ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
(The following news release is satire and reflects my own cynical interpretation of recent news events. But as they say, there is always some truth in humor.) On Thursday, Attorney General Eric Holder introduced the country to the Oil and Gas Price Fraud Working Group to “…focus specifically on fraud in the energy markets” by … Read more
In late February, I lamented that TBT, the Pro Shares UltraShort 20+ Year Treasury ETF, was careening toward a retest of the 200-day moving average (DMA) that it would lose. After three more weeks, the anticipated retest finally occurred, and TBT survived. *Chart created using TeleChart: The retest of the 200DMA was a great reminder … Read more
Buyers are again lifting the stock market from its intra-day lows and providing some potential clues on where to draw the bull/bear lines from a technical perspective. The case for a bullish setup is relatively strong: Three days of high volume selling is washing out sellers. 50-day moving average (DMA) essentially successfully retested, leaving primary … Read more
Coffee prices have soared along with most other commodities over the past year and more. For example, the iPath Dow Jones-UBS Coffee Total Return Sub-Index ETN (aka JO) is up 70% since the end of 2009. The last earnings results from Starbucks (SBUX) demonstrated the stress from these higher coffee prices. The company slightly lowered … Read more
After scanning through the latest quarterly release of the “Statement of Monetary Policy” from the Reserve Bank of Australia, I was reminded that currency traders are trying to prepare for eventual rate hikes from the European Central Bank (ECB) and the Bank of England (BoE): “While financial markets continue to expect the US federal funds … Read more