Daily Top Ten – January 24, 2017

1.Semiconductor ETF +62% Off 2016 Lows.

Cyclical symbol of rising economy.

Semiconductor ETFs To Consider

The iShares PHLX Semiconductor ETF (SOXX) has $660 million in assets. Exposure is primarily in semiconductor stocks (87% of assets), while semiconductor equipment stocks (13%) like Applied Materials (AMAT) are much less represented. In addition to U.S. stocks, the ETF has exposure to companies based in Singapore and Taiwan, The ETF trades on average 515,000 shares on a daily basis and has a 0.48% net expense ratio.


Continue reading

Daily Top Ten – January 18, 2017

1.The Most Hated Bull Market Ever Continues….January Redemptions in Domestic Equities.

Euphoria? Okay, sure. Maybe in word, but not in deed. Here’s Oppenheimer’s Ari Wald highlighting a divergence that merits attention…

While newsletter surveys are signaling optimism, recent fund flow data suggests that investor skepticism still lingers. For instance, ICI estimated a $2B net outflow from domestic equity ETFs and mutual funds for the week of Jan 6 which marks the first redemption since the US election. What investors are doing is often more important than what they’re saying, and we therefore view this lack of euphoria as a positive for the overall equity cycle.

From Josh Brown Blog

Continue reading

Daily Top Ten – January 17, 2017

1.Speculators are Massively Short Stock Market Volatility and Short Treasuries….Contra-Indicator???

Equity Markets:  Risk appetite in the equity markets remains near multi-year highs. The chart below shows speculative accounts massively short VIX futures.

Rates: Short Treasuries is increasingly becoming a crowded trade. The chart below shows speculative accounts piling into the short 10yr note futures position.

Continue reading