As they say it’s “a market of stocks” rather than a “stock market”. Always opportunity somewhere if you can find it. There’s an important jobs report out tomorrow which is Good Friday. The stock market will be closed so traders will need to wait until Monday to react. May account for some of the turbulence today. Gold finally broke through the $2,000 barrier on the upside but has backtracked today. Silver, of course, has been hotter - but has a reputation for higher volatility.
The major market indexes (ie “the market”) have really confounded a lot of prognosticators I follow. Few foresaw the nice advance in the major indexes since the first of the year. I pulled in my risk exposure slightly last week (as mentioned in the BS thread). But would add to equities after any significant sell off. Bonds don’t excite me with the 10-year under 3.5%. However, if we get into a really serious recession rates will likely decline even further.
Added: From a recent issue of the F/T: “Retail trading reached record levels earlier this year, accounting for almost a quarter of all market activity on some days in late January according to JPMorgan analysts.”

For the week ending on 4/5/23, bearish remained the top sentiment (35.0%; above average) & neutral became the bottom sentiment (31.6%; average); bullish became the middle sentiment (33.3%; below average); Bull-Bear Spread was -1.7% (below average). Investor concerns: Inflation (moderating but high); economy; the Fed; dollar; cryptos; market volatility (VIX, VXN, MOVE); Russia-Ukraine war (58+ weeks, 2/24/22- ); geopolitical. For the Survey week (Th-Wed), stocks were up, bonds up, oil up strongly (OPEC cut production), gold up, dollar down. A huge improvement in the Sentiment this week, possibly a trend change? #AAII #Sentiment #Markets
https://ybbpersonalfinance.proboards.com/thread/141/aaii-sentiment-survey-weekly?page=9&scrollTo=1002

https://www.sec.gov/Archives/edgar/data/1140157/000027677623000068/ghy040523reorgsupp.htm
497 1 ghy040523reorgsupp.htm SUPPLEMENT FOR GHY REORG
April 5, 2023
Pioneer Global High Fund
Supplement to the Summary Prospectus, Prospectus
and Statement of Additional Information
each dated March 1, 2023
The Board of Trustees of Pioneer Global High Yield Fund has approved the reorganization of the fund with and into Pioneer High Yield Fund (the “Reorganization”). Each fund is managed by Amundi Asset Management US, Inc. (“Amundi US”). The Reorganization, which does not require shareholder approval, is subject to the satisfaction of certain conditions, and is expected to be completed in the third quarter of 2023...

+1. BHB ended the day up a bit.

”Certainly a lot of talk and excitement for this ETF, but do we know when it is scheduled to come to market?”

I’m hearing July 4 to coincide with fireworks displays nationwide. Plans are for a brilliant laser light show featuring Giroux’s larger-than-life image. I can’t wait either.
Image: Giroux pontificating at a Barron’s Rountable

(Notice the diminutive Abby Joseph Cohen seated nearby.)

I think OSTIX looks pretty good here and I am buying. I am clearing out REMIX, at a minor loss. That alternative fund cushioned my portfolio less than cash would have over the past 6-12 months.

RSI(14) is over 14 days only.
Low RSIs now can be found in financials (of course, banks) and small-caps.

I bought GS, JPM and MTB last week. I see longer term opportunities in financials.

I'm feeling the same way, though it's difficult to stay convinced, right about now.
In my financials fund PRISX, I'm down since inception of the account by -17%.
I'm faring better with my single-stock bet, BHB. Down since inception by -7.5%.
I thought a regional bank serving those quiet places in northern New England might be immune. But, no. Knock-on effect, surely. The stock is down by -21% at the moment, YTD. I smell bargain.

+1.

I have to look back and see how these layoffs and cutbacks compare to other ones for GOOGL etc.
A number of my son's college friends (class of 2014) went to work there and APPL etc and crowed about how great they had it. Massages 24/7 free food all day etc. Some of them didnt bother getting an apartment, they just slept in their spacious offices, ate free showered in the gym etc.
GOOGL would let you work anywhere in the world you wanted to and I think provided low cost housing there.
They told him he was crazy for going into English and teaching
The party may be coming to an end.

