Check the background of this firm on FINRA's BrokerCheck.

Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

Check the background of this firm on FINRA's BrokerCheck.

Diamonds and Dogs

2/6/18

Micron (MU) led the chips higher after raising guidance following the departure of their CFO. The DRAM maker rose 11% after raising second quarter guidance to $2.70 -2.75 verse estimates of $2.56 a share. Revenue of $7.20-7.35 billion is also above guidance of $6.94 billion. Micron received two upgrades this morning with price targets of $76 and $85 a share.

The death of the inverse leveraged ETFs. The ProShares Short VIX Short-Term Futures ETF (SVXY) fell 82% and the VelocityShares Daily Inverse VIX Short Term ETN (XIV) fell 92% due to simple math. Conventional investments have theoretically unlimited upside potential, so that leaves inverse ETFs vulnerable to complete loss of value if the investment they track posts a daily gain approaching 100%. I doubt many investors understood that before buying these products.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.