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Rentech, Druck On Bitcoin, & The Way Of The Dollar

Alex here with this week’s Macro Musings. As always, if you come across something cool during the week, shoot me an email at alex@macro-ops.com and I’ll share it with the group.   Recent Articles/Videos — A Repricing In The Oil Market — We reiterate our bullish call for the energy space. Fox, Disney, and Netflix — AK covers the deal that just went through and what it means for Netflix. He also thoroughly expresses his love for Bob Iger…   Articles I’m reading — The New Yorker put out a really great long form piece on Jim Simmons, the founder […]

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The Oil Market’s Massive Repricing

The following is an excerpt from our Macro Intelligence Report (MIR). If you’d like to learn more about the MIR, click here. Seeking out asymmetric trades today is a bit tougher than normal because of where we are in the cycle. We’re in the latter stages and valuations are high (very high) so upside is somewhat limited on the whole and completely dependent on sentiment. But it’s not late enough in the cycle where it makes sense to start pressing shorts — the trend is still up and could persist for another couple of years. The large vampire squid (aka, […]

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Bitcoin vs Gold — Deathmatch 2017

Tyler here with this week’s Macro Musings. Just a heads up, we released the newest issue of our Macro Intelligence Report (MIR) last night. It’s all about an asset the overall market is getting completely wrong — oil. Within the 40+ pages of this report we go into depth on exactly why the market is wrong and how you can play the coming oil bull market. We’ve got a basket of equities plus an options play on the commodity itself that sets us up quite nicely to take advantage of the trend. With our 60-day money-back guarantee, there’s no risk […]

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The Coming Bull Market In Oil

To be a smart contrarian you need to have the confidence to dive into unloved areas of the market and sort through the rummage in search of asymmetric opportunities. Our team at Macro Ops has been digging deep and has finally “struck oil” in the energy market.   The popular narrative driving oil’s bear market over the last 3 years has consisted of two core ideas: Fracking has caused the supply of oil to explode. The adoption of electric vehicles is killing a huge source of oil demand.   Combine increased supply with decreased demand and of course you’re going […]

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Wall Street Wolves, Amazon, & Natural Gas

AK here with this week’s Macro Musings. As always, if you come across something cool during the week, shoot an email to alex@macro-ops.com and we’ll share it with the group. Our Recent Articles — Bruce Kovner On Listening To The Market, Politics, & Risk Control: For those of you who missed it, we reposted Bruce Kovner’s speech from Caxton Associates’ 20th anniversary. Lots of great nuggets in here… it’s well worth the read. Articles I’m Reading — Operator Darrin recently shared a solid article in the Comm Center about the importance of focus in trading and investing. You can read […]

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Bruce Kovner On Listening To The Market, Politics, & Risk Control

The following is a fantastic speech from Bruce Kovner on Caxton Associates’ 20th anniversary. Kovner shares a plethora of trading wisdoms including the three most important contributors to his hedge fund’s success. You can read the original speech from 2003 here. ~~~~~~ To all my colleagues, to friends and associates who have worked and invested with us over the years, may I say welcome to this 20th anniversary party. This is the first time Caxton has thrown a party for our extended family and I am happy and thrilled to welcome all of you. If we are able to catch […]

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Trading Wisdom From A JP Morgan Vet

Every once in awhile a few gems will surface through Wall Street’s noise. Such is the case with a departing note from Jan Loeys, a senior strategist from J.P. Morgan who has been at this game for over 30 years. In his final note, Loeys shares his thoughts on all the hot issues in finance and trading. The following are his most relevant comments to what we do at Macro Ops. The bolded emphasis is ours.    Quant  Vs Discretionary Quantitative techniques are indispensable, though, to deal with the complexity of financial instruments and the overload of information we face. […]

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Using Gold To See Where The Dollar Will Move Next

I’ve written a lot about how the US dollar is the fulcrum of the global financial system. Commodities are priced in dollars. Global trade is done in dollars. And the majority of international funding is in USD. The dollar is important. Dollar trends impact markets and assets around the world in various ways. Hence why the dollar is the fulcrum. But if the dollar is the fulcrum then gold is the foundation on which that fulcrum sits. I should make clear, I’m no gold bug and have no special affinity for the yellow metal. But when it comes to analyzing […]

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Simplicity, Aaron Brown, & GE

Tyler here with this week’s Macro Musings. Our Recent Articles — Lessons From A Trading Great: Ed Thorp – The latest installment in our super popular Trading Greats series. Throp was the original quant and advantage gambler who destroyed market averages year after year. His wisdom is priceless. A Bullish Big Picture With Growing Near-Term Headwinds – Our recent “Marcus Trifecta” look at the markets. Article I’m Reading — I’m a big fan of Euan Sinclair. He’s written a ton of theory on how to think about options and volatility from a practitioner’s perspective. This is no easy task. Most […]

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A Bullish Big Picture With Growing Near-Term Headwinds

There’s some growing signs of weakness in this market. Breadth is slipping, credit doesn’t look too great, there’s more new lows versus new highs being made… that kind of stuff. I’m still not getting any major sell signals, except from my high-yield indicator. It flashed a signal today. But there’s word the recent weakness in junk may be due to concerns over how deductions for debt and interest payments will be treated in the Republican tax reform plan. I don’t know. Either way, I’m not seeing any major red flags outside of junk bonds just yet. I’m in “wait and […]

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