Ty so much seem very bad products underthe hoods
Might as well trade weekly Tsla csp, Likely more premiums incomes if do Delta 14 12

I don't get fascination in yield for its own sake. Why would one pay (in the form of negative total return) just to get some of one's own money back as divs?
Lifetime total return of TSLY (using Yahoo's adjusted NAV figures) -1.6%
Nov 23 - Apr 3, 16.45/16.72 - 1 = -0.0161 = -1.6%
https://finance.yahoo.com/quote/TSLY/history?p=TSLY
Lifetime total return of OARK (using Yahoo's adjusted NAV figures) -5.1%
Nov 25 - Apr 3, 14.46 / 17.35 - 1 = -0.0513 = -5.1%
https://finance.yahoo.com/quote/OARK/history?p=OARK
A very quick glance at OARK suggests it is using a strategy similar to principal protected (structured) notes, but with additional risks.
It clearly isn't achieving its stated goal of providing long exposure to ARKK via derivatives while generating income with covered calls. ARKK is up about 11% Nov 25 - Apr 3 (36.00 to 39.58, price movement). OARK not only failed to capture any part of this gain, it lost money even after generating income with "covered" calls and Treasuries.
Even YTD, OARK is up 4.57% (total return). ARKK (price) is up over 25%. (OARK's gains are capped; how much of the shortfall is explained by this cap, and how much by its strategy and/or poor execution?)
Gut feeling is that its failure to meet objectives is due in part to daily pricing as opposed to point-to-point pricing generally used by structured notes coupled with a volatile underlying security. But that's really just a superficial reaction.
Note: the subject line has a typo: TSLY, not TSLS

Seems foolish to me: https://realmoney.thestreet.com/investing/ets/tsly-tk-16109970
These are highly volatile strategies so you have to be a smart trader or speculator to play them correctly, not a long-term investor. But also I believe the fees are 1%, very high for ETFs. Finally, if investors are sophisticated enough to trade these well, they could also design an options strategy that mimics them without paying the fees.
In fact, because of regulatory restrictions on ETFs with single security exposure like Tesla, these ETFs are actually overly complex covered call strategies. One could easily buy Tesla and write a call option on it for the income without paying these fees. Instead this TSLY creates a synthetic ownership of Tesla stock by writing put options to skirt the concentration rules in ETFs. That is not necessary if you do this yourself.

Giroux just moved GE from his Top 5, even Top 10, but GE +GEHC (spinoff) combo still had the weight of 1.84% of AUM on 12/31/22. So, that was down from 2.00-2.25% of AUM earlier (Edit: GE topped at 4.7% of AUM in early-2022) . I think that he will stick with GE until the last spinoff happens next year (Power Vernova). Since October low, GE has done quite well when mid-December spinoff GEHC is taken into account. When GE was his #4 or #5, it was just too much distraction for him in the media as he was asked about it in almost every media interview.

Yes. And frankly I think him (or anyone) holding GEHC and their Aviation group spinoff (whenever it happens) will do well in the long term. I'm interested in them myself.

Giroux just moved GE from his Top 5, even Top 10, but GE +GEHC (spinoff) combo still had the weight of 1.84% of AUM on 12/31/22. So, that was down from 2.00-2.25% of AUM earlier (Edit: GE topped at 4.7% of AUM in early-2022) . I think that he will stick with GE until the last spinoff happens next year (Power Vernova). Since October low, GE has done quite well when mid-December spinoff GEHC is taken into account. When GE was his #4 or #5, it was just too much distraction for him in the media as he was asked about it in almost every media interview.

