Market Absorbing Significant Supply from Swing Highs in Spring 2008?
The tape has felt incredibly heavy to us over the past few weeks since we peaked at SPX ~1,475 on 9/14 – most gains are quickly puked and we’re now down ~170 bps from that post QE-infinity euphoric level. There’s…
GOOG Has ~20% of Additional Out-Performance vs. AAPL
The chart below plots the ratio of AAPL vs. GOOG. As the ratio declines AAPL is under-performing GOOG. The ratio has recently completed a bearish H&S pattern and has broken below support line (1). It’s next major areas of support…
Oil’s Decline Helping our Airline Out-Performance Thesis
We’ve re-visited the case for airlines out-performing two times on this site. Our last post on 9/7 was the catalyst for initiating a long spread trade in the group with a corresponding short in the SPX. On 9/14, we then…...