The good news is that sentiment and positioning continues to persist at capitulation levels. The bad news is that the key levers to cause a “buyers panic” into the market have not yet been activated. However, that may change soon:
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Category: Commentary
October 2022 Bank of America Global Fund Manager Survey Results (Summary)
The October survey covered 371 managers with $1.1 Trillion in assets under management.
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The “Fed Talk” Stock Market (and Sentiment Results)…
For the past six weeks every movement of the stock market has been predicated on what the Fed had to say about their future outlook/actions. Tomorrow we start earnings season in earnest with reports from the Big Banks (JPM, WFC, C, MS). Early this morning I was on CNBC Closing Bell (Indonesia) to discuss the setup going into earnings.
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Give Up on China? Stock Market (and Sentiment Results)…
This week I joined Will Koulouris on CNBC Street Signs Asia to discuss US market outlook, and more importantly whether I still liked Alibaba. Thanks to Gabrielle See, Francis Xavier and Will for having me on. The answer may surprise you: Continue reading “Give Up on China? Stock Market (and Sentiment Results)…”
3 down, 1 to go Stock Market (and Sentiment Results)…
In last week’s note, we laid out our case as to why a walk-back might be in the cards – as it relates to the Fed’s ultra-hawkish stance:
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As Hawkish As It Gets. Walk-Back On The Way?
Following the Pandemic Crash and recovery, I gave Chairman Powell and Secretary Mnuchin a lot of credit for saving the world from a global depression by acting quickly and forcefully. As I take a look back, I think Mnuchin deserves all of the credit. Here’s why: Continue reading “As Hawkish As It Gets. Walk-Back On The Way?”
“Everything’s Gonna Be Alright” Stock Market (and Sentiment Results)…
“‘Everything’s Gonna Be Alright’ is a song by American country music artist David Lee Murphy as a duet with Kenny Chesney. It was released in November 2017 as the lead single to Murphy’s 2018 album No Zip Code. The song reached number one on the US Billboard Country Airplay chart.” Wikipedia. Continue reading ““Everything’s Gonna Be Alright” Stock Market (and Sentiment Results)…”
September 2022 Bank of America Global Fund Manager Survey Results (Summary)
The August survey covered 212 managers with $616 Billion in assets under management. (Check Back Wednesday Morning For Final Version) Continue reading “September 2022 Bank of America Global Fund Manager Survey Results (Summary)”
“The Final Countdown” Stock Market (and Sentiment Results)…
As I have been saying since before Jackson Hole, the most important data point for 2022 will come on September 13 when CPI data is released. Nothing like having an 80’s hairband Europe lead us into the most pivotal print of the year:
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“Talk the Talk or Walk the Walk” Stock Market (and Sentiment Results)…
After an 18.7% rally off the June lows – that no one believed and were forced to chase UP in the beginning of August – (just like the perfect playbook) they opened the trap door with an 8.37% correction/consolidation to punish the “Johnny Come Latelies.” Like I said on CNBC on Sunday evening (Monday morning), “the market needed a reason to consolidate and Jay Powell gave it to them on Friday:”
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