ZeroHedge Since inception in June 1998, UBS’ Managed High Yield Plus Fund survived through the dot-com (and Telco) collapse and the post-Lehman credit carnage but, based on the press release today, has been felled by the current credit cycle’s crash. After 3 years of trading at an increasingly large discount to NAV, and plunging to […]
WHAT ARE THEY SO WORRIED ABOUT? IS IT AN EARNINGS IMPLOSION? Q3 EARNINGS – Q3 EPS Expected to fall -4.5% According to Factset Q3 EARNINGS – S&P 500 Average Earnings Growth Y-o-Y – Not a Good Pattern Q3 ABOUT APPLE AND BOAML Q3 EARNINGS – Q3 Earnings Growth (Decline): Ex-BAC This is how big BofA’s […]
Market Road Maps, SPX Road Map
A few potential moves to watch out for this week. Some correlation between the indexes and stocks. Indexes: SPX, NYSE,NASDAQ SPX: Watching for a little bit more potential lift, where wave A = wave C, taking the market to around the 2055 level. Significant red long-term trend lines and other technicals can be seen in […]
Above you can see the original technical setup. Today saw the market flirt with the $22.00 technical short entry…. I didn’t exercise very much patience and jumped on the 1st hit of another potential break of the TC (technical trigger). I am looking for a drop to fill the gap. IF this occurs, there is […]
This was the original technical set-up I was watching. Despite general market conditions, we can see a steady rise this year in the security. At this point I’m banking on the large ellipse pattern that can be seen on the weekly pattern. What this is showing is that the stock momentum is increasing with the ellipse […]
A US REVENUE RECESSION Two Quarters of Negative Revenue Growth I have been talking for some time about a potential earnings recession and possibly even something worse on the horizon. Q2 Earning season and conference calls were as we expected. It marked the first time the S&P 500 index has seen two consecutive quarters of […]
THIS IS CREDIT VAPORIZING The chart below is what credit looks like as it is being vaporized! The August $9 trillion drop in combined market cap between the MSCI All World index and Chinese stocks, is the second highest ever, surpassed only by the $13 plunge in global market capitalization in late 2008. Though the […]
Over valuation has been a contention of ours for some time, but this is the first analysis we saw on a global aggregated basis. The following chart show valuation for both the bond and equity markets in 15 developed market economies. We see as we suspected it is at HISTORIC high levels. Not high, but […]
A new academic study finds that the stock recommendations made by technicians on CNBC’s ‘Talking Numbers’ show have outperformed those from fundamental analysts. CHAPEL HILL, N.C. (MarketWatch) — The age-old debate between technicians and fundamental analysts appears to be on the verge of being answered. Over investment horizons ranging from one month to one year, […]
Market Road Maps, SPX Road Map
A quick review of our S&P market analysis this year. While the recent market moves have caught some by surprise, we have been expecting it for some time. As you will see, several warnings were clearly given. Charts 1 – 3 were published at the beginning of spring this year. These are weekly charts and […]