Now that the market is fully back to its usual melt-up gimmicks, when fundamentals do not matter in the least, and the only potential stock drivers are technicals, which for the market dominating algos typically reduce to such simplistic signals as stock price momentum (and reversion) and short interest as a % of share float, we present our summary of the worst of the worst. The following 40 companies are those names (among the Russell 2000) that have underperformed the market either by a little or a lot, now that the S&P is flat for the year, and which still carry a substantial short interest as a % of the total float (with a 20% of float short minimum)
In an interesting development, the US Dollar Index (shown here in the @DX futures contract) has been riding a clearly defined trend channel higher, with a few bumps along the road. Let’s take a quick look at the current structure and note the most important price levels to watch going forward - in the event of any sudden price breaks
A few readers have asked me to post on the current state of the EURUSD FOREX pair, and indeed there’s something interesting going on here and it’s definitely worth a look. Let’s see a long-term structure chart along with the key level to watch in the pair as we form positive divergences at the 61.8% Fibonacci Level - a very important inflection point for sure. (Click for full-size image) Taking the chart step-by-step, I’m showing the EUR-USD pair (this is the inverse of the US Dollar Index, which I highlight more often than pure FOREX pairs) from the March 2009 “bottom,’ which coincided with the stock market low
Art Cashin's early morning thoughts, via UBS Fin Services Stocks Sleepwalk Into Resistance As Gold Stalls – Stocks and oil moved higher yesterday as the dollar (DXY) seemed to stall around 80.75 for the third time in a couple of weeks. The reaction was especially evident shortly after 2:00 when the DXY accelerated its fade and stocks spiked.
Earlier it was announced that the NYSE has added GETCO as a NYSE Designated Market Maker, and that GETCO has purchased 350 NYSE DMM assignments from Barclays Capital.
From Art Cashin's Market Commentary, as distributed by UBS Financial Services, February 4 On this day (+2) in 1858, that august deliberative body, the U.S. House of Representatives was calmly discussing a matter of import to the nation. Well....maybe "calmly discussing" misses the point.
RANsquawk 5th February Morning Briefing - Stocks, Bonds, FX etc.
RANsquawk 4th February Morning Briefing - Stocks, Bonds, FX etc.
Now that American equity markets are controlled by Atari and Commodore, which in turn means stocks go up or down purely based on nanosecond colo lag variations, investors who wish to invest in stocks based on this crazy thing called fundamentals are forced to look elsewhere. One such place could be Europe, and now that the Baltic states, Greece, Portugal, Spain, Iceland and Ireland are literally living on an IMF's prayer, the first market which will take a big leg down will in all likelihood be Europe. Starting with that bearish assumption, we present several ideas out of Morgan Stanley's "Sellers' Compendium February 2010" by Ronan Carr
RANsquawk 3rd February Morning Briefing - Stocks, Bonds, FX etc.
Sunday, March 7, 2010
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