The T Report: Bad Bear Tells – VIX, Volume, High Yield, Spanish 10yr
Nervous Short I remain short. I am flat Spain, Italy, and banks. I am short U.S. stocks here. I like CDS, but think IG18 will drift back to over 100 before it can take another leg tighter. I think so much has been priced in from the ECB, that we face some disappointment as more […]
The T Report: Time For A Breather
I Can’t Do It. I just can’t get excited about the market here. I can’t help but getting out of Spain and Italy and Banks at these levels. It has been a great run, and while I do believe the ECB will launch some new programs, we have priced a lot in. It also seems […]
The T Report: A New EU? Does Nein mean Nein?
Is it a New EU? Of the major players coming into June 2011, almost none are left. Attrition and elections have taken care of most of the major players. In fact, you could make a case that Merkel is really the only major player still in the same position. I think this is important particularly […]
The T Report: Paradiso by Lampa de Dashboard
I Gotta Know Right Now Last call is approaching in Europe. It’s getting late, everyone is getting tired, the dance floor is crowded and people are making their move. I can’t get that image out of my head and I can’t help but think that Meatloaf, of all people, sums up where the market is […]
The T Report: Manziers and Puffy Shirts
What Does Seinfeld Have to Do with Anything? Not much, but I figured everyone could use a smile on this slow Friday, and the Manzier (or Bro if you prefer) somehow fit my mood. I am neither a bull nor a bear right now. I have a lot of thoughts bubbling, but I’m struggling to […]
The T Report: Some Numbers Worth Thinking About
What Are Investors Thinking About Coming Into the Home Stretch? Whether it is right or wrong, many still think of investing on a calendar year basis. So as we crawl through this period of incredibly low volatility and low volume it is time to start thinking about the home stretch. Coming into year end there […]
The T Report: Renter Nation
Buy and hold is dead. We “rent” stocks. We “rent” bonds. We “rent” commodities, and now we “rent” homes. There are the obvious, negative reasons that homeownership is not increasing. Not enough jobs, loan availability is still difficult, a separation between where you can afford to live and where you are willing to live, etc. […]
The T Report: If a Stock Doesn’t Trade, Does it Make a Sound?
If a Stock Doesn’t Trade, Does it Make a Sound? There is a lot of talk about low volumes and what that means. There’s also a lot of chatter about low vix and what that means. I don’t pay much attention to each. I watch them, largely because others do, but don’t rely on them […]
The T Report: Fuzzy Wuzzy Was a Bear
Bullish Sentiment Still Not as Aggressive as Bearish Sentiment I read report after report that pointed out the Bear Case. The Demise of Europe, Hard Landing in China, and Fiscal Cliff dominated the analysis, roughly in that order. I agree with a lot of the Bear case. I can see it. I can argue it, […]
The T Report: Nike Named Head of the ECB
This is Getting Really Really Really Really Really Old Weak Chinese economic data. European economic data. I didn’t bother adding the word weak, since that seems either redundant or implicit in the phrase “European economic data”. Seriously, does anyone bother to look at it, or does everyone now just take a quick glance and know […]
