Daily Note

A midday email that covers US, European, Asian indexes. Stock trade ideas. Market sentiment charts and focus stocks to watch using various technical indicators. Erlanger short interest highlights. This is a comprehensive note that covers quite a lot of territory.

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Sell It All

Sell It All

  • Some people are in a bad position where they have to sell it all to meet margin calls
  • We are not as we have had a high cash level well in advance of this slaughter
  • There will be bounces and good bottoms, I don’t think we are there yet.
Needs And Wants

Needs And Wants

  • Do you ever think about what you need and what you want?
  • As mentioned on the Mid Morning note, breadth was very weak, and the mega-cap strength couldn’t hold
  • The main event is the Fed meeting and Powell press conference tomorrow afternoon.
  • Focus on this note is US Sector ETFs and a few market internals
Chart Doom

Chart Doom

  • The market has been drifting up and down within 20bps today
  • I’ve had some charts break on my Bloomberg, and it’s consumed all my time today
  • I am covering a few short ideas today on the Trade Ideas Sheet
  • Some S&P charts with a DeMark Indicator that in my view illustrate the worst case scenario
Bond Kings

Bond Kings

  • Bond Kings are smart but are goofy
  • They know a lot about everything and on occasion they are right
  • They do goofy things too 
  • Covering half SPY and QQQ short and I have a put spread idea 
  • I’m on Bloomberg TV today at 3:15 ET