Gold and Gold mining stocks have been left out of the rally in just about every other risk asset on the planet since early November. While materials and mining stocks (measured by the XLB, the …
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The S&P 500 (SPX) clawed back a good bit of its early 1% losses by days end. One noticeable theme in today’s trading was options traders rolling existing positions: GS: bank stocks under-performed the broad market most of the day, with …
Continue readingNext week large components of the XLB, the Materials Select etf Dow Chemical (DOW) and Dupont (DD) report Q2 results. These two stocks make up 20% of the etf’s weight, which is why decent size …
Continue readingAs Dan discussed earlier, U.S. stocks are are a fairly interesting spot, either back and filling a bit for a push to prior highs, or merely a series of lower highs that he believes to be …
Continue readingYou know the drill, just as I described in my prior post on XLB, I was early, and early equals wrong, but I remain convicted and want to roll out some recently placed bearish views. …
Continue readingOn February 19th I detailed my bearish view on material stocks which had a massive bounce off of their recent lows (read here). Some thoughts from my prior post: In the near term I suspect …
Continue readingIn case you missed it, I am not a buyer of stocks after the 8% rally in the S&P 500 (SPX) from its 52 week lows made Feb 11th. Regular readers know that I feel quite …
Continue readingYou may have noticed a trend in some of our trading lately, buying outright puts near what we feel are inflection points adter market bounces/rallies and not spreading them right away, but rather waiting to …
Continue readingEarlier in my MorningWord (Seeing the Forest For the Trees) I tried to explain why the relative out-performance in defensive stocks and sectors like U.S. telco, utilities, consumer staples and sectors like energy and materials (that …
Continue readingOptions volumes were relatively light even with the pop in the VIX on the market selloff. Commodity-related ETFs had the most active options activity. 1. XLE – XLE closed just above its 200 day ma, the …
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