1. October Earnings Schedule…60% of S&P Reports in Next Two Weeks.

 We get Earnings fromNetflix on Tuesday, Tesla and Verizon on Wednesday, and Intel Thursday. Apple, Amazon, Alphabet, Microsoft and Facebook report the following week.—Dave Lutz at Jones Trading

1. Small Value 600 52% Spread in Performance Versus QQQ YTD.

1.Value Massive Underperformance vs. Growth Shuts Down AJO One of the First Quant Value Shops…..1999 Value Shops were Closing Across U.S. Before Value had Reversion to Mean.

Ted Aronson AJO Hangs It Up……”drought in value is the heart of the challenge”

5 Year small cap value vs. small cap momentum…..DWAS Small Cap Momentum ETF+69%vs. VBR small cap value ETF+18%

www.yahoofinance.com

1. 30 Year Mortgage Rates Hit Another Record Low….Average 30 Year Rate 3%

·         The average contract interest rate for 30-year fixed-rate mortgages decreased to 3% from 3.01%.

·         Applications for a mortgage to purchase a home fell 2% for the week but were 24% higher annually, the Mortgage Banker’s Association said.

·        Applications to refinance a home, which are most sensitive to weekly interest rate movements, fell 0.3% for the week.

https://www.cnbc.com/2020/10/14/mortgage-rates-set-yet-another-record-low-but-applications-fall.html

30 Year Mortgage Rate 1971-2020

1. Short-Interest in Nasdaq Comp Hits Highest Level in 10 Years.

“Somebody, somewhere, still wants to bet against this market,” writes Jason Goepfert, head of SentimenTrader and founder of independent investment research firm Sundial Capital Research, in a Tuesday research note.

Goepfert writes that so-called short interest, or the total number of shares of a particular stock or fund that have been sold short by investors, but haven’t yet been covered or closed out, on stocks trading on the Nasdaq Composite COMP, -0.10% rose in the last two weeks of September to around the highest level in 10 years, at around 9.7 billion shares (see chart below expressed as a percentage below a chart of the Nasdaq Composite’s absolute value).