Market Structure Insights

May 5, 2021

This Cinco de Mayo we’re grateful for tequila. Especially if you’re a Tech investor. Why are companies crushing earnings and revenue being pulverized by an imperious market? It’s easiest to say expectations for the future have diminished and so market capitalization will too.  That doesn’t...

April 28, 2021

It’s earnings season. Across the market, companies beat expectations and lift guidance and stocks decline.  Huh? I can offer a broad array of cases.  Take TSLA.  Massive quarter, monstrous boost to forward views.  Stock declines. And yes, I Tweeted before TSLA reported that its price...

April 21, 2021

Google chose as motto “don’t be evil.” “Beware derivatives” isn’t a bad motto either. If you’ve read the MSM long, you know we’ve beaten the drum like Boneshaker (when you hear the sound of the drum, here we come) over the risk in derivatives. Oh...

April 14, 2021

In Lake Jackson, TX, you can take This Way or That Way. No, really.  I snapped that shot Friday at the corner of This Way and That Way in LJ.  And yes, that rhymes.  And yes, it’s a metaphor for the stock market.  It goes...

April 7, 2021

  Do you know traders could have made 580% in the S&P 500 the past 200 days? Public companies, your stock need not rise.  I’ll explain. The S&P 500 is up almost 20% the last six months. The math says 454 of the 500 are...

March 31, 2021

The stuff Archegos used expires today. Sound like Greek? Let me explain. A hedge fund blew up. Its counterparties are taking huge hits. There are ramifications. What happens?  Maybe nothing. Maybe everything. First, let’s understand “counterparty.”  A counterparty accepts the risk of the opposite of...

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