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Archives by Year:
Advance Indicators: Trade Deficit Widens, Wholesale Inventories +0.3%, Retail Inventories -1.0%
The advance (first) estimate of third-quarter GDP comes out tomorrow. The final economic report before the BEA’s GDP announcement is the Census Bureau’s advance indicator report for September. The report will likely lower GDP estimates. Econoday Comment “Wholesale inventories rose 0.3 percent in September but retail inventories, also released with today’s report, fell a sharp 1.0 […]
Five Large Cap Stocks With Great Momentum
Today, I wanted to find 5 Large Cap stocks that had great current momentum so I used Barchart to sort the S&P 500 Large Cap Index stocks first for the most frequent number of new highs in the last month, then again for technical buy signals of 80% or more. Today’s watch-list includes: Ansys, DR Horton, TE […]
Bitcoin, Gold & Money
We start with a quote by Donald Trump, courtesy of CNN, May 16, 2016: “This is the United States government. First of all, you never have to default because you print the money, I hate to tell you, OK?” We juxtapose that quote with Francesco Bianchi and Leonardo Melosi’s excellent research paper published by the […]
Bristol-Myers (BMY) Misses On Q3 Earnings, Opdivo In Focus
Bristol-Myers Squibb Company’s (BMY – Free Report) third-quarter 2017 earnings of 75 cents per share fell short of the Zacks Consensus Estimate as well as the year-ago quarter earnings of 77 cents. However, total revenue of $5.25 billion came ahead of the Zacks Consensus Estimate of $5.2 billion as well as $4.9 billion recorded in the year-ago […]
This And That
“The Bull Market in Everything” was last week’s cover of The Economist magazine. Hyperbole, of course, but not entirely. The bull market for stocks is unaffected by natural disasters, fires or man-made catastrophes such as what happened in Las Vegas. One reason is that the recent economic data are pointing toward better days ahead here […]
Canadian Bank Governor Poloz Pulled A Trichet
Remember when Bank of Canada Governor Poloz surprised the market with a second rate in early September? It caught the market off-guard as the market had priced in much less than a 50% chance of a hike. Here is the chart of the BAX futures and CAD on the day Poloz shocked the market with the […]
Anatomy Of A Successful Trading Strategy
We are about to get a low-risk buy point in the stock market. It’s very late in the daily cycle. Stocks are in the timing band for one of those buying opportunities where you can put your stop right below the cycle low and risk is very small. But most people trade emotionally instead of […]
China Issues First Dollar Bond Since 2004, Bails Out Corporate Liquidity
Despite downgrades from the rating agencies, China is issuing its first sovereign dollar bond issues in 13 years on an unrated basis (what do the agencies know anyway) and at tight spreads to US Treasuries. The 5 and 10-year issues come just over a month since S&P cut the nation’s rating one level to A+ on 21 September 2017. […]
EUR/USD Flirts With Disaster As Post-ECB Sell-Off Targets Key Support
EUR/USD Daily Chart Technical Outlook: The post-ECB Euro sell-off is approaching a key support confluence at the 1.1679-1.1707– a region defined by the lower median-line parallel, the 23.6% retracement of the 2017 range and the 100-day moving average. Note that the monthly opening-range lows also converges on this region further highlights the technical significance of this zone. A break / close […]
September 2017 Pending Home Sales Seasonally Adjusted Index In Contraction
The National Association of Realtors (NAR) seasonally adjusted pending home sales index was unchanged. Our analysis says it declined. The quote of the day from this NAR release: …the quest to buy a home this fall continues to be a challenging endeavor for many home shoppers … Analyst Opinion of Pending Home Sales The rolling […]
