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Cory’s Chart Corner
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As per the historical script, we are in the distribution phase of the equity cycle and the bag holder is always the same, Mr. & Mrs. Retail. h/t @GlobalMktObserv
🔴Hedge funds are offloading Magnificent 7 stocks at an UNPRECEDENTED pace:
Hedge fund net exposure to the Mag 7 is down to ~17% of total North American net exposure, near the lowest in 3 years.
At the same time, the top-most purchased stocks by retail investors last week were
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Rising stocks and contracting economies–foreboding financial setup
China’s Caixin purchasing managers’ index unexpectedly fell in May to 48.3 (sub-50 signals contraction) as US tariffs took a toll on smaller exporters. The consensus had expected the gauge to improve, not worsen. At the same time, US manufacturing activity … Continue reading
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GTA new home prices back to 2021 levels–still unaffordable
Demand for new homes across the Greater Toronto Area (GTA) has reached unprecedented lows. Only 310 new homes were sold in April, down 72% from last year and 89% below the 10-year average. It was the weakest month on record, … Continue reading
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Hunt: the economy is weaker than Wall Street suggests
It’s an especially confusing time for investors. On one hand, the US economy is showing signs of slowing, with a negative growth for Q1 GDP, and mounting evidence that many corporations and consumer households are feeling the pinch of higher … Continue reading
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