Author Archive: Jeremy Parkinson
Missing Money Inverts
There was a funny sort of Congressional exchange all the way back in November 2005 that in a weird way defines our world today. At the nomination proceedings on whether to confirm Ben Bernanke as Alan Greenspan’s successor, Senator Jim Bunning of Kentucky wanted the prospective Fed Chairman to first answer for M3. It had […]
Critical Juncture For Equity Markets
Yes, it’s the middle of the summer, and yes, volatility is extremely low! And, no, I’m not calling for a top here in stocks. But, what I am concerned is what the key averages (Dow Jones Industrial Average, S&P 500 Index and the Nasdaq Composite) are doing from a pure technical perspective. Looking back at […]
Google Beats, But Stock Slides On Tumble In Cost-Per-Click
Google, aka Alphabet, reported Q2 earnings that beat on the top and bottom line, reporting EPS of $5.01, above the estimate of $4.45, and earnings per share excluding the $2.7 billion European Commission fine of $8.90, also above the $8.25 expected. Total Q2 revenue of $26.01 billion rose 21% Y/Y, and also beat consensus of […]
Long Setups In The Ongoing Rally
The market found another dip that it could not resist buying today, AND Buy It DID! SPX is still dealing with negative breadth in the overall market, but it is improving, and the TICK readings are improving and the VIX continues to crawl into its hole, yet again. The Nasdaq did pullback a whopping 0.04% on Friday, […]
Stocks: The Forest And The Trees
Taking A Big Step Back The expression “the market needs to consolidate its gains” applies to all timeframes, from 60 minutes to 60 years. The chart below shows the NYSE Composite consolidating between 1965 and 1982. After the consolidation period ended, stocks surprised on the upside between 1982 and 2000. A similar “the market needs […]
Four Stocks To Keep An Eye On Before A Big Earnings Day Tomorrow
Photo Credit: Dave Center Domino’s Pizza Inc. (DPZ) Releasing 7/25/17 BMO The Estimize consensus calls for EPS of $1.25, three cents higher than the Wall Street consensus. Currently, the Estimize community is looking for revenues of $616.35M, just slightly higher than the Street’s expectation for $609.58M. Domino’s is showing some impressive numbers this quarter, with a P/E […]
Global Flash Manufacturing PMI Ticks Up In July
The July round of flash manufacturing PMIs showed a slight but important rebound in the “global flash manufacturing PMI” (an indicator we put together based on the Markit readings). Our data show the global flash reading up +0.4pts to 54.3 – which is the highest reading since February this year, thus while the move is […]
Incumbents Shouldn’t Bet On Rulemaking To Win The Sharing Economy Wars
Mayor de Blasio and Uber may have reached a truce, but the battle between the sharing economy complex and the groups threatened by it will continue. City councils, presidential candidates, corporations and labor unions will continue to paint the so-called “gig economy” as a threat to society that can only be addressed through caps, taxes […]
Existing Home Sales In June Dive 1.8 Percent: Same Old Problem? Second And Third Quarter Impact?
The wind down to the end of the second quarter is not going very well. Existing home sales in June fell 1.8% to a seasonally adjusted annualized rate of 5.52 million. The Econoday consensus estimate was 5.58 million. The slip in pending home sales was no false signal as existing home sales fell 1.8 percent in June […]
