Business

For over an hour XOM stock has traded in a 2c range... glued to the level of a sizable selling program's cliff-edge from this morning. Did the XOM stock algo just give up?

Efficient markets indeed.

Submitted by Vanda Research Group

Hippocrates Sleve

In his most recent Sunday note entitled "The Stock Market Doctor", Morgan Stanley equity strategist Adam Parker writes that:

'The main questions investors ask us today seem to be about the exterior appearance of the market and not fundamentals. “What is this price action telling you?” “What are other investors asking you about?” “How are other people positioned?” Or, “what’s the current sentiment?” '

NIRP has proven to be a dud as far as monetary policy goes.

Europe has implemented FOUR NIRP cuts since June 2014. Throughout this period, EU inflation has barely flat-lined.

The story is similar for Japan, which implemented NIRP at the end of February 2016. Since then the Yen has surged.

While Japanese inflation is trending down:

One week ago we were shocked to learn that no matter what the market was doing, whether it was going, down or sideways, Bank of America's "smart money" (institutional, private and hedge funds) client, simply refused to buy anything, and in fact had continued to sell stocks for a near-record 11 consecutive weeks.

They said it could never happen again!! But stocks are not green...

And Nasdaq is red on the week, spanked by NFLX...

Damn It Janet! Do Something!!