ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The lack of trading volume has been a common knock on the market, making any and every rally difficult to trust. But this is a market of stocks, and volume must be showing up somewhere, right? I decided to run a few scans to track down what stocks have really captured the market’s interest in … Read more
“…the Republicans, I think, have been cutting taxes with borrowed money, and the Democrats have been spending with borrowed money. They agree only on the borrowed money. And the system cannot take that…We are now at a state where, excluding World War II, we are in the worst shape of the relationship between borrowing capacity … Read more
Over the last few months of tracking the S&P 500 I have not given much thought to the “reverse head and shoulders” (H&S) pattern. It is now time to pay attention. Friday’s continuation of the current rally is not just part of a steady uptrend from the August lows that has successfully punctured through important … Read more
Adobe Systems, Inc. (ADBE) was punished on Wednesday for an earnings report that produced guidance slightly below analyst expectations. The stock dropped as much as 26% after ADBE guided Q4 earnings to $0.48-0.54 EPS vs. $0.53 analyst consensus and Q4 revenues $950M to $1.0B vs. $1.03B analyst consensus (from briefing.com). The severity of the sell-off … Read more
Bill Fleckenstein, President of Fleckenstein Capital and one of my favorite money managers, was on CNBC’s Fast Money Wednesday night giving his typical, colorful commentary on gold. I am posting an approximate transcript to his brief interview because it included what I think should be a classic moment in gold commentary. Toward the end of … Read more