BETWEEN THE HEDGES

Portfolio Manager's Commentary on Investing and Trading in the U.S. Financial Markets

Top Menu

  • Home
  • All Links
  • Morning Preview
  • Intraday Overview
  • Evening Review

Friday, January 02, 2015

Weekly Scoreboard*

Posted by Gary .....at 7:11 PM
Indices
  • S&P 500 2,058.20 -1.14%
  • DJIA 17,832.99 -1.10%
  • NASDAQ 4,726.81 -.98%
  • Russell 2000 1,198.80 -.66%
  • S&P 500 High Beta 34.05 -1.16%
  • Wilshire 5000 21,411.70 -1.02%
  • Russell 1000 Growth 960.28 -1.08%
  • Russell 1000 Value 1,028.78 -1.03%
  • S&P 500 Consumer Staples 497.83 -2.14%
  • Solactive US Cyclical 140.80 -1.17%
  • Morgan Stanley Technology 1,014.75 -1.85%
  • Transports 9,098.98 -.87%
  • Utilities 621.61 -1.10%
  • Bloomberg European Bank/Financial Services 103.96 -.39%
  • MSCI Emerging Markets 39.10 +.24%
  • HFRX Equity Hedge 1,181.31 +.21%
  • HFRX Equity Market Neutral 987.26 -.14%
Sentiment/Internals
  • NYSE Cumulative A/D Line 231,214 -.34%
  • Bloomberg New Highs-Lows Index -208 -261
  • Bloomberg Crude Oil % Bulls 25.0 -20.46%
  • CFTC Oil Net Speculative Position 281,649 -.86%
  • CFTC Oil Total Open Interest 1,428,829 -3.19%
  • Total Put/Call 1.20 +66.67%
  • OEX Put/Call 2.33 +13.11%
  • ISE Sentiment 71.0 -26.04%
  • NYSE Arms 1.28 +8.48%
  • Volatility(VIX) 17.79 +23.80%
  • S&P 500 Implied Correlation 65.82 -2.01%
  • G7 Currency Volatility (VXY) 9.82 +.82%
  • Emerging Markets Currency Volatility (EM-VXY) 10.76 -.28%
  • Smart Money Flow Index 17,085.11 -1.60%
  • ICI Money Mkt Mutual Fund Assets $2.733 Trillion +.72%
  • ICI US Equity Weekly Net New Cash Flow -$1.063 Billion
  • AAII % Bulls 51.7 +1.6%
  • AAII % Bears 19.3 +2.3%
Futures Spot Prices
  • CRB Index 228.41 -2.94%
  • Crude Oil 52.69 -5.66%
  • Reformulated Gasoline 143.34 -6.42%
  • Natural Gas 3.0 -1.0%
  • Heating Oil 179.57 -6.69%
  • Gold 1,186.20 +.94%
  • Bloomberg Base Metals Index 180.15 -.46%
  • Copper 281.75 -1.07%
  • US No. 1 Heavy Melt Scrap Steel 308.33 USD/Ton -.2%
  • China Iron Ore Spot 71.26 USD/Ton +5.8%
  • Lumber 327.60 -3.45%
  • UBS-Bloomberg Agriculture 1,208.39 -3.85%
Economy
  • ECRI Weekly Leading Economic Index Growth Rate -3.9% -60 basis points
  • Philly Fed ADS Real-Time Business Conditions Index .6752 -5.02%
  • S&P 500 Blended Forward 12 Months Mean EPS Estimate 125.74 +.10%
  • Citi US Economic Surprise Index 28.30 -10.3 points
  • Citi Eurozone Economic Surprise Index 9.0 +5.7 points
  • Citi Emerging Markets Economic Surprise Index -11.90 +2.0 points
  • Fed Fund Futures imply 50.0% chance of no change, 50.0% chance of 25 basis point cut on 1/28
  • US Dollar Index 91.08 +1.28%
  • Euro/Yen Carry Return Index 151.03 -1.35%
  • Yield Curve 145.0 -6.0 basis points
  • 10-Year US Treasury Yield 2.11% -14.0 basis points
  • Federal Reserve's Balance Sheet $4.470 Trillion +.17%
  • U.S. Sovereign Debt Credit Default Swap 16.77 +4.57%
  • Illinois Municipal Debt Credit Default Swap 171.0 -5.76%
  • Western Europe Sovereign Debt Credit Default Swap Index 24.97 -6.43%
  • Asia Pacific Sovereign Debt Credit Default Swap Index 68.39 +6.13%
  • Emerging Markets Sovereign Debt CDS Index 319.76 +6.28%
  • Israel Sovereign Debt Credit Default Swap 77.24 +3.22%
  • Iraq Sovereign Debt Credit Default Swap 367.79 -2.50%
  • Russia Sovereign Debt Credit Default Swap 482.65 +9.97%
  • China Blended Corporate Spread Index 342.45 +1.17%
  • 10-Year TIPS Spread 1.71% +3.0 basis points
  • TED Spread 24.0 -1.5 basis points
  • 2-Year Swap Spread 22.75 +4.25 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -14.75 -.5 basis point
  • N. America Investment Grade Credit Default Swap Index 66.62 +4.17% 
  • America Energy Sector High-Yield Credit Default Swap Index 648.0 +2.30%
  • European Financial Sector Credit Default Swap Index 63.07 +1.25%
  • Emerging Markets Credit Default Swap Index 345.25 +6.05%
  • CMBS AAA Super Senior 10-Year Treasury Spread  to Swaps 89.0 +1.0 basis point
  • M1 Money Supply $2.908 Trillion +.56%
  • Commercial Paper Outstanding 1,007.40 -4.20%
  • 4-Week Moving Average of Jobless Claims 290,750 +500
  • Continuing Claims Unemployment Rate 1.8% unch.
  • Average 30-Year Mortgage Rate 3.87% +4 basis points
  • Weekly Mortgage Applications 363.10 n/a
  • Bloomberg Consumer Comfort 42.7 -.4 point
  • Weekly Retail Sales +4.70% +30 basis points
  • Nationwide Gas $2.23/gallon -.09/gallon
  • Baltic Dry Index 782.0 -3.93%
  • China (Export) Containerized Freight Index 1,064.42 +2.70%
  • Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 32.50 unch.
  • Rail Freight Carloads 181,238 -33.60%
Best Performing Style
  • Small-Cap Value -.5%
Worst Performing Style
  • Large-Cap Growth -1.1%
Leading Sectors
  • Gold & Silver +5.9%
  • Airlines +2.9%
  • Biotech +2.2%
  • Homebuilders +1.5%
  • REITs +.2%
Lagging Sectors
  • Hospitals -2.5% 
  • Oil Tankers -2.6%
  • Software -2.9%
  • Computer Hardware -3.2%
  • Education -3.3%
Weekly High-Volume Stock Gainers (3)
  • IPHI, REMY and ADMS
Weekly High-Volume Stock Losers (0)
  • None
Weekly Charts
ETFs
  • High-Volume Gainers
  • High-Volume Losers
Stocks
  • High-Volume Gainers
  • High-Volume Losers
*5-Day Change
0 comments

