ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Three months ago, I worried that the Central Bank of the Republic of Turkey (CBRT) was moving too late to hike interest rates. The Turkish lira (USD/TRY) is now finally working its way lower from those levels as the Turkish lira fever breaks. The path to today’s near 4-month low was fraught with wild volatility, … Read more
Stock Market Commentary The stock market quickly moved away from its close call with overbought conditions to pulling off a refresher for extended overbought conditions. The acquiescence of President Trump in signing a heavily negotiated, highly contentious pandemic relief bill seemed to provide the spark for the buying in the major indices. The Stock Market … Read more
My first “test” trade on Ethereum (ETH/USD) succeeded. I took profits on ETH/USD as it faded from $700 and a 2 1/2 year high. I wanted to hold on, but the clincher triggered with Bitcoin (BTC/USD) fading sharply from its latest all-time high. The fade appeared to signal the beginning of the end of this … Read more
U.S. traders and investors often but into or at least largely ignore news of anti-trust actions against publicly traded companies. Alibaba Group Holdings (BABA) was not as fortunate at least for today. Alibaba stock plunged as much as 17.5% before closing with a 13.3% loss in the wake of news that the State Administration for … Read more
The Amazon Panic An “Amazon Panic” describes a rush of selling in the stocks of companies potentially impacted by a new initiative from Amazon.com (AMZN). Invariably, the dust settles, the panic subsides, and buyers pick up the pieces. The whirlwind is a short-term, quick trigger reaction to a world shattered by Amazon. An Amazon Panic … Read more