Thursday, February 19, 2015

FRIDAY 2/20/15; Flash PMI's; OpEx; DE; COG; HCN; LH; Greece Bailout Agreement Creates US Stock Rally; SPX, INDU, RUT and AAPL All-Time Highs; COMPQ 15-Year Record High; Russia Downgrade

Euro 1.1361. Dollar/yen 119.04. Pound 1.5421. Aussie dollar 0.7794. WTIC oil 51.27. Brent oil 60.21. Natty gas 2.81. Gold 1209. Silver 16.40. Copper 2.61.

US Treasury yields are; 2-year 0.62%, 5-year 1.57%, 10-year 2.12%, 30-year 2.74%.

The NIKK prints another new 15-year record high at 18361 gaining +0.4% on the  weaker yen (dollar/yen pair above 119). Japan Display gains +5% on news of a proposal to build a factory to manufacturer screen panels for AAPL products. The SPASX 200 is down -0.4%. The India Sensex BSE ends a seven-day winning streak remaining near the record high above 29.9K four days ago. Standard Chartered senior executive Warren Lee and his wife and child are tragically killed in an auto accident in New Zealand. Lee was with Standard Chartered for 10 years and previously worked for DB and BAC so he likely knew where the bodies were buried.

Global traders are monitoring the Greece bailout drama. Germany is playing hardball rejecting the 









[Text is Redacted: Purchase February 2015-02 to Read the Complete Chronology]




































 Extreme bullish sentiment and uber low bearish sentiment signals a near term top in stocks. Ditto the low put/call ratios. Despite the euphoria and bullish excitement, the put/calls say a near term top is at hand for the stock market.

The dock workers and dock operators (management) reach a five-year agreement ending the West Coast port strike. Labor Secretary Perez serves as a mediator in the talks over the last four days. The Whitehouse releases a statement saying the deal is a “huge relief.”

Moody’s rating agency downgrades Russia’s credit rating to junk status with a negative outlook. Moody’s Investors Service cites the ongoing Ukraine civil war as a concern that may create further problems for Putin’s nation. Russia is falling into recession that is expected to linger into next year.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.