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: 2012 » 04/2012 » 04/10/2012
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Breadth Weakens Considerably

As shown in our prior post, the S&P 500 has moved back into its trading range after declining roughly 4% from its bull market closing high reached just last week.  The S&P 500 broke right through its 50-day moving average today as well, and as shown below, just 30% of the stocks in the index are now above their 50-days.  This is the weakest breadth reading we've seen since last November when the S&P 500 experienced a similar decline.

Natural gas is a bridge to nowhere

A new journal article finds that methane leakage greatly undercuts or eliminates entirely the climate benefit of a switch to natural gas.

Highest Number of Oversold Stocks Since October

Following today's sell-off in the equity market, there are now 226 stocks in the S&P 500 that are currently in oversold territory (more than one standard deviation below 50-day moving average).  On a percentage basis, this works out to 45.2% of the stocks in the index.  The last time there were more oversold stocks in the S&P 500 was back on October 4th.  

Las Vegas House sales up slightly YoY in March, Inventory down sharply

This is a key distressed market to follow since Las Vegas has seen the largest price decline of any of the Case-Shiller composite 20 cities. Prices, as of the January report, were off 61.8% from the peak according to Case-Shiller, and off 9.1% over the last year. Sales in 2011 were at record levels - even more than during the bubble - and it looks like 2012 will be an even stronger year, even with some new rules that slow the foreclosure process.

North Korea's Latest Threat

North Korea plans to use long-range missile technology to launch a satellite later this month despite international condemnation.

Earnings Season Cometh

Earnings season starts this evening with Alcoa's (AA) quarterly report after the close.  Arm yourself this earnings season with our comprehensive Interactive Earnings Report Database.  We take earnings analysis to the next level by not only highlighting how the actual reports compare to analyst estimates, but also how the stock price reacted to the report.  Users of this database can easily find how a stock or basket of stocks typically reacts to earnings in order to prepare themselves throughout earnings season.

Web Chat: The Future of Tax Reform

Each year as millions of Americans race against the clock to complete their taxes by mid-April, the debate over when and how the nation’s tax code should be reformed garners renewed interest. While most agree that the system is complex and outdated, there is little consensus over how it might be simplified or what changes are most urgent.

Spain's 'lose-lose' struggle reignites euro crisis

The eurozone crisis has returned with a vengeance after Spain's mounting woes pushed 10-year bonds yields back to the danger line of 6pc and the Madrid bourse crashed to its lowest level since the 2009.

Back to Back 1% Down Days

Unless the market stages a significant last hour comeback, the S&P 500 is set to decline more than 1% on back to back trading days for the first time since 11/16 and 11/17.  Below is a list of the 19 times that the S&P has had back to back 1% down days since the bull market began back in March 2009.  As shown, on the following day, the index has averaged... Continue reading...  (Must be a Bespoke Premium member to view.)

Date authored

: all » 2012 » 04/2012 » 04/10/2012