Today we got our first Hindenburg Omen confirmation. The number of new highs was 136, and new lows was at 69 (per the traditional WSJ source). Granted this particular criteria set was a little weak as the 69 is precisely on the borderline for confirmation (the 2.2%), and the new highs number was not more than . . . → Read More: Hindenburg Omen Confirmation #1
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Cisco (NASDAQ: CSCO) continues to trade a good deal lower after reporting a disappointing quarter and issuing light guidance. In the company’s conference call, CEO John Chambers offered the following observation (hat tip to Calculated Risk for the transcript): We are seeing a large number of mixed signals in both the market and from our customers’ expectations, . . . → Read More: Some Pockets of Optimism in Cisco’s Gloomy Report Expectations at 62.3 vs consensus of 61.3 (previous 60.6), and Conditions at 76.5 vs 76 (previous 75.5). And with this latest self fulfilling prophecy report out of the propaganda bureau, expect stocks to promptly go green as the ugly GDP number is all but forgotten. This report brings today’s official economic release docket to a close. . . . → Read More: UMich Consumer Confidence Comes Better Than Expected, At 67.8 On Consensus Of 67 In our day and age, when implied correlation is approaching 1 with each passing day, and when nuanced relationships are ignored, as every correlation somehow immediately becomes causation only to be invalidated, chewed out and left for dead, there is one certain and virtually guaranteed statistical relationship left, that not only persists day after day but . . . → Read More: Charting The -1.000 Correlation Between Stock Prices And Volume |
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