Better Than Expected

Better Than Expected

A few trading days ago, I suggested shorting Diana Shipping. It went great, but I covered way too soon. It simply keeps falling (I’ve marked my “short” point with an arrow). I mentioned this before, but one of my readers got bent out of shape than I dared show a picture of Lady Diana, but, meh, you get a […]
INDU And The 200 Point Move

INDU And The 200 Point Move

The INDU is up more than 200 points today, what is the reason? Treasury Secretary Steven Mnuchin said today that the U.S. is closing in on presenting a substantial tax reform. “We’re pretty close to being able to bring forward what’s going to be major tax reform,” Mnuchin said while speaking at the IIF Policy […]
You Only Need One Chart

You Only Need One Chart

Do you want a “pure” look at how disconnected equities have become from the economic realities of the reflation narrative? Sure you do. And your interest is appreciated by RBC’s Charlie McElligott who has the following chart for you: (BBG, RBC) We don’t really aspire to much in the way of professional standards here at HR […]
Dover Tops Q1 Earnings & Revenues, Raises ’17 View

Dover Tops Q1 Earnings & Revenues, Raises ’17 View

Dover Corporation (DOV – Free Report) reported first-quarter 2017 adjusted earnings per share from continuing operations of 70 cents, which increased 25% from 56 cents recorded in the prior-year quarter. Earnings also beat the Zacks Consensus Estimate of 62 cents. Including one-time items, earnings came in at $1.09 per share, up from the prior-year figure of $0.64. Total […]
ETFs Are Reducing Market Efficiency

ETFs Are Reducing Market Efficiency

ETFs have attracted plenty of criticism over the past few years, and according to researchers at Stanford University, Emory University and the Interdisciplinary Center of Herzliya in Israel, at least some of these concerns are valid. The researchers published a paper on the topic last month within which they examined whether an increase in ETF ownership is accompanied by […]
Leading Economic Indicators: More Soft Data Silliness

Leading Economic Indicators: More Soft Data Silliness

The index of leading economic indicators rose by 0.4% beating the Econoday Consensus estimate of 0.2%. “Gains were broad-based in the month led by the ISM new orders index and including, as always, the interest rate spread where short-term rates are unusually low. The LEI has been very solid and continues to point ahead to rising economic […]
Hot Options Report For Midday – Thursday, April 20

Hot Options Report For Midday – Thursday, April 20

Most Active Stock Options For Midday April 20, 2017  
Continuing Jobless Claims Collapse To Lowest Since Right Before DotCom Crash Began

Continuing Jobless Claims Collapse To Lowest Since Right Before DotCom Crash Began

The last time continuing jobless claims was this low, the Nasdaq peaked at the end of the dotcom boom and collapsed over 80% in the next 2 years. So be careful what you crow about… The ‘best’ continuing jobless claims print since April 2000… tumbling to 1.979 million (well below the 2.024 million expectations) Despite a […]
March Inflation, Retail Sales And Gold

March Inflation, Retail Sales And Gold

Last week, two important U.S. economic reports were released. What do they imply for the gold market? Recently, geopolitical events – such as the U.S. strike in Syria, tensions over the North Korea, Turkish constitutional referendum, or May’s call for a snap election in the UK – have caught the investors’ attention. However, geopolitical events rarely lead to lasting rallies. Since the […]
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                        How The Passive Investing Mania Undermined Its Most Basic Assumption

EC How The Passive Investing Mania Undermined Its Most Basic Assumption

I have argued that “passive investing” is an oxymoron because it denies precisely that which defines an investment: active analysis. Proponents of the strategy don’t seem worried about this inconsistency, though. This is likely due to the fact that most of them believe the market to be, to a great extent, efficient. From Wikipedia: Efficient-market hypothesis (EMH) is a […]