SPY | DAVID NELSON, CFA

August 30

The only thing going up faster than stocks

By David Nelson, CFA CMT The Bull Case – The only thing going up faster than stocks are earnings. A year ago, 12-month forward earnings were about $150 and today estimates project $211 a near 40% bump. The S&P on a price basis is up 28% and 31% if you count dividends. All during that […]

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July 22

All eyes on the 10 Year

posted by David Nelson, CFA

Stock investors are looking at bond yields.

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July 14

Is this as good as it gets?

posted by David Nelson, CFA

Estimate revisions are likely peaking. Buybacks at a record are holding up the earning’s of some of the biggest companies. $590 Billion in authorizations year to date.

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June 21

Iceberg Dead Ahead!

posted by David Nelson, CFA

By David Nelson, CFA CMT The iceberg barely visible in my post from last week came into full view following Wednesday’s FOMC decision and the release that followed. If the analyst notes post the decision are any indication it seems Jay Powell and company caught the street by surprise. While the overall hit to the […]

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June 14

It’s hard to see the iceberg in calm waters

posted by David Nelson, CFA

By David Nelson, CFA CMT Searching for the next catalyst the S&P 500 drifted higher last week. The surprise had to be 10-year yields hitting the lowest level in 3 months on the heels of another hot inflation signal from Wednesday’s CPI numbers. It begs the question what do bond investors see that equity investors […]

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April 05

Hottest in 37 Years!

posted by David Nelson, CFA

By David Nelson, CFA CMT Most investors have never seen economic data this hot. Wednesday’s ISM Manufacturing coming in at 64.7 is the highest in 37 years. GDP Consensus for 2021 is close to 6% with some economists as high as 8%. Add the fact that Friday’s non-farm payrolls coming in at 916K was well […]

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