Market and company analysis: earnings, macro data and what the numbers mean for equity options traders.
Analysis
American Express beat earnings and the stock fell 4.3%. Three months earlier it beat by more and fell the same amount. The answer sits in one expense line almost nobody reads. The five quarter series shows a step that already happened, not a cost problem that is still growing.
Analysis
Freight spending is up 11% while shipments fall 4%. Manufacturing sentiment is expanding while output barely moves. The gap between these numbers explains where the economy is actually growing.
Methodology
Target price, catalysts, timing, and structure, worked through a single trade that did not go to plan. The third piece in the methodology series.