Stocks Reversing Lower into Final Hour on Rising Global Growth Fears, Emerging Markets Debt Angst, Technical Selling, Gaming/Homebuilding Sector Weakness

Posted by Gary .....at 3:12 PM
Broad Equity Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Most Sectors Declining
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 18.31 -4.64%
  • Euro/Yen Carry Return Index 150.95 -.29%
  • Emerging Markets Currency Volatility(VXY) 10.76 -.37%
  • S&P 500 Implied Correlation 66.59 -1.97%
  • ISE Sentiment Index 64.0 +10.34%
  • Total Put/Call 1.23 +30.85%
  • NYSE Arms 1.45 -24.82% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 67.09 +1.11%
  • America Energy Sector High-Yield CDS Index 641.0 +1.3%
  • European Financial Sector CDS Index 62.87 -6.73%
  • Western Europe Sovereign Debt CDS Index 24.97 -8.47%
  • Asia Pacific Sovereign Debt CDS Index 68.39 +1.64%
  • Emerging Market CDS Index 346.75 +2.51%
  • China Blended Corporate Spread Index 342.45 +3.32%
  • 2-Year Swap Spread 22.75 -.25 basis point
  • TED Spread 22.50 -1.5 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -14.75 -.25 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .02% -2.0 basis points
  • Yield Curve 146.0 -5.0 basis points
  • China Import Iron Ore Spot $71.26/Metric Tonne unch.
  • Citi US Economic Surprise Index 28.30 -6.4 points
  • Citi Eurozone Economic Surprise Index 9.0 -1.2 points
  • Citi Emerging Markets Economic Surprise Index -11.90 +.5 point
  • 10-Year TIPS Spread 1.71 +3.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +25 open in Japan
  • DAX Futures: Indicating +3 open in Germany
Portfolio: 
  • Higher: On gains in my biotech/tech sector longs, index hedges and emerging markets shorts 
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 25% Net Long
0 comments