+1
In fairness, I don’t anticipate TRP doing that. What I see is investors chasing performance and the fund has been hot and attracting interest / money for a long time now. And Giroux, for better or worse, has claimed a lofty perch next to Gabelli, Cohen and other rock stars in Barron’s “Roundtable” two years running. I was a bit surprised he was invited back a second time in light of a couple of his early 2022 calls. Specifically a fondness for AMZ (which tanked shortly thereafter) plus a prediction the 10-year wouldn’t end the year above 3% - or some silly number. One wonders if that kind of fame and public scrutiny helps, harms, or has no effect on a manager’s psyche and decision making ability.

Yeah Hank, I agree..... and don't forget his mea culpa on GE last year, too. But he strikes me as a fairly grounded person and not exactly comfortable doing interviews (TV, anyway) so we'll see.
I suspect you're right that investors will see Giroux' name and rush into the ETF thinking it's a magic wand. Time will tell.

Japan's Sakhalin exception was done LAST YEAR while formulating the oil price-cap policy, https://english.kyodonews.net/news/2022/11/b7ea9d8ec6d2-us-excludes-oil-for-japan-from-russias-sakhalin-2-from-price-cap.html
The NEW price-cap exception for Japan is recent, https://www.msn.com/en-gb/money/other/japan-breaks-with-western-allies-and-buys-russian-oil-above-dollar60-a-barrel-cap/ar-AA19qoFT

I thought so too that they were different, until I reread the WSJ article (April 2, 2023) that I cited and that was referenced in the Daily Mail piece (via MSN).
Check the dates. The Kyodo News piece is dated Nov 23, 2022. It says that the price cap would go into effect on Dec 5, 2022, and that the Sakhalin-2 exemption would last until Sept 30th. That must be Sept 30th of 2023, since it didn't start until Dec 2022.
The referenced WSJ piece is reporting Japanese oil imports from Russia in January and February of this year, under that Dec 5, 2022 - Sept 30, 2023 exemption.

In the first two months of this year, Japan bought about 748,000 barrels of Russian oil for a total of ¥6.9 billion, according to official trade statistics. At the current exchange rate, that translates to $52 million, or just under $70 a barrel. Russia exports millions of barrels of oil a day, making Japan’s purchases a minuscule share of total Russian output.

This was a Saturday piece in the WSJ, not picked up by most major news sources. No independent source. These facts indicate that the WSJ story is background material, not breaking news.

Currently, TRP ETF's have not garnered much in AUM. Blue Chip Growth and Dividend Growth each have +$300M and Equity Income +$100M. Otherwise, mainly $20M or so per fund.
TCAF could be a winner for them?

I recall trying to put the Equity-Income ETF in my IRA. Somehow, it would not let me do it. I do own the OEF version. I have TRP T-IRA and TRP brokerage. Other than that, my wife holds BRUFX independently, directly with the Bruce guys.
I bet lotsa folks will pile into that new TCAF thing. I think I've already decided to stick with PRWCX.

+1
In fairness, I don’t anticipate TRP doing that. What I see is investors chasing performance and the fund has been hot and attracting interest / money for a long time now. And Giroux, for better or worse, has claimed a lofty perch next to Gabelli, Cohen and other rock stars in Barron’s “Roundtable” two years running. I was a bit surprised he was invited back a second time in light of a couple of his early 2022 calls. Specifically a fondness for AMZ (which tanked shortly thereafter) plus a prediction the 10-year wouldn’t end the year above 3% - or some silly number. One wonders if that kind of fame and public scrutiny helps, harms, or has no effect on a manager’s psyche and decision making ability.

Currently, TRP ETF's have not garnered much in AUM. Blue Chip Growth and Dividend Growth each have +$300M and Equity Income +$100M. Otherwise, mainly $20M or so per fund.
TCAF could be a winner for them?

I daresay it depends on how hard they end up promoting Giroux as PM. If they really ramp up their Giroux bandwagon it would give me serious pause about remaining in PRWCX ... i don't like being involved w/PR-oriented "rock star" fund managers that are marketed out by their firms. (I like my investments, and my fund managers 'boring' and relatively anonymous.)