ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Last week, financial markets were abuzz with rumors that Canada was preparing for the U.S. to exit NAFTA, the North American Free Trade Agreement. No official statement ever emerged and within three trading days the entire impact of the scare reversed. For example, the rumors weakened the Canadian dollar (FXC) significantly against the U.S. dollar … Read more
Speculators have not been this bullish on the euro since at least 2008. Source: Oanda’s CFTC’s Commitments of Traders These charts reveal a distinct sentiment shift on the euro this year. Since 2008, speculators spent the majority of the time as firm euro bears. The new high in net long positioning going into 2018 signals … Read more
The currency market painted a bullish interpretation of the latest monetary policy decision from the Reserve Bank of Australia (RBA). By the time of the September quarter GDP report, that incremental bullishness disappeared and setup a bearish interpretation of the Australian economy. Source: FreeStockCharts.com The net result, which includes a U.S. jobs report, is an … Read more
Almost a month ago, I celebrated a major breakout for iPath Bloomberg Cocoa SubTR ETN (NIB) by declaring a confirmed bottom. That bottom still holds but unfortunately NIB has persistently declined since then. NIB is down 15.2% from the time of that post. Source: FreeStockCharts.com At the time of my last post, the International Cocoa … Read more
When it comes to insider transactions, I only pay attention to the purchases and sales of company executives – the CEO and CFO in particular. According to an SEC filing on December 6, 2017, CFO Alan R. Stewart purchased 3,000 shares at the price of $13.53. This additional $40,590 investment is a notable vote of … Read more