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Should we Continue Taking Trend Signals after Whipsaws?

The stock market has been a tough place for trend-following since January 2022, which is when the S&P 500 first triggered a bearish trend signal. The bearish signal in question is the humble 5/200 day SMA cross. There were whipsaws in the first quarter of 2022 and then an extended downtrend from April 11th until January 23rd. The 5-day SMA crossed above the 200-day SMA on January 24th and this cross remains bullish until proven otherwise. Despite whipsaws in 2022, this moving average cross warrants our attention because a bearish cross could foreshadow a move to new lows.

The chart below shows the S&P 500 with the 5-day SMA and 200-day SMA. The indicator window shows Percent Above MA (5, 200, 0), which is part of the TIP Indicator Edge plugin. This indicator shows the percentage difference between the 5 and 200 day SMAs. Currently, the 5-day is 1.77% above the 200-day. A cross below zero would signal a bearish moving average cross.

Prior signals resulted in whipsaws so why should we respect this cross? Whipsaws are part of the process for trend-following indicators. We can reduce the whipsaws by smoothing the close with a 5-day SMA, but we cannot totally illuminate them. Traders looking to catch big trends must learn to live with the whipsaws. It is the cost of doing business for trend-followers. We have to take the signal to catch the trends. Let’s crunch some numbers.

A simple trend following indicator can help us maintain returns and greatly reduce drawdowns. The table below shows performance metrics for buy-and-hold, the close/200-day cross and the 5/200 day cross. Over the last 20 years, buying and selling 5/200 cross signals worked 47% of the time (Win%) and the Compound Annual Return (CAR) was 6.71%. The average of the 5 largest drawdowns was 16%. Buy-and-hold had a higher Compound Annual Return (CAR), but the average drawdown was almost twice that of the 5/200 cross. Buy-and-hold went through a 55% drawdown in February 2009 and a 33% drawdown in March 2020.  

 

This is as simple as it gets for trend-following and determining the direction of the most important benchmark for the US stock market. The S&P 500 is the most widely followed index, it is the most used index for benchmarking returns and the 200-day SMA is the most widely used long-term moving average. The state of the S&P 500 is also something to consider when trading stocks and ETFs. In general, I want to be long stocks when the S&P 500 is in an uptrend and out when the S&P 500 is in a downtrend. Even though there is chance of a whipsaw, a 5/200 cross would be bearish and I would respect this signal.

TrendInvestorPro is currently working with three quantified strategies for trading ETFs. We have a Bull-Bear Strategy trading the All Weather List, a Trend-Momentum Strategy Trading stock-related ETFs and a Mean-Reversion Strategy. Each strategy has a detailed article and signal tables are updated daily. Click here to learn more.

The Trend Composite, Momentum Composite, ATR Trailing Stop and eight other indicators are part of the TrendInvestorPro Indicator Edge Plugin for StockCharts ACP. Click here to learn more and take your analysis process to the next level.

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Key Fed inflation measure rose 0.6% in January, more than expected

A measure the Federal Reserve watches closely to gauge inflation rose more than expected in January, indicating the central bank has more work to do to bring down prices.

The personal consumption expenditures price index excluding food and energy increased 0.6% for the month, and was up 4.7% from a year ago, the Commerce Department reported Friday. Wall Street had been expecting respective readings of 0.5% and 4.4%. The core PCE gains were 0.4% and 4.6% in December.

Including the volatile food and energy components, headline inflation increased 0.6% and 5.4% respectively, compared to 0.2% and 5.3% in December.

Markets fell following the report, with the Dow Jones Industrial Average off around 500 points in morning trading.

“This morning’s strong inflation data continued the recent spate of market-unfriendly news. This could keep the policy rate higher for longer than the market had hoped, which in turn will likely pressure earnings,” said Matt Peron, director of research at Janus Henderson Investors. “While we do see signs that inflation will eventually moderate, higher rates for longer will take a toll.”

Consumer spending also rose more than expected as prices increased, jumping 1.8% for the month vs. the estimate for 1.4%. Adjusted for inflation, prices rose 1.1%.

Personal income adjusted for inflation increased 1.4%, higher than the 1.2% estimate. The personal saving rate also was up, rising to 4.7%.

All of the numbers suggest inflation accelerated to start the new year, putting the Fed in a position where it likely will continue to raise interest rates. The central bank has pushed benchmark rates up by 4.5 percentage points since March 2022 as inflation hit its highest level in some 41 years.

“Clearly, tighter monetary policy has yet to fully impact consumers and shows that the Fed has more work to do in slowing down aggregate demand,” said Jeffrey Roach, chief economist at LPL Financial. “The Fed may still decide to hike by 0.25 [percentage points] at the next meeting, but this report means that the Fed will likely continue hiking into the summer. Markets will likely stay choppy during these months where higher rates have yet to materially cool consumer spending.”

The Fed follows the PCE measures more closely than it does some of the other inflation metrics because the index adjusts for consumer spending habits, such as substituting lower-priced goods for more expensive ones. That provides a more accurate view of the cost of living.

