ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Last Friday’s 29% plunge in Opera Limited (OPRA) seized the attention of the company and its “cornerstone shareholder” Kunlun Tech Limited. With the swiftness of a crisis management team, the two combined to sing a sweeter tune for investors. In a follow-up SEC filing, Opera Limited clarified that last week’s announced shelf filing simply replaces … Read more
Stock Market Commentary: Was the second trading day of February the peak for the S&P 500? After a 1.4% gain nearly finished reversing the losses from last August’s Jackson Hole, the index lost momentum. While the index churned for the following 2 weeks, trashed stocks from 2022 continued to soar. Even that momentum seemed to … Read more
Stock Market Commentary: Last week ended the overbought period with a relatively strong report on initial claims for unemployment. The stock market – still freshly stung with the memory of the previous week‘s exceptionally strong jobs report – sold off sharply in response to the good economic news. A stubbornly resilient labor market continues to … Read more
Stock Market Commentary: The stock market had quite a bullish week especially considering another Federal Reserve meeting is right around the corner. The week started with a push into overbought conditions and buyers proceeded to slowly steepen overbought conditions the rest of the week. I am quite surprised by this bullish anticipation ahead of the … Read more
Stock Market Commentary: The Q3 2022 U.S. GDP report from the Bureau of Economic Analysis undermined this year’s strident claims that the economy overall is already in recession. Q3 GDP grew 2.6% largely thanks to a 2.8% growth in personal expenditures for services (one more validation of the relatively strong jobs market) and thanks to … Read more