January 19, 2017: Preferred Bank reports Q4 EPS of $0.71 versus the $0.66 estimate. Revenue also beat coming in at $29.4 million versus the $28.1 million estimate.
December 20, 2016: FBR & Co. makes positive comments on Preferred Bank and names it a top stock for 2017. FBR is positive on the entire banking sector. (Read More….)
A weekly Saturday night financial show that attempts to predict market direction for the week ahead by looking at a variety of technical and fundamental indicators. This week’s show includes commentary on the Fed’s first and only rate hike in 2016, Eli Lilly’s long-acting Basal Insulin that’s now available in the US, takeover rumors circulating (Read More….)
Pharmaceutical drug pricing is all over the mainstream financial media right now. Let’s examine the macroeconomics of what is happening.
The demand for pharmaceutical drugs is inelastic. People that need a pharmaceutical drug prescribed by their doctor will demand that drug regardless of price. As the price of the drug goes up, demand mostly stays (Read More….)
The mainstream media and Donald Trump have been at odds for a long time. That’s not news. Every publication from the WSJ, Reuters, and Bloomberg show constant biases in the articles they publish.
As a result, a lot of traders, simply mimicked what they read in the mainstream financial media as if was a fact. (Read More….)
The US national debt just broke above $19.5 trillion. Both Democrats and Republicans are to blame, but it is important to note that President Obama and Democrats increased the national debt more than all President’s before combined.
George Bush exploded the national debt by $3 trillion in response to an imploding economy and 911. (Read More….)
The velocity of money has hit the lowest level ever recorded as I wrote about here. I believe the crowding out effect is at least partially to blame for the slowdown in the velocity of money.
President Obama has run the national debt up to nearly $20 trillion, more than all President’s before him combined. (Read More….)
Donald Trump has correctly criticized the Federal Reserve for keeping interest rates low for Democrats. Yellen’s allegiance to Democrats is something I’ve been talking about for more than a year now.
Janet Yellen herself is a Democrat who was appointed by Obama. Remember how Yellen was questioned about why she was meeting with Democrats more (Read More….)
I just can’t get behind the idea that consumers are saving so much money at the pump that it’s going to be a boom for consumer spending. Savings at the pump boosting consumer spending is the same claim that the mainstream financial media has made for the last two years. The Wall Street Journal writes…
The mainstream financial media has created a new classification, an “earnings recession”. Earnings have been falling among S&P 500 companies for about a year now to which we assign +1 point to the Bears in the stock market prediction algorithm.
Folks, there is no such thing as an “earnings recession”. There is only a (Read More….)
Mainstream financial media is publishing stories about how the market shouldn’t be this high. Watch out folks. Institutional traders have been making a lot of money off of pushing the idea that stocks are going to pull back at any time.
Amateur traders have been taking short positions against the market for more than a (Read More….)
Traders continue to pile into stocks on the jobs report for June that showed 287,000 jobs created. The mainstream financial media is running with the 287,000 jobs created headline number, but is this the entire jobs market picture?
Below is the 3-month rolling average of non-farm payrolls.
In other words, when we zoom (Read More….)
Saudi Arabia targeted the US oil market by increasing production and flooding US markets with cheap oil. The mainstream financial media was in denial that the Saudis would target the US energy sector.
In the early days of Saudi Arabia’s attack back in July of 2014, CNBC had numerous energy traders on that scoffed at (Read More….)
Sector rotation is flashing a big red warning signal that the post-Brexit bounce could be over as soon as next week. Before I show you the S&P 500 with a Sector Rotation Model overlay, let’s briefly review the concept of sector rotation.
Sector rotation can be helpful in determining what the S&P 500 is likely (Read More….)
Brexit fear gripped traders, as the leave camp gained ahead of the June 23rd referendum on the UK’s continuing membership in the European Union. There was lots of jawboning about Brexit. Most of the talk was about the chaos that would follow the UK seceding from the EU. Stocks closed down for the week with (Read More….)
The motor vehicles and parts component of the Industrial Production report has gone negative for the first time since September 2007, right before the start of the Great Recession.
The mainstream financial media is strangely quiet about the chart above.
The economic slowdown is clearly turning into something much more serious: an outright recession. (Read More….)