Wynn Resorts pre announced Q4 2015 earnings yesterday, 3 weeks earlier than expected. Results were relatively in line with expectations, which surprised investors and sent WYNN up 13% by the close. The stock built up a short interest of nearly 20% in the last few months, sending bearish speculators rushing to cover their positions. Las […]
Author Archives: Chris
January
06
China Devalues Again
posted by Chris
The People’s Bank of China struck another blow to global markets on Tuesday night, resuming the devaluation of the Yuan after Monday evenings China Caixin manufacturing sentiment report showed the economy is contracting at its fastest rate in 17 months. S&P 500 futures fell 1% immediately after. The devaluation also came after the Shanghai Composite fell by […]
December
13
Red Alert For Junk Bonds
posted by Chris
Fear rippled through financial markets last week as the $788mm Focused Credit Fund high yield bond fund managed by Third Avenue raised the gates and barred redemptions until the fund is wound down. Markets responded violently to this move as it seems to have been related to Oil’s 12% decline on the week which officially put US […]
October
25
Central Banks Speed Towards The Wall
posted by Chris
The Euro plunged Thursday morning as Mario Draghi promised more monetary accommodation to come at the European Central Bank’s December meeting. Then on Friday we learned the People’s Bank of China cut interest rates as well as the reserve requirement ratio to boost their flagging economy and falling stock market. Global stock indices rose sharply in the […]
October
11
Twitter Layoffs Signal End Of Growth Phase?
posted by Chris
It has been a tough couple of years for Twitter. The company IPO’ed at $26 dollars a share, reached a high near $70 and has declined ever since all the way to a low near $20 last month. Shares have risen to $31 last week on a combination positive news that granted much needed relief […]
October
11
Can Wynn Resorts Buck The China Bears?
posted by Chris
The four US traded Macau Casino operators: Wynn Resorts(WYNN), Las Vegas Sands(LVS), MGM Resorts(MGM) and Melco Crown Entertainment(MPEL) have rallied sharply in the last two weeks as shorts were squeezed across a range of China related stocks. Macau casino betting peaked in Spring 2014 and has been sliding ever since. These companies have seen their […]
October
09
Crowded Trades Squeeze Bears
posted by Chris
This week has seen a huge V shaped bounce in the most shorted currencies ,stocks, commodities and corporate bonds. The Energy sector ETF has rallied almost 16% off the lows seen last Friday as US equity markets opened down 1.2% after a disappointing jobs number pushed stocks back near their August lows. A turnaround started […]
September
14
Market Anxiety On The Rise
posted by Chris
In the last three months, not much has changed in economic data. The US and China have been on divergent paths for a year now, while Europe muddles along in the doldrums of low inflation and growth. It has not been until recently that global equity markets suddenly recognized that China plays the role of […]
July
17
Divergence Will Grow Between Bank of England & Fed
posted by Chris
A growing separation is brewing between the pace of policy tightening at the two most hawkish G10 central banks. As the risks from Greece and China were quickly subdued over the past week, markets have refocused on the timeline for tightening from the Federal Reserve and the Bank of England. This week Janet Yellen was […]
July
08
Global Risks Swarm Janet Yellen
posted by Chris
Yesterday’s morning plunge in the S&P 500 was quickly erased in a late day rally, but the reasons to be nervous for Janet Yellen are only growing day by day. China’s stock market continued it’s jaw dropping losses overnight as the Shanghai Composite fell 5.7%. The index has now lost nearly 35% of its value […]
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