ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The number $50 per ounce appeared in another discussion about silver. I first came across this target in James Turk’s theory about three stages for silver’s bull market with stage 2 beginning at $50. This time $50/ounce came up in an interview with Silver Wheaton’s CEO, Peter Barnes, as he discussed SLW’s earnings results on … Read more
Higher oil prices are not helping solar stocks. Instead, earnings disappointments and hand-wringing in Italy over solar subsidies and policy have put downward pressure on almost the entire sector. While it seems the second half of 2011 could be rough for solar stocks, the current sell-off seems to be creating some buying opportunities. First Solar … Read more
In “The Tech Trade,” Eric Savitz provides details on a downgrade of Amazon.com (AMZN) by UBS. The title seems quite alarming: “Amazon: Streaming Video Will Pressure Margins, UBS Warns.” After I realized UBS was taking its price target from $195 to $180, just above AMZN’s current price of $177, I wondered why this research note … Read more
The stock market printed a timely and picture-perfect bounce on Friday. Ahead of the rally, I presented the relatively strong case for the bulls based on the previous 3-day pullback. By closing above Wednesday’s high of 1318, the S&P 500 is also poised to continue its gains. However, looking beyond this bounce from support, the … Read more
The risk of holding TBT, the Pro Shares UltraShort 20+ Year Treasury, rose significantly last week. The sudden surge in oil prices in response to the rebellion in Libya has put the double-dip recession back into play and once again lodged it into the frontal lobes of market players. Recession fears bring fresh affinity for … Read more