Alright, maybe it’s starting to sound like the boy who cried wolf, or merely my fairly convicted view that the concentration in the Nasdaq among a handful of stocks will eventually be the stock market’s …
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Big Printin’ GLD, MET, VIX
Here was some apparently untied directional options activity that caught my eye in today’s trading: MET: Shares of the life insurer saw a sharp intra-day reversal after initial opening down at a one month low …
Continue readingQ Tip of the Iceberg – QQQ
Since reporting calendar Q3 results in the last week or so, Apple (AAPL), Alphabet (GOOGL), Amazon.com (AMZN) and Facebook (FB), the stocks have lost between 5 and 10%. That is equal to nearly $200 billion in …
Continue readingMorningWord 11/03/16: A StockWork Orange
Yesterday the S&P 500 (SPX) did something it has not done since October 2008 when global markets were in the throes of the worst economic and market crisis since the Great Depression, it closed down …
Continue readingNovember Spawned a Monster (Election Volatility)
The VIX (CBOE Volatility index) recently touched the fairly low level of 13 on October 24th. Since that day, it has seen seven straight up days and is now above 20 on today’s nearly 20% …
Continue readingMorningWord 11/01/16: October Disguises
The nearly 2% decline for the S&P 500 (SPX) in October was its first monthly decline since February (down 41 bps) and worst since January’s 5% decline. I have no idea if the SPX is merely consolidating above …
Continue readingMorningWord 10/31/16: High and Dry
You know the drill… BOJ, Fed, Oct Jobs this week. Election next. I suspect BOJ surprises to the downside on less than expected commitment to monetary stimulus, but will be muted. I expect the Fed …
Continue readingRussell, Your Looks Have Become A Problem – IWM
The S&P 500 (SPX) took a brief hit this afternoon after the FBI announced to Congress they are reviewing new emails recovered from then Secretary Clinton’s private email server. After the quick 1% drop, the …
Continue readingVerizon (VZ): Can You Buy Me Now?
Event: Verizon (VZ) reports Q3 results tomorrow before the open. The options market is implying a 2% one day post earnings move, which is essentially in line with the 4 quarter average. Price Action / …
Continue readingMorningWord 10/18/16: Netflix Streaming
Shares of Netflix are up 17% as I write after releasing Q2 results showing far better than expected streaming subscriber additions. They also guided Q4 higher. This comes after two consecutive quarters of worse than …
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