Policymakers tend to focus more on core inflation as they believe it provides a better long-run view of inflation, though the Fed officially tracks headline PCE.

Much of January’s inflation surge came from a 2% rise in energy prices, according to Friday’s report. Food prices increased 0.4%. Goods and services both rose 0.6%.

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On an annual basis, food prices rose 11.1%, while energy was up 9.6%.

Earlier Friday, Cleveland Fed President Loretta Mester noted in a CNBC interview that there has been some progress made but “the level of inflation is still too high.”

A nonvoting member of the rate-setting Federal Open Market Committee, Mester has been pushing for more aggressive increases. She said she’s not sure if she’ll again advocate for a half percentage point boost at the March FOMC meeting.

In the wake of Friday’s data, market pricing increased for the likelihood of a half-point, or 50 basis point, increase next month, to about 33%, according to CME Group data.

This post appeared first on NBC NEWS
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Vows by many big U.S. companies to back out of Russia hold firm a year later

One year after Russia invaded Ukraine, many of the largest U.S. companies say their moves to suspend operations or withdraw from Russia remain in effect.

An NBC News review of the 30 companies that make up the Dow Jones Industrial Average found that 24 had disclosed businesses in Russia before the war. Of those 24 firms, 18 have either suspended business in Russia or exited the country over the past year, and the remaining six have reduced the scope of their operations there, according to company spokespeople reached by NBC News and past public statements.

Six companies in the Dow 30 haven’t publicly clarified their business dealings in Russia, if any, since the invasion. But two of them — Walmart and Home Depot — told NBC News that they had no prior or current business there. The other four didn’t respond to requests for comment.

Seven companies that announced last spring that they were paring back at least some operations from Russia didn’t respond to requests for an update on those moves. But all 19 of the firms that did provide updates or confirmation of their status as of Friday said they had no plans to cultivate closer ties with Russia.

The trend extends beyond the C-suites of the Dow 30. 

Research from Yale University’s Chief Executive Leadership Institute, led by Jeffrey Sonnenfeld, looked at 460 U.S. companies, of which 325 appeared to have suspended or exited their businesses in the country. The Yale researchers also counted over 1,000 businesses worldwide that have curtailed their operations in Russia. 

“Never before in history have we seen so many companies exit from a country overnight,” said Steven Tian, a research director with the Yale institute.

Employees dismantled a McDonald’s sign in Novosibirsk, Russia, last September as the chain withdrew from the country.Alexandr Kryazhev / Sputnik via AP file

It has taken other companies many months to fully wind down their businesses in Russia as the war rages into its second year.

Hard Rock International, which had franchises in Moscow and St. Petersburg at the time of the invasion, told NBC News Friday that its franchise partner had closed the Moscow location. But the company, which isn’t in the Dow 30, said the St. Petersburg partner hasn’t agreed to follow suit.

“Hard Rock International is in the legal process of terminating the St Petersburg agreement and closing the Cafe,” the company said in a statement.

‘No longer tenable’

In some cases, companies paused their Russian operations to comply with sanctions imposed by the U.S. government, a new slate of which the Biden administration unveiled on Friday.

U.S. Treasury sanctions on individuals or entities have required major finance firms to cut certain ties. In addition to an extensive list of Russian oligarchs, the Treasury’s Office of Foreign Assets Control designated Russia’s largest banks and the Russian central bank as sanction targets, effectively barring U.S. companies and individuals from transacting and trading Russian securities and dealing with Russian firms.

Dow members JPMorgan Chase and Goldman Sachs both said last March that they would ultimately wind down their businesses in Russia in compliance with regulatory requirements.

Under intense public scrutiny, other Dow-member companies moved quickly last spring to issue statements, in many cases promising to suspend operations in Russia. Apple pledged to stop selling products in the country, Visa said it would cut off card transactions into and out of Russia, and Boeing stopped parts distribution and service agreements.

Other companies halted, and then exited, their businesses. After saying in March 2022 that it would close its Russian restaurants and pause operations, McDonald’s moved two months later to begin selling more than 850 restaurants with the goal of leaving the country entirely, saying that owning businesses in Russia was “no longer tenable, nor is it consistent with McDonald’s values.”

For some major companies, leaving Russia entailed significant costs. McDonald’s booked a $1.2 billion charge as a result of writing off its investment there. Honeywell took a $295 million hit as a result of winding down its Russian businesses.

For others, exposure to Russia was low, so the cost of leaving was small. American Express told analysts in March 2022 that its business dealings in Russia were limited to just one card partner, making any impact “not material.” The software company Salesforce similarly said the impact of exiting its business with a “very small number” of Russia-based customers was minimal.

Decoupling

Not every company packed up and left entirely.

NBC News counted six companies in the Dow 30 that announced plans to partially retreat from Russia. Merck, Amgen and Johnson & Johnson have all suspended investments and clinical trials in Russia but are still selling essential medicines that aren’t subject to international sanctions.

