ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
My wait for an entry point to buy Lennar (LEN) continues. On a day with multiple warning signs about the U.S. economy from companies like Csx Corp (CSX), the Census Bureau piled on with lukewarm data on housing starts. While single-family housing starts for June increased month-over-month by 3.5% to 847,000, housing starts decreased on … Read more
As Bitcoin (BTC/USD) pulls back again to the $10,000 level, there is a lot of news swirling to explain the sell-off. Google Trends still works as a way to cut through the haze on Bitcoin. Fresh Validation for The Google Trend Momentum Check When Bitcoin ended its last parabolic run on June 26, Google Trends … Read more
The breakout for home builders started with M.D.C. Holdings (MDC). MDC raised guidance and put strong emphasis on the positive expectations for its next earnings report. With analysts overwhelmingly bearish on the stock, the stock had plenty of upside surprise potential. The pent-up demand created a tremendous upward surge. Additional home builders are joining what … Read more
The week of trading in foreign exchange began with the shock announcement of a leadership change at the Central Bank of the Republic of Turkey (CBRT). Murat Uysal, the Deputy Governor since June 9, 2016, was promoted to Governor. Uysal replaced Murat Cetinkaya who had been Governor since April, 2016. Cetinkaya actively resisted calls from … Read more
Iron Ore Resistance Iron ore prices have been on a tear this year, and China’s steel mills are not going to take it anymore. According to Reuters: “…eight steel mills will create an investigation group, led by Baowu and assisted by the others, to look into the pricing methodology of imported iron ore, to coordinate … Read more