ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
As the Nigerian naira plunges in value, Nigerians are scrambling for ways to protect their purchasing power. In this modern era, Bitcoin (BTC/USD) offers the promise of a digital store in value. Accordingly, Nigeria has returned to the number one spot in the world for national share of searches taken by Bitcoin according to Google … Read more
Stock Market Commentary: Last week started strong with Goldman Sachs (GS). Analysts there looked beyond the coming Federal Reserve meeting and hiked their year-end price target for the S&P 500 to 4500. The index quickly moved half the remaining distance and opened the door for more price chasing by analysts before 2023 hits the halfway … Read more
Stock Market Statistics AT40 = 79.6% of stocks are trading above their respective 40-day moving averages (DMAs) (Day #10 overbought) AT200 = 76.0% of stocks are trading above their respective 200DMAs (near 3-year high and holding breakout above post financial crisis downtrend) VIX = 20.8 Short-term Trading Call: neutral Stock Market Commentary Instead of Monday, … Read more
Stock Market Statistics AT40 = 74.4% of stocks are trading above their respective 40-day moving averages (DMAs) (Day #1 overbought, 3 of last 4 days ooverbought) AT200 = 68.1%% of stocks are trading above their respective 200DMAs (near 3-year high and holding breakout above post financial crisis downtrend) VIX = 23.1 Short-term Trading Call: neutral … Read more
AT40 = 38.2% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 50.9% of stocks are trading above their respective 200DMAs VIX = 18.8Short-term Trading Call: cautiously bearish Stock Market Commentary Last week, I switched from neutral for the first time in, I believe, months. I downgraded to “cautiously bearish” because … Read more
I have been waiting since September, 2018 for the next opportunity to buy back into Nigeria through the Global X Nigeria Index ETF (NGE). The moment for me to buy is finally here. NGE has printed all the encouraging signs of a tradeable bottom: A double bottom: August to October, 2019 at the all-time lows. … Read more
AT40 = 51.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 54.6% of stocks are trading above their respective 200DMAs VIX = 12.1 Short-term Trading Call: cautiously bullish Commentary I flipped cautiously bullish last week. As I suspected, the prospects for a bounce were not as good as the previous … Read more