Wednesday, December 9, 2020

Morning Note: Easy Peasy?

Asian equities continue their ascent; 11 of the 16 markets we track closed in the green overnight.

Europe's up as well so far this morning, with 14 of the 19 bourses we track trading higher.

U.S. Major averages are mixed, as I type: Dow down 62 points (0.20%), SP500 down 0.15%, Nasdaq down 0.16%, Russell 2000 up 0.29%.

The VIX (SP500 implied volatility) is up 0.39%. VXN (Nasdaq i.v.) is up 1.80%.

Oil futures are down 0.77%, gold's down 1.25%, silver's down 2.07%, copper futures are up 0.26% and the ag complex is down 0.07%.

The 10-year treasury is down (yield up) and the dollar's up 0.14%.

Led by AT&T, base metals, Asia-Pac equities, materials and energy -- but dragged more so by silver, gold, utilities, emerging market equities, utilities and staples -- our core portfolio is down 0.13% to start the day.

While, per the market action of late, the sentiment, the flow and the call options data (size and volume), there's a major cohort of investors out there who I suspect believe that making money in stocks is easy peasy -- I also suspect (certain in fact) that long before their journey's over, their perspective will evolve into something more akin to reality:

                                                                               HT/Chris Dark

Have a great day!


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