Today's Headlines

Posted by Gary .....at 2:52 PM
Bloomberg:
  • U.S. Slaps New Sanctions on North Korea in Response to Sony Hack. President Barack Obama today tightened U.S. sanctions on North Korea, targeting 10 individuals and three state agencies in response to the hacking of Sony Corp. and threats of violence against theaters and movie-goers. In an executive order, Obama authorized the Treasury Department to block the individuals and agencies from accessing the U.S. financial system and banning U.S. citizens from engaging in business with them. The sanctions represent the first official measures taken by the U.S. government in response to the cyber-assault on Sony Pictures Entertainment’s computer system, an attack that Obama promised last month to address “in a place and time and manner that we choose.”
  • Macau Suffers Worst Year for Casinos Amid China Crackdown. Macau’s casinos recorded their worst year, ending a decade of expansion that turned the former Portuguese enclave into the world’s biggest gambling hub. More tough times are ahead. Casino revenue in the city fell 2.6 percent to 351.5 billion patacas ($44 billion) in 2014, after a record 30.4 percent monthly drop in December, according to figures from Macau’s Gaming Inspection and Coordination Bureau today. Analysts projected a 2 percent annual decline, based on the median of nine estimates in a Bloomberg News survey. 
  • Russia and Iraq Supply Most Oil In Decades Amid 2015 Glut. Oil supplies in Iraq and Russia surged to the highest level in decades, signaling no respite in early 2015 from the glut that has pushed crude prices to their lowest in five years. Russian oil production rose 0.3 percent in December to a post-Soviet record of 10.667 million barrels a day, according to preliminary data e-mailed today by CDU-TEK, part of the Energy Ministry. Iraq exported 2.94 million barrels a day in December, the most since the 1980s, said Oil Ministry spokesman Asim Jihad. The countries provided 15 percent of the world’s oil in November, according to the International Energy Agency.
  • Draghi Prepares to Act Against Risk of Deflation. Mario Draghi gave his strongest signal yet that the European Central Bank is likely to start large-scale government-bond purchases by saying he can’t rule out deflation in the euro area.
  • Euro Forecasters See Pain After Worst Year Since 2005. Midway through European Central Bank President Mario Draghi’s May press conference in Brussels, the euro rose to its strongest level during his tenure. Then he said the ECB was ready to introduce more stimulus measures, sending it into a slide that strategists say will extend into 2015. Europe’s common currency, which appreciated to $1.3993 that May day, ended last year down 12 percent against the dollar, its biggest loss since 2005. Strategists, who were too timid with their call for a decline in 2014 to $1.28, now see a slump to $1.18 by the end of this year. The euro set a four-year low of $1.2009 today. 
  • Emerging Stocks Drop as Brazil Slump. Emerging-market stocks fell as a probe of Brazil’s state-run oil company pushed the Ibovespa to its steepest drop in three weeks, outweighing a rally in Chinese shares traded in Hong Kong. Petroleo Brasileiro SA plunged 5.9 percent after Brazil’s securities regulator on Dec. 30 opened an inquiry into the company, which is already at the center of the biggest corruption investigation in the country’s history. China Vanke Co. (2202) jumped 11 percent to lead the Hang Seng China Enterprises Index in Hong Kong to a 2011 high. India’s stock gauge advanced 1.4 percent as the government pledged to build more roads. The MSCI Emerging Markets Index fell 0.4 percent to 952.46 at 2:03 p.m. in New York. The Ibovespa tumbled 3.1 percent.
  • Europe Stocks Fall After Posting Smallest Year Gain Since 1992. European stocks declined on the first trading day of the year after completing the smallest annual advance since 1992. The Stoxx Europe 600 Index slipped 0.4 percent to 341.33 at the close of trading, paring earlier losses of as much as 0.7 percent. The gauge had earlier risen as much as 0.6 percent before falling as a measure of euro-area manufacturing expanded less in December than initially estimated. The number of shares changing hands in Stoxx 600-listed companies was 36 percent lower than the average of the past 30 days, data compiled by Bloomberg showed. The Swiss market was closed for a holiday.
  • Oil Falls to 5 1/2-Year Low as Russia, Iraq Boost Output. Oil dropped to the lowest since May 2009 amid growing supply from Russia and Iraq and signs of manufacturing weakness in Europe and China. Futures headed for a sixth weekly loss in New York and London. Oil output in Russia and Iraq surged to the highest level in decades in December, according to data from both countries’ governments. Euro-area factory output expanded less than initially estimated in December. A manufacturing gauge in China, the world’s second-largest oil consumer, fell to the weakest level in 18 months, government data showed yesterday. Brent for February settlement fell 67 cents, or 1.2 percent, to $56.66 a barrel on the London-based ICE Futures Europe exchange at 1:28 p.m. in New York. It declined to $55.48, the lowest since May 7, 2009.
  • Copper Drops to 4-Year Low as China Manufacturing Slows. Copper for delivery in three months dropped 0.7 percent to settle at $6,255 a metric ton ($2.84 a pound) at 5:50 p.m. on the London Metal Exchange. The commodity touched $6,218, the lowest since June 2010. Prices capped a third-straight weekly loss, the longest slump since Oct. 3. 
  • Treasuries Climb as Yield Advantage at Almost Highest Since 1999. Treasuries rose, poised for their first weekly gain in three weeks, as U.S. 10-year notes yielded almost the most in 15 years versus their German-government peers. U.S. bonds extended gains after a gauge of American manufacturing fell more than forecast and construction spending unexpectedly dropped. German 10-year bund yields slid to a record after European Central Bank President Mario Draghi said he can’t exclude the risk of deflation, fueling speculation the ECB will soon start buying government bonds. The dollar rose versus all 16 major peers and reached parity with the Swiss franc for the first time since 2010.
ZeroHedge: 
  • The Elephant Dragon In The Room: China's Hard Landing, In 21 Charts. (graph)
  • Another Shale-Bubble Bursts: Oil's Plunge Is Not 'Unequivocally Good" For This Group. (graph)
  • Low Prices Lead To Layoffs In The Oil Patch.
  • These 19 States Just Hiked The Minimum Wage: Here Come The "Unintended Consequences".
  • Turkmenistan Devalues Currency By 18%, Armstrong Warns Of "Economic Collapse On A Global Scale". (graph)
  • Contrarianism And The Danger Of Taking Hugh Hendry's "Blue Pill".
  • 5Y German Bond Yield Goes Negative For First Time Ever. (graph)
  • ISM Manufacturing & Construction Spending Collapse To 6-Month Lows. (graph)
  • Decoupling Just Died: December New Orders Plunge Below Polar Vortex Level, Optimism Plummets To 2012 Levels. (graph)
  • Un-Decoupling? US Manufacturing PMI Tumbles To 11-Month Lows. (graph)
Business Insider: 
  • Aviation Experts Think The AirAsia Flight Landed Safely In The Sea Before Sinking.
  • Greece's Upcoming Election Just Got More More Complicated.
  • Greece's Political Crisis Might Force It Out Of The Euro.
Reuters: 
  • EMERGING MARKETS-Brazil's real sinks as central bank reduces intervention.
Telegraph: 
  • French 'rock star' economist Thomas Piketty refuses highest honour. Author of Capital in the 21st Century says it is not the government's role to "decide who is honourable". 
  • House price concerns grow as mortgage approvals hit a 17-month low. Data from the Bank of England is the latest to suggest weakening demand in the property market. 
Deutsche Welle:
  • Soaring dollar hurts emerging markets. (video) The US dollar is soaring and that's hurting emerging economies with debt denominated in dollars. At the same time, the global decline in commodities prices means they earn fewer dollars to pay down that debt.
0 comments

