A Bit of a Reversal in Futures
Last night’s futures market was strong:
Not so much now…
* S&P futures +7
* Nasdaq futures -41
Position: Short SPY (S), QQQ (S)
Value Investors Are (Justifiably) Upset and Ben Graham Is Rolling Over in His Grave
In a market dominated by algos and machines (who know everything about price but nothing about value) — buyers live higher and sellers live lower.
Case in point financials/banks:
Position: None
Timing a Bull Market (Over the Long Term)
Position: None
Feeling Like Deja Vu All Over Again
Position: None
Oscillator Slips From -5 Area
The S&P Short Range Oscillator has recently slipped from the -5 area. It is now -1.96% vs. -2.17% (in the prior day).
Friday’s shorts:
Dougie Kass
With S and P cash +53 handles, I am selling another tranche of Indices:
* SPY $779.22
* QQQ $752.61
Position: Short SPY (VS), QQQ (VS)
Friday’s After-Hours % Gainers, Decliners
Position: None
Friday’s Closing Market Data
Closing Volume
– NYSE volume 20% below its one-month average
– NASDAQ volume 16.5% below its one-month average
– VIX index: down 3.83% to 14.82
Breadth
S&P 500 Sectors
% Movers
Heat Maps
Position: None
Challenging the B.S.
I couldn’t help myself:
Position: None
A (Little) Deal With The Devil
The diesel supply agreement with Russia is a very very temporary respite (though a great headline and discussion point in the business media!!) to a difficult demand/supply situation that must have other resolutions to be lasting.
By my estimates the diesel agreement is less than two days usage for the U.S. — it is a Band-Aid.
The immediate response was for about a 4% decline in the price of diesel.
I am expanding my shorts on the news.
Position: None
More Index Shorts
With S&P cash +53 handles, I am shorting another tranche of indices:
* $SPY $779.22
* $QQQ $752.61
Position: Short SPY (S), QQQ (S)