Archive for the ‘Morning Briefing’ Category
Squawk Morning Briefing: A Question of Answers
In Letters to a Young Poet Ranier Maria Rilke wrote, “Learn to love the questions themselves.” The implication we take from that quote is that there is beauty to be found in the uncertainty all around us. We should take some time and bask in glorious complexity of the things we don’t understand. Of course, […]
Squawk Morning Briefing: The Boy who Cried “Sheep”
We have been discussing for awhile the likelihood of a lasting top being formed. However, only price action can confirm a top is in place. So while we discuss the possibility, we need to wait to see when/if it is realized. Otherwise it would be crying wolf.
Contributing our view is the overwhelming sense of complacency […]
Squawk Morning Briefing: Have a Great Weekend
Today’s DJIA video inadvertently mentions that we’ll be back with an update tomorrow. Markets are closed tomorrow in observance of the Good Friday holiday and markets will be closed. There won’t be another update until Monday. We hope you enjoy your long weekend with family and friends.
Squawk Morning Briefing: Importance of Patience
Equity futures are up this morning and the Euro has made a new recovery high. This underscores the reason we are cautious at each possible top prior to seeing confirmation. We still think that we are seeing topping action, but we’ll continue to repeat that topping action is very different from a top.
It requires some […]
Squawk Morning Briefing: No Change, No Consensus
No real change to our outlook today. Kevin’s update has his latest take on a bearish take, if that is what is unfolding. David remains skeptical about whether the wave count clearly shows a top.
Squawk Morning Briefing: April Expiration Effect
Just to be clear, we have no idea whether or not we’ll get a precipitous decline in equities following April options expiration. We had previously discussed the idea that if it does occur then it would mimic the beginning of the largest decline seen since the 2009 low. While we have seen topping action there […]
Squawk Morning Briefing: Balanced Impact on OPEX
Traders seem disappointed with GOOG earnings after the bell yesterday and sent it down 30 points after hours. Wild moves on earnings seem the norm for this name and 30 points feels tame compared to some other quarters in this heavily-watched name.
Meanwhile, Chinese economic data likely has to be seen as a positive with GDP […]
Squawk Morning Briefing: OPEX Wild Cards
Conventional wisdom has it that traders have generally squared their positions toward the end of options expiration week. While that’s generally true, if unexpected events move the market late in the week then positions everyone had disregarded as about to expire worthless can be in play. In these cases, the effect of options about to […]
Squawk Morning Briefing: One Fallen Leaf…
With a trading room within walking distance of Walden Pond, it is sometimes compelling to ponder Henry David Thoreau. On a day when futures are up nearly 80 points (as of this writing) to reclaim most of Tuesday’s drop, it would seem that the passage is obvious, “…for if one leaf does not make a […]
Squawk Morning Briefing: Topping Action Vs. Top
We continue to see what looks like topping action and it is occurring as the market is extended to the upside giving a good reason to consider a turn. Price movement is particularly difficult to nail down into a definitive wave count right now and this isn’t inconsistent with the idea of a top. However, […]