Bear Radar

Posted by Gary .....at 1:18 PM
Style Underperformer:
  • Small-Cap Growth -1.23%
Sector Underperformers:
  • 1) Gaming -2.75% 2) Homebuilders -2.22% 3) Steel -2.02%
Stocks Falling on Unusual Volume:
  • LOCK, WTW, NRX, JBSS, REMY, SSL, GXP, PRO, RESN, IPHI, OZRK, HI, CEMP, LJPC, SYNA, FDML, DIN, DSPG, CPF, LPL, XRAY, MGPI, KNDI, KIRK and IGOV
Stocks With Unusual Put Option Activity:
  • 1) UPS 2) MDR 3) COH 4) AIG 5) TXN
Stocks With Most Negative News Mentions:
  • 1) SYNA 2) WTW 3) GM 4) NSC 5) AAPL
Charts:
  • ETFs Falling on Unusual Volume
  • Stocks Falling on Unusual Volume
0 comments

Bull Radar

Posted by Gary .....at 11:28 AM
Style Outperformer:
  • Large-Cap Value -.45%
Sector Outperformers:
  • 1) Gold & Silver +.98% 2) REITs +.88% 3) Drugs +.04%
Stocks Rising on Unusual Volume:
  • PWRD, LINE and LNCO
Stocks With Unusual Call Option Activity:
  • 1) MNKD 2) GME 3) BBBY 4) CERS 5) TLT
Stocks With Most Positive News Mentions:
  • 1) RAD 2) BBBY 3) LH 4) FNF 5) ABBV
Charts:
  • ETFs Rising on Unusual Volume 
  • Stocks Rising on Unusual Volume
0 comments

