The T-Report: Keeping it Simple
As Simple As it Gets This is probably the simplest technical chart out there. A basic RSI chart which is signaling overbought for the first time since September. It was good in September and was good in March of last year. It was awful at the start of last year. So is this another January/February […]
Weekly Fixed Income ETF Review & Positioning: Ramones Edition
I Want to be Sedated! Continuing on our investing for “boredom” and a market addicted to morphine themes, I couldn’t think of a better song to channel and I really do think the Ramones are under utilized in investment letters. This was just a dull week in fixed income. Treasuries provided probably the most excitement, […]
Treasuries, QE, Float & the Hotel California
This if from a couple of weeks ago, but has been part of the premise that has encouraged us to be vocal about liking longer dated bonds since the January 2nd route. Treasuries, Still a Market? It is impossible to read about the markets and not come across opinion after opinion about what moves in […]
The T-Report: Where’s The Beef
Where’s the Beef? The fiscal cliff was allegedly the last big hurdle for America. Once the cliff was “resolved” all this consumer pent up demand would be unleashed, and businesses that had been holding back on growth were about to launch new initiatives. As in the old Wendy’s commercials, where’s the beef? Due to the […]
Monday’s T-Report: Another Brick in the Wall of Worry
Actually there are no brick’s in the wall, at least not in the so called “Wall of Worry”. Wall Street is full of clichés that usually annoy me, but that I also have no problem using when the occasion fits. And today’s cliché is that the markets need to “climb a wall of worry”. Let’s […]
TF Market Advisors: Two Sides of the Platinum Coin
The “Platinum Coin” and the Debt Ceiling There is a lot of talk about the trillion dollar coin. That has actually clouded what is an already clouded issue. My understanding is this is how it would work: There is a law on the books that allows the treasury department to mint platinum coins – specifically […]
Friday’s T-Report: The Peter Lynch Economy
I’m sure many of you have read One Up on Wall Street and are wondering what that has to do with the economy. So am I, but I started with it, so let’s keep running with it. His lesson, at least as I took it, was to stick to things you know. Simple things in […]
Yesterday’s T-Report: The Mystery Men of Pent up Demand
Who are these mystery men that will drive the market higher? Yesterday in particular, the bull case seemed to boil down to the view that the fiscal cliff “resolution” would force action from the 3 mystery men The bear who has to cover shorts no matter the cost The bull who is underweight and needs […]
Delayed T-Report: 12 Hours Does Not a Year Make
12 Hours Does Not Make a Year So here we are with S&P futures up 60 points since Monday morning. Clearly the Fiscal Cliff deal must be a good deal? I just can’t get there. I don’t think going over the cliff was priced in, and certainly not at 1,430, so the strength is a […]
Fixed Income ETF Strategy Update
Recommended Strategy Changes: With a pretty large two day move we have a number of changes to make: Core: HY down from 30% to 10% Long Treasuries, up to 20% from 0% Muni’s down from 25% to 10% Traded: HY down from 10% to 0% Leveraged loans from 10% to 0% Long Treasuries, up to […]
