ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The inverse correlation between the U.S. dollar and the stock market has snapped back into play with a vengeance since the 15-month closing highs for the S&P 500 set on January 19th. On that day, the dollar index rose for a second day, forming what was to become the bottom of a small pullback in … Read more
It appears even gold remains caught up in the carry trades that have supposedly kept commodities aloft for months. Gold plunged almost 4% along with a deep sell-off in the general market. As the market suddenly cared again about the prospects for sovereign defaults all over Europe, traders and investors dumped gold – and almost … Read more
U.S. criticizes Japan's latest 'clunkers' plan | The Detroit News U.S. Trade Representative Ron Kirk said Japan's decision to use EPA "city" mileage ratings instead of EPA "combined city/highway" mileage ratings as the basis for determining eligibility sharply limited the number of U.S. models that will qualify under the program in the world's third-largest auto … Read more
BoC, Other Banks Tighten Property Loans – JLM Pacific Epoch Some commercial banks are suspending loans to real estate developers, due to excess lending in 2009 and greater regulatory focus on real estate risk, China Business News reports February 3 quoting an unnamed commercial bank employee. (tags: China real_estate banks) Amazon's E-Book Price Reversal: A … Read more
After summarizing Fastenal’s dour commentary on non-residential construction, I pointed out that a retest of former resistance would make an attractive entry point on the stock. As planned, I initiated a (swing) trade on Fastenal (FAST) as it probed the 50DMA support over the past several days. Today, FAST bounced off the 50-day moving average … Read more