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Archives by Year:
Michigan Consumer Sentiment: October Final Slips
The University of Michigan Final Consumer Sentiment for October came in at 98.6, down 1.5 from the September Final reading. Investing.com had forecast 99.0. Surveys of Consumers chief economist, Richard Curtin, makes the following comments: The Consumer Sentiment Index has been higher thus far in 2018 (98.5) than in any prior year since 2000, which was the […]
When The Stock Market Headlines The Political Blogs . . .
Here is a graph I saw on Digby’s blog: There was also a highly-recommended, heavily-commented piece at Daily Kos. Here’s a pro tip: when you see a daily stock market move leading the political blogs, it’s a sign of a bottom, not a top. That’s because it’s a sign of emotion, and it means that amateurs […]
AUD/USD, Fresh Low And The Profit
Earlier today, currency bears took pushed the Australian dollar sharply lower against the greenback, which resulted in a fresh 2018 low in AUD/USD. Does this deterioration mean that the road to the south is wide open? EUR/USD vs. Channel From today’s point of view, we see that currency bears pushed EUR/USD lower, which resulted in […]
Phillips 66 (PSX) Beats Q3 Earnings & Revenue Estimates
Phillips 66 (PSX – Free Report) posted third-quarter 2018 adjusted earnings of $3.10 per share, which surpassed the Zacks Consensus Estimate of $2.50. The bottom line increased from the year-ago quarter’s figure of $1.66. The upside came on the back of higher contribution from all the segments. Phillips 66 Price, Consensus and EPS Surprise Quarterly revenues totaled $30.6 […]
3 Reasons Why The US Dollar Fell Despite Upbeat GDP
US GDP grew by 3.5% annualized in Q3, above expectations and this followed an excellent Q2. The US Dollar ticked up at first but is now retreating. There are three reasons for the disappointing reaction. The US economy grew by 3.5% annualized in the third quarter, above 3.3% expected. This is the second consecutive quarter […]
The Fed Is Not Going To Rescue Stocks This Time
For those who think the Fed is going to “save stocks” think again. As I repeatedly have warned throughout 2018, the Fed is FAR more concerned about BONDS, than stocks. When stocks collapse, investors lose money. When bonds collapse, entire countries go broke. With that in mind, once the US bond market began to collapse, pushing […]
Obi-Ed Update
Chatting with my good trading buddy Patrick Ceresna of MacroVoices and BigPictureTrading fame yesterday and he said to me, “what’s with this crap (ok, he didn’t use the word crap, but let’s pretend) with you being so negative? I am supposed to be the bearish one.” It made me laugh, and I started to worry that I might be […]
Goodyear (GT) Q3 Earnings Lag Estimates
Goodyear (GT – Free Report) came out with quarterly earnings of $0.68 per share, missing the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $0.71 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -10.53%. A quarter ago, it was expected that […]
Amazon Crashes 10% – Blows Through Critical Support
For the first time since March 2016, Amazon’s share price has crashed below its 200-day moving average. Down 10% on the day, after missing revenues overnight, all of the FANG stocks are getting crushed… Dragging Nasdaq dramatically lower… (S&P and Dow are back in the red for 2018) Expect the Plunge Protection Team any second – […]
Gold Stocks And The Sell Signal From The Inverse H&S Pattern
Wait, what?! Isn’t the inverse head-and-shoulders a bullish pattern that was supposed to take gold miners much higher? Indeed, it is. But it didn’t take gold miners much higher and all that the completion of the above-mentioned pattern generated was a corrective upswing that didn’t even take gold stocks back above their December 2016 lows. And we […]