Procter & Gamble has stopped investments and reduced its product offerings in Russia but is continuing to provide basic health, hygiene and personal care items “needed by the many Russian families who depend on them in their daily lives.” The Dow chemical company said it had suspended the purchase of feedstocks and energy from Russia but was still supplying “limited essential goods” like food packaging, hygiene, cleaning and sanitation products and other household items.

Russia’s size, both economically and geographically, means some companies still have limited or indirect ties to the country.

For example, Chevron said it doesn’t have exploration or production activities in Russia. But the oil giant has a 15% stake in a Kazakh pipeline linked to the Russian port of Novorossiysk. The company says the equity crude that it moves through the pipeline is Kazakh in origin and therefore not subject to international sanctions on Russian oil.

The construction equipment company Caterpillar has suspended manufacturing in Russia. Asked about reports that the company is continuing to move parts through the region as part of its supply chain, Caterpillar declined to comment. “We continue to comply with all applicable laws and evolving sanctions,” a spokesperson said.

Even in the banking industry, where sanctions restrict business activities, some lines are blurred. After a brief pause last summer, some Wall Street banks resumed facilitating trades in Russian debt.

Those moves brought liquidity to an otherwise dried-up market for Russian government bonds, potentially allowing investors outside the U.S. to participate in the secondary market. However, the Treasury clarified last year that such trades were allowed under U.S. sanctions, provided they were part of efforts to wind down existing investments.

This post appeared first on NBC NEWS
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What should fans expect from MLS in 2023? How about some chaos?

LAFC, Philadelphia Union return as top MLS Cup title contenders.Portland Timbers’ Evander, New York Red Bulls’ Dante Vanzeir among key incoming players.Apple immerses itself into sports streaming with 10-year partnership with MLS.

As Major League Soccer kicks off its 28th season, what should fans expect?

How about some chaos?

Take into consideration:

The league has had nine different MLS Cup winners in the last 10 years.Throw in the monkey wrench that is a new playoff format which is, well, whack.Did we mention that the season will be put on hold for a month in order to play a tournament against teams from Mexico?

That all should add even more unpredictability to a league that can be quite capricious.

Here are the key storylines to follow during the 2023 MLS season:

Who are some top 2023 MLS Cup contenders?

►Los Angeles FC: LAFC won its first MLS Cup and second Supporters’ Shield in a breakout 2022 campaign. In 2023, LAFC can collect even more hardware with a six-pack of trophies on the line (MLS Cup, Supporters’ Shield, U.S. Open Cup, CONCACAF Champions League, Leagues Cup, Campeones Cup).

►Philadelphia Union: The Union were painfully defeated in an epic MLS Cup by LAFC but returns a loaded squad primed for another run at a title.

►Austin FC: Austin made a massive leap in just its second season, reaching the Western Conference final. Sebastián Driussi is on the short list of 2023 MVP candidates.

►Los Angeles Galaxy: The Riqui Puig-to-Chicharito connection could make the Galaxy one of the league’s most formidable goal-scoring machines.

►FC Cincinnati: After spending the first three seasons of its exist at the bottom of the Eastern Conference table, this club took the next step under coach Pat Noonan and reached the playoffs in 2022. In 2023, FC Cincinnati will aim to take the next step and become a legitimate contender.

►New York Red Bulls: Sporting the second-longest active playoff streak in U.S. major pro sports leagues (13, behind the Pittsburgh Penguins’ 16 in the NHL) but without an MLS Cup win to show for it, RBNY went out and spent some money this offseason. New designated player Dante Vanzeir will be counted on to push this team beyond just another playoff team and into the legit title contender stratosphere.

►Seattle Sounders: After becoming the first MLS team to win the CONCACAF Champions League, the Sounders went on to miss the playoffs for the first time in team history. Is a Seattle revenge tour in the offing for 2023?

Who are some key new players in MLS?

►Stipe Biuk, forward, Los Angeles FC: The 20-year-old Croatian was a 2022 nominee for UEFA’s ‘Golden Boy Award.’

►Enzo Copetti, forward, Charlotte FC: In pairing Copetti with 2022 team goal-scoring leader Karol Swiderski, Charlotte is aiming for an Austin FC-like sophomore season surge.

►Evander, midfielder, Portland Timbers: Portland spent a reported club-record transfer fee to bring in the Brazilian, who the club hopes is the play-making successor to Timbers legend Diego Valeri.

►Giorgos Giakoumakis, forward, Atlanta United: Gone is Josef Martínez, who won the 2018 MVP award with Atlanta. The goal-scoring pressure now rests on the Greek international  whom Atlanta signed from Scottish Premiership powerhouse Celtic FC.

►Andrés Gómez, forward, Real Salt Lake: The new ownership group in Salt Lake City is not messing around, setting a club record on the transfer fee for the promising 20-year-old Colombian.

►Dante Vanzeir, forward, New York Red Bulls: It’s been awhile since RBNY splurged on an international designated player signing (remember, this is the team that brought Thierry Henry to MLS). In Vanzeir, RBNY hopes to have a next-level scoring threat that the team has lacked since Bradley Wright-Phillips departed in 2020.

