon <$BND $VTI $SPY $TIP $VWO $PHB> The Daily Market Condition [DMC] (5/9/2013) updates A NEW Market Condition Monitor with Two Indicators:<c>
John Cofran 39.3% Annualized Return YTD with 50% market exposure. Compare that to $SPY YTD annualized return of 38.1% with 100% exposure. That's Alpha.
May 8, 11:43 AM
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neobliviscar: Cofran, are you listed in any of the fund databases? Searched big3. I'd like to see more, but no website to visit.
Mercy Jimenez: x oil-field thx 4 first link - it was excellent! My strategy differs but my analysis is in synch; sitting on 95% cash 4summer and lovin it.
May 7, 10:18 AM
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x oil -field: @Mercy Mr.Joseph Stuber has ~ gives a very articulate honest perspective on the market(s) I believe.JMHO