Market Structure Insights

dreamstime l 187656017
September 27, 2023

Why is there a 100% spread between SPY and stocks? SPY is the State Street S&P Depository Receipt, called a “spider” for the acronym SPDR, tracking S&P 500 stocks.  It’s an exchange-traded fund (ETF). The term depository receipt reflects the roots of ETFs at State...

dreamstime l 18319971
September 20, 2023

You’ve heard the joke about economists?  You know they’ve got a sense of humor because they use decimal points. The same can be said of market structure, but let’s spotlight only economics today, since there’s a Federal Reserve press conference. That way we leave something...

dreamstime m 62281188
September 13, 2023

Trend-following works only if the trend holds.  Trends are core to technical analysis, the dark art of studying stock charts to divine whether prices will rise or fall. Admittedly, I have poked fun at technical analysis, including in the title of my presentation for Interactive...

dreamstime l 264132485
September 6, 2023

Everybody else is seeing Barbie and Oppenheimer and we’re just getting around to Avatar: The Way of Water. The sequel to James Cameron’s 2009 film Avatar has made over $2 billion at the box office, equal to NVDA Q1 2023 net income. I don’t remember...

dreamstime l 140502745
August 30, 2023

What if the stock market has tides like the sea?  I’ll give you some data – as is my custom.  In the past six years, the tides of the stock market have been all the way out – low tide – 29 times. It’s the...

dreamstime l 14649967
August 23, 2023

It’s been a surreal week.  We’ve had a life-changing event, a terrifying experience. But it’s going to be okay.  Those of you in our close circle know.  We’re more reflective. And I can’t let beta go.  I’m admittedly fixated on it.  Especially seeing what happened...

Want to know your Passive characteristics? How to rethink your earnings reporting cycle?