ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
(This is an excerpt from an article I originally published on Seeking Alpha. Click here to read the entire piece.) In late May, I wrote two pieces on Lender Processing Services (LPS) that reflected my increasingly bearish opinion on the company: “Rethinking Lender Processing Services Amidst New Allegations and Surging Put Activity” and “Shorts Close … Read more
“IPOs Boost Demand for Silicon Valley Mansions” – Bloomberg “US Housing Crisis Is Now Worse Than Great Depression” – CNBC These two headlines from Tuesday’s financial press describe well the dichotomy in America’s two-speed economy. Corporate profits have never been better but employment has rarely been worse. The housing market in Silicon Valley is benefiting … Read more
(This is an excerpt from an article I published on Seeking Alpha. Click here to read the entire piece.) As I feared would eventually happen, LPS sliced right through support and made fresh two-year lows. On Tuesday, LPS closed down 3.6% on a third straight day of heavy selling volume. *Chart created using TeleChart: Put … Read more
As Banks Hold Foreclosed Homes, a Kink in the Housing Market – NYTimes.com The nation’s biggest banks and mortgage lenders have steadily amassed real estate empires, acquiring a glut of foreclosed homes that threatens to deepen the housing slump and create a further drag on the economic recovery. All told, they own more than 872,000 … Read more
Almost two weeks ago, I wrote a piece titled “Lender Processing Services Poised to Profit as Housing Market Worsens” in which I provided my thoughts and analysis about the latest earnings conference call for LPS. That piece included a detailed review of the entire earnings conference call. I concluded that the information management provided seemed … Read more