Posts From Jason Leach

Jason Leach
Since 1996, Mr. Leach has worked in equity research, investment banking, proprietary trading, and managing separate accounts. He became a CFA charterholder in 2003. Since 2009, Mr. Leach has written financial blog featuring cartoon on napkin depictions of economic and market happenings to distill, educate and entertain. He compiled some of his writings from 2012 into "Sleepwalking Towards a Precipice" (Amazon http://amzn.com/1481807463). He is currently Research Director, Head of Macro at Fusion Point Capital and Managing Principal at JBL Wealth Advisory.
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Crude Oil Price Compression: A Big Move Is Coming

We have an oil market in indecision. Indecision = compression. Crude oil price compression is building energy for a big move. There a variety of influences at play in the crude oil market: (i) with Permian-mania as a new swing producer (quick production switch back on and total production costs…

Consumer Staples (XLP) Diverge From US Treasuries On Reflation Trade

I recently noted that there are quite a number of themes, both positive and negative, continuing into the new year (in “Are Investors Pulling Too Much Awesome Forward“). The ‘positives’ – infrastructure spend, tax reform, healthcare reform, and deregulation – have built a relentless bid, or scared off sellers… for the…

Gold Miners (GDX): Gold Bugs May Not Be Immune Here

A key driver for gold prices (NYSEARCA:GLD) in early 2016 was Japanese negative interest rate policy rolled out at the end of January (note the sharp up move in the Gold Bugs chart below by my colleague Arun Chopra CFA CMT). After the Bank of Japan refused to go further…

Policy Trumpacho: How And Why Markets Are Rationalizing The Irrational

“Pulling Awesome Forward”, printed on inauguration day, discussed how markets had priced in a lot of good with the S&P 500 rising ~8% since the election. You can read that post here.  A number of economic “positives” including infrastructure spend, tax reform, healthcare reform, and deregulation built a relentless bid…

Are Investors Pulling Too Much “Awesome” Forward?

  U.S. markets have “celebrated” the Trump election, with the S&P 500 () rising ~8% after a quick ~4% drop pre-election (and much deeper drop in futures the night of the election). There are quite a number of themes, positive and negative, continuing into the new year. The “positives” –…

Financial Stocks: Capturing The Fear Of Missing Out (FOMO)

Financials and the fear of missing out… Below is another chart fusing together the technical backdrop for the Financial Sector (chart by my partner Arun Chopra) with some fundamental bullets listed below (by myself). Today we look at the huge rally in Financial stocks (NYSEARCA:XLE). Here’s some bullets to consider while reviewing the chart…

Energy Sector Rally Overheated… And Overvalued?

Energy: It’s the New Black Gold Below is another chart fusing together the technical backdrop for the Energy Sector (chart by my partner Arun Chopra) with some fundamental bullets listed below (by myself). If you like our work, check out more on our new premium site. Today we look at the…

Central Bank Focus: The Indomitable Dollar And It’s Raining Yen

Recently, I have partnered with Arun Chopra on a new research business called Fusion Point Capital (read more on our offering below). We fuse together longer-term fundamental indicators with technical indicators to do historical studies. Today I want to look at the Federal Reserve (central banks) and the increasingly volatile currency markets. We’ll…

Is China Behind The Big Rally In Copper Prices?

Recently, I have with Arun Chopra on a new research adventure. We fuse together longer-term fundamental indicators with technical indicators to do historical studies. Today I want to share with you our recent research into the rally in Copper prices. And, more specifically, what may be driving the biggest move in copper…

Are Copper Prices Following Coal’s Capitulation Pattern?

Recently, I have with Arun Chopra on a new research adventure. We fuse together longer-term fundamental indicators with technical indicators to do historical studies. Today, I want to share one of our latest studies on Copper prices. And, more importantly, I want to show how our work positions copper for a potential…