We have alerted readers for the past couple of weeks – and annually – that the first part of December tends to be weaker as tax-loss selling and year-end portfolio restructuring begins.
The mutual funds continued selling on Thursday’s close with another $1.2 billion in stock for sale. It was another day of ups and downs and heavy program and algorithmic trading. With the S&P futures (ESZ13:CME) trading below fair value, the index remained suspect as none of the rallies held. Today’s trade is all about the […]
Featured Breadth Chart of the Day: For our Chart of the Day it is the Zweig that has finally decided to set the trend lower with a lower low. We would expect now to see a reading toward 40. Economic News: Jobs number will steal the show today at 8:30am. Don’t forget that Michigan number […]
Talking Points: - BoE/GfK 12-month CPI Expectation: +3.6% versus +3.2% expected (y/y).
A volatile Thursday chose an improving Euro zone over an improving US today, with dollar strength from a better than expected US Unemployment Claims being reversed following the upbeat ECB rate hold and press conference, despite the upbeat US jobs data coming in ahead of Friday’s modestly forecast and potentially explosive Non-Farm Payrolls.
Mitt Romney may have meant something perfectly nice when he told a voter, “Corporations are people, my friend,” but in a post-Citizens United America, it sounded elitist. Still, he may have been onto something. Corporations bring out the best and worst in people. So do markets. Markets can bring out both the madness of crowds […]
Assets vs. sentiment; algos locked and loaded for jobs Friday; $XLF call buying; Sam E’s treasure map for shorts
Collective Intelligence! The European Central Bank and the Bank of England rate decisions were of no consequence, although there was a hawkish tone to Draghi’s presser. The economic data did not matter too much either, although some saw tapering coming … it has all come down to tomorrow’s jobs report and the non-farm payrolls data. […]
Adjusted on: 12/5 US 30-Year Bond: ON the #, here’s what to focus on: as long as trade is below 129.19 EVERYTHING downside is in play.
NEW YORK (TheStreet) — A look at labor market explains why investors cannot decide whether the Federal Reserve will begin to reduce its bond-buying program now or later.
I scrolled a bit thru the MTS chat log looking for a question to answer … a topic to discuss – but nothing jumped out at me. Then I realized the crucial question none of the new traders was asking.. One thing that I still think needs repeating is that new(er) traders, whether in bonds […]
Crude traders are skeptical that the accord loosening some economic sanctions against Iran in return for limiting nuclear work will lead to a surge in oil supply from what was once OPEC’s second-biggest producer.
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The MrTopStep Imbalance Meter (MiM) is fast becoming a money-making machine for the traders in our IM Pro trading room. Our not-so-little secret continues to pay big rewards on the days when the imbalance is exceedingly large – a pattern that continues to pay like our very own ATM machine. Trade what works in the […]
Tomorrow Americans have a chance to give thanks, to each other, to the country, to the opportunities this miracle of a nation affords us. Gratitude is not just nice. It is a key to sanity, to clear thinking, and to moving from thoughts of scarcity to abundance. Before you can have what you want, you […]
When Danny Riley forwarded me this essay by PIMCO (PHK:NYSE) CEO Mohamed El-Erian, it was an interesting coincidence. I had been reading LinkedIn’s “The Book That Changed Me” series by business leaders and looking for El-Erian’s. I highly recommend the series; you’ll likely find a book you love and one you want to read. El-Erian’s choice […]
[Editor's note: We were deeply moved by this letter from our friend Wes Woo. Wes lost his father this week and wrote about his life and the lessons he lived and passed on by example. Please read it and share it with friends, especially young people. And thank you, Wes and the Woo family, for […]
We shut down our “trial room” a few months ago and replaced it with the new MrTopStep Boot Camp, to give people a fuller experience of our professional trading room. The first one we did a few months ago was very successful. For one week, you get total access to our professional MrTopStep Trading Room, […]
While the stock market has seen its share of twists and turns in 2013, one sector that continues to outperform is credit card companies. In particular the two standouts, Visa (NYSE: V) and MasterCard (NYSE: MA), have made steady, robust gains all year. While the the public tends to concentrate on names like Apple and […]
With the final days of September down, October started out mixed with an “up a day, down a day” price action. The selloff really didn’t start until last week, but by the end of the week the S&P began to firm. Who could have guessed that the S&P was going to reverse ship and rally […]
Today’s dollar index trading idea comes from something Danny Riley said yesterday in the office after the close. Scanning the headlines while answering emails and messages, he said, “We look like $^#&in’ idiots around the world!” It was a hard point to argue. Myself, I put more of the blame on the House Republicans letting […]