Category Archives: Equities

The Market With A Draghi Tattoo

Posted on July 27, 2012 by macromon

Wow! Stunning 4 percent plus move in the S&P5oo on the back of Mario Draghi’s comments he will do “whatever it takes” to save the Euro.  It got another kick today when Draghi wasn’t refuted by the Angela Merkel and … Continue reading →

Posted in ECB, Equities, Monetary Policy | Tagged , , , | 4 Comments

Elevator Shaft Stocks

Posted on July 20, 2012 by macromon

Chipotle Mexican Grill (CMG) is swan diving down the elevator shaft this morning, falling over 20 percent from yesterday’s close.   This stock was a darling of the momo crowd and with a P/E over 40 was priced for perfection with … Continue reading →

Posted in Earnings, Equities | Tagged , | Leave a comment

Why Are Equities So Bid?

Posted on July 19, 2012 by macromon

U.S. retail sales fall for the three consecutive months.  Chairman Bernanke disappoints the easy money crowd during his Congressional testimony.   Weekly jobless claims come in much higher than expected. Companies miss big on the top line yet their stocks move … Continue reading →

Posted in Equities | Tagged , , | 15 Comments

Surprising Strength

Posted on July 17, 2012 by macromon

You have to respect the price action in U.S. equities.  The S&P500 closed above its 100-day moving average and the key fibonacci level of 1358. No QE today and stocks trading up after missing earnings?  What gives? Just doesn’t seem … Continue reading →

Posted in Earnings, Equities | Tagged , | 1 Comment

Will the smelly macro eat the micro?

Posted on July 10, 2012 by macromon

Ugly macro as the three swans are back with a vengeance.   China hard landing fears;  Eurozone debt and banking crisis (say it ain’t so, Mario!); and fears of a rapidly slowing U.S. economy. Are the swans  in the latest quarterly … Continue reading →

Posted in Banking, Black Swan Watch, Earnings, Economics, Equities, Euro, Technical Analysis | Tagged , , , , | Leave a comment

Euros Save the Day, But NIKE Takes Nasty Headbutt

Posted on June 29, 2012 by macromon

Was it really that much of a surprise to move the Dow 400 points off yesterday’s low?   Nope. Though we remain concerned about a “terminal” Euro, here’s our commentary from Weekly Eurozone Watch last week, Post Greek election and rumors … Continue reading →

Posted in Black Swan Watch, Equities, Euro, Germany, Sovereign Debt, Sovereign Risk | Tagged , , , , , , | 1 Comment

Squirrelly Summer Market

Posted on June 20, 2012 by macromon

Squirrelly trading after the FOMC announcement.   Looks like real money is on vacation and traders just flipping with each other.   No big sellers and shorts forced to cover Headlines out of Europe show a little more flexibility from Germany … Continue reading →

Posted in Black Swan Watch, Equities, Euro | Tagged , , | Leave a comment

VIX and Euro Divergence

Posted on June 18, 2012 by macromon

Lot’s of interesting divergences today. Check out the VIX and Euro both moving down today, which diverges from recent history.   The VIX is down over 11 percent today, which could be position squaring before options expiration.  We suspect that many … Continue reading →

Posted in Apple, Equities, Euro | Tagged , , | Leave a comment

S&P500/VIX Divergence

Posted on June 14, 2012 by macromon

Interesting pattern has developed over the past few days.  The S&P500 spikes higher and yet the VIX remains elevated.   The S&P then rolls over later in the day. Could be the triple witch, but we’ll play it as non-confirmation … Continue reading →

Posted in Apple, Equities | Tagged , , , | Leave a comment

Sniffing The Romney Rally?

Posted on June 13, 2012 by macromon

It’s very difficult for us to explain, on the fundamental basis,  why the market has been so bid over the past few days after Monday’s ugly reversal. Could this be it? The Rasmussen Reports daily Presidential Tracking Poll for Wednesday shows Mitt … Continue reading →

Posted in Equities, Politics | Tagged , , | 2 Comments