Three Things That Can Spoil The Market Party After Iran Deal

If the short-covering we are seeing now hands off to real alpha buying, the broadening-out trade will get legs and supply will be digested. But if conviction remains missing, that record wall of supply will meet a market that solved the easy problem and is working on the rest.

The Leverage Casino

Leveraged ETFs, extreme volatility and dealer flows are feeding off each other in one of the most unusual market structures on the planet.

The Gold Powder Keg

Gold investors are suddenly obsessed with downside protection. Meanwhile, upside exposure has rarely looked cheaper.

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