ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The dark side of Dubai – Johann Hari, Commentators – The Independent Once the manic burst of building has stopped and the whirlwind has slowed, the secrets of Dubai are slowly seeping out. This is a city built from nothing in just a few wild decades on credit and ecocide, suppression and slavery. Dubai is … Read more
Dubai business leaders, media say woes overblown | Reuters Dubai media and several business leaders rallied to support the Gulf Arab emirate's efforts to manage its debt crisis, saying problems have been exaggerated and the impact of restructuring overblown. (tags: Dubai debt default bubbles) New crisis ahead? 5 things to watch – Jon Markman …the … Read more
The weakness in the shares of Research In Motion (RIMM) persists despite the company’s apparent initiation of its share buyback program on November 9, 2009. Two weeks ago, I used intra-day trading action to suggest that RIMM launched its share buyback program. Overall daily volume surged for three days along with price. The stock then … Read more
U.A.E. Removes Sunday London Times From Newsstands – WSJ.com The Sunday London Times newspaper was removed by authorities from shelves in the United Arab Emirates on Sunday amid intensive reporting of Dubai's debt problems, an executive at the paper said. (tags: Dubai debt default censorship U.A.E.) The Department of Lucrative Athletics – NYTimes.com The rise … Read more
While Friday’s Dubai-related selling left the S&P 500 flat for the last two weeks, Goldman Sachs (GS) dropped almost 3% and punched a new low for November (see chart below). This new low now places GS in its first short-term downtrend since February/March, and it marks a serious failure from the 50DMA resistance. This downturn … Read more
DUBAI DEBACLE – Market Nut A collection of links related to the Dubai financial debacle (tags: Dubai debt default) The collapse of an economy that was built on sand – The Independent In the years of the boom, Dubai set about building with an ambition that would have made even Ozymandias blush. (tags: Dubai debt … Read more
Swiss franc falls on reports of central bank move – Yahoo! Finance The Swiss franc fell Thursday on reports that the country's central bank intervened in foreign exchange markets to stem the export-sapping appreciation in the currency. (tags: Swiss_franc currency) Dubai debt delay rattles stock, bond markets | Reuters Shares in banks, builders and companies … Read more
The stock for Toyota Motors (TM) broke below the key support line of the 200-day moving average today. Since peaking in August, TM has lost 12%. TM now looks poised for a test of the summer’s lows and perhaps even retesting of March price levels. *Chart created using TeleChart: TM is a major component of … Read more
The Bank of England (BoE) released its “Inflation Report” on November 11, 2009. This was my first time ever reviewing the report and watching BoE Governor Mervyn King in action as he coolly parried with reporters during the press conference covering the report. The latest Inflation Report frequently references the benefits of the depreciation of … Read more
The Debt Buildup The federal government's debt, stoked for years by deficit spending, has surged because of the economic crisis…when interest rates begin to rise, the government will face problems similar to those of homebuyers who took out teaser rates that jump after one or two years. (tags: debt deficit govt_spending)