ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Trading for the iPath Bloomberg Cocoa SubTR ETN (NIB) could have started quite negatively this week. Yesterday, On May 29th, Bloomberg reported from unnamed sources that Ghana’s main crop for the cocoa growing season would produce its highest tonnage in three years: “Graded and sealed deliveries from the so-called main crop, the larger of two … Read more
AT40 = 47.5% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 55.3% of stocks are trading above their respective 200DMAs VIX = 9.8 (volatility index) Short-term Trading Call: cautiously bullish Commentary I should no longer be amazed, but I am still amazed: the inability of sellers to generate follow-through in … Read more
The downtrend for the iPath Bloomberg Cocoa SubTR ETN (NIB) won out yet again. Source: FreeStockCharts.com The buyers looked particularly convincing for NIB’s latest 50DMA breakout. Yet, a 1-2 punch of a return of good weather results in Ivory Coast and a particularly aggressive crop production forecast from Rabobank killed the latest rally for NIB. … Read more
I finally have to release my long-standing bullishness on the U.S. dollar index (DXY0) even as the dollar recently managed to bounce off its critical, uptrending 200-day moving average (DMA). Source: FreeStockCharts.com Looking at this chart, I get the feeling of something that is biding its time for a definitive catalyst that pushes it down … Read more
AT40 = 54.4% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 59.4% of stocks are trading above their respective 200DMAs VIX = 10.6 (volatility index) Short-term Trading Call: bullish Commentary Two hallmarks of this current stock market have been the 1) consistent weakness of sellers and 2) the persistent ability … Read more