How to watch MLS in 2023

For first time in league history, ESPN will not broadcast any MLS games. Instead, it appears as if Apple is diving into the deep end when it comes to sports streaming. The company, through its Apple TV service, enters the first season of a 10-year partnership with MLS. Live broadcasts and replays of every match – regular season, playoffs and the new Leagues Cup – will all be available via MLS Season Pass.

The biggest bonuses of this move for soccer football fans:

No blackouts. An ‘NFL RedZone’-like whip-around show called ‘MLS 360.’A more streamlined schedule, with most games kicking off at 7:30 p.m. local time on Saturdays.

Fox Sports will air 34 games on linear TV in 2023. Those games also will be available on MLS Season Pass.

What are some key early season MLS games to watch (or stream)?

►Feb. 25 – Philadelphia Union vs. Columbus Crew, 7:30 p.m. ET (Apple TV): An MLS Cup favorite hosts a hopeful title contender at Subaru Park. Each team will be attempting to claim an early season statement win.

►March 4 – St. Louis City SC vs. Charlotte FC, 8:30 p.m. ET (Apple TV): The league’s latest expansion team plays its first home game at CITYPARK, the 22,500-seat stadium in downtown St. Louis. The opponent will be looking for a fast start to the season after just missing the playoffs in 2022.

►April 15 – Portland Timbers vs. Seattle Sounders, 10:30 p.m. ET (Apple TV): #MLSAfterDark could get rowdy when these two bitter Cascadia rivals meet for the first time in 2023. 

►April 16 – Los Angeles Galaxy vs. Los Angeles FC, 4:30 p.m. ET (Apple TV, Fox): The Galaxy hold the all-time El Tráfico edge at 7-5-5, but LAFC has won when it’s mattered most with two playoff victories over their rivals, including in last season’s Western Conference semifinals.

►May 13 – New York Red Bulls vs. New York City FC, 7:30 p.m. ET (Apple TV): The Hudson River Derby might feature teams headed in opposite directions. NYCFC  is in a rebuild while  its crosstown rivals could be one of the top teams in the East.

What is the newest MLS team?

St. Louis, which has deep roots in the sport of soccer, finally has a top-flight team, as St. Louis City SC becomes the 29th team in Major League Soccer. St. Louis City SC also hits a historical milestone as the first female majority-owned team in MLS.

From a competitive standpoint, St. Louis City SC landed in the Western Conference, with Nashville SC shifting back to the East, giving the two conferences an uneven number of teams (15 in the East, 14 in the West). While the league intends to expand to at least 30 teams, there is no further expansion planned at the moment.

Head coach Bradley Carnell (who spent much of his professional playing career in Germany) and sporting director Lutz Pfannenstiel (you might know him from Bundesliga broadcasts on ESPN+) made some key additions from (you guessed it) Germany, including former Borussia Dortmund goalkeeper Roman Bürki, midfielder Eduard Löwen from Hertha Berlin, forward João Klauss from Hoffenheim and center back Joakim Nilsson from Arminia Bielefeld. 

St. Louis fans will be hoping for a wunderbar Fußball season in 2023.

What is the 2023 MLS playoff format?

Can MLS just settle on a consistent playoff format? That answer is a resounding ‘NO!’ Just four days before kickoff of the 2023 season, the league announced a new format for the postseason. It’s unorthodox and convoluted.

It’s features a wild-card game between the eighth- and ninth-place finishers for each conference spread over two days (#MLSSuperWildCardDays?) to determine which squad gets to play a best-of-three series against their respective conference’s first-place finisher.

This will be the postseason schedule:

Wild-card games: Oct. 25-26Round 1: Oct. 28-Nov. 12Conference semifinals and finals: Nov. 25-Dec. 3MLS Cup: Dec. 9

That whole Round 1 features best-of-three series, with no extra time and penalty kicks if 90 minutes cannot determine a  winner. That is the case for the wild-card games, too. However, the following rounds will be single-elimination showdowns from the conference semifinals through MLS Cup.

This is a dramatic shift from the simple, 14-team, single-elimination tournament the league had for just three seasons (2019, 2021-22). It also gives MLS a 16-team playoff field, matching the number of teams that make the playoffs in the 30-team NBA and 32-team NHL, with all three leagues outpacing the NFL (14) and MLB (12).

What is the tournament between Liga MX and MLS?

The budding bromance between Liga MX and MLS hits a crescendo with this summer’s Leagues Cup. The tournament will feature every Liga MX and MLS team (47 total) in a World Cup-style competition that will take place July 21 to Aug. 19. Both MLS and Liga MX are pausing their league competitions for Leagues Cup. The winner will earn automatic qualification for the CONCACAF Champions League.

LAFC (2022 MLS Cup champion) and Pachuca (the 2022 Clausura or 2022 Apertura champion with the most combined points) automatically qualify for the Round of 32.

What are preseason betting odds for 2023 MLS Cup winner?

