Did Exchange Traded Funds drive the recent market rollercoaster? The supply of ETF shares moved opposite the market. The S&P 500 fell about 16% in December and rose around 19% from Dec 24 to March 5. In December, says the…
View pageAs dawn spreads across the fruited plain today, we’re plunging into Iceland’s Blue Lagoon. If we learn market-structure secrets here, we’ll report back next week. Meanwhile, stocks have been emitting the effervescence of a Sunday brunch mimosa bubbling a happy…
View pageHalf the volume in the stock market is short – borrowed. Why? It’s the more remarkable because stocks since late December have delivered an epic momentum rebound. A 15% gain is a good year. Half the sectors in the market…
View pageWe’re told that on Friday Jan 18, the Dow Jones Industrial Average soared on optimism about US-China trade, then abruptly yesterday “global growth fears” sparked a selloff. Directional changes in a day don’t reflect buy-and-hold behavior, so why do headline…
View pageDo we need another stock exchange? I’ve been asked this question repeatedly since Bank of America Merrill Lynch, Charles Schwab, Citadel Securities, E*TRADE, Fidelity Investments, Morgan Stanley, TD Ameritrade, UBS, and Virtu Financial agreed Jan 7 to collaborate on seeking…
View pagePaul Rowady writing at Alphacution says 67% of securities in US stock markets are derivatives dependent on an underlying 33%, made up of company stocks. It’s leveraged. We can talk about ramifications at the end. To begin, the point is…
View pageFor the Federal Reserve, 2018 was the end of the lane. For us, 2019 is fresh and new, and we’re hitting it running. The market comes stumbling in (anybody remember Suzy Quatro?). The Dow Jones dropped 6% as it did…
View pageIn the stock market the beatings have been consistent while we all wait for morale to improve. What’s causing it? I’m surprised conservatives haven’t blamed midterm elections. Alert reader Pat Davidson in Wisconsin notes CNBC viewers say tariffs, global economic…
View pageWe take a moment to honor the passing of George Herbert Walker Bush, 41st President of the United States, who earned respect across aisles and left a legacy of dignity, achievement and service. Markets are closed today in Presidential honor,…
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