“Never risk what you have and need for what you don’t have and don’t need.” Warren Buffett Very nice action from stocks today as many put in a swing low, which is good for a quick swing trade. We’re still in the dog days of summer but there are some swing trades available. I think I’ll take the rest of the week off and head off to Quebec on the motorcycle so, I’ll have something out next Tuesday. May as well hit the road with market choppy and quiet. SPY is bouncing well now and should move up to the 147 area to put a lower high in place over the next day or two. More downside is likely over the next couple of months but during ...
Salesforce Q2 F2018 earnings were released after closing bell tonight, and the company reported non-GAAP earnings of 33 cents per share on $2.56 billion in revenue. Analysts had been expecting 32 cents per share in non-GAAP earnings on $2.52 billion in revenue. In May, Salesforce.com, inc. (NYSE:CRM) management guided for non-GAAP earnings of 31 cents to 32 cents per share on $2.51 billion to $2.52 billion in revenue. In the second quarter of fiscal 2017, the company reported 24 cents per share in earnings on $2.04 billion in revenue. Image source: Pixabay Salesforce Q2 F2018 earnings On a GAAP basis, the company reported earnings of 2 ...
The American banking system had been primarily a domestic one throughout its early development. Despite, or because of, the rapid growth in the later 19th century, banking was orientated almost entirely inward to finance the needs of that growth. But as a growing national as well as industrial power, the US adopted several measures early in the 20th century to entice domestic institutions into the foreign money trade. One of the first tasks of the new Federal Reserve central bank was to encourage a US dollar bankers’ acceptance market. Acceptances were a form of international money instrument, sort of a cashier’s check denominated in a co...
Video length: 00:00:20 Thanks to The White House saying something de minimus about Tax Reform progress (and a little help from Boeing after Trump’s warmongery), Nasdaq was the day’s best-performer as The Dow had its best day in 4 months… Futures show the driver of the actions… Bonds & Bullion were sold post-tax-headline as stocks surged… Most-Shorted stocks surged/squeezed to their best day in a month (after 5 straight down days)… VIX was smashed down below 12 at the open amid Trump Tax chatter… The S&P ramped all the way to the 50DMA (having bounced perfectly off the 100DMA yesterday)… ...
The bullish percents ticked higher today, but so far it isn’t a convincing move. Look for follow through. Note to self… we are approaching the low-volume, late-August period where so many people on vacation. So I am not sure it is a good time to be watching stocks closely. It’s a good time to take a break from this obsession. The Leader List The leaders are listed below in blue and green. The S&P 500 is the benchmark. Mexico has joined the leaders. Mexico looks good. Here is the weekly chart, and the ETF is trading right under an important resistance level. If it breaks higher then it will be an important technical signa...
In this video we look at The US Dollar Index and work through the theory that this could be just a bull market correction. The video walks through a couple of slides of a recent edition of the Weekly Macro Themes report. We look at three sets of charts: 1. Sentiment and Technicals: which show the market moving from overbought to oversold and a crowded long to net shorts; 2. Valuations and Yield support (fundamentals): which show it moving to slightly undervalued and still with significant yield support; and 3. Economics and Monetary Policy: we show the US economy is basically running at full employment and this presents real potential upside...
from the American Chemistry Council The Chemical Activity Barometer (CAB) remained unchanged from July, continuing a modest deceleration of growth. The flat reading follows a 0.1 percent increase in July and a flat reading in June. Compared to a year earlier, the CAB is up 3.2 percent year-over-year, an easing from recent year-over-year gains. All data is measured on a three-month moving average (3MMA). On a year-over-year basis, the unadjusted CAB is up 3.0 percent, also an easing from the previous six months. The Chemical Activity Barometer has four primary components, each consisting of a variety of indicators: 1) production; 2) equity pr...
Below is the second and final part of my exclusive interview with distinguished financial writer Alex Green of the Oxford Club and Investment U. You can read the first part by clicking here. Do you look at cycles? The thing about cycles is they’re so obvious when you’re looking in the rearview mirror. “This cycle peaked here, this one peaked there.” It’s difficult, though, when you’re looking forward. There’s nothing but a blank slate ahead of you to know when these cycles are going to start and when they’re going to end. So I’m not a great analyzer of cycles—I’ve never really met anybody who is—but you can learn a lot...
Interest rates are difficult to forecast. Many analysts build complex models. They factor in unemployment and other economic variables. But economic data is always months old by the time it’s released. And after release, it’s revised multiple times. It’s impossible to know what the economy is doing in real time. However, market data is an alternative to economic data. One advantage is that market data is immediately available. And market data is never revised. I think it’s best to use market data when possible. I do this with interest rates. And, as you’ll see, my market-based forecast is bearish for the economy. It’s also bad new...