For a long time, I used to read Reminiscences of a Stock Operator almost every year. I don’t do that anymore, not because I find its lessons dated, but because I had it almost memorized so could direct my attentions elsewhere. The market’s behavior since the March 23rd bottom of 2191 to the 43% gain by July…
Welcome to another trading week!! In appreciation of all of our Basic Membership level participants and daily readers of finomgroup.com content, we offer the following excerpts from our Weekly Research Report. Our weekly Report is extremely detailed and has proven to help guide investors and traders during all types of market conditions with thoughtful insights and analysis, graphs,…
This past trading week, the markets continued to look beyond the rising COVID-19 infection rate and toward a future economic and societal recovery. The S&P 500 (SPX) made a concerted effort to finish the trading week on a high note, which it succeeded in doing. The benchmark index rose 1.76% for the week and finished…...
Welcome to this week’s State of the Markets with Wayne Nelson and Seth Golden. Please click the following link to review the SOTM video. In this week’s episode, we discuss the consistent 2009 adherence of the 2020 market recovery. Additionally, we take a look at some of the election cycle implications for investors as the incumbent is finding approval ratings fall under the…...
Biotechnology | North America COVID-19: Increasing ConvictionMultiple Vaccine Candidates WillHave Pivotal Data Before YE20 While a pre-election result is possible, we see early-to-mid November as our base case for PhIII data. Pfizer/BioNTech and Moderna appear slightly ahead of AstraZeneca for US PhIII data, though we note many details on the PhIIIs have not been disclosed…...
US Equity Strategy Election Implications for Equities, Democrat AgendaWinners and Losers With US election only a few months away, one scenario that has been of growing interest among investors is a potential Democratic sweep setting the stage for a shift in the legislative agenda. The consensus view is that a Democrat victory in November will…...
While the rise in new, positive Covid-19 cases continue, the S&P 500 (SPX) has hinted at the potential of re-testing the bear-to-new bull market highs. Both of these benchmarks are on the same path and seemingly aiming to befuddle the broader investor community. One proposed reason for the equity market’s defiance of the alarming rise…
Volatility Review Monetizing the convexity risk premium, US structuredproduct dynamics, Positioning update Implied convexity continues to exhibit very high levels of stress and lags the recovery in other risk premia. We recommend monetizing this rich risk premium by selling Jun’21 variance swaps vs. buying 0.75x the vega notional in Jun’21 vol swaps on the S&P…...
Welcome to this week’s State of the Markets with Wayne Nelson and Seth Golden. Please click the following link to review the SOTM video. In this week’s episode, we discuss a reversal of fortune in the markets as the S&P 500 rose sharply throughout the week. Nonetheless, the market remains rang-bound between 2,965 at the lower bound and 3,232, the most recent relief rally…...
I haven’t written an article like this one in the past, so bear with me here folks. This is the type of article that many would characterize as a “public service announcement” or PSA for short. My main consideration for this article are resources. One of the most important concepts about investing that I’ve discovered…
