Matt Maley

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Last quote by Matt Maley

Since the tech stocks are overbought on a daily, weekly and monthly basis, it could mean that both this group and the broader market will pull back soon.feedback
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May 15 2017
Matt Maley has been quoted in 31 different articles. Most recently, Matt Maley has been quoted saying, “If it bounces above the top end of that pattern, it's going to be quite positive for the dollar.” in an article called Three ways to make money this week. This is only one of 41 quotes from Matt Maley. To see more examples Matt Maley’s views and opinions, check out the section below. You can filter Matt Maley's quotes by date and by topic to see, for example, what Matt Maley said about Russell recently and in the past.
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Matt Maley quotes

When valuations get as stretched as they are now, we never grow into those valuations; prices have to come down.feedback

But in the last five nice rallies we've had in the [QQQ], it had to get to over 40 percent above its 200-week moving average, so you could still see some more upside here.feedback

People who think the world's coming to an end are still getting more long because they have no choice. Everybody's scared to death about their performance.feedback

Energy stocks usually lead crude oil ... so if history is any guide, the decline in the XLE should be telling us that the recent bounce in WTI is not going to last. The Commitment of Traders data shows that the 'specs' are loaded to the gills in crude oil – they have their largest net long position ever. Similarly, the 'commercials' have their largest net short positions ever.feedback

And it's been above its 200-day moving average for a while, but this week, or in the last four, five days, it's broken above its 200-week moving average. So it's got some nice momentum there and that's very positive. Now, there was a big divergence however, in 2012, 2013, when we were really right in the meat of that bear market in emerging markets. But that correlation in the last year and a half, two years has reasserted itself, and oil is really not breaking out.feedback

If [oil] can break out, that's going to give it much more higher potential for it to have another good year. But with oil, the way it is right now, it might limit that upside.feedback

On a technical basis, it's at kind of a critical juncture here, pointing to a chart of the ITB, which closed Wednesday at $29.74 per share. It got right up to it in 2015, got right up to it in 2016. Each time, it couldn't break above it. So if it can finally break above it, it should attract some of that momentum money that can fuel it higher.feedback

Indonesia is a very domestic driven economy, so it would be less impacted by a trade war.feedback

People always think that you've got to have the hot guy with the hot stocks, but the really good long-term investor is someone who also avoids the bad ones, and there's more of them out there than there have been in the past.feedback

The yield on the high-yield market is getting low, getting down near where it was in 2013, 2014 ... right before it saw a pullback. One was only a 7, 8 percent [pullback] but the other one was the big 20 percent correction, of course, when oil went down.feedback

So I don't know if we get anywhere near that kind of pullback, but we could get a 5, 6 percent pullback at some point.feedback

We have to worry a little bit about what's going on with interest rates, of course, but it's not just the level of interest rates. We have to worry about the steepness of the yield curve, because that's really where they make their money, in the yield curve. And ... the yield curve has flattened a little bit more than the bank stocks have come down.feedback

We highlight the banks once again because after a VERY strong post-election rally, they have actually been range-bound for almost two months (just like the S&P). Given how closely correlated the KBE & the [S&P 500] have been since the election, how this group acts going forward is going to be very important. So there's a little bit of a gap there that may cause a little bit of a headwind in the bank stocks.feedback

In other words, there are A LOT of people on the bullish side of the boat in crude oil.feedback

The ridiculous bubble top in 2000 … was very similar to the crazy bubble top that took place in the DJIA in 1929.feedback

Right now, the Russell is testing the bottom-end of ITS range, so if it breaks down further, it will raise a lot of concerns for the S&P. This is especially true since the Russell was a leading indicator for the S&P (to the downside) in the summer of 2015.feedback

You got a lot of people betting a lot of money that just in the next month, you're going to see volatility.feedback

Some of the very crowded trades, like being short the bond market, being long the bank stocks, being long the Russell 2000, things like that, may be under some near-term pressure as we move into the new year and not just for a couple weeks, but maybe even for six weeks to two months.feedback

Buying some puts or buying some calls in the bond market can be very inexpensive and a nice way to hold on to those positions over the long term but still protect yourself at the beginning of the year.feedback

In other words, it took a while for the strengthening dollar to have a negative impact on the EEM, but there is no question that it is finally creating some headwinds.feedback

You might want to take advantage, just buy a few puts out there, because they're going to be relatively inexpensive, as the VIX is showing.feedback

A 'rally on higher volume' is usually quite positive, but when it jumps THAT much at a time when it is already getting over-bought, ... it frequently signals the kind of 'buying panic' that is usually followed by at least a near-term pull-back.feedback

But so far, we've only really had a bit of a sideways consolidation.feedback

If it starts to creep further up from here, and if the bond market finally bounces a little bit and rates pull back to get people to calm down a little bit, that could give us an impetus to the upside.feedback

If the market can hold up well...and if certain issues like the ones facing the emerging markets lead investors towards U.S. assets...we could still see more upside movement between now & the end of the year.feedback

Whether you're behind and you're trying to play catch-up, but even if you're ahead, you've got to stay ahead of the market.feedback

The group is up incredibly in the last three months, and it's getting very extended.feedback

The market should now pull back no matter who wins ... it will just pull back more if Trump wins.feedback

In other words, no matter what the biggest detractors of both candidates try to say, the markets & the economy will not collapse this month (or even next month).feedback

The euro's been weak, the yen has been weak – that's going to make them more competitive, and some multinational companies in these individual countries should do quite well.feedback

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