ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
A change in leadership at the Central Bank of the Republic of Turkey (CBRT) slammed the Turkish lira (USD/TRY). A little over a week later, the new governor, Şahap Kavcıoğlu, granted an interview with Bloomberg to discuss recent events and monetary policy. The CBRT published a transcript of the brief interview. Thus, I assume the … Read more
Stock Market Commentary After writing the last Above the 40 post, I thought the market would soon force me off the fence and onto the bullish side of the pasture. Even with post-Fed churn in play, the market looked like it was digesting inflation fears pretty well. Instead, a rolling interruption for the stock market’s … Read more
Financial markets hate surprises. Turkey’s President Tayyip Erdogan slammed currency markets to start the week. Two Days after the Central Bank of the Republic of Turkey (CBRT) hiked interest rates again (this time from 17 to 19%), Erdogan replaced the governor. The sacking occurred on Saturday, but the market clearly needed a lot more time … Read more
Stock Market Commentary The stock market continued its streak of trickiness. Buyers and sellers played a fierce bear-bull battle starting with one of the biggest fake-out one-day rallies since last September 2nd’s near parabolic run-up. Fresh money flowed into funds to start the month of March to for gains of 2.4% on the S&P 500 … Read more
Stock Market Commentary The stock market got quite tricky last week. A day after buyers re-established control, sellers returned with a sustained fury. The selling on Thursday reflected the stock market’s split personality while the follow-up selling on Friday seemed broader. The pressure on the the stock market looks like an ominous setup for March … Read more
I am late to the resurgence of Microstrategy (MSTR), but I am finding some valuable lessons in the technical story. MSTR caught fire from an aggressive decision to protect cash reserves with investments in Bitcoin (BTC/USD). As a result, Microstrategy has enjoyed significant price appreciation from the current Bitcoin rally. Along the way, the uptrend … Read more
Stock Market Commentary The split personality of the stock market resolved into major breakdowns in the stock market on Tuesday…for about 30 minutes. Apparently increasing inflation fears gave way to the soothing words of Federal Reserve Chairman Jerome Powell at the Fed’s semiannual monetary policy report to Congress. Buyers quickly met the latest sharp and … Read more
Stock Market Commentary The week ended with a split personality. While the S&P 500 meandered and the NASDAQ flattened, small caps rebounded convincingly. Financials also forged ahead. As a result, the recent end to overbought conditions may only signal (mild) bearish conditions for a portion of the stock market. The Stock Market Indices The S&P … Read more
Stock Market Commentary The new low in volatility that appeared to breathe new life and promise to the overbought period fizzled out. The major indices experienced a downward drift, and the general market struggled to hold onto overbought conditions. The trading drift finally broke below the overbought threshold. The Stock Market Indices The S&P 500 … Read more
“…the CBN [ Central Bank of Nigeria ] has no comfort in cryptocurrencies at this time and will continue to do all within its regulatory powers to educate Nigerians to desist from its use and protect our financial system from activities of fraudsters and speculators..” The Central Bank of Nigeria (CBN), “Response to Regulatory Directive … Read more