Thursday, January 01, 2015

Friday Watch

Posted by Gary .....at 11:14 PM
Evening Headlines 
Bloomberg:
  • Ukrainian Army and Rebels Trade Blame Amid Warning of Hard 2015. Separatist rebels fired on Ukrainian forces 23 times on New Year’s eve, wounding three soldiers, the country’s military spokesman said. Nobody was killed during the incidents in Ukraine’s eastern regions of Donetsk and Luhansk in the past 24 hours, Andriy Lysenko, the spokesman, told reporters in Kiev today. Five “enemy” drones were also spotted in the conflict-affected areas overnight, he said, while a soldier who had been “abducted by bandits” was freed by Ukrainian special forces. Militants made “numerous attempts to provoke Ukrainian servicemen” in order to blame the military for violations of a cease-fire, Lysenko said. Rebels continue to receive supplies of weapons from across the Russian border, he said.
  • China Developer Kaisa’s Bonds Plunge After Loan Default. Bonds of Kaisa Group Holdings Ltd. plunged to record lows after the Chinese developer defaulted on a loan following the resignation of its chairman. The developer’s $800 million of 8.875 percent notes due 2018 and sold to investors at par in March 2013 tumbled to 43.087 cents on the dollar as of 10:11 a.m. in Hong Kong, from 66.263 cents on the dollar on Dec. 31, sending yields to 43.285 percent. Its $500 million of 10.25 percent debentures due 2020 slid to 38.683 cents on the dollar to yield 38.984 percent. The securities were sold to investors at 100 cents on the dollar in January 2013.
  • Singapore GDP Rose Less Than Estimated as Manufacturing Shrank. Singapore’s economy expanded less than economists estimated last quarter after its manufacturing industry weakened with slowing growth in China and an uneven global recovery. Gross domestic product rose an annualized 1.6 percent in the three months to Dec. 31 from the previous quarter, when it expanded 3.1 percent, the trade ministry said in a statement today. The median of five estimates in a Bloomberg News survey was for a 3 percent expansion.
  • Singapore Home Prices Post Longest Losing Streak in Decade. Singapore’s home prices dropped for a fifth consecutive quarter, the longest losing streak in more than a decade, as tighter mortgage curbs cooled demand in Asia’s second-most expensive housing market. An index tracking private residential prices fell 1 percent to 205.8 points in the three months ended Dec. 31, the longest stretch of declines since March 2004 and bringing the slide to 4.9 percent from the record high set in September 2013, according to preliminary data released by the Urban Redevelopment Authority today.
  • New Year's Stampede Kills 36 in Shanghai as Massive Holiday Approaches. China demanded a review of crowd-safety procedures as dozens of people remain in Shanghai’s hospitals after a deadly stampede on New Year’s Eve killed 36 and caused the cancellation of celebrations across the city. At least 47 people were injured, including 40 still serious enough to required hospitalization, the Shanghai government said on its website. The stampede -- the city’s deadliest disaster since 2010 -- started about 11:35 p.m. on New Year’s Eve as tens of thousands of people crowded into the historic Bund riverside district for a light show.
  • Hyundai and Kia Forecast Slowest Sales Growth in Nine Years. Hyundai Motor Co. (005380) and Kia Motors Corp. (000270), South Korea’s largest automakers, forecast their weakest sales growth in nine years as they run out of capacity to increase output and competition intensifies in major markets. The companies’ combined deliveries will rise 2.5 percent to 8.2 million vehicles in 2015, Chung Mong Koo, chairman of both automakers, said during a New Year address to employees in Seoul today. That would be the slowest growth since 2006. The forecast was in line with analysts’ estimate of 8.2 million units this year, based on the median of five estimates in a Bloomberg News survey. 
  • Dollar Rises to Five-Year High as U.S. Index Futures, Oil Climb. The dollar rose to its highest level in more than five years and U.S. stock-index futures advanced before the release of American factory data. Oil gained with silver, while tin dropped. The Bloomberg Dollar Spot Index strengthened 0.3 percent at 10:41 a.m. in Hong Kong. The yen retreated 0.5 percent and the euro headed for its lowest level since June 2010.
  • Commoditie Cap Record Losing Run on Crude Oil to Dollar. Commodities capped the biggest annual loss since the global financial crisis in 2008, retreating for a record fourth year,as a global glut spurred a rout in oil prices and a stronger dollar cut the allure of raw materials. The Bloomberg Commodity Index (BCOM), which tracks 22 products from crude to copper, ended 1.7 percent lower at 104.3285 points yesterday, after dropping as much as 1.8 percent to the lowest since March 2009 earlier. It lost 17 percent last year, with crude, gasoline and heating oil the biggest decliners. The fourth year of losses was the longest run since at least 1991.
Wall Street Journal:
  • Overseas Headwinds Test U.S. Economy. Nation’s Biggest Challenge Is Doldrums Abroad.  
  • Housing Market Enters 2015 Facing Affordability Pressures. Few Signs of Breakout or Sharp Slowdown for Sector.
Fox News:
  • First AirAsia victim's body identified as search hampered by bad weather.
MarketWatch.com:
  • 10 ‘gray swans’ that could upend the market in 2015. 
Zero Hedge:
  • Congressman Confirms Foreign Central Banks Buying US Stock Futures Is Good For Liquidity.
  • S&P 500 Closes 2014 Weak, Up 6th Year In A Row; Treasuries Triple Dow's Gains.
  • As Greek Default Risk Soars To 66%, Morgan Stanley Warns ECB May Be Unable To Launch QE.
  • UK Literally Runs Out Of Bricks In Scramble To Build Unprecedented Housing Bubble. (graph)
  • Forget Toasters & Spiderman Towels, Chinese Banks Lure New Deposits With iPhones & Mercedes.
  • Occam's Oil. (graph)
  • Weaponized Ebola? ISIS Militants Said To Contract Deadly Virus.
  • The Best And Worst Hedge Funds Of 2014, And Everyone Inbetween. (table)
  • "Audit The Fed" Bill Gains Momentum, Yellen Starts Damage Control.
  • The Japanese Stock-Buying Greatest Fool Uncovered: France. (graph)
Business Insider:
  • The Most Hilarious Chart Of 2014. (graph)
  • Here's How Every Major Asset Class On The Planet Did In 2014.
  • 2015 Will Be The Year Of Dollar Danger For The World.
  • Poroshenko To Ukraine: This Year Will Not Be Easy.
  • Report: Syria's War Killed More Than 33,000 Civilians In 2014.
  • China Is Sputtering.
  • The Euro Is Starting The Year At New Lows.
Reuters:
  • Brazil's Rousseff vows budget cuts, anti-corruption push in 2nd term. Brazil's President Dilma Rousseff began her second term Thursday vowing to rein in government spending to curb inflation and pull Latin America's largest economy out of a four-year slump.
Telegraph:
  • Greek expulsion from the euro would demolish EMU’s contagion firewall. Should EMU leaders choose to cut off liquidity support for the Greek banking system they might find that their contagion defences are a fiction.
Evening Recommendations 
  • None of note
Night Trading
  • Asian equity indices are -.25% to +.50% on average.
  • Asia Ex-Japan Investment Grade CDS Index 109.0 +3.0 basis points.
  • Asia Pacific Sovereign CDS Index 67.25 +.25 basis point.
  • S&P 500 futures +.46%.
  • NASDAQ 100 futures  +.46%.
Morning Preview Links

