Author Archive: Jeremy Parkinson
Alphabet Inc, Jacobs Engineering Group Inc, Wells Fargo & Co: Insights From Sequoia Fund’s Q3 Letter
Sequoia Fund just released its Q3 letter, and the fund returned 3.71% net of fees for the three months, slightly trailing the S&P 500’s 4.48% return. For the entire year, Sequoia Fund generated a return of 13.73%, barely lagging the 14.24% return for the broader market. In terms of its comments, the fund talked about its Alphabet Inc (Nasdaq: GOOG) position […]
The Balance Of Payments In The USA
Here’s a great new piece of research from the NY State Comptroller discussing the USA’s balance of payments. A lot of people don’t know it, but the USA is like 50 little countries all using the same currency. So we have trade imbalances that occur between the states. Those trade imbalances can’t be resolved by foreign exchange […]
GBP/USD Daily Analysis – Wednesdsay, November 8
GBP/USD continued its sideways movement in a trading range between 1.3027 and 1.3337. Another rise towards 1.3337 resistance would likely be seen in the coming days. As long as this level holds, the sideways movement could be treated as consolidation of the downtrend from 1.3657, and further decline towards 1.2774 is possible after the consolidation. Support is […]
Sensex Trades Flat; Metal Sector Witnesses Selling
After opening the day in green, share markets in India witnessed choppy trades and are currently trading marginally below the dotted line. Sectoral indices are trading on a mixed note with stocks in the healthcare sector and stocks in the IT sector leading the gains. Stocks in the metals sector are trading in red. The BSE Sensex is trading down by 15 points (down 0.1%), […]
WTI/RBOB Drop After Surprise Gasoline Build
WTI held above $57 heading into the API print on the heels of Saudi chaos but both WTI/RBOB knee-jerked lower after API reported a lower than expected crude draw and a surprise gasoline build. API Crude -1.562mm (-2.45mm exp) Cushing +812k Gasoline +520k (-1.85mm exp) Distilates-3.133mm Following the previous week’s big gasoline draw and notable crude […]
Russell 2000 Doesn’t Take The Bait
Some light selling across Large Caps and Tech indices meant there was little of interest for today’s action. The only action of note came in the Russell 2000. After inching towards ‘bull flag’ resistance the Russell 2000 took a leaf out of the sellers book and reversed back towards ‘bull flag’ support. It’s looking vulnerable […]
Republican Tax Plan Does Not Worry KB Home
The angst may already be fading away. Last week, I chronicled the carnage across the stocks of home builders that erupted in response to the Republican plan for tax reform that includes a reduction in the cap on the mortgage interest deduction. The sell-off that likely had roots in the extreme displeasure emanating from the National Association […]
Here Lies The Bull Market-R.I.P.
Janet Yellen has led the Federal Reserve with a steady hand. Even with the goal of winding down the Fed’s balance sheet, her “status quo” on rates stems from her uncertainty about the economy in the coming year. The market tends to run six months ahead. Therefore, the recent heat or solid economic factors such […]
EUR/USD: Can It Move Up From Here? Two Opinions
EUR/USD dipped yesterday to the lowest levels since July, but never went too far. What’s next? Here are the views from BTMU and SocGen. Here is their view, courtesy of eFXnews: EUR/USD: Consolidation Into Year End Before Resumes Strength: Where To Target? – BTMU BTMU FX Strategy Research discusses EUR/USD outlook into year-end expecting that following […]
Gold Retreats As Dollar Firms
Gold prices dropped $6.52 an ounce on Tuesday but remained within the trading range of the past eleven days. XAU/USD tested the support at around the $1273 level and was able to stay above the 4-hourly Ichimoku cloud. The key levels remain unchanged, as the market continues to move between the $1283.50 and the $1263 […]
