On Tuesday morning I joined Stuart Varney on Fox Business to discuss the implications of a Republican Sweep Election on markets. Thanks to Stuart and Christian Dagger for having me on.

Here were my notes ahead of the segment:

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During earnings season I try to cover 1-2 stocks that we have discussed on our podcast|videocast(s) and/or hold in client portfolios/personally/beneficially:

ETSY

We announced this new holding on our podcast|videocast several weeks ago (current blended basis ~$49.36).

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Q3 results:

Bank of America Fund Manager Survey Update

On Tuesday, we put out a summary of the monthly Bank of America “Global Fund Manager Survey.” This month they surveyed institutional managers with ~$503B AUM:

Here were the key points:

1. It is a positive (not a negative) that managers think CPI will be higher next year than this year.  It is the same at each cycle trough – that precedes a growth recovery (2009, 2001, etc):

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2. Sentiment is improving but not yet euphoric:

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3. Managers dramatically underweight Materials and Energy:

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4. Long Gold is getting very crowded:

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5. Managers starting to get out of Japanese equities:

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General Market

The CNN “Fear and Greed” rose from 58 last week to 68 this week.  You can learn how this indicator is calculated and how it works here: (Video Explanation)

The NAAIM (National Association of Active Investment Managers Index) (Video Explanation) rose to 88.31% this week from 82.53% equity exposure last week.

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More By This Author:

“A New Day” Stock Market (And Sentiment Results)
“Pay And Play” Stock Market (And Sentiment Results)
“Tale Of Two Cities” Stock Market (And Sentiment Results)