The homebuilder Lennar Corp (LEN) is scheduled to report fiscal Q4 results tomorrow morning before the open. The options market is implying about a 4.3% one day move, which is rich to the 4 qtr …
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As we near the Federal Reserve’s last FOMC meeting of the year next Wednesday, the Fed Fund futures are implying about a 72% change that the committee will vote to raise interest rates for the …
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Yesterday in this space I posted a chart of the S&P 500 (SPX) which, without being able to draw an intelligent conclusion, highlighted an occurrence in Wednesday’s trading that had not happened since mid August: Yesterday (Wednesday …
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The November jobs data just put the final nail in the coffin for the Fed to lift fed funds rate in December for the first time since June 2006. The yield on the ten year …
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Since the start of QE and ZIRP, Don’t fight the Fed has been one of the most profitable consensus US equity trades of the last fifty years. In the last year, the Fed has ended …
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Since Friday morning’s September jobs data the S&P 500 futures are up about 3% (including this morning’s 70 bps gains) as investors celebrate unexpectedly bad economic data. This morning, European equities are ripping (the Euro …
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There seems to be a growing chorus of market participants and pundits (including moi) that the S&P 500 (SPX) will not only soon break the August 24th panic low of 1867, but also retest the …
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If you thought there were a lot of rosy outcomes for U.S. stocks no matter what the Fed did (or ultimately didn’t do) yesterday, then your investment framework is one of recent years, not of …
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There is only one word that comes to mind when I see a day chart like this of the Shanghai Composite – Manipulation: An easy retort would be, so what? The powers that be in …
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It’s difficult to assign exact blame for the volatility we’ve seen in U.S. stocks. There are several factors you’ll hear, most often the FOMC’s impending exit of ZIRP, falling commodity prices and the rise and …
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