According to Tipico Sportsbook, Los Angeles FC (+450) is the early favorite to win MLS Cup in 2023, followed by the Philadelphia Union (+650), New York City FC (+750),  Los Angeles Galaxy (+1200), CF Montréal and Austin FC (+1200), and Nashville SC and New York Red Bulls (+1500).

At +2000 are FC Dallas, Seattle Sounders, Atlanta United, FC Cincinnati and Inter Miami CF. At +3000 are the New England Revolution, Sporting Kansas City, Columbus Crew, Toronto FC, Portland Timbers, Orlando City SC and Minnesota United. At +4000 are the Colorado Rapids and Real Salt Lake. At +5000 is Charlotte FC, and at +6000 are the Chicago Fire, D.C. United and San Jose Earthquakes. The Vancouver Whitecaps are at +7000 and Houston Dynamo at +8000.

Expansion side St. Louis City SC (+10000) faces the longest odds to win MLS Cup.

Gannett may earn revenue from Tipico for audience referrals to betting services. Tipico has no influence over nor are any such revenues in any way dependent on or linked to the newsrooms or news coverage. See Tipico.com for Terms and Conditions. 21+ only. Gambling problem? Call 1-800-GAMBLER (NJ), 1-800-522-4700 (CO).

This post appeared first on USA TODAY
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Big 12, Big Ten clashes lead the five best men’s basketball weekend games

“That’s all right, we’ll get ’em at our place.” This has been the mantra for college basketball fans since the dawn of time – or at least the formation of conferences.

At this late stage of the season we are well into rematch time, and this week’s Starting Five features a quintet of teams seeking to even the score against league foes that got the better of them the first time around. Some are more desperate for a win than others, as you’ll see below, but there’s definitely something on the line for all of the participants as the battle for conference tournament seeding and favorable March Madness consideration winds down.

These matchups were all quite compelling earlier as well, so we present these top-five viewing recommendations with a fairly high degree of confidence.

No. 8 Texas at No. 10 Baylor

TIME/TV: Saturday, 2 p.m. ET, ESPN

Follow every game: Latest NCAA Men’s College Basketball Scores and Schedules

As has often been the case this season, we’ll lead off in the hyper-competitive Big 12. The Longhorns go for a sweep of the Bears that would keep them in at least a share of the league lead with Kansas, while Baylor looks to snap a two-game mini skid and avenge its five-point loss in Austin that was not decided until the final minute back on Jan. 30. This encore should again be a back-and-forth battle between the teams’ array of shot-making guards as Baylor’s Keyonte George and Adam Flagler look to outduel the Longhorns tandem of’ Marcus Carr and Sir’Jabari Rice.

No. 17 Indiana at No. 5 Purdue

TIME/TV: Saturday, 7:30 p.m. ET, Fox

As we said just three weeks ago, the Boilermakers didn’t have to wait long for their chance at redemption after losing by five in the Hoosiers’ storied Assembly Hall. It will be a very different kind of road challenge for Indiana after its game at Michigan State that was cathartic for all involved. Big guys Zach Edey and Trayce Jackson-Davis will again be the headliners for this rematch in Mackey Arena, but the outcome will hinge on whose ball handlers are better at avoiding turnovers.

No. 14 Saint Mary’s at No. 12 Gonzaga

TIME/TV: Saturday, 10 p.m. ET, ESPN

Once again, the Zags didn’t have long to wait for their chance to even the season series with the Gaels. A third encounter in the West Coast Conference tournament is probable as well, but it isn’t guaranteed as Gonzaga’s air of home invincibility took a hit thanks to an earlier loss to Loyola Marymount. Gaels center Mitchell Saxen did about as well a job as anyone in the league staying with the Zags big man Drew Timme the first time around. Gonzaga’s back-court defenders must be equally effective against Aidan Mahaney and Logan Johnson.

No. 6 Virginia at North Carolina

TIME/TV: Saturday, 6 p.m. ET, ESPN

Now-or-never time has arrived for the Tar Heels in their quest to enhance their resume which, for the moment, would seem to leave them short of tournament consideration. Their visit to Charlottesville in early January didn’t go well, but they would now seem to be catching the Cavaliers at a good time. Narrow escapes from Louisville and Notre Dame foreshadowed Wednesday night’s blowout loss at Boston College, results that have UVa fans understandably concerned as Selection Sunday approaches. Both teams have been prone to lengthy cold spells, which might work to UNC’s advantage if Armando Bacot is able to impose his will on the glass.

No. 20 San Diego State at New Mexico

TIME/TV: Saturday, 10 p.m. ET, CBSSN

This is the lone case in our Starting Five in which it is the visiting team seeking payback. In fact it is that Jan. 14 victory at the Aztecs as well as an earlier non-conference win at Saint Mary’s, that are keeping the Lobos in the at-large conversation at all. But New Mexico has dropped five of its last six games, including Wednesday night’s five-point setback at Boise State, and has fallen below .500 in the Mountain West. The Aztecs don’t always play the most aesthetically pleasing brand of basketball, but their stifling defense might be well-suited to silencing the raucous crowd in the Pit.

