Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
My colleague “Dr. Data” from tastytrade sent this out today, which I think you might find interesting. It’s a table of the 30 components of the Dow Industrials with the month-by-month intraday price ranges. He has ranked them by volatility (Boeing the most volatility, Procter & Gamble the least). Click, on the image below for a bigger, more readable version.
When Fannie Mae and Freddie Mac are released from conservatorship, they will hold an offering to allow investors to buy more stock. However, some believe that as the companies stand now, investors wouldn’t buy shares of the government-sponsored enterprises.
In a report dated Thursday, analyst Dick Bove of Odeon Capital explained what former Fannie Mae Chief Financial Officer Timothy Howard said about the GSEs’ business models on a conference call this week. Bove said he continues to question why anyone would buy Fannie Mae or Freddie Mac stock. He also wonders “who would become so enamored with these companies that they might place hundreds of billions of dollars into them.”
Bove and Howard argue that as things stand with Fannie’s and Freddie’s business models, it may not be able to make money in their stocks at this point. Bove said the answer to this question isn’t tied up to the lawsuits or whether the government will see things as investors see them.
(more…)It has become quite evident that anyone who dares short this market needs to adopt a “smash and grab” attitude and simply cover whatever positions they have during those rare instances (like last Thursday) when the Fed briefly loses control. The fact we’ve soared about 2,200 Dow points in 36 hours based on absolutely nothing proves that.
As of today’s close, the S&P 500 Index (SPX) is currently in the ‘jaws of the alligator’ — Williams Alligator, to be precise, which is formed by three moving averages, each offset into the future — as shown on the following daily chart.
All three moving averages are curling down and the upper one has just crossed below the middle one…hinting of further weakness ahead. Today’s low touched the lower MA, which roughly converges with the 23.6% Fibonacci retracement level. A break and hold below today’s low of 2964.40, together with the crossing of the middle MA below the lower MA, could send the price down to the next Fibonacci retracement level (40%) at 2835, or even the 50% level at 2712.
(more…)The author may have a short position in Euronav
Euronav NV is the world’s largest listed tanker company. While the analysts’ bias is overwhelmingly positive we observe negative factors across its book and income-power components. We are agnostic on the tanker market however the company’s balance of risks deserves attention.
Get the entire 10-part series on Seth Klarman in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.
