60 Minutes on the Explosion of Disability Enrollees

60 Minutes this past Sunday did a piece on a story that has been talked about in these pages for a long time – the rapid increase in disability enrollment since the recession half a decade ago.  It is quite remarkable that effectively 5% of the working population is now enrolled. [Apr 7, 2011: Nearly 1 in 20 Working Age Americans Are on Disability, a Doubling Versus 1990]  [Dec…

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WSJ's Hilsenrath on Janet Yellen

With the demise of Larry Summers, all eyes point to Janet Yellen as the next Federal Reserve head.  Frankly it is a bit surprising she was not the leading candidate all along.   Earlier this year, we posted a NY Times piece on the woman [Apr 25, 2013: NY Times Does Janet Yellen] from a more personal level and now we have one on the Fed whisperer himself, Jon Hilsenrath…

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The Most Overbought Point in 2013

Quite an explosive rally yesterday at the 2 PM mark, in fact about 70% of yesterday's gains came in a minute or so per Bespoke Investment; the power of algos.   Obviously the Fed, by surprising just about everyone with "no taper at all", lit another fire under the market but coming off a near vertical rally since late August it is still a bit surprising to see the…

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Launch of Paladin Long Short Fund (PALFX)

Hanna Capital is proud to announce the launch of its flagship fund, the Paladin Long Short Fund (PALFX).  Available through a variety of brokers as well as direct purchase, this no-load fund seeks capital appreciation.  See the fund's prospectus here. Distributor: Capital Investment Group, Inc., Member FINRA/SIPC , 17 Glenwood Ave, Raleigh, NC 27603, (800) 773-3863.  There is no affiliation between Hanna Capital LLC, including its principals, and Capital Investment Group, Inc….

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May04

Unfortunately this market is right back into that "white noise" area where there is not much to discern, other than a fish flopping around on dry land.  Once the S&P 500 got back over 1393-1394 we had some levels to work against, i.e. 1393-1394/1404/1422.  Down in "the box" we don't have much at all in this 35 point space… 1357/8ish is the bottom 1393ish is the top.  The movement in between is random and choppy.  Even here around 1370 we are in no man's land WITHIN the white noise area… there are 20 points to the upside and 15 to the downside.   No edge.

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May04

On the bad news front, oil is getting crushed today to the tune of -4.1%.  Why bad news?  A few reasons: (1) oil prices up are seen as 'risk on' and (2) oil prices up are seen as a sign economies are strong or at least hanging in there.  Obviously the inverse of the 2 are not positive.

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May04

Online real estate company Zillow (Z), which was among a slate of internet IPOs in 2011, reported earnings Wednesday evening, and they were quite impressive.  While the revenue base is quite small, this is another company growing at >100%.   Average monthly unique users also jumped >80%.  Guidance was raised.  And before you think this is a blog post from 1999 (as if they had blogs back then! hello Geocities?) the positives don't just have to do with the "number of eyeballs"… the company just turned profitable, at least on a nonGAAP basis.

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May04

If you remember back in January and February we had quite a few market gaps, and they were not quick to fill.  Generally I have found for general indexes they fill within 2-4 months.  But that is in a strong uptrend.

The one caused a week and a half ago by Apple's earnings, is just about to be filled.

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May04

As those who follow the IBD systems hopefully know, a Follow Through Day has a failure rate of 30%.  However no sustained upward move has ever occurred without a FTD.  Hence, while important to see a FTD, they do generate false positives.  With the reversal yesterday, we have one of those false positive – and today is following through of course.

The S&P 500 has broken the "gap up" of 1385 from the Apple's earning report and is in process of 'filling the gap' – when filled it will take it down to the 1376 range.

And we're right back in "the box" from low 1360s to low 1390s.  Lucy pulled the football away from Charlie Brown on this one.

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