We have MTD gains approaching 2.5%. The bad news is — markets are tired of this shit.I suppose we can view this under a different prism, if we choose. Should oil truly ever crack lower — there will be a flood of buying and re-ratings higher to accommodate a new paradigm. In the meantime, we...Read More

In spite of all the tumult and degrading news, markets are resilient. Let me be precise on this opinion: the weighted indices have been resilient, funds flowing into Mag7 and other associated names — scarring others severely the past month. This is the reason why we pivoted back heavily to Mag7 over a month ago....Read More

The mood cannot be more grim. The amount of consecutive oversold signals is something I cannot recall seeing in recent history, especially with markets relatively close to the highs.Last night futures rose 400, only to fade it all into the abyss that was this morning. Once the bond auction came out better than expected, yields...Read More

There was thievery into the close and I’d like to see justice done, although I won’t hold my breath. Ten mins to the bell this bullshit hit the tape — stealing 3% from Google and helping the market puke into the close. *GOOGLE GRAPPLES WITH EMPLOYEE SKEPTICISM ABOUT NEW GEMINI MODEL— zerohedge (@zerohedge) September 30,...Read More

An odd session, felt like markets should have recovered better with rumors of more deals and yields and oil off the highs. However, markets remain hostage to this dichotomy and we are now legit OS most since the March lows.The oddity this turn around is the general indices are being buoyed all the way —...Read More