Taking a Long Rental in the Indexes
I’m taking a small trading long rental in the indices:
* $SPY $736.37
* $QQQ $705.04
Position: Long SPY (VS), QQQ (VS)
S&P 500 Sector ETFs
At 2:55 PM:
Position: None
Abby Normal
Dr Frankenstein: Now that brain that you gave me, was it Hans Del Brooks?
Igor: No.
Dr. Frankenstein: Would you mind telling me whose brain I did put in?
Igor: Abby someone.
Dr. Franksenstein: Abby, who?
Igor: Abby Normal – I am almost sure that was the name.
Dr. Frankenstein: Are you saying I put an abnormal brain into a 7 1/2 foot long, 54 inch wide gorilla?
– Young Frankenstein Abby normal scene
Consider the following price changes in today’s session:
* $SNDK -$201
* $MU -$101
* $AMD -$51
* $MRVL -$38
To me, this should make investors consider whether the market has been nothing more than a casino — in which the many momentum-based investors know everything about price but nothing about value.
And that, as I have observed, the concepts of risk vs. reward and “margin of safety” have been generally ignored.
Position: None
Surprising Job Report Eliminates Chance of Interest Rate Cut
This is a much stronger labor market than those who vote on policy at the Fed’s FOMC thought they were going to be dealing with.
The Judge Goes to the Charts
On The Death Star, Judge Wapner just refenced the chart contained in my “It Is Not Different This Time” post:
Position: None
Subscriber Question of the Day (And My Response)
Gord
HI Doug, any targets for MSOS? Thx G
Dougie Kass
i don’t do price targets. markets are dynamic and ever changing
there is a bearish view and a set of assumptions – yields price of $4
there is a base case view and a set of assumptions – yields $10-$15
there is a bullish view and a set of assumptions – yields over $20
Position: Long MSOS (M)
The Reason?
This is likely the reason for the last leg lower in equities:
Live updates: Iran war, Lebanon’s president speaks out, Hezbollah-Israel attacks | CNN
Position: None
Private Credit Contagion Will Spread as Market Ventures into Uncharted Territory
When else in history have equities traded at record highs while consumer sentiment readings were at record lows?
For Kicks and Giggles
For kicks and giggles, here is my negative market outlook from earlier this week:
Position: None
Planet Labs Breaks Its Trend, But I’m Buying the Weakness
Let’s review the quarterly results, what the chart looks like and why I’m adding.