SPY Plan
With S&P futures +41 handles I am shorting (very small) SPY ($SPY) at $766.76.
I plan to sell on a scale but with a wide berth.
Position: Short SPY VVS
S&P Dividend Yield
The S&P dividend yield is near an all-time low at 1.04% compared to an historical average of approximately 2%.
Dividends typically account for about thirty percent of the total annual returns for equities:
This likely portends lower aggregate annual returns for equities in the next decade.
Positions: None
Charting the Morning Percent Movers
Positions: None.
We’re Scooping Up Shares of a Chip Company and a Well Positioned Retailer
And we’re still keeping some dry powder on hand as we assess other opportunities.
Broadcom Strikes Back: 8 Key Items Shaping the Stock Market Friday
Flash August PMI data, waiting for Bessent, Ross Stores, and other headlines are moving the market this morning.
Chart of the Day
Position: None
Bitcoin’s Rise
This morning the price of bitcoin is up by more than $5,000 (+7%).
This means, to me, that the markets are increasingly a casino of speculation and gambling.
Caveat emptor — to all asset classes.
This likely ends badly… across-the-board.
Position: None
A Headwind to Stocks and Bonds
Position: None