December 1, 2021

In my weekend video report, I discussed the concept of alibied selling, something that Bill O’Neil described to me back when I ran money for him, and how it may be applicable to the current market action. Alibied selling is essentially a method or technique used by institutions when they are engaged in the overall process of distribution. It starts out with a general intent to... Read More

November 28, 2021

The downside air pocket I’ve been looking for per my discussions in recent reports finally materialized Thanksgiving evening, but with a little twist. A small catalyst in the way of news regarding a new mutation from the by-now venerable Cov-19 virus kicked off the festivities that extended throughout the night before Friday’s open. Much of the media panic porn regarding whether this new mutant... Read More

November 23, 2021

The week got off to a raucous open when the Biden Administration confirmed the renomination of the Reverse Repo Man himself, current Fed Chair Jerome “Jay” Powell. The NASDAQ 100 Index was leading the pack early in the day but eventually lost traction and reversed into the red, leaving the Dow at the head of the pack by mid-morning. By the end... Read More

November 21, 2021

The final two trading days of the week featured a notable divergence away from the broader market as money piled into big-stock NASDAQ 100 names, driving that index to all-time highs on Thursday and Friday. The big gamma unclench on Friday, featuring the expiration of the second highest number of stock, index, and ETF options ever, produced a very mixed market as the S&P... Read More

November 17, 2021

Major indexes have melted back up to their prior highs after the quick two-day sell-off early last week but are now running into resistance along those highs. The NASDAQ Composite Index illustrates the general concept as it has come within 1% of its prior all-time highs before backing down slightly today as volume contracted from the prior day.   ... Read More

November 14, 2021

It’s been a bit of a mix ‘n match kind of market this past week as there have been numerous and various actionable moves, some quite sharp, in individual stocks both up and down. This perhaps reflects the choppiness of the two-day sell-off from the peak that started on Tuesday that has been followed by a melt-up type of bounce where the indexes have now chopped their way back above... Read More

November 10, 2021

The markets got another inflation reality check this morning when the Consumer Price Index came in at 0.9% month-over-month and 6.2% over-year, a 40-year high. The Producer Price Index came in yesterday at another all-time year-over-year high. Despite the reality check, we may find that the Fed maintains its own alternate reality by keeping fed funds at 0%. Not something we would consider rational... Read More

November 7, 2021

I noted on Wednesday that the Fed doesn’t appear to be intent on putting any obstacles in front of this market as it engages in only token tapering. The only potential fly in the ointment, aside from some random, exogenous Black Swan event, is what happens with market-determined interest rates and their effect, if any, on stock market liquidity. The Ten-Year Treasury Yield ($TNX)... Read More

November 3, 2021

In the first modern movie version of Batman, Michael Keaton, playing the lead role, first confronts his villainous nemesis, the Joker, played by Jack Nicholson, in his own apartment by brandishing a fireplace poker and yelling, “You wanna get nuts? Let’s get nuts!!!” Certainly, a meaningful phrase for this market, which often loves to show off its tendency to go nuts. Another... Read More

October 31, 2021

Investment themes, or the thematics, as I refer to them, that drive stock moves in this market come in all shapes and sizes. The shortage theme has been a strong one in this market as of late, and we’ve seen many big rallies in a variety of stocks from groups deemed to be benefiting from shortages of stuff that they make, ranging from aluminum to uranium and everything... Read More