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

The labor force continues its magical shrinking path, leading to ever lower unemployment rate even as job gains are quite punk.   Futures jerked down but not horribly…originally -0.5% but now -0.2%.  Expectations seemed to drop quite a bit this week.  The top of the Apple jobs gap is 1385ish area which will be important today.  QE3 continues to be in our flight path…

Participation rate 63.6%….

 

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May03

Looks like a very nice report out of LinkedIn (LNKD) after the bell.  Analysts were looking for $178.6M and 9 cents.  The company reported $188.5M and 15 cents.  Year over year revenue growth of 101%.   Guidance for next quarter is $210-$215M versus analyst's $208M.  Guidance for the year goes up from $840-$860M to $880-$900M.   Analysts were already at $877M (above LNKD's old guidance) for the year.  The stock is all over the place in after hours but definitely up – flipping around like a fish out water in the $115-$120 range, after a close near $110.  if you are curious the stock debuted in May 2011 and topped out at $122.70 that day.  Full report here.

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May03

I am butchering the saying but you get the idea.

After breaking support intraday, it would be quite "cute" if the market closed at at or very near the 1393-1394 area going into tomorrow's jobs data.  (repeat after me: "the most important data point of our lives!")  That would set up perfectly on a line everyone is watching, going into a bipolar outcome.  I don't like all the emphasis on these single data points – it's like they have turned the market into a Fantasy Football league.  I have always disliked having a lot of exposure going into an individual stock earning reports for the same reason (bipolar outcomes) and these economic reports that everyone keys on, are like an earnings report for the entire stock market.

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May03

It is funny nowadays to see how technically oriented this market is.  Once S&P 1394 broke we immediately saw a swan dive of some 5 S&P points in minutes.  Both carbon based and silicon based life forms are watching the same things.  Once a level breaks, the stops are tripped and woosh we go.

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May03

This area at S&P 1393/1394 is important and this is the third day of the past four the market has come down to visit it intraday.  The last two times have led to bounces but the more times we visit the more troublesome.  The reason this level is key is it is where the index broke out of during the April correction, so it was a line in the sand to the upside, and this week to the downside.  

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