Author Archive: Jeremy Parkinson
The Fate Of Facebook’s Momentum About-Face
The following monthly chart of FB shows that price has plunged to near-term support defined by its longer-term uptrend channel median and 23.6% Fibonacci retracement level (166.22). The reversal from its all-time high made last month has been accompanied by accelerating (to the downside) Momentum (peaked in October 2017) and Rate-of-change (peaked in September 2017) technical indicators which, in fact, reversed well ahead […]
Micron Is Sitting In The Catbird Seat
Micron (MU) reports quarterly earnings after hours. Analysts expect revenue of $7.28 billion and eps of $2.74. The revenue estimate implies 7% growth Q/Q. Investors should focus on the following key items. Gaudy Top Line Growth A year ago Micron’s operations were characterized by slowing revenue growth an declining gross margins. My biggest fear was […]
Completely Zucked
Here’s the medium-term pattern on Facebook, which is one of my shorts. And here’s the big picture, showing that the stock is miles away from long-term support.
EC TED, Fed, Credit
There’s a lot going on in this space at the moment, so I thought it would be good to weigh in on the topics of the TED spread, the Fed, and credit conditions/credit markets. Those with bearish inclinations have jumped and salivated at the prospects of spread widening, funding cost blowouts, and the lies of […]
Trump Slaps $50 Billion In Tariffs On China, Escalates Trade War
Ok, so here it is. As widely reported, the U.S. is set to levy some $50 billion in tariffs on Chinese imports in an effort to “offset” the theft of IP. Trump’s going to sign the tariffs memo at 12:30. The tariffs will be published within two weeks and they’ll be an open 30-day public comment period prior […]
Conference Board Leading Economic Index: Another Increase In February
The latest Conference Board Leading Economic Index (LEI) for February increased to 108.7 from 108.0 in January. The Coincident Economic Index (CEI) came in at 103.3, up from the previous month. The Conference Board LEI for the U.S. increased for the fifth consecutive month in February, fueled by positive contributions from most of the components except for […]
Stay Away From This Crypto Bubble (For Now)
The crypto ship is sailing in rough seas at the moment. My advice? Stay away for now. Preserve your capital for after the major crash, and then pick winners from the bones. The Bitcoin and cryptocurrency trends seem to be following the path the internet took back in the very late 1990s. That bubble came at the end of […]
Fed Chair Discounts Recession Forecast By Yield Curve
Federal Reserve Chairman Jerome Powell, at his first press conference as the head of the central bank, announced a hike in interest rates. Tighter monetary policy was widely expected. What was surprising was Powell’s comments on the value of the Treasury yield curve as a tool for predicting the next US recession. Responding to the […]
Last-Minute Deductions That Could Lower Your 2017 Tax Bill
As you work on finalizing your 2017 federal income tax return, you may be searching for some last-minute deductions to help reduce your tax liability. Here are a few places to consider: Taxes You Paid You can deduct most taxes you paid last year on your 2017 income tax return. The main exceptions are federal […]