Earnings of Note

Company/Estimate
  • None of note
Economic Releases
9:45 am EST
  • Final Markit US Manufacturing PMI for December is estimated to rise to 54.0 versus a prior estimate of 53.7.
10:00 am EST
  • Construction Spending for November is estimated to rise +.4% versus a +1.1% gain in October.
  • ISM Manufacturing for December is estimated to fall to 57.5 versus 58.7 in November.
  • ISM Prices Paid for December is estimated to fall to 44.0 versus 44.5 in November. 
Upcoming Splits
  • (GNTX) 2-for-1
Other Potential Market Movers
  • The Fed's Mester speaking, Eurzone PMI report, China Services PMI report and the (RAD) sales update could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by commodity and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
0 comments
Newer Posts Older Posts Home
Subscribe to: Posts (Atom)

Follow BETWEEN THE HEDGES on Twitter

Follow @BtweenTheHedges

Subscribe To BETWEEN THE HEDGES

Posts
Atom
Posts
All Comments
Atom
All Comments

Search BETWEEN THE HEDGES

Google
Custom Search

Search the Web with DuckDuckGo

Search the Web with Google

Futures

Track all markets on TradingView

Today's Economic Calender

Real Time Economic Calendar provided by Investing.com.
A Twitter List by BtweenTheHedges

NEWSMAX Live

BETWEEN THE HEDGES Recent Visitor Map

BTH Page Views/Month

BTH Unique Visitors Since February 1, 2004

Breaking911 Alerts

Tweets by Breaking911

All Links - By Category

  • Global News
  • U.S. News
  • Video News
  • Terrorism/War
  • Media/Political Watchdogs
  • Financial News
  • Financial Portals
  • Financial Commentary
  • I-Banks
  • Economic Portals
  • Economic Commentary
  • Central Bank Notes
  • Market Readings
  • Trader's Corner
  • Calendars/Schedules
  • Sentiment/Indicators
  • Commodities/Futures
  • Trading Portals
  • Sector Work
  • Trade Journals/Publications
  • Screens and Scans
  • Quotes
  • Stock-Specific Research
  • Charts of Interest
  • Hedge Fund Information
  • Sites of Interest
  • Blogs of Note

