NASDAQ

Tyler Durden's picture

Artist's Impression Of The Inevitable Nasdaq Endgame





Nasdaq 5,000 or bust (or maybe ...and bust). The following clip came to mind as we see the Nasdaq ceaselessy inflated day after day, defended as 'different this time' on every mainstream media channel, and increasingly focused on fewer and fewer large stocks...

 
Tyler Durden's picture

AAPL Tumble Sparks Stock Slump - Yellen Gains Gone





Stock market investors live by the Apple and die by the Apple... and with Apple's 2.5% drop today, broad stock market indices have cratered in the last few minutes retracing the gains accrued since Yellen started speaking yesterday...

 
Tyler Durden's picture

Stocks In Holding Pattern Following Blow-Off Top, Oblivious Of Fed's Warning Of "Stretched" Valuations





Following the first of two Janet Yellen testimonies to Congress, the market read between the lines of what the Fed Chairman said when she hinted that "the Fed needs confidence on recovery and inflation before beginning to raise rates" and realized that the case of a June rate hike is suddenly far less realistic than previously expected, as a result not only did we see another blowoff top in stocks to fresh all time highs, a move which sent the USD lower, has pushed the median EV/EBITDA multiple to the mid 11x (!) range and the forward PE to just shy of 18x ironically coming on a day when the Fed itself warned about "stretched" equity valuations, and led to brisk buying of global Treasurys across the board, pushing the 10 Year in the US back under 2%, and due to the global convergence trade (because if the Fed returns to QE, it will be forced to buy up Treasuries not just in the US but around the globe, since net issuance including CBs globally is now negative) and leading to today's German 5 Year bond auction pricing at a negative yield for the first time ever.

 
Tyler Durden's picture

This Is Why Hewlett-Packard Is Firing 58,000





The rich get richer and stock buybacks; the poor get poorer and pink slips. Rinse. Repeat.

 
Tyler Durden's picture

"This Shorting Opportunity Is As Great As 2007-2009", Billionaire Crispin Odey Warns





"For me the shorting opportunity looks as great as it was in 07/09, if only because people are still looking at what is hap-pening and believe that each event is an individual, isolated event. Whether it’s the oil price fall or the Swiss franc move, they’re seen as exceptions. ... we used all our monetary firepower to avoid the first downturn in 2007-09, so we are really at a dangerous point to try to counter the effects of a slowing China, falling commodities and EM incomes, and the ultimate First World effects.  This down cycle is likely to be remembered in a hundred years . Sadly this down cycle will cause a great deal of damage, precisely because it will happen despite the efforts of the central banks to thwart it."

 
Tyler Durden's picture

Chart Of The Day: The Run For Nasdaq All-Time Highs





While there are many that suggest there is "no bubble" in the financial markets at the current time, a simple look at the extreme elevation of prices over the last couple of years is eerily reminiscent of the late 90's. Given the very elevated levels of investor bullishness, margin debt and complacency, there is more than sufficient evidence that a mean reverting event is highly likely at some point. However, at the moment, the perceived "risk" by investors is "missing the run" rather than the potential destruction of capital if something goes wrong. This is the opposite of what "risk" management is about...

 
Tyler Durden's picture

What's Next For Oil And Gold: Thoughts From Eric Sprott, Rick Rule And Marc Faber





"The economy is booming, according to recent data. GDP grew by 2.6% annualized in the last quarter. And yet oil prices have dropped faster than they did in the crisis of 2008. The US dollar is at record strength. And the gold price has spiked in many currencies ... Something’s not right here." So says Eric Sprott in his latest report observing what may lie in store for oil and gold in the near future.

 
CalibratedConfidence's picture

Virtu Continues Profit Streak, Still One 1 Day Of Trading Losses In Over 5 Years, IPO In 2015 According To Latest S-1 Filing





Apparently it is beneficial to have Dick Grasso (former NYSE Chief Executive and Chairman) along with Jack Sander (former CME Chairman) and General John Abizaid (former head of US Central Command) on the company payroll. 

 
Tyler Durden's picture

What's Next For Greece, The Euro, And Markets?





A quick recap of the key implications of Friday’s Greek “deal”, and what it means for the future of the Eurozone, the common currency and capital markets.

 
Tyler Durden's picture

UBS Answers "What Could Go Wrong"





While certainly a revision is pending after today's latest, disastrous Eurogroup meeting after which the two sides are further apart from reaching a deal than a week earlier, here is the latest set of questions asked by UBS clients on the topic of "what could go wrong" with the biggest Swiss bank's mutedly optimistic outlook on the "global recovery" (aided no doubt by the biggest intervention of central banks in history) which is characterizes as "uneven", especially when one considered that even UBS itself admitted last week that a "dislocation" in the market (which is "underestimating Grexit Risks") is necessary in order to overcome the Greek impasses.

 
Tyler Durden's picture

Markets Quiet Ahead Of Eurogroup Summit; US On Holiday





It has been a quiet start to the week, with US equity futures and European stocks mostly unchanged with all eyes on what progress (if any) will be made between Greece and the Eurogroup, where the press conference is scheduled for 7:00 pm GMT (expect significant delays) in what is otherwise expected to be a relatively subdued day with the US away from market and a light macroeconomic calendar.

 
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