ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The Bank of Japan (and/or the Japanese Ministry of Finance) has an excellent sense of timing technicals. Last night’s intervention to put an end to the on-going strength in the Japanese yen came just as the U.S. dollar looked ready to follow-through on its break of the important support at the 200-day moving average (DMA). … Read more
For the two weeks ending August 31, short interest in Cisco (CSCO) surged 26% to 52.4 million shares (only 0.7% of float). This is close to the current 52-week high set on March 15. Over the past year, there were only two other periods that matched this recent surge in percentage terms: short interest increased … Read more
Ever since my friend “Mr. Bull” gave me a ribbing over writing a bearish piece on Intel (INTC) the day before a strong one-day rally, we have used Intel as a metaphor for whether the bulls or the bears are in control of the market. For the five weeks since then, INTC has gone nearly … Read more
Earlier today, the Bank of England (BoE) maintained interest rates at 0.50% and did not change the size of its quantitative program… and the market essentially yawned. Such sluggish behavior has characterized the British pound’s behavior against the U.S. dollar for almost three weeks now. Source: dailyfx.com charts (Click for larger view) The over-extension of … Read more
While we await another challenge of the June highs by the S&P 500, copper has quickly recovered almost all its losses from the sell-off that began in May. Copper is potentially heading for fresh post-crash highs. Source: stockcharts.com Of course, copper is now much more important to the emerging and developing markets than to developed … Read more