ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Source: CNBC Ever since LongFin Corp. (LFIN) soared astronomically four days into its stint as a publicly traded company, I have been fascinated by the story. At the time I covered the story, I wrote: “The trading in recent IPO LongFin Corp. (LFIN) may go down as iconic in this era of frenetic trading in … Read more
The Turkish lira is in trouble again. Last week, USD/TRY hit an all-time high amid more dire headlines for the Turkish economy and the monetary policy of the Central Bank of the Republic of Turkey (CBRT). On April 3rd, Bloomberg reported the following issues: 7.4% GDP growth in 2017 is overheating the economy. Turkish companies … Read more
On March 8th, I finally took profits and sold the rest of my holdings in iPath Bloomberg Cocoa SubTR ETN (NIB). In the past week, NIB came back down to my price and the ETN closed below my selling price to finish the week. I now think the price of cocoa, and thus NIB, has … Read more
AT40 = 37.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 40.2% of stocks are trading above their respective 200DMAs VIX = 21.5 Short-term Trading Call: neutral Commentary via GIPHY The week ended badly with a 2.2% drop in the S&P 500 (SPY). The week began with the exact same … Read more
When I last wrote about the Mexican peso three months ago, I described the NAFTA-driven context surrounding the breakdown of USD/MXN below its 50-day moving average (DMA). I was still holding onto a long-standing short on USD/MXN. I managed to keep holding this short until Wednesday evening (April 4, 2018). Source: TradingView.com I closed my … Read more