Margin Pressures and Higher Interest Rates Offset Good Earnings Reports
The market remains under pressure as it awaits significant employment news.
Some Midday Observations
* Market breadth has improved.
* The Russell is crowing relative to the senior averages.
* Bonds can’t rally.
* Financials can’t hold their gains.
* Many large-cap tech stocks continue to show signs of rolling over.
* It is all $NVDA, all the time.
* On the other hand, consumer non-durables ($KO, $PEP, $PG, $KMB, etc.) are suddenly rallying today after days of weakness.
* The business media is preoccupied with silly data on September weakness. (Another CNBC Blather Survey — there have been nine discussions of this thus far today.)
Bottom Line
A sloppy and trendless tape.
Position: Long PG (VS), PEP (VS), KO (VS), KMB (VS)
Top 2 GARP Stock Picks in a Bifurcated Market
Finding growth at a reasonable valuation has become a key challenge for prudent investors.
A Global Bond Rout and a Third Central Bank Turns Hawkish
The market is under severe pressure as oil remains elevated and yields are rising everywhere at once.
A Slight Scent of Bear in the Air
Ugly action feels much worse if you have no flexibility. Here’s what I’m doing.
What’s Behind the Bond Trouble
Let’s see what’s causing the big bond selloff, why I don’t believe they’re collapsing, and some words on that $40 trillion national debt.
Europe Provides the Market With a New ‘Excuse’
The technical damage came first. Now the news is doing the rest.
Monday’s Statistics Looked Terrible, Although There Weren’t Many Sellers
It’s one of those days where things looked bad, but the up and down volume statistics were equal.
August Monthly Roundup: Maintaining Our Lead Through the Ups and Downs
We initiated three positions, added to several others, and locked in massive gains along the way.
These Two IPOs Could Decide the Fate of the Market Rally
So much is now riding on the success of Anthropic and OpenAI going public. That’s making me nervous.