Author Archive: Jeremy Parkinson
Bitcoin Daily Forecast – Monday, August 13
BTC/USD Bitcoin markets fell during the trading session on wiping out about half of the gains from Thursday. We still hover above the crucial $6000 level though, so over the weekend, we may see a bit of a bounce in low volume environments. However, there is a daily downtrend line that crosses right around the […]
SPY Once Again Rejected At Channel Resistance – More Downside Likely Ahead
SPY last week was rejected at channel resistance, coming up $0.63 short of surpassing the all-time high of $286.63 reached January 26. The path of least resistance is down. A covered put might help. There are interesting dynamics at play in earnings estimates for US large-caps. Operating estimates for S&P 500 companies are sideways to […]
E Markets: Another War?
We started with trade wars, moved to currency wars and now are in economic war. Turkish President Erdogan uses the term as he rails like King Lear against the storm. The difference maybe just words but the sentiment is that all tools are available for retaliation. The sanctions from the US on Russia and Turkey […]
Spillover Emerging
Plenty of interesting moves in the markets lately. Top of every investor’s mind is the Turkish Lira and its ongoing slide. Also, the Russian Ruble, Mexican Peso, and the South African Rand are making massive movements Some experts are calling it an emerging market currency rout. The thing is, emerging market currencies shouldn’t necessarily correlate […]
OpenText Software: Better To Manage Random Info
Today I’m reviewing a large-cap software – application firm by the name of Open Text Corporation. Its trading ticker symbol is OTEX. Open Text Corp develops and sells enterprise information management (EIM) software. The company offers EIM software that allows clients to archive, aggregate, retrieve, and search unstructured information the better to manage it. In […]
Morning Call For Monday, August 13
Overnight Markets And News Sep E-mini S&Ps (ESU18 -0.28%) this morning are down -0.30% at a 1-week low and European stocks are down -0.70% at a 1-1/4 month low on concern of contagion of the Turkey economic crisis to European banks. Losses in European bank stocks led the overall market lower as the Turkish lira plunged […]
Downtrend To Continue?
The U.S. stock market indexes lost 0.7-0.8% on Friday, retracing some of their early August advance, as investors reacted to global stock markets’ rout. The S&P 500 index broke below its relatively narrow three-day-long trading range following bouncing off the resistance level of around 2,860-2,865. It currently trades 1.4% below the January’s 26th record high of 2,872.87. […]
Emerging Market Crisis Beckons As Currencies Shudder Amid Lira Drop
Since April, when the dollar finally shook off the stigma from America’s deteriorating fiscal outlook on the way to rallying behind hawkish Fed policy and a favorable shift in rate differentials, questions about the resiliency of emerging markets have popped up time and again. “Monetary stimulus by the Fed and other advanced economies played a […]
Japan’s GDP: In The Sweet-Spot
Japan’s GDP report was a nice, positive surprise. Real GDP accelerated 1.9% in the April–June quarter, which was about half a percent better than consensus expectations. After the contraction in the previous quarter, this suggests an underlying growth rate of around 1% so far this year. This is right around Japan’s growth potential—fast enough for corporate profits […]
Turkey Drives Risk-Off, But Pressure Abating
The failure of Turkey to grab the bull by the horns, so to speak, and come to grips with the situation saw the dollar soar above TRY7.23 (from TRY6.43 at the end of last week) and to ZAR15.55 (from ZAR14.09). The Mexican peso, the strongest currency this year, and which has been partially protected by […]
