ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Housing Market Intro and Summary The home builder stock buying season started on a firm foundation. November delivered strong follow-through across a broad range of housing-related stocks even as the housing data settles into a period of normalization. Demand for new and existing homes is well off last year’s heated levels. Supply remains extremely tight … Read more
The Turkish lira is in freefall. On November 23rd, the U.S. dollar gained about 12% against the Turkish lira. USD/TRY is up 55% since the end of August and up 74% year-to-date. The current parabolic Turkish lira move culminates an epic battle that Turkey’s President Recep Tayyip Erdoğan is waging against monetary orthodoxy. Erdoğan has … Read more
A major gauntlet dropped on the stock market. Apple (AAPL) soared as high as 3.2% but closed at just a 0.3% gain. AAPL broke out to a new all-time high last week in the middle of a swift 8-day run-up. In that time, AAPL bounced off support at its 50-day moving average (DMA) (the red … Read more
Stock Market Commentary Waning market breadth weighed on a broad swatch of stocks last week. I was compelled to let go of some of my worst losing stocks. I feature a few of them in this inaugural Stock Chart Reviews series. My pace of trades will likely slow for the rest of the year unless … Read more
Splunk (SPLK) started last week with a gap down and 18.1% plunge in the wake of the resignation of CEO Doug Merritt. I thought the sell-off was an over-reaction given Graham Smith, the Chair of Splunk’s Board of Directors, stepped in to play interim CEO. However, the accompanying preliminary Q3 earnings report gave me pause. … Read more