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Oil Falls Back To $30 And BP Leads Europe Lower
Ted Cruz won Iowa. That is the scariest thing I have to say this morning. The Koch-powered Conservative is the GOP’s leading Climate denier and, if he becomes President of the United States, you can pretty much guarantee he’ll put a stop to the agreements we made in Paris last year to work with the rest of the World to help stop Global Warming – especially as it’s projected to be a $12Tn effort over 25 years on our part. Of course, many (almost all) scientists would argue that a failure to do this will lead to the extinction of the Human Race but that’s considered a win for Cruz’s Father’s minis... -
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PMI Convergence
The Chinese Manufacturing PMI spent most of the past four and a half years straddling just the good side of 50. In fact, it hasn’t been above 52 since early 2012 – a quite remarkable feat of low variation. This fruitlessness is somewhat emblematic of China’s dilemma; no matter what they do the industrial and manufacturing sector will not catch fire. And that may be the best that can be said of the monetary and fiscal “stimulus” since that time, for at least the bedrock of China’s economy was maintained in something like zombification for so long. Of course, it took great cost in bubble and debt terms to accomplish so little, but I... -
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Short Setups To Consider Now
It’s quickly getting ugly again with the market already posting losses of over 1% and quickly approaching 2%. With an evening star candle pattern forming on SPX and much of Friday’s candle already being lost on SPY, the bears are starting to reload their short positions. I’ve also added a couple myself, and you can get my full watch-list below and as you see fit, adding a few short candidates to your portfolio. Just know the risks that come with shorting stocks and plan your risk strategy accordingly. Here’s my list of short setups:... -
Finance 0
The Numbers Are In: Hedge Funds Furiously Dumped The Rally; Selling Was “Biggest In Nearly Two Years”
As we wrote yesterday when reviewing the latest note from JPM’s Mislav Matejka, according to the JPM strategist not only had the window to buy stocks into the torrid S&P500 rebound closed, but traders should “start fading it within days” as JPM stuck “to the overriding view that one should use any strength as an opportunity to reduce equity allocation.” Today, when reading the latest report by BofA’s equity and quant strategy team looking at what the “smart money” – institutions, hedge funds and private clients – are doing, we find that JPM’s advice was heeded, and the ... -
Finance 0
Dow Chemical’s Q4 Earnings & Sales Top Estimates
Dow Chemical (DOW – Analyst Report) is the biggest U.S. chemical maker by sales, offering a vast range of chemical, plastic and agricultural products and services. As the company’s products are used in almost every industry, its results put a spotlight on end market scenario and demand trends for chemical products across a bevy of industries. Dow is leveraging its North American feedstock advantage and is investing billions of dollars for setting up crackers that produces ethylene from ethane. The company is also aggressively pursuing its productivity and growth actions as well as its cost-reduction initiatives. Moreover, Dow conti... -
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S&P 500 And Nasdaq 100 Forecast – February 2, 2016
S&P 500 The S&P 500 went back and forth during the course of the session on Monday, as the 1940 level offered resistance, but we did see a bit of support in 1920. I think at this point in time the most important thing to pay attention to is the 1950 level. If we can get above there the market will be free to go much higher, probably the 2000 region. In fact, that’s kind of what I’m waiting to see, but I also recognize that if we do get a significant pullback again and see signs of support, we would start going long at that point. I have no interest in shorting this market at the moment, at least not until we get below the massive ... -
Finance 0
Stifel Warns Twitter May Go Way Of Tech Busts, Cuts To Sell
Twitter (TWTR) is giving up nearly all of yesterday’s gains after Fortune and The Wall Street Journal poured cold water on a report that private equity firm Silver Lake might be considering making a strategic investment in the company. Additionally weighing on the stock are a Business Insider report claiming that the number of tweets has declined by more than 50% in the last 18 months and research firm Stifel downgrading the stock to Sell. What’s new: Yesterday morning, tech website The Information reported that venture capitalist Marc Andreessen and private equity firm Silver Lake have considered making a deal involving Twitter. ... -
Finance 0
Archer Daniels Posts Dismal Q4 Earnings & Sales
Archer Daniels Midland Company (ADM – Analyst Report), a leading player in the global food processing industry, released fourth-quarter 2015 results, wherein adjusted earnings of 61 cents a share came way below the Zacks Consensus Estimate of 65 cents and plunged 39% from $1.00 a share earned in the year-ago quarter. Earnings Estimate Revision: The Zacks Consensus 2016 Estimate portrays a downtrend in the last 30 days. Moreover, Archer Daniels’ performance in the trailing four quarters (excluding the quarter under review) gives a negative picture, with an average surprise of -5.2%. Revenues: Archer Daniels generated net sales of ... -
Finance 0
FTSE 100 Slides As BP Reports A Loss Of £6.5bn
FTSE 100 Slides As BP (BP) Reports A Loss of £6.5bn The FTSE 100 has given up 76.4% of its latest bull leg from Thursday’s low of 5886, as crude oil slides and BP reports a loss of £6.5bn, its worst annual loss in 20 years. While the FTSE 100 is lower over the last two days the overall trend is still bullish above Thursday’s low of 5886 and it makes little sense to turn bearish at current levels. Price needs to break 5886 for the trend to turn bearish. In this case the FTSE 100 might reach the January 26 low of 5773. We note the market is no longer overbought in relation to commodities and the DAX, something it was when trading a... -
Finance 0
5 Financial Pitfalls To Avoid
The myriad of financial deceptions that exist today can trap even the most money savvy. Unfortunately, these traps loom at every turn and are often well disguised causing one to become entangled in a mess of wasteful spending. Remaining mindful of spending habits down to each and every last dollar spent helps keep your long term goals in perspective and avoid a sabotage of your financial well being. Avoid the following financial traps to ensure your financial future and keep your wallet full. Borrowing from Savings – Borrowing from your savings account with the intention of repaying at a later is a dangerous habit. This can become quite co...
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