ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The Australian dollar is my favorite currency. I have remained very bearish on the British pound since first writing about the currency last September (yes, there actually IS a currency I dislike more than the U.S. dollar!). For whatever reason, it only recently occurred to me to pull up a long-term chart comparing these two … Read more
FT Alphaville » BNP Paribas says a weak euro could rescue Europe When FT Alphaville met with BNP Paribas’ head of currencies Hans Redeker in an informal meeting a couple weeks back, one of the subjects discussed was the need for a weaker euro to stimulate German exports beyond the Eurozone to offset falling demand … Read more
The S&P 500 is now over 4% off the lows from oversold conditions. 40% of this entire move came on today’s surge as the dollar plunged over 1% versus the euro. The thrills occurred DESPITE poor news flow from the Greek sovereign debt drama: for example, imminent strikes to protest austerity measures and German hesitancy … Read more
“The rich rule over the poor, and the borrower is servant to the lender.” (Proverbs 22:7, New International Version) This proverb is understood all too well by anyone who has become impoverished by severe indebtedness. I thought of this proverb as I read a Reuters article titled “Eurozone gives Greece 30 days to show good … Read more
Research In Motion (RIMM) is riding a bit of upward momentum into this week’s Mobile World Congress conference in Barcelona. The chart below shows that RIMM has broken above the 200-day moving average (DMA) on above average volume. If RIMM finally breaks the $72 resistance line, it could run up relatively quickly to fill September’s … Read more