Blog Archive

  • ▼  2025 (760)
    • ▼  July (81)
      • Weekly Scoreboard*
      • Stocks Rising into Afternoon on US-Global Trade De...
      • Monday's Earnings/Economic Releases of Note; Marke...
      • Friday Watch
      • Stocks Modestly Higher into Final Hour on US-Globa...
      • Bear Radar
      • Bull Radar
      • Tomorrow's Earnings/Economic Releases of Note; Mar...
      • Mid-Day Market Internals
      • Thursday Watch
      • Stocks Surging into Final Hour on US-Global Trade ...
      • Bear Radar
      • Bull Radar
      • Tomorrow's Earnings/Economic Releases of Note; Mar...
      • Mid-Day Market Internals
      • Wednesday Watch
      • Stocks Reversing Higher into Final Hour on Falling...
      • Bull Radar
      • Tomorrow's Earnings/Economic Releases of Note; Mar...
      • Mid-Day Market Internals
      • Tuesday Watch
      • Stocks Modestly Higher into Final Hour on Falling ...
      • Bull Radar
      • Tomorrow's Earnings/Economic Releases of Note; Mar...
      • Afternoon Market Internals
      • Monday Watch
      • Wednesday Watch
      • Stocks Reversing Lower into Final Hour on Surging ...
      • Bear Radar
      • Bull Radar
      • Tomorrow's Earnings/Economic Releases of Note; Mar...
      • Mid-Day Market Internals
      • Tuesday Watch
      • Stocks Reversing Higher into Final Hour on US-Glob...
      • Bear Radar
      • Bull Radar
      • Tomorrow's Earnings/Economic Releases of Note; Mar...
      • Mid-Day Market Internals
      • Monday Watch
      • Today's Headlines
      • Weekly Scoreboard*
      • Stocks Slight Lower into Afternoon on Rising Long-...
      • Monday's Earnings/Economic Releases of Note; Marke...
      • Friday Watch
      • Stocks Higher into Final Hour on Stable Long-Term ...
      • Bear Radar
      • Bull Radar
      • Tomorrow's Earnings/Economic Releases of Note; Mar...
      • Mid-Day Market Internals
      • Thursday Watch
      • Stocks Rising into Final Hour on Falling Long-Term...
      • Bear Radar
      • Bull Radar
      • Tomorrow's Earnings/Economic Releases of Note; Mar...
      • Mid-Day Market Internals
      • Wednesday Watch
      • Stocks Slightly Lower into Final Hour on Higher Lo...
      • Bear Radar
      • Bull Radar
      • Tomorrow's Earnings/Economic Releases of Note; Mar...
      • Mid-Day Market Internals
      • Tuesday Watch
      • Stocks Lower into Final Hour on Higher Long-Term R...
      • Bear Radar
      • Bull Radar
      • Tomorrow's Earnings/Economic Releases of Note; Mar...
      • Mid-Day Market Internals
      • Monday Watch
      • Today's Headlines
      • Evening Headlines
      • Stocks Rising into Close on US-Global Trade Deal O...
      • Thursday Watch
      • Stocks Rising into Final Hour on US-Global Trade D...
      • Bear Radar
      • Bull Radar
      • Tomorrow's Earnings/Economic Releases of Note; Mar...
      • Mid-Day Market Internals
      • Wednesday Watch
      • Stocks Slightly Higher into Final Hour on BBB Pass...
      • Bull Radar
      • Afternoon Market Internals
    • ►  June (118)
    • ►  May (119)
    • ►  April (115)
    • ►  March (104)
    • ►  February (111)
    • ►  January (112)
  • ►  2024 (1320)
    • ►  December (115)
    • ►  November (97)
    • ►  October (117)
    • ►  September (112)
    • ►  August (88)
    • ►  July (88)
    • ►  June (100)
    • ►  May (118)
    • ►  April (120)
    • ►  March (108)
    • ►  February (121)
    • ►  January (136)
  • ►  2023 (1381)
    • ►  December (124)
    • ►  November (113)
    • ►  October (141)
    • ►  September (130)
    • ►  August (96)
    • ►  July (81)
    • ►  June (88)
    • ►  May (140)
    • ►  April (127)
    • ►  March (123)
    • ►  February (121)
    • ►  January (97)
  • ►  2022 (1108)
    • ►  December (84)
    • ►  November (93)
    • ►  October (93)
    • ►  September (97)
    • ►  August (93)
    • ►  July (91)
    • ►  June (85)
    • ►  May (91)
    • ►  April (94)
    • ►  March (87)
    • ►  February (97)
    • ►  January (103)
  • ►  2021 (1153)
    • ►  December (100)
    • ►  November (99)
    • ►  October (113)
    • ►  September (111)
    • ►  August (94)
    • ►  July (96)
    • ►  June (79)
    • ►  May (98)
    • ►  April (96)
    • ►  March (78)
    • ►  February (91)
    • ►  January (98)
  • ►  2020 (1262)
    • ►  December (115)
    • ►  November (103)
    • ►  October (106)
    • ►  September (109)
    • ►  August (113)
    • ►  July (101)
    • ►  June (105)
    • ►  May (115)
    • ►  April (104)
    • ►  March (85)
    • ►  February (91)
    • ►  January (115)
  • ►  2019 (1264)
    • ►  December (114)
    • ►  November (90)
    • ►  October (116)
    • ►  September (107)
    • ►  August (101)
    • ►  July (106)
    • ►  June (87)
    • ►  May (116)
    • ►  April (103)
    • ►  March (105)
    • ►  February (104)
    • ►  January (115)
  • ►  2018 (1337)
    • ►  December (90)
    • ►  November (93)
    • ►  October (124)
    • ►  September (108)
