Tag Archives for " MS "

Financial Sector | Where There’s Smoke…

You know the old saying, where there’s smoke there’s fire.  The Financial ETF (XLF) just lost 9.7% in the last 10 trading days. So when it comes to the financial sector of the stock market what is the smoke?

The smoke for financials is a higher than normal rise in certain interest rates that might signal financial distress. Recently the spread between the London Interbank Offered Rate (LIBOR) and Overnight Indexed Swap Rate (OIS) has been rising rapidly and now stands at the highest level since the Financial Crisis. Continue reading

Four Weeks and 3.6%…Is That It?

It’s been four weeks since the high on March 1st, is that it for the correction? I have my doubts.  Another way to look at it…the DJIA has corrected 18.4% of Minor Wave 3. Minor Wave 3 ended at the high on March 1.

In today’s brief market video I look at all this as well as one of my indicators, 3 key ETFs…SMH, XHB and XLF and one stock from each of those sectors.  The stocks are Qualcomm (QCOM), Toll Bothers (TOL) and Morgan Stanley (MS).