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Archives by Year:
September Nat Gas Got Pinned To $2.85
The entire natural gas strip was led lower today, with the September contract settling down a bit less than a percent. Today was its options expiry, with traders pinning the contract right around the $2.85 level into the expiry. Lingering cash strength again helped keep the September contract from seeing the worst losses as the […]
Kiwi Concerns
· Premise: If key correlations, albeit loose, but not likely spurious, remain intact, and we finally get a nasty correction lower in global stocks, the New Zealand dollar could get clobbered. The chart below compares NZD/USD to the 2-year yield spread between New Zealand and the US, which has collapsed from over 5% back in 2009 […]
The Dish: 12 Short Ideas
Near where I live is a large astronomical radio at Stanford referred to as “The Dish”. It’s a very popular destination for hikers and joggers. Although I think it hasn’t been used in many years, it’s an important landmark around these parts. The “dish” far more on my mind is the one exhibited by just […]
Tuesday Gold Report
Buyers came to rescue as the Dollar breached the June/July support line. This corresponded with gold attacking key resistance at $1220. The Dollar reversed, and Gold rolled over. Technically speaking, the dollar hasn’t declined far enough to support a cycle low. Today’s reversal was likely trend chasers buying support expecting a turnaround. I’m hesitant to […]
USD/CHF: Crowded Longs Scrambling To Abandon Ship?
A full six weeks ago, we highlighted how the combination of a bearish candlestick formation and a clear divergence in the RSI indicator suggested that USD/CHF could be topping (see “USD/CHF: Potential bearish reversal forming at 14-month highs” for more). While its certainly taken longer than expected, USD/CHF has indeed drifted lower since that fateful day, with […]
Is This Really The Longest Bull Market Ever?
They say it’s the longest bull market ever. Certainly makes for a good headline, but what does “bull market” mean? And is determining its length of any value for investors? Let’s take a look. Defining the “Bull” There is no standard definition for “bull market.” If you ask 10 different market participants you could easily get 10 different […]
Gold Rebound Fizzles As US Consumer Confidence Unexpectedly Improves
GOLD TALKING POINTS The recent rebound in gold appears to be losing steam following an unexpected uptick in the U.S. Consumer Confidence survey, but recent price action warns of a larger recovery as the precious metal initiates a fresh series of higher highs & lows. GOLD REBOUND FIZZLES AS U.S. CONSUMER CONFIDENCE UNEXPECTEDLY IMPROVES Gold pulls back […]
Downside Not Upside Global Risk
The UST yield curve continues to flatten (as it does elsewhere). All sorts of mainstream articles have been published lately about it. Many of them often refer to academic pieces ostensibly trying assuage all fears about the yield curve’s threatening inversion. Fret not the distortion, they say. And they are right. As I constantly remind people, […]
Twilio Shatters All Market Expectations
Cloud computing software vendor Twilio (NYSE:TWLO) has been on a roll. It continues to deliver financial results that outpace all market expectations, driving its stock higher. The stock has witnessed a 220% growth rally during the year. Twilio’s Financials For the second quarter of the year, Twilio’s revenues grew 54% to $147.8 million, significantly ahead […]
