THE WEEKLY TOP 10


If you would like to get these unique insights on a regular basis during these fascinating times in the investment world, please click here to subscribe to “The Maley Report.”......Thank you very much.



THE WEEKLY TOP 10


Table of Contents:

1) The Fed to let inflation run hot...which = higher LT interest rates...which = lower stock prices. (Pretty simple.)

1a) Following last year’s script..........And...the Fed knows higher inflation will hurt the broad stock market.

2) Having said this, the Fed’s goal is still to keep these moves gradual ones.

3) More examples of “forced selling”...that’s what happens in an extremely leveraged marketplace.

4) Treasury notes have become very oversold near-term. (Overbought in terms of yield.)

5) Support/resistance levels for the S&P 500, Nasdaq, and Russell 2000 indices.

6) With T-notes oversold, bank stock have become overbought...and due for a “breather.”

7) We’re seeing signs that the “tradable” pull-back in commodities is beginning.

8) The travel & leisure stocks have become very overbought. (New Covid Variants to cause problems?)

9) Quick comments & charts on Bitcoin, TSLA, Gold, and the ITB housing ETF.

10) Summary of our current stance.


Long (and only) Version:

1) Chairman Powell’s comments last week were dovish...and thus they were originally viewed as bullish for the stock market. However, the more important aspect of his comments was that he reiterated the Fed’s intention to let inflation run hot. That’s good for the economy, but it also means that the Fed will accept higher long-term interest rates...so it’s not so great for the stock market for the near/intermediate-term.

Chairman Powell’s comments in front of Congress last week were bullish for the economy, BUT they were not particularly bullish for the stock market. Even tough they’re willing to keep their stimulus programs in place for as long as is ...

Read More
Comments

Morning Comment: A willingness to let inflation


It was an ugly day in the stock market yesterday as the 2.4% drop in the S&P 500 and the 3.5% dive in the Nasdaq came on a decent sized increase in volume and very poor breadth. In fact, the ...

Read More
Comments

Morning Comment: Travel & leisure stocks getting overbought near-term.


As we highlighted yesterday morning, large intraday-reversals (like the kind we got on Tuesday) almost always see some sort of upside follow-through over the very-short-term. That is exactly what we got yesterday...as some more dovish comments from Chairman Powell helped ...

Read More
Comments

Morning Comment: Powell Testimony.....TSLA & Bitcoin at key technical junctures.


We had a widely divergent market yesterday...as some groups rallied strongly as others got hit hard. In other words, the rotation that we’ve seen in the stock market in recent months was on steroids yesterday. Therefore, even though the S&P ...

Read More
Comments

THE WEEKLY TOP 10


I hope you have been enjoying the “Morning Comment” and “The Weekly Top 10”.....We will be ending our extended free trial of the newsletter on March 1st, so if you want to continue to get these unique insights during these ...

Read More
Comments

Morning Comment: They're running out of stocks to short.


Uneventful days have been few and far between over the last several months in the stock market (and for the last year for that matter), but we’ve had several of them recently. Yesterday was another one of those days...as the ...

Read More
Comments

Morning Comment: Commodities getting ripe for a "breather."


It was definitely a good day for the stock market...as the S&P, Nasdaq and Russell 2000 all closed at record all-time highs. We must say that the “internals” of the market weren’t all that great. The breadth for the S&P ...

Read More
Comments

Morning Comment: Amazon (AMZN) is at a key technical juncture


Our call that the short-term rally in silver would not last very long at all...and our call that the heavily “squeezed” stocks that had rallied so strongly recently...were very vulnerable to a big decline...worked-out quite well yesterday. Silver basically gave-back ...

Read More
Comments

Morning Comment: Is the "short silver" story part of a "pump & dump" scheme?


We must admit, we just don’t see the big short position in the silver market. Maybe it’s out there...and we just can’t see it. However, when we look at the Commitment of Traders (COT) data, it shows that the net ...

Read More
Comments

THE WEEKLY TOP 10


Just a reminder, we are only putting out one “version” each weekend now. The first paragraph will be in bold letters and will serve as the old “Short Version” of the piece (usually a condensed review of the “Long Version.”) ...

Read More
Comments

Morning Comment: Wall Street still doesn't "get it" when it comes to the GameStop phenomenon



As we moved through the day yesterday, we couldn’t help asking ourselves whether Melvin Capital...the hedge fund that received a $3bn bailout this week...will end up being like the Bear Sterns hedge funds of 2007? Long before Bear Sterns (the ...

Read More
Comments

Morning Comment: Be prepared IN ADVANCE...the signs are all over the place!


There are a lot of things going on today, so we have many candidates for a catalyst for a big move in the stock market over the rest of this week. The futures are trading significantly lower in pre-market trading, ...

Read More
Comments