VIX spot has fallen to the low teens again, familiar territory over the past 2 years. However, this drop in equity volatility has occurred this time around alongside higher volatility in most other financial markets, …
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Priceline has been in the doldrums for much of the past year. The stock was a bull market leader throughout 2009-2013, but has been missing from the leader board in 2014. Even with the Nasdaq’s rally …
Continue readingThe Russian stock ETF, RSX, is back near the lows of the past 3 years after the severe emerging market selloff of the past month. RSX is close to where we initiated a relief rally …
Continue readingIn the long run, equities are the best investment. That market adage has held true in the U.S. for the past century, as the U.S. stock market has offered positive returns on almost every rolling 20 …
Continue readingI’ll keep this short this morning. Yesterday I wrote of how I am often confounded by macro movements in currencies commodities and bonds (In Our Own World) and their effects on the U.S. equity markets (of …
Continue readingSince making a new all time high on July 24th, the S&P500 is down about 3.5% despite what has been some fairly good economic data here in the U.S., coupled with largely better-than-expected Q2 earnings. …
Continue readingSo what now? The S&P 500 index had its largest down week in 2 years, and the Euro Stoxx 50 index broke its 200 day moving average for the first time since late 2012. As …
Continue readingEmerging markets have outperformed developed markets since mid-March, a change in character after several years of severe underperformance. The headlines in emerging markets have improved in certain areas (India and China most notably), while headline risk …
Continue readingEarlier today, we closed our bullish play on Russian equities into the Crimea vote with RSX calls for a gain. The idea was that the news was already known to some extent and we doubted that …
Continue readingOn Friday we thought that sentiment towards Russian equities got a tad too pessimistic heading into the the weekend referendum on Crimea’s future. We wanted to play from the long side, but with defined risk. …
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