Archives: Mish's Daily

An Arrow to the Sky Can Ricochet to the Ground

Mish Schneider | March 26, 2017

How do you transport a thousand-pound bronze sculpture of a Native American aiming to shoot an arrow into the sky? Carefully. How do you trade a thousand-pound stock market that aims to shoot an arrow into the sky? Carefully. Uncertainty surrounds the market: The terror attack, the American Health Care Act, Immigration policies, unsubstantialted wire-tapping claims, Russian interference, no new tax or budget policies and so on. These uncertainties anchored a market that up until

The Market’s Patience Won’t Last Long

Geoff Bysshe | March 23, 2017

Note: Today’s commentary is by Geoff Bysshe, President, The market spent the day waiting for clues about the likelihood of the healthcare bill vote passing tonight. However, the vote was postponed. Today the market was patient, but we shouldn’t expect that to be the case if Washington continues to delay or disappoint. When people are in a bad mood, they’re generally not very patient, and the same could be said for the market. Mish’s

The Writing on the Market’s Wall

Mish Schneider | March 22, 2017

First and foremost, my sincere condolences to the families of the victims in today’s attack in London. Although I use the sky to represent the “wall”, the writing has a similar intention. “The writing on the wall”, a Biblical story, appears after a King drinks wine from looted vessels seized at a destroyed Temple. An ominous message appears that the days of his Kingdom are numbered. Admittedly histrionic, my purpose is to illustrate that the

The Market Wrangles Crocodiles

Mish Schneider | March 21, 2017

Wrangler has multiple meanings. The definitions range from one who is in charge of animals to one who engages in lengthy and complicated quarrels. Bluejeans and Jeeps use “wrangler” to connote durability. Which definition describes the market action? Supervisory, quarrelsome or durable? Sister Semiconductors, in her recent supervisory role, today gave back the last four days of gains in one full swoop. Since SMH led the pack, as a wrangler does, perhaps the other part

A Rally That’s Curly and Rusty

Mish Schneider | March 20, 2017

Are your long positions and bullish biases starting to resemble a garden of curly, rusty steel? Do you feel like after you enter a trade you risk getting screwed? Do you see initial momentum on each trade followed by long periods of curly compression testing your patience? If you answered yes to all three questions, you are most likely a miniswing to position swing trader. You probably have a smaller portfolio right now. You may

Does the Market Wanna Be Sedated?

Mish Schneider | March 18, 2017

Sunrise Santa Fe, New Mexico. As I sip my morning coffee, I imagine the power lines as lines on a chart and the airplane a vertical price pattern gaining momentum. However, as a mode of transportation, the plane’s upward trajectory conflicts with the actual chart of the Transportation sector-IYT. As a key ingredient in the U.S. economy and a sibling in the Modern Family, Trans’ lack of upward trajectory sours the sweet lift my morning

The Market Masks Many Faces

Mish Schneider | March 16, 2017

To the right is a screenshot taken today of all six members of the Modern Family. The dotted line represents the 50 daily moving average. The solid line the 200 day moving average. Semiconductors (SMH) sit smugly in a strong bullish phase well above the 50 DMA. Biotechnology (IBB) also sits well above both moving averages. However, a big difference not illustrated is that while SMH is on new all-time highs, IBB’s all-time high is

Janet Yellen Presents: What Frightened You, Fed?

Mish Schneider | March 15, 2017

We placed a block of ice into the sink the other night and magically, Alfred Hitchcock presented himself. The famed director began every episode of Alfred Hitchcock Presents by laying the groundwork for the evening’s story of suspense and terror. In Season 7, on May 1, 1962 the episode called What Frightented you, Fred? aired. It’s the story of a prisoner that once released, prefers to return and remain in prison. The suspense and terror

New Mexico R.I.P (Ripple in Peace)

Mish Schneider | March 14, 2017

Today, news came out that New Mexico, our home state, has the highest unemployment record in the country. With a rate of 4.7% nationally, NM’s rate stands at 6.7% up from 6.5% a year ago. Here are the top 3 reasons why: Volatility in the oil and gas sector, which has led to layoffs Declines in health care and hospitality jobs due to uncertainty of the future of the Affordable Health Care Act NM Governor,

Inside the Window of Opportunity or Risk

Mish Schneider | March 13, 2017

Two out of the four market indices had inside trading days today. An inside day is when the current day’s trading range is literally inside the prior day’s trading range. Imagine inside days like when investors look inside a window and can only see a portion of the house. From that viewpoint, they pause and try to decide if they should enter the house or turn and run for the hills. In the S&P 500,