Our market data indicators have plunged into negative territory. Will Yellen continue to raise rates till the normal ize at the inflation rate. This is a bit reminiscent of 2007-08's debt driven bear market. Here is our wish list for Santa:
- Better Breadth: Only 30% of stocks are in uptrend. Average stock is down 10% vs. flat S&P 500.
- Better Liquidity: M&A, buybacks have all but dried up. While insider and public selling is increasing.
- Lower Leverage: NYSE has all time record debt . a small increase in interest rates is having an outsized impact in high yield etfs
- Better EPS: EPS growth is flat and so is market in 2015. Coincidence?
- A Little Love: Our argo fund is up 14%, while big name fund managers Ackman & Gundlack are down 10-20 % this year.
See the latest Maltbie's Minute on the Market here.
Merry Christmas and Happy New Year. Visit millennium-asset.biz and download new report on our hedge fund up 14%.
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