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Finance 0
S&P 500 Snapshot: Index Goes Nowhere
Despite a the jump in jobless claims, the S&P 500 rallied to its 0.46% intraday high five minutes after the open and then sold off steadily to its -0.55% intraday low at the beginning of the lunch hour. An afternoon rally took the index back into the green, but selling in the final hour took the index a couple of ticks below the flat line to its -0.02% close. After yesterday’s -4.44% plunge in the retail ETF XRT( which lost another 0.26%), retail remained in focus today with Apple taking a -2.37% dive to its lowest level since June 2014. This comes in advance of tomorrow’s release of the Census Bureau’s report on April ... -
Finance 0
Very Anemic Stocks Action
“Don’t let what you cannot do interfere with what you can do.” –John R. Wooden Another choppy day as we go nowhere fast with earning nothing to write home about and markets seemingly on summer vacation already. I’m back to an all cash position after being stopped out of FB for a tiny loss but if it tried to go again I may give it another shot. SPY still looks to want to test the 210 resistance level very soon but from there I’m not sure if it can continue higher with earnings as poor as they’ve been this earnings season. The monthly charts are not looking so hot at the moment but wilder things have happened.... -
Finance 0
Hedge Funds – Misunderstood, But Still Not Worth It
Cliff Asness has a wonderful new piece on Bloomberg View discussing hedge funds. He basically argues that: Hedge fund criticism has been unfair largely due to false benchmarking. Hedge funds should hedge more. Hedge funds should charge lower fees. These are fair and balanced statements. And they’re worth exploring a bit more. The first point is dead on. The media loves to compare everything to the S&P 500 which is ridiculous. The S&P 500 is a domestic slice of 500 companies in a global sea of millions of companies. It neither represents “the stock market”, the “global stock market” nor anything remotely close to “the fi... -
Finance 0
Shake Shack Inc Surges After Classic Beat-And-Raise
Shake Shack (SHAK) released its first quarter earnings results after closing bell tonight, posting adjusted earnings of 8 cents per share or $2.8 million, a 114.4% year over year increase, on $54.2 million in revenue. Analysts had been expecting earnings of 5 cents per share on $52.06 million in revenue. In last year’s first quarter, the fast casual dining chain posted adjusted earnings of 4 cents per share or $1.3 million on $37.8 million in revenue. Shake Shack swings to profit On a GAAP basis, Shake Shack swung to a profit of 7 cents per share or $1.5 million from last year’s losses of $1.06 per share or $12.7 million. Shack sales c... -
Finance 0
Chaos Spreads To US Retailers And Italian Banks
Macy’s (M) reports horrendous earnings and Italian banks finally reveal their non-performing loans. Share prices plunge accordingly. China, meanwhile, admits that it’s over-leveraged and promises to stop borrowing. In other words, wherever you look, a global slowdown is coming and a massive currency devaluation will soon be the only politically feasible solution.... -
Finance 0
Chaos Spreads To US Retailers And Italian Banks
Macy’s (M) reports horrendous earnings and Italian banks finally reveal their non-performing loans. Share prices plunge accordingly. China, meanwhile, admits that it’s over-leveraged and promises to stop borrowing. In other words, wherever you look, a global slowdown is coming and a massive currency devaluation will soon be the only politically feasible solution.... -
Finance 0
The Real Oil Limits Story; What Other Researchers Missed
For a long time, a common assumption has been that the world will eventually “run out” of oil and other non-renewable resources. Instead, we seem to be running into surpluses and low prices. What is going on that was missed by M. King Hubbert, Harold Hotelling, and by the popular understanding of supply and demand? The underlying assumption in these models is that scarcity would appear before the final cut off of consumption. Hubbert looked at the situation from a geologist’s point of view in the 1950s to 1980s, without an understanding of the extent to which geological availability could change with higher price and improved technolog... -
Finance 0
Ritchie Bros. Auctioneers – Chart Of The Day
The Chart of the Day belongs to Ritchie Bros. Auctioneers (NYSE:RBA). I found the vehicle auctioneering stock by using Barchart to sort today’s All Time High list first for the highest frequency of new highs in the last month then again for technical buy signals of 80% of better. Next I used the Trend Spotter to review the charts for consistency. Since the Trend Spotter signaled a buy on 2/18 the stock gained 33.57%. Ritchie Bros. Auctioneers conduct unreserved public auctions every year at locations throughout North and Central America, Europe, Asia, Australia, Africa and the Middle East. The company is known for their innovative... -
Finance 0
When To Take Social Security; Still Complicated
Yahoo Finance ran an article titled How To Delay Taking Social Security Benefits Until You Absolutely Have To. This sort of thing is always of interest and the article had a couple of interesting even if not original ideas. The starting point is the author’s belief that waiting to take Social Security until age 70 (or FRA for someone taking spousal benefits) is the best thing to do because waiting until age 70 results in a larger payout. This line of thinking always brings out the conspiracy people that believe that the media supports the government’s desire for people to wait longer to stave off insolvency or otherwise save the governme... -
Finance 0
E Pros And Cons Of Blockchain Digitalization Of Dollars
There are pros and cons of blockchain digitalization of dollars. We already learned from Bloomberg and from Michael Snyder about a secret meeting of bankers with the startup Chain.com. The digitalization of money for purposes of transfers is the goal of the technology and of the meeting which was not so secret that no one could find out about it. So, let me get right to the point. Currency is fungible. That means a dollar is a dollar, whether it is in one place or another, whether it is digitalized or a physical dollar. Blockchain is a method of transferring dollars. Dollars can be identified by an asset ID as the Chain’s website shows ...
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