This has been the pattern since May. Downside days fueled by FUD (fear, uncertainty and doubt) followed up by upside reversals and new highs. The uniqueness of this V shape is not lost on me, quickest down 20% on SPY back to highs since 1982. It goes without saying that to be passive is to...Read More

There were many excuses for today’s sell off:Amazon earnings (I still think they were good)Trump’s tariffsJobs numbers + BLS revisionsTrump firing BLS numbers womanTrump dispatching nuclear submarine after a Medvedev post on XOr, alternatively, markets ran out of steam and underwent a totally rational and normal sell off following months of gains.Whatever the reason, it...Read More

Both August and September are the only two months of the year which post an average loss over the past decade, two decades, three decades plus. You can view them in two different ways.Months to avoid and/or be cautiousMonths to be advantageous of potential dipsLet me explain why.If those two months are peak trough months,...Read More

Right out the gates markets ebbed to the downside, save META and a few others. The sell the news crowd was out in force and we ended up down 46bps, an awfully anti-climatic session. I hate these more than anything; but know from experience that I shouldn’t respond too harshly to markets doing what markets...Read More

First let’s discuss VRT numbers, out this morning.Vertiv beats by $0.12, beats on revs; guides Q3 EPS in-line, revs above consensus; raises FY25 guidance  (142.70 +0.15)Reports Q2 (Jun) earnings of $0.95 per share, excluding non-recurring items, $0.12 better than the FactSet Consensus of $0.83; revenues rose 35.1% year/year to $2.64 bln vs the $2.35 bln FactSet Consensus. Orders momentum remained...Read More