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Archives by Year:
Merck Rises, Bristol-Myers Slides Following Cancer Meeting
Shares of Merck (MRK) are rising this morning, while peer Bristol-Myers (BMY) is sliding, after both companies presented new data on their respective cancer immunotherapy treatments at the American Association for Cancer Research annual meeting that began over this weekend. MERCK’S KEYTRUDA: In conjunction with the AACR meeting, Merck announced results from KEYNOTE-189, a pivotal […]
Investors Continue To Buy Up GBP In Anticipation Of BOE Rate Rise
EURUSD Non-Commercials increased their net long positions in the Euro last night buying a further 13k contracts to take the total position to 147k contracts. EUR long positioning is now back up to its highest levels of the year as the market readies itself for ECB monetary policy normalization. Recent data has caused some market players […]
Many Attempts And Still No Breakout
The U.S. stock market indexes lost between 0.3% and 0.5% on Friday, following higher opening of the trading session, as investors were worried about Syrian conflict escalation. The S&P 500 index retraced some of last week’s uptrend and it currently trades 7.5% below its January 26 record high of 2,872.87. Both, Dow Jones Industrial Average gained and […]
Gettin’ High On Bubbles
Back in the drug-soaked, if not halcyon, days known at the sexual and drug revolution—the 1960’s—many people were on a quest for the “perfect trip”, and the “perfect hit of acid” (the drug lysergic acid diethylamide, LSD). We will no doubt generate some hate mail for saying this, but we don’t believe that anyone ever […]
Billion Dollar Unicorns: Can Fortinet Get To $10 Billion In Revenue?
I interviewed the CEO of Fortinet Ken Xie way back in 2010, a year after it went public. Ken had also co-founded NetScreen, which was acquired by Juniper for $4 billion stock in 2004 when it had revenue of $200 million. Both companies bootstrapped first and raised money later. Today, Fortinet (Nasdaq: FTNT) is a global […]
US Retail Sales Are Only OK – EUR/USD Can Continue Higher
The EUR/USD holds onto its gains after the US released a mixed bag of Retail Sales data Headline sales rose by 0.6%, better than expected, but the Control Group was not that great. The US Dollar was on the back foot ahead of the publication and the picture has not changed. US Retail Sales rose […]
Empire Manufacturing Report Weakens
It looks as though manufacturing activity in the NY Fed region is slowing in April as the Empire Manufacturing report came in weaker than expected, showing a larger than expected decline. While economists were expecting the headline number to show just a modest decline from 22.5 down to 18.4, the actual decline was a bit […]
Breaking Out Of The Box
My Swing Trading Approach I reduced my long exposure some on Friday, but still maintain 30% long and 70% cash. So if the market gap higher this morning can hold up, I’ll look to add more to the long side. Indicators VIX – Sold-off hard to the downside. Friday sold off another 5.8% and now in […]
VIX Speculators Have Never Been ‘Longer’
Shortly after the collapse of the ‘short-vol’ trade in February, VIX speculators were ripped into an unprecedented long position (i.e. betting on higher vol) and while VIX has fallen from its peak chaos levels, speculators have added to their ‘rising risk’ bets. It appears ‘Buy the dip’ has reached the volatility markets… As Bloomberg notes, hedge funds have increased […]
Crude Oil – As Bullish As It Seems?
A fresh 2018 high, an unbroken resistance and negative divergence. What does this interesting mix tell us about oil bull’s strength and further increases? Technical Analysis of Crude Oil Let’s examine the charts below (charts courtesy of http://stockcharts.com). The first ting that catches the eye on the daily chart is a fresh 2018 peak created on Friday. […]
