Does the business cycle matter? The Great Moderation from 1982 – 2007 was used as evidence by economists that “We’ve Figured it Out” when it comes to economic management. In hindsight, that was just piling …
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MorningWord 9/25/12: Overnight Asian and European markets closed practically flat for most major indices. A veritable calm has taken over world equity markets, as our futures are pointed 4 points higher as I write, continuing global …
Continue readingLEN reported better than expected results on most metrics, the stock was intitally trading up over 3% pre-market prior to the conference call. The stock is now trading down about 2.25%, which for now is …
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MorningWord 9/24/12: Back in late Spring, one of the many inputs to our bearish thesis, from a purely a technical standpoint, was the lack of breadth in the broad market as we approached new 52 …
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MorningWord 9/21/12: Overnight equity markets continue their relative calm. Asian markets were flat to up (Hang Seng up 70bps, Shanghai flat and Nikkei up 25bps), while European markets are up across the board as rumors …
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MorningWord 9/20/12: Every morning I start my day by reading a dozen or so of Bloomberg’s top stories, then I move on to WSJ.com and eventually start trolling the Twittersphere and a gaggle of Blogs …
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MorningWord 9/19/12: The iPhone6, I mean iPhone5 reviews are out and as expected they are spectacular (Mossberg here &Pogue here). Both of these guys do their best to not just boil over with excitement for the new …
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What is the underlying earnings power of S&P 500 companies? Clearly, the market has ratcheted up its expectations for that earnings power in the past 3 months. The market’s 15% rally speaks to that. While …
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MorningWord 9/18/12: After the excitement of the summer of 2011 (excitement = extreme volatility) many market participants expected a redux in the summer of 2012 given the EuroZone’s apparent continued inability to halt their Sovereign debt crisis. But …
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The most memorable events in the career of a trader are due to surprise events. Especially for an options trader. I have many trading days etched into my mind because of a surprise after-hours announcement …
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