ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Stock Market Commentary At the end of September, I asked skeptically whether an oversold bounce could prevent an October swoon. As I suspected at the time, the answer turned out to be no. The market-moving headlines for October have included weighty, tragic, and alarming news making for a demotivating trading environment. An oversold bounce earlier … Read more
Stock Market Commentary “This may be the most dangerous time the world has seen in decades.” This statement from Jamie Dimon, CEO of JPMorgan Chase (JPM), concluded his commentary on the bank’s Q3 earnings report. These words on Friday morning fittingly concluded a sobering week that started with tragedy and war raging in Gaza and … Read more
Stock Market Commentary The economist “consensus” expectations for September job growth missed the mark by a mile, 336,000 actual versus 170,000 projected. These big misses represent the on-going struggles of conventional economics to understand the dynamics of today’s post-pandemic economy. Initially, the good jobs news frightened financial markets which think of good news as bad … Read more
Stock Market Commentary A week ago, buyers did their best to push against topping stock indices by restarting overbought conditions. That overbought period lasted just 3 days as a Fitch downgrade of U.S. Treasury debt freshly cooled the summer of loving stocks. The resulting selling confirmed topping conditions and greased the skids of the stock … Read more
Stock Market Commentary The stock market delivered a gift on Friday as I scrambled to de-risk following the Bank of Japan’s drama on monetary policy. I braced for selling into bearish pressure and instead was pleasantly greeted by a broad push higher for stocks from the open. After the dust settled on the day, I … Read more