ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The current correction has produced a LOT of intriguing charts. The Brazil Index Fund ETF, EWZ, is certainly one of them (shown below). EWZ suffered its largest one-day drop since March, and it has now completed a roundtrip for its Olympics-driven rally. EWZ is now already down 12% from its closing 14-month high just last … Read more
It turns out that the lower lows I noted in T2108, the percentage of stocks that are trading above their 40-day moving averages (DMAs), were indeed leading to at least one more lower low. T2108 fell dramatically today, from 48% yesterday to 23% today. This breaks the July lows as well as the series of … Read more
“…we do not believe that real demand…has really improved much since the end of last year, and we don’t see things in the economy from a flat roll standpoint or long product standpoint whether you’re talking automotive, construction, housing, non-residential construction, oil county[sic] goods or what have you, we don’t see that there is a … Read more
The Wall Street Journal printed a trifecta of articles to day that seem to cry out for the dollar to lift its head out of the sludge. Coincidentally (or not), the dollar rallied for its biggest one-day gain in almost three weeks. In “Uncertainty May Help Dollar“, analysts remind us that the economic recovery remains … Read more
Mortgages – Homeowners Walking Away – NYTimes.com A RECENT study suggests that most homeowners have qualms about abandoning a mortgage that they can afford to pay, even if it straps them to an investment that’s unlikely to pay off anytime soon. (tags: housing mortgage default) Pound Is Poised for Goldman Rally Not Helping Brown The … Read more