HYG is testings it’s 200-week moving average, but is still above the upwardly-sloping trend-line off the Q1 ’16 lows. With the 50 bp’s fed funds rate reduction by the Fed, high-yield credit is always worth watching. With the Fed … Continued
The first rate cut in – what – 8 or 10 years just 6 weeks ago, saw the SP 500 and the high-yield credit markets sell off sharply. The selling continued through the first half of August as the SP … Continued
The JNK high-yield ETF looks the best of our three charts today, already having transcended the downward sloping trend line off the 2014 peak. The HYG is sitting just above resistance at the downward sloping trendline off … Continued
Chris Kimble of Kimble Charting Solutions with a chart out last week showing the coincidental bumping of resistance for both the JNK (high yield ETF) and the SP 500. I used the word, “coincidental” but there is causality here. … Continued
SP500corrections The above link is our/my internal spreadsheet noting the last few year’s history of SP 500 corrections. Note how in 2014, we’ve seen two very brief SP 500 corrections, although some might not even call them “corrections”, but the random … Continued
@361Capital and Blaine Rollins. Health Care continues to lead SP 500 this year-to-date. 361’s Monday night piece is one of the best reads of the week. Be sure and get on the email list. (Long AMGN, MRK, PFE, JNJ) The … Continued
One of the best tweets of the week, from Josh Brown (naturally) who linked this Harvard study noting that for individual investors, returns are “extrapolative”. Explained another way years ago by a fellow contributor to TheStreet.com, Gary Dvorchak, individual or … Continued
In 2013, our best call for clients this year was our Facebook (FB) long, which we detailed here and our best sell decision was exiting the homebuilders in late May, 2013, which we wrote about on SeekingAlpha here, and here. We are … Continued
A quick thanks to CNBC-Asia, Elly Whitaker, and Joanne Wong, for the interview on CNBC-Asia Monday night. We talked Alcoa (AA) earnings and SP 500 expected earnings for Q2 ’13. Hopefully the CNBC anchors, Oriel Morrison and Adam Bakhtiar found the … Continued
As we talked about last week, the “forward 4-quarter” estimate for the SP 500 reached a new record high this week of $116.67. The p.e ratio on the forward estimate is 13.99(x). The “earnings yield” on the SP 500 is … Continued