Goldman Sachs: Still very long, but not as long as just a few weeks ago. Just shaving, or a start of a significant sector-rotation?

“After significant long buying in September and early October, hedge funds have started to sell FAAMG again Collectively as a group, FAAMG has been net sold in five of the past six days (8 of the past 10) on the GS…[Read more]

Citigroup: “we remain cautious on buying the dip at current levels, preferring instead to wait for more supportive levels around 3,340/11,400 in SPX/NDX where profits are small again.”

Gap down market days seem to always test investors’ resolve. From my 22 years of experience there tend to only be a handful of reasons to be a net seller. The market will do its best to test your thesis, but as of today none of my sell indicators have triggered. ~Seth Golden

Deutsche Bank: “With the polls steady and heavily favoring Biden, the market is increasingly shifting focus towards thinking about how the Senate results might be the main driver behind the market reactions to the November 3rd election. Certainly the Senate make-up, and the size of the majority, will be an important part of the response. However,…[Read more]

Bernstien: AAPL has had a tremendous run, and now trades at 31x FY 21 estimates, a premium to many consumer companies and its highest relative level in over a decade. While we believe sell-side estimates remain too low, we worry that once a strong cycle is fully “baked” into estimates, likely around Dec-January, the stock could struggle to…[Read more]

J.P. Morgan: “We came away largely positive from the event led by our expectation for the latest line-up of iPhones to drive a strong replacement cycle, led by the combination of:

1) new exterior designs and form factor changes;

2) broader range of display sizes and price points (from 5.8″ to 6.5″ in 2019 to 5.4″ to 6.7”)

3) competitive pricing…[Read more]