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Parents of shooting victim rip Alabama for letting Brandon Miller play

DeCarla Cotton said it’s ‘unimaginable’ that Alabama allowed basketball star Brandon Miller to play the day after law enforcement testified that Miller delivered the gun used to kill Cotton’s 23-year-old daughter.

In a preliminary hearing Tuesday in Tuscaloosa, police testified that Miller brought the gun used in the Jan. 15 killing of Jamea Jonae Harris, which led to capital murder charges against then-teammate Darius Miles and Michael “Buzz” Davis. Miller has not been charged.

On Wednesday, Miller scored 41 points and led second-ranked Alabama to a 78-76 victory over South Carolina.

“It’s just unimaginable, and it’s like his life is just going on,’’ Cotton told USA TODAY Sports on Thursday. “He took a brief pause and it didn’t stop. It’s like, OK, slap on the wrist and go play ball.

“They’re worried about his career, but what about this this 5-year-old boy (Harris’ son, Kaine). He’s the true victim in all this. He won’t have a mother anymore to influence his growing up and who he’s going to be.’’

Follow every game: Latest NCAA Men’s College Basketball Scores and Schedules

Miller, a freshman, is a candidate for national player of the year and has been projected a Top 5 pick for the NBA draft in June. He has helped lead Alabama to a 24-4 record and No. 2 ranking in the USA TODAY Sports Coaches Poll.

Cotton said it should have been clear to Miller that the gun could result in violence. The gun belonged to Miles, who has since been removed from the Alabama basketball team. Miller brought the gun after Miles sent him a text asking for it, according to police testimony.

“When somebody says bring a gun to them, what do you think they’re going to do with it?’’ Cotton said. “And if there was no gun, she would not be dead.’’

Oats later issued a statement saying, “In no way did I intend to downplay the seriousness of this situation or the tragedy of that night. My prayers continue to go out to Jamea Harris’s family.’’

Said Heard, “The retraction meant nothing to us because over this five-week period, he has made a habit of making reckless statements. When I say reckless, I mean statements not considering the victim in this whole thing, which is Jamea Harris.’’

Tuesday’s preliminary hearing resulted in a denial of bond for Miles and Davis, and a referral to a grand jury on the charges against them.

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LeBron James’ part ownership of Red Sox remains groundbreaking

In February for Black History Month, USA TODAY Sports is publishing the series “28 Black Stories in 28 Days.” We examine the issues, challenges and opportunities Black athletes and sports officials continue to face after the nation’s reckoning on race following the murder of George Floyd in 2020. This is the third installment of the series.

Almost two years ago, it was reported that LeBron James and longtime friend and business partner Maverick Carter became minority owners in the Fenway Sports Group, which owns the Boston Red Sox.

The Boston Globe reported that James and Carter were the first two Black owners in FSG. 

James has done so many remarkable things in his career and life that this purchase is low on the list.

Yet of all the things James has done, his buying into the FSG group remains one of the more impactful. Why?

It has to do with representation. This is what I mean:

‘Breaking down barriers’

There was something James’ agent, Rich Paul, told CNBC at the time that still resonates now.

“It’s breaking down the barriers,” Paul said. “You’re talking about a game that was once limited. Jackie Robinson and Roberto Clemente – guys like that people didn’t even want to play the game. The Negros had to have their own league to us now owning and representing in that business sector. It’s a testament to us continuing to evolve and not being complacent.”

What Paul made clear was James’ investment was only the beginning. It seems almost a certainty James will try to buy an NBA team.

Vegas, baby!

James has made it clear he wants to own a team in Las Vegas. I don’t know if that will happen but doubting James about anything is foolish.

James becoming an owner would be transformational for a simple reason. It would show people of color that it’s possible. If a kid from Akron, Ohio, can do it, so can they.

This is the power of LeBron James.

This post appeared first on USA TODAY
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Alabama basketball, murder and Brandon Miller: Here is what we know

The Alabama men’s basketball team is – or was – having a dream season.

The Crimson Tide have been one of the top-ranked teams for weeks, currently sitting at No. 2 in the USA TODAY Sports Coaches Poll. They’re 24-4, including five wins over ranked teams. They boast a likely NBA lottery pick in Brandon Miller. They’re in line to earn a No. 1 seed in the NCAA Tournament, and possibly the top overall seed. 

But over the last week, as more details have emerged about a  fatal shooting that took place on Jan. 15 – a murder in which police say Miller was involved, though to what degree is unclear – the Tide have become embroiled in an ugly, tragic controversy. 

And coach Nate Oats made it worse with some astonishingly insensitive comments that have infuriated members of the community, as well as the parents of Jamea Jonae Harris, the young woman who was killed.  Former Alabama player Darius Miles and Michael “Buzz” Davis have been charged in her death. 

Here’s what we know about the situation. 

Follow every game: Latest NCAA Men’s College Basketball Scores and Schedules

Who is Brandon Miller? 

