ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The tides are once again turning against the Turkish lira. For a week, USD/TRY battled with resistance at its 200-day moving average (DMA). Over the last two trading days, the currency pair finally made new closing highs on the 200DMA breakout. USD/TRY faded after testing the highs from the last 200DMA breakout in July. USD/TRY … Read more
A month ago, I wrote about the near seasonal pattern of speculators accumulating net long contracts in gold and silver from July troughs to October peaks. THIS year, the speculators started up on schedule but aborted the mission as net longs peaked well ahead of October. Source: Oanda’s CFTC’s Commitments of Traders So seasonal patterns … Read more
DexCom (DXCM) is a maker of continuous glucose monitoring (CGM) systems. Last week, the stock of the company cratered after Abbott Laboratories (ABT) received FDA approval of its competing FreeStyle Libre flash CGM. It is the first system that allows diabetics to check and monitor glucose levels without sticking themselves. In response to the news, … Read more
It looks like speculators flipped the script to go net long on the British pound (FXB) just in time to catch a peak. Source: FreeStockCharts.com As the chart above shows, GBP/USD just broke down below support at its 50-day moving average (DMA). The move looks like an exclamation point following the full reversal of the … Read more
Almost two months ago I wrote about the strong earnings profile and prospects of ShotSpotter (SSTI), a gunfire detection and location technology company. At the time, I noted that President Trump’s threat of “fire and fury” aimed at North Korea seemed to drown out the news. Today, in the wake of a horrible tragedy of … Read more