Be in the know. 20 key reads for Tuesday…

  1. Oil jumps after rout on stimulus hopes, Russian signal on OPEC talks (Reuters)
  2. Global Markets Are Rising After Trump Hints at Tax Cut Over Coronavirus (Barron’s)
  3. Stocks Fall More Than 7% in Dow’s Worst Day Since 2008 (Wall Street Journal)
  4. The Fed Offers Repo Market $50 Billion More to Ease Rate Pressure (Barron’s)
  5. Russia’s Oil War Has a Political Objective, Says Analyst (Barron’s)
  6. Interesting: Bullish Percent Transports (Hedge Fund Tips)
  7. High-Yield Bonds Are Sinking as Bankruptcy Fears Hit the Oil Patch (Barron’s)
  8. How a Saudi-Russian Standoff Sent Oil Markets Into a Frenzy New York Times)
  9. As Stock Markets Plunge, Trump Calls for Economic Response to Coronavirus (New York Times)
  10. Why falling oil prices could boost the Marcellus Shale (Yahoo! Finance)
  11. Treasurys plunge as Trump floats payroll tax cut amid coronavirus maelstrom (Fox Business)
  12. Wall Street CEOs to meet at White House (Fox Business)
  13. New Jersey’s Investment Chief Wants Talent. Here’s How He’ll Get It. (Institutional Investor)
  14. Lloyd Blankfein Predicts ‘Quick Recovery’ For Markets (Benzinga)
  15. Cabot Oil & Gas Is One Company Rising in Oil-Sector Carnage (Yahoo! Finance)
  16. The economy is ‘like a coiled spring’ and a sharp rebound is possible, analysts predict (CNBC)
  17. Russia to Start Foreign Currency Sales After Ruble Wipeout (Bloomberg)
  18. These Energy Stocks Were Lighter Than Air Monday (Wall Street Journal)
  19. Trump Surprised Staff With Vow to Detail Virus Aid Package Today (Bloomberg)
  20. How the Federal Reserve Can Ease the Coronavirus Panic (Wall Street Journal)

Be in the know. 10 key reads for Monday…

  1. NY Fed raises repo limits to ensure ample supply of bank reserves (Reuters)
  2. Never Mind The Stock Market. The Real Pain Will Be in the Credit Markets. (Barron’s)
  3. Hedge-fund manager who called the coronavirus market meltdown says selloff is overdone, covers shorts (MarketWatch)
  4. How the Trump Campaign Took Over the G.O.P. (New York Times)
  5. Saudi Aramco shares dive, Gulf debt hit as oil price plunges (Reuters)
  6. Putin Dumps MBS to Start a War on America’s Shale Oil Industry (Yahoo! Finance)
  7. Virtu Financial founder says stock market is ‘one big opportunity right now’ (CNBC)
  8. How Tupperware Lost Its Grip on America’s Kitchens (Wall Street Journal)
  9. All Your Coronavirus Travel Questions Answered (Wall Street Journal)
  10. What’s Your Workout? A Huge Leap to Replace the Rush of Ice Hockey (Wall Street Journal)

Interesting: Bullish Percent Transports

I was just going through my normal weekend work.  The last two times that “Bullish Percent” got to ZERO for the Transports (sector) were March 2, 2009 (one week before the financial crisis bottom), and Christmas Eve 2018 (the bottom).

It is hard to see how we turn here with all of the pessimism, but that’s usually when something comes around from thin air.  What could the catalysts be in coming weeks?  We don’t know, but here are some ideas:

  1. Gilead’s Remdesivir is proven effective in the Phase 3 test and rolled out for mass human use to treat COVID19.
  2. Russia comes back to the table with OPEC+ and they implement cuts.
  3. Fed Meeting March 18.
  4. Global Coordinated Fiscal Stimulus Package Announced.

While all four scenarios seem low probability – looking at the futures down 1000+ points – it is frequently at these points of acute pessimism that something changes in the near term.  Time will tell…

Click Here To Read How Bullish Percent is Calculated