Miller, a freshman for the Tide, is a 6-foot-9 forward projected to be an NBA lottery pick in the 2023 draft. The former McDonald’s All-American was a consensus five-star recruit and ranked the No. 9 player in the 2022 class according to ESPN. 

He’s averaging 19.6 points, eight rebounds and 1.9 assists for Alabama this season while shooting 43.1% from 3. With Miller, Alabama instantly becomes a title contender. Additionally, he is a contender for national player of the year. 

What happened on Jan. 15? 

According to police testimony, on Jan. 15, Miles, then Miller’s teammate, texted Miller asking him to bring Miles’ gun to him. 

Then, according to police, after Miller arrived, Miles handed Davis the gun while the two were in the back seat of Miller’s car. An argument with Harris turned violent shortly after, and Davis is accused of shooting  Harris. He has since been charged with capital murder (Miles has been charged with the same.) 

The day before when the Tide took on LSU, Alabama released a pregame statement that Miles would miss the rest of the season with an injury. Shortly after he was arrested on Jan. 15, Miles’ player bio was removed from Alabama’s website. Later that day, the school issued a statement that Miles had been “removed from campus” and was no longer on the team. 

At that time, Miller’s alleged involvement that night had not been made public. He played in the Tide’s next game, on Jan. 17, at Vanderbilt. He scored 30 points and grabbed 10 rebounds in Alabama’s 78-66 win.

Why hasn’t Brandon Miller been charged?

Miller, meanwhile, has not been charged with anything. On Tuesday, Tuscaloosa chief assistant district attorney Paula Whitley told AL.com, “there’s nothing we could charge him with.” 

Additionally, Alabama chose not to discipline Miller or Jaden Bradley, another Tide basketball player who investigators say was also at the scene of the shooting.

Shortly after police testimony was made public Tuesday, Oats was asked about the situation. 

“We knew about that,” Oats said in reference to Miller’s involvement. “Can’t control everything everybody does outside of practice. Nobody knew that was going to happen. College kids are out. Brandon hasn’t been in any type of trouble, nor is he in any type of trouble in this case. Just in the wrong spot at the wrong time.”

Oats tried to backtrack later, releasing a statement that characterized his comments as “unfortunate” and read, in part, “In no way did I intend to downplay the seriousness of the situation of the tragedy that night.” 

Meanwhile, Miller’s attorney insisted that his client had “never touched the gun, was not involved in its exchange” and “never knew that illegal activity involving the gun would occur.”

Why did Brandon Miller play Wednesday night? 

Oats’ initial remarks infuriated the victim’s family, but the situation was made considerably worse on Wednesday, when Alabama played its first game since the police testimony had been reported. 

Miller played, scoring a career-high 41 points on 14 of 25 shooting as the Tide held off upset-minded South Carolina 78-76 in overtime. He also  had eight rebounds and three steals. 

Oats praised Miller after the win, calling him “one of the most mental(ly) tough kids I’ve ever coached.” Asked about Miller’s focus, Oats told reporters, “Basketball kind of becomes a safe haven a little bit for some of these guys. They get on the floor and they kind of lock in on what they’ve done their whole lives and get some of the outside stuff out of their mind.’

Asked about why Miller was allowed to play, Oats deferred to Tide athletic director Greg Byrne. Byrne had gone on the ‘ESPN College Gameday’ podcast and said conversations involving him, Oats, Alabama school President Stuart Bell and the university’s legal counsel led the administration to the decision to play Miller. 

“Information was shared collectively, and collectively we decided that Brandon was able to play,” Byrne told ESPN, declining to talk specifics. 

Early Thursday, DeCarla Cotton, the mother of Harris, told USA TODAY Sports it was “unimaginable” that Miller played and continued to not be disciplined by the Tide. 

What’s next for Brandon Miller and Alabama? 

Alabama hosts Arkansas on Saturday at 2 p.m. ET and the game will be televised on ESPN2. 

Miller has not been made available to the media since the police testimony was reported Tuesday. 

This post appeared first on USA TODAY
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Fan runs onto field and punches goalkeeper in Europa League match

Sevilla goalkeeper Marko Dmitrovic was involved in a physical altercation with a fan during a recent Europa League match against PSV Eindhoven.

Dmitrovic was punched after the fan ran onto the field. He was not harmed in the incident and helped subdue the spectator. Players quickly intervened as the fan was led off the field.

The situation generated a lot of attention. Dmitrovic told reporters that UEFA must act to prevent future incidents from occurring during matches.

‘I never saw anything like it,’ Dmitrovic said via the Associated Press. ‘I’m not going to say what I really wanted to do [to the pitch invader]. I’m glad I was aware of where he was coming from and was able to stop him, otherwise other things could have happened. He wanted to hit me, it’s unfortunate that this kind of incident happened on a soccer pitch. UEFA should do something, this has to stop.’

PSV Eindhoven won 2-0 in stoppage time. They were eliminated 3-2 on aggregate after the second match in the series.

