Tracking 21 Signals Across 10 of Our Investing Themes
Let’s scan through the headlines for the stories of the week that speak to our Pro Portfolio holdings.
Charting 2 Small-Cap Furniture Names in Search of a Buy
Haverty Furniture, with its bullish chart, solid balance sheet, and 5.38% dividend yield, is a buy.
Weekly Roundup: Peace Deal, Warsh Arrives, and the Portfolio Moves Ahead
We closed three positions, began a new one, and added to two others. Plus, we look ahead to the potentially most impactful earnings report next week.
Thursday’s After-Hours Advancers and Decliners
After-Hours % Advancers
After-Hours % Decliners
Position: None
Thursday’s Closing Market Numbers
Closing Volume
– NYSE volume 52% above its one-month average
– NASDAQ volume 55% above its one-month average
– VIX index : down 10.95% to 16.42
Breadth
S&P 500 Sectors
% Movers
Nasdaq 100 Heat Map
Closing S&P 500 Heat Map
Position: None
Chips Drive a Rebound After the Fed Selloff
The market bounced back from a Fed-induced sell-off on Thursday, but it was news about an Apple price hike that drove most of the strength.
Constructive Criticism Welcome — Now Let’s Enjoy the Weekend
Thanks for reading my Diary today, all week and since 1998!
I hope you have benefited from my output over the last four trading sessions.
As I write, “I am often wrong and always in doubt.”
While I very occasionally have disagreements with some subscribers — as I did this week — I try my best in the Diary to not only to deliver hard-hitting analysis and views but to explain why I differ with those that are critical (as I did today and yesterday).
I always feel an obligation to defend myself. But after a while if the same criticisms are made ad nauseum — that criticism is not defensible (in my view). I have a lot on my plate professionally and personally and at some point, that sort of debate is too time consumptive for me.
I have absolutely no problem with constructive criticism from subs, contributors or anyone else. However, like anyone else I have my “red lines” and I have my own personal definition of what constitutes an ad hominem attack. Those in disagreement with me obviously see things differently — which is fine with me and is certainly their prerogative.
Finally, under no circumstance I will never ask our editors to block the comments of any sub as it is their privilege and right to discuss their own views. Nonetheless, I simply will not interface with what I consider objectionable behavior in the Comments Section or elsewhere.
Enjoy the weekend.
Be safe.
The Reversal in Financials (Part Deux)
The “reversal” in financials continues:
* JPMorgan ($JPM) -$5.30 after being +$6. Wally Deemer confirmed to me a possible downside day if things stay the same
* Short Morgan Stanley ($MS) is about even on the day after being +$5 in the early going (added $228.47)
* Short Goldman Sachs ($GS) is +$4 after being +$26 (added at $1,119)
* American Express ($AXP) -$2 after being +$7
And so on and so forth…
Position: Short GS (VS), MS (VS)
Looking Down the Fairway
Given the dominance of machines I have given the market a fairly wide berth in shorting this rally today.
I have steadily but slowly increased my index shorts.
Looking forward to the long weekend and the U.S. Open!
Position: None