Chart o’ the Day: Has the Japanese Trade “Resolved Itself”?

The technicians spent the year watching to see in which direction the “Japanese Trade” would resolve itself after a blow-off top in the spring followed by six months of consolidation. For the uninitiated, the Japanese Trade is short Yen, long Nikkei, based on the alignment of the Japanese political establishment and the BoJ in the…

Update: Intentionally Dumb 3D Printer Trade – One Year Later

It’s a year since I explained my reckless, intentionally dumb 3D printer trade. As I explained back in November of 2012: I own both of the 3-D printer stocks in my personal account in small enough amounts that they can’t hurt me but large enough amounts that, if I’m right, their rise will be meaningful….

IPO Flipping is the New Source of Hedge Fund Alpha

“I’ve been doing fifty million a year in commission business with your desk, and believe me, it’s not because I care what your chief strategist’s research reports say. You’re not allowed to give me ‘color’ on the trading activity of others anymore because your line’s recorded. You’re also not able to create products that will…

What Does the Dove Say?

Janet Yellen speaks before the Senate Banking Committee this morning at 10am. She’s released her brief address beforehand and will probably be answering a wealth of questions, especially on the idea of the taper. Livestream here on C-SPAN’s site Here’s BofA Merrill’s US Economics team with a preview: The taper question, ultimately Yellen states that…