UEFA will look into the fan incident. PSV Eindhoven could face potential discipline for the fan’s actions during the match. Sevilla coach Jorge Sampaoli is in favor of a strong punishment after the incident put one of his players at risk.

‘It’s a disgrace that the game resumed,’ Sampaoli said. ‘These acts have to be strongly punished. Otherwise it will happen again and we will not know when it is time to stop when faced with these types of situations.’

This post appeared first on USA TODAY
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NHL trade deadline: These 10 players could be on the move soon

The NHL trade deadline is rapidly approaching.

So far, forwards Bo Horvat (New York Islanders), Vladimir Tarasenko (New York Rangers), Ryan O’Reilly (Toronto Maple Leafs) and Dmitry Orlov (Boston Bruins) are the biggest names who have moved, but there are plenty of other candidates who could be dealt.

Some are pending free agents (both unrestricted and restricted) while others have value because they have term beyond this season. Some are already sitting out as a precaution. But a lot of the top contenders have little cap space, so third teams might need to get involved to absorb some salary cap hits as the Minnesota Wild did during the O’Reilly trade and the Orlov trade.

Here are some of the players who draw interest before the 3 p.m. ET March 3 trade deadline.

Follow every game: Latest NHL Scores and Schedules

Winger Timo Meier, San Jose Sharks

The three-time 30-goal scorer (including this season) has a $6 million cap hit but is making $10 million and the pending RFA would have to get a qualifying offer in that amount. The Carolina Hurricanes and Vegas Golden Knights need help on the wing after respective injuries to Max Pacioretty and Mark Stone. Meier’s name has also been linked to the New Jersey Devils, though they also have to re-sign Jesper Bratt in the offseason. Meier is out with an upper-body injury, but coach David Quinn says it’s ‘nothing major.’

Winger Patrick Kane, Chicago Blackhawks

The pending UFA is a three-time Stanley Cup winner and nine-time All-Star who would boost any contender’s top six. But he has a full no-movement clause and controls where and if he goes. He had indicated that the Rangers would have been a potential destination, but New York acquired Vladimir Tarasenko. The New York Post reported that the Rangers are still interested, and the team did sit out Vitali Kravtsov and Jake Leschyshyn on Thursday night. Kane would fetch the Blackhawks a strong return, important to the team since captain Jonathan Toews’ health issues likely will prevent him from being moved. Kanes numbers are down with the team rebuilding, but he has seven goals in his last four games.

Defenseman Jakob Chychrun, Arizona Coyotes

The Coyotes have been sitting him out since Feb. 11. The left-shot defenseman has 28 points in 36 games. He would fetch a good return because he has two seasons beyond this one for a reasonable $4.6 million salary cap hit, but Arizona could revisit a trade in the offseason, too, if it doesn’t get what it wants. Chychrun has a modified no-trade clause starting next season.

Defenseman Erik Karlsson, Sharks

There’s no guarantee he moves, especially since the right-shot defenseman is signed through 2026-27, but he’s on pace for 100 points in a resurgent season and his trade value would be high. The 2022-23 All-Star has a no-movement clause and an $11.5 million cap hit, but getting a strong return for Karlsson could help first-year GM Mike Grier put his imprint on the team..

Defenseman Luke Schenn, Vancouver Canucks

The Canucks are sitting out the pending UFA. The right-shot defenseman is known for his rugged play (a league-high 258 hits), but his 21 points are one shy of his career best. 

Defenseman Vladislav Gavrikov, Columbus Blue Jackets

The pending UFA is also sitting out and had 33 points last season. The steady left-shot defenseman could potentially fetch a high draft pick if a team comes up short in the bid for Chychrun.

Defenseman Shayne Gostisbehere, Coyotes

The pending UFA left-shot defenseman would add offense to a team’s blue line. But the Coyotes also have to keep an eye on the salary cap floor when making a move. They already picked up Shea Weber’s contract to help.

Forward Max Domi, Blackhawks

He was dealt at last season’s deadline and is on a one-year deal. He leads the Blackhawks with 17 goals and 46 points, better numbers than he had when the Blue Jackets moved him in 2022.

Defenseman John Klingberg, Anaheim Ducks

GM Pat Verbeek moved pending UFA defensemen Hampus Lindholm and Josh Manson at last season’s deadline. He could do the same with Klingberg, who’s on a one-year deal. The right-shot defenseman’s numbers are down on the struggling team, but he can help a contender’s power play.

Forward Ivan Barbashev, St. Louis Blues

The Blues are in a full sell-off mode after moving Tarasenko, O’Reilly and Noel Acciari. Barbashev is their biggest remaining pending UFA. His numbers are down, but he had 60 points last season and was part of the 2019 Stanley Cup team.

Others to watch

Vancouver Canucks winger Brock Boeser. Arizona forward Nick Bjugstad. Minnesota defenseman Matt Dumba and forward Jordan Greenway. Montreal Canadiens forward Sean Monahan. Philadelphia Flyers forward James van Riemsdyk. Nashville Predators defenseman Mattias Ekholm.

This post appeared first on USA TODAY
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