    • ►  August (124)
    • ►  July (93)
    • ►  June (112)
    • ►  May (117)
    • ►  April (112)
    • ►  March (118)
    • ►  February (118)
    • ►  January (128)
  • ►  2017 (1503)
    • ►  December (115)
    • ►  November (120)
    • ►  October (125)
    • ►  September (116)
    • ►  August (132)
    • ►  July (113)
    • ►  June (139)
    • ►  May (132)
    • ►  April (119)
    • ►  March (140)
    • ►  February (120)
    • ►  January (132)
  • ►  2016 (1521)
    • ►  December (119)
    • ►  November (124)
    • ►  October (117)
    • ►  September (125)
    • ►  August (140)
    • ►  July (116)
    • ►  June (137)
    • ►  May (131)
    • ►  April (125)
    • ►  March (145)
    • ►  February (128)
    • ►  January (114)
  • ►  2015 (1552)
    • ►  December (131)
    • ►  November (128)
    • ►  October (140)
    • ►  September (141)
    • ►  August (139)
    • ►  July (145)
    • ►  June (138)
    • ►  May (136)
    • ►  April (131)
    • ►  March (120)
    • ►  February (99)
    • ►  January (104)
  • ►  2014 (1332)
    • ►  December (109)
    • ►  November (101)
    • ►  October (118)
    • ►  September (113)
    • ►  August (110)
    • ►  July (111)
    • ►  June (103)
    • ►  May (116)
    • ►  April (114)
    • ►  March (112)
    • ►  February (106)
    • ►  January (119)
  • ►  2013 (1360)
    • ►  December (112)
    • ►  November (110)
    • ►  October (121)
    • ►  September (106)
    • ►  August (114)
    • ►  July (116)
    • ►  June (108)
    • ►  May (122)
    • ►  April (120)
    • ►  March (110)
    • ►  February (104)
    • ►  January (117)
  • ►  2012 (1321)
    • ►  December (87)
    • ►  November (111)
    • ►  October (117)
    • ►  September (107)
    • ►  August (121)
    • ►  July (114)
    • ►  June (111)
    • ►  May (106)
    • ►  April (112)
    • ►  March (121)
    • ►  February (109)
    • ►  January (105)
  • ►  2011 (1360)
    • ►  December (111)
    • ►  November (113)
    • ►  October (115)
    • ►  September (115)
    • ►  August (118)
    • ►  July (107)
    • ►  June (122)
    • ►  May (105)
    • ►  April (111)
    • ►  March (123)
    • ►  February (107)
    • ►  January (113)
  • ►  2010 (1496)
    • ►  December (119)
    • ►  November (111)
    • ►  October (116)
    • ►  September (107)
    • ►  August (116)
    • ►  July (116)
    • ►  June (116)
    • ►  May (107)
    • ►  April (117)
    • ►  March (176)
    • ►  February (148)
    • ►  January (147)
  • ►  2009 (1863)
    • ►  December (159)
    • ►  November (151)
    • ►  October (165)
    • ►  September (156)
    • ►  August (161)
    • ►  July (166)
    • ►  June (162)
    • ►  May (133)
    • ►  April (154)
    • ►  March (165)
    • ►  February (137)
    • ►  January (154)
  • ►  2008 (2002)
    • ►  December (158)
    • ►  November (139)
    • ►  October (161)
    • ►  September (164)
    • ►  August (181)
    • ►  July (172)
    • ►  June (173)
    • ►  May (160)
    • ►  April (194)
    • ►  March (165)
    • ►  February (166)
    • ►  January (169)
  • ►  2007 (1586)
    • ►  December (172)
    • ►  November (111)
    • ►  October (143)
    • ►  September (118)
    • ►  August (137)
    • ►  July (129)
    • ►  June (126)
    • ►  May (139)
    • ►  April (123)
    • ►  March (138)
    • ►  February (122)
    • ►  January (128)
  • ►  2006 (1516)
    • ►  December (116)
    • ►  November (121)
    • ►  October (143)
    • ►  September (126)
    • ►  August (140)
    • ►  July (132)
    • ►  June (128)
    • ►  May (127)
    • ►  April (117)
    • ►  March (129)
    • ►  February (112)
    • ►  January (125)
  • ►  2005 (1483)
    • ►  December (134)
    • ►  November (133)
    • ►  October (130)
    • ►  September (136)
    • ►  August (146)
    • ►  July (129)
    • ►  June (140)
    • ►  May (129)
    • ►  April (154)
    • ►  March (107)
    • ►  February (71)
    • ►  January (74)
  • ►  2004 (879)
    • ►  December (76)
    • ►  November (66)
    • ►  October (83)
    • ►  September (79)
    • ►  August (83)
    • ►  July (80)
    • ►  June (79)
    • ►  May (84)
    • ►  April (83)
    • ►  March (89)
    • ►  February (75)
    • ►  January (2)
  • ►  1990 (1)
    • ►  June (1)
This page is   powered by Blogger. Isn't yours?

All Rights Reserved © 2004-2025, BETWEEN THE HEDGES

The positions and strategies discussed on BETWEEN THE HEDGES are offered for entertainment purposes only and are in no way intended to serve as personal investing advice. Readers should not make any investment decision without first conducting their own thorough due diligence. Readers should assume the editor of this blog holds a position in any securities discussed, recommended or panned. While the information provided is obtained from sources believed to be reliable, its accuracy or completeness cannot be guaranteed, nor can this publication be, in anyway, considered liable for the investment performance of any securities or strategies discussed.

Powered by Blogger.