Neither Here Nor There (QQQ,TLT,FB,IEF,SPY)

bs’d Neither Here Nor There (QQQ,TLT,FB,IEF,SPY) It happens all the time. The Mrs. goes out to buy some fish for Friday, and the boys and I are left lunchless, waiting all afternoon for the car to pull into the driveway. Sheesh. Not that we object to her having a few hours with Meave down at the Brutus Café on Plympton St. And I can certainly whip up a round of tomato, mayo and cheese sandwiches that the lads are downright fond of… But in the meanwhile, we still get to worrying. Oh, she’s never delayed too long – and certainly the habit is so common now that we should have faith that all’s well, and…

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Debauch of Self-Referential Verbiage! (FB,QQQ)

Debauch of Self-Referential Verbiage! (FB,QQQ) We’ve written literally dozens of letters in this space on the role of Facebook (NYSE:FB) in the market – and in the world at large. In fact, it was just months after the IPO was offered and the shares were trading in the $20ish range that we wrote As Goes Facebook, So Goes the World as part of our ‘Bourbon and Bayonets’ letter series. In that particular letter, we first introduced you to our thinking on the company. Thus spake fellow Normandy scribbler Matt McAbby back in May, 2013 – And five years later, that about sums up what happened – including the oxygen-deprived mockery part. But there’s more. This…

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Spies and Spycraft (FB,XLK)

Spies and Spycraft (FB,XLK) There’s lots to report today, so sit back and grabba java. We start with the following but of pithy wisdom straight from the leaders of our fair firm’s investment advisory board. And it goes like this – The more secrecy that exists in a state’s apparatus, the weaker the state is, and the more vulnerable it becomes to a widespread revolt or armed insurrection. Commit that to memory. We offer it up today, not only because our own fair commonwealth has far too much backroom subterfuge and chicanery, but more worrisome, because we’re moving in the wrong direction! We’re being ever more scrutinized, bureaucratized, analyzed and plain old watched – particularly…

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Washington Redeemed! (AAPL,EWP,CBOE,FB)

Washington Redeemed! (AAPL,EWP,CBOE,FB)   Never were fans of big government here at Normandy.  Don’t think it’s good for the overall health of the nation, nor for its better management or even for its longevity.   Never trusted it.  Always figured the goal was to put everyone on the payroll and then force feed them worthless currency.  Where else are the buzzturds gonna turn for a buck?!   Nope, always preferred the local brand of self-governance – really local! So the thought of someone – an outsider – coming to the big house ready to do battle with the forces-that-be was intriguing.  But whether Senor Trump actually fits that bill remains an open question.   We’ve…

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The Lord Giveth… (QQQ,DIA,VOX,HYG,CBOE,KKR,FB)

The Lord Giveth… (QQQ,DIA,VOX,HYG,CBOE,KKR,FB)   It’s hard to find anything negative to say about a market that has been on an even-keeled, upward trajectory for the last eight years.   You can mock what underpins its strength, you can deride the foolishness of those who’ve made millions just buying and sitting put, and you can wail like a newborn over the fundamental and technical excesses that are sure (eventually) to rock the very foundations of the financial edifice and send the global economy off the edge of the planet. And eventually, we admit, you’ll be right.  The fun will come to an end.   But it’s far more likely to be a jagged up-and-down affair…

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All Hail the Dipstick Trade! (FB,PRI)

All Hail the Dipstick Trade! (FB,PRI)   Just to get a sense of how ridiculously slap-happy bullish the market for tech stocks has become, we offer the following look at the PowerShares QQQ Trust Series (NASDAQ:QQQ), a proxy for the NASDAQ 100, for the last two years.   What’s m0st striking about the chart, in our view, is the index’s price action in relation to her moving averages.  Have a look – This is amazing.  The last time the QUBES touched their 137 day moving average, indicated by the blue arrows, was back in July 2016 (black circle), and the last time they spent more than a few weeks below that marker was in May…

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WAR! All the Latest Bellicosity and Bombast! (SPY,C,FB,DIA,IYT)

WAR! All the Latest Bellicosity and Bombast! (SPY,C,FB,DIA,IYT)   North Korea, friends.  It’s all about North Korea.   What do we mean?   Well, in the first place, you can expect that the news cycle is about to be dominated by that nuclear-tipped maniac, Kim Jong Un and his merry band of scribblers for the next couple of months, as the move toward a full scale erasure of the wicked Northern Kingdom is hatched, plotted and executed.   Already we see signs that, at the very least, the stage is being set for a negotiating turn of the screw the likes of which haven’t been seen since Bold Boy Arnold threatened the entire stickball crew…

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The Scent of Ascent (FB,C)

The Scent of Ascent (FB,C)   We’re going to start this week by claiming unapologetically and without any shame that tech stocks – particularly those sexiest FANG names – are about to spear the meat and offer a taste sensation that will be remembered by the longs for years to come. Here’s the setup.   First, earnings season is now underway and expectations for the quarter have been revised drastically lower.  Between storms and their damage and the effect they’ve had on employment and agriculture and tourism and the like, Wall Street believes aggregate earnings numbers will be far inferior to what was initially expected.   And that could bring a blessing.   Should there…

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Breaking Bulletin Bids Buyers Beware! (GWW,TYL,AOBC,FB,TSLA)

Breaking Bulletin Bids Buyers Beware! (GWW,TYL,AOBC,FB,TSLA)   This just in – earlier this week, one of our key indicators flashed a supernova warning.  It was our own ‘Volatility Compression’ marker, which we discussed at length only six weeks back in our Buy Everything Now! missive, a letter we’re sure you’ll agree both enthralled and captivated. In any event, the VIX (along with two other, equally important market readings) offered us what might best be described as a high probability pullback signal.   No, we’re not headed for the woodshed, and we’re not placing calls to next of kin.  But we are issuing a fitting warning that we could experience a short, sharp pullback (at least)…

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Hey, Gold Bug! Welcome to the Inferno! (GLD,TSLA,GS,XLF,FB)

It didn’t take long, that’s for sure.   Once the mighty Trump landed in the White House, it was time for Quinn the Eskimo and his merry band of goldphiles to turn-tail and run.   Apparently.   And while we may see a bounce here in the precious metals near-term, the fires of hell are only now being stoked for gold lovers – may they endure their agony gracefully.   Either that, of course, or they can sell. We had a friend several years ago who refused to heed our warning about an imminent selloff in the PMs.  He had just loaded up on silver as the metal was topping, and we warned him strenuously…

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