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All posts by Michael Comeau

T3’s Take 3: Healthcare Vote Postponed, Market Breathes a Sigh of Relief

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1) Healthcare Drama Continues The drama over the GOP healthcare bill continued today as legislators went down to the wire trying to round up votes. Earlier today, House Speaker Paul Ryan warned President Trump that Republicans may not have the votes to pass their health-care bill. And at around 3:30 p.m. ET, Trump announced that […]

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Weekly Sentiment Update: The Bears Are Done Hibernating… and They’re Hungry

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Permbulls always say everyone’s bearish. And permabears always say everyone’s bullish. But let’s look at the actual numbers to see how the crowd actually feels. Last week, sentiment went neutral for the second straight week. The big news this week is today’s healthcare vote (well, let’s hope we get it over with it), so let’s see if […]

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T3’s Take 3: Obamacare Lives for One More Day…

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1) Obamacare Decision Delayed The biggest event of the week has been pushed back. Today’s Congressional vote to repeal and replace Obamacare was delayed after GOP legislators failed to attract enough votes. According to CNN, 26 House Republicans said they will vote against the bill, and 4 more are likely to oppose it. And since no Democrats […]

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T3’s Take 3: There’s Darkness on the Edge of Town

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1) Markets Flatten Out Yesterday, the S&P 500 had its first 1% down day in 110 trading days, marking the end (well, hopefully it was the end…) of one of the most boring stretches in recent memory. We saw big-time weakness in biotech, small caps, and the banks, all of which were leaders in the […]

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T3’s Take 3: The Bears Are Back in Town

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1) The Bear Bites Back! After months of swinging and missing, the bears stepped up big time today. The S&P 500 had its first 1% down day in 110 trading days with a 1.2% decline to 2344.02. But more importantly, the action below the surface indicated real deterioration. The Russell 2000 dropped 2.7% to 1346.55 as downside […]

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T3’s Take 3: Mr. Market Is Still Telling the Most Boring Story on Earth

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1) What a Boring Market Stocks are still in sleep mode, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite showing next-to-none movement. The Russell 2000 fell -0.5% to 1384.09, and in today’s low volatility environment, that actually counts as major movement. Traders are still debating just how hawkish the Fed is following […]

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Snap’s Earnings Date Is an Awfully Valuable Piece of Insider Info…

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Snap Inc. (SNAP) a.k.a. Snapchat options have been trading for about a week, so let’s take a deep dive to see what the story is. First things first: Snap options are fairly liquid. The spreads on most contracts are pretty reasonable. As with all new issues (especially volatile high-beta tech names), the options are expensive, with […]

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T3’s Take 3: The Go-Nowhere Market Is Still Going Nowhere

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1) Another Day, Another Yawn I was really hoping that the Fed rate announcement and Dutch elections this week would spur some actual, real-life, lasting volatility. But following Wednesday’s post-Fed power rally, the market went right back into snooze mode. The S&P 500 fell -0.1% to 2378.25, with the Nasdaq flat. The Russell 2000 showed a […]

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T3’s Take 3: Stocks Grind and We All Ask What’s Next?

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1) Stocks Grind After the Fed Yesterday, we saw a pretty solid equity market rally after the Fed raised rates, but stocks went right back to sleep today. The S&P 500 fell -0.2% to 2381.38, and the Dow and Nasdaq barely moved as well. The action under the surface was pretty mixed. The Russell 2000 outperformed […]

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Weekly Sentiment Update: The Crowd Is Neutral but Options Traders Are Running Wild

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Permabulls always say everyone’s bearish. And permabears always say everyone’s bullish. But let’s look at the actual numbers to see how the crowd actually feels. Last week, we saw sentiment fall to neutral territory after two weeks of strong bullishness. (see here and here) So with the Fed out of the way, let’s see if anything’s changed […]

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