10Feb2:36 pmEST

Until it Bends in the End

"The trend is your friend until it bends in the end." -Old Wall Street saying Software stocks in the IGV ETF are off to a terrible start in 2026. They were already out of favor, especially relative to other tech names like the memory segment of chips, since late-2025. But the slide became apparent to kick off the new year.  However, beginning...

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09Feb1:02 pmEST

Now We're Cooking with Gas!

The UGA ETF (below on the daily chart, zoomed-out) tracks RBOB gasoline futures contracts traded on the NYMEX. It is designed to reflect the spot price of unleaded gasoline in lieu of prices at the pump, which of course can fluctuate wildly in differences parts of the country.  As you can see, UGA is trading today at its highest level since...

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06Feb3:27 pmEST

Afternoon Update 02/06/26 {Video}

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05Feb2:41 pmEST

Did Bezos Really Leave Jassy Holding the Bag?

Andy Jassy became CEO of Amazon on July 5th, 2021, taking over for the great Jeff Bezos. The move came several months before shares of AMZN would top out for the next few years and not print new highs until mid-2024. That said, we know Amazon has since made a series of new highs into early-November 2025 before cooling off.  Still, I cannot help...

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04Feb1:59 pmEST

Pop Quiz, Hotshot!

Pop quiz, Hotshot!   Are you more familiar with the CEO of Palantir's hair than you are with the actual business model of Palantir? Are you more familiar with the CEO of Palantir mocking the stock's short-sellers (the stock has almost no more shorts left to squeeze, however) than you are  with the actual business model of Palantir? Are you...

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03Feb3:31 pmEST

Reminder: This is Still Nothing

The VIX remains below 20 even as software stocks in the IGV ETF slide further with a rather steep angle of descent. Palantir earnings failed to ignite a broad market rally. And the partial government shutdown ending this afternoon failed to spark much for rally, too.  That said, dip-buyers are vocal that this selling is overdone. After all,...

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02Feb12:08 pmEST

The Path Forward for Gold

The gold metal ETF, below on the zoomed-out daily timeframe, has not precisely tested its 200-day simple moving average (yellow line, arrow) in more than two years. In that regard, the move we have seen has obviously been an incredible outlier. It is all too tempting to declare a major, multi-year top to gold, as many are now doing, given...

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30Jan3:03 pmEST

Afternoon Update 01/30/26 {Video}

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29Jan10:32 amEST

The Music Stops When it Stops

The latest melt-up in many key semiconductor stocks came as software stocks slumped to a glaring degree. In fact, the spread between the two segments of the Nasdaq reached such levels that bulls were pounding the table (and still may be) that an "obvious" rotation trade would soon be underway.  Specifically, they advocated to lighten up on the...

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27Jan2:06 pmEST

A Warning to the "Yeah, But Oil" Crowd

Throughout the course of this inflationary regime, with CPI and PCE both running well above "target," as prescribed by The Fed, for many years now, quite a few folks have countered with the argument that crude oil has not been out of hand or anything close to it. Thus, they reckoned that inflation has been overhyped and the true risk was and is...

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