One of my favorite clients (wealthy) likes to inform me when I am not beating indices — his way of telling me to get my shit together. The market seems much better the past month or so and the trillion dollar question is — ramp from here or retrace?At 6am I was awoken by an...Read More

Gents, Ladies:Markets pulled back a bit today, SPY down 23bps, Nasdaq -50bps. We managed gains of +19bps, still about 80% long into this period of consolidation. Before cresting to new highs, I think markets are dealing with a bit of churn here. The intraday rumors of war pending against Iran did us no favors, with...Read More

Ninety one stocks, with market caps of at least $1b, fell by more than 3% today. Totals without market cap filter was over 340 down more than 3%. By looking at the indices — you would not know that. Of the 3%+ losers, just 3 had market caps over $100b.The AI datacenter trade came under...Read More

I didn’t particularly like today’s tape. Plenty of micro caps are gunning whilst real growth names underwent harsh reversals. This morning we got hit with the sell rating by Deutsch Bank for ISRG — hitting shares. Unless really emphatic, I do not like battleground stocks.A look at the technicals of the SPY below indicates a...Read More

On Friday payrolls came in above-range at 139k, a little more than the $130k expected by analysts. What this does is, at least for now, put to rest the notion of recession, providing tinder for cyclicals to rally.Fridays run was as expected, but much more pronounced in the speculative small cap and high beta areas...Read More