Author Archive: Jeremy Parkinson
The Effect Of Currency On International Returns
My wife and I took a cruise through Europe in the fall of 2013 along the Mediterranean. As we arrived at different ports and visited various cities along the sea, I was floored by how little my dollar went overseas. With a foreign exchange (FX) rate of about $1.40/€, enjoying a €5 gelato while walking […]
Triple-Energy Bear Shines
Crazy morning so far, but only because I’ve been dragged away from my computers to deal with other matters. Luckily, my ERY long (entered this morning) is doing well, and at long last the cup with handle pattern is complete. Go, oil, go!
Bitcoin Spikes To Record Highs
US dollar prices for virtual currencies are soaring. Both Bitcoin ($1343 highs) and Ethereum (as we described previously) are at new record highs as China regulators/exchanges appear to have ‘stabilized’, fears over the so-called ‘hard fork’ have abated, and hopes for an ETF have been revived by an SEC review. Back above the price of […]
Hope Is Back In The Air, But The Devil Is In The Details
Eight days ago, the stock market looked to be in trouble. The S&P 500 had closed at a “lower low” on the daily chart, the weekly chart was in a downtrend, and the bears were busy telling anyone that would listen it was their time to shine. Pundits were busy pointing out the downside potential […]
Good Prospects For Biotech Verona Pharma’s Thursday IPO
Deal Summary Verona Pharma (Nasdaq:VRNA), a company currently developing inhaled treatments for respiratory diseases, has announced its plans to IPO on the Nasdaq Stock Exchange. The company filed confidentially on November 23, 2016 and plans to list under the symbol VRNA. Verona expects net proceeds of $77.1M through the IPO (assuming underwriting exercise in full their […]
March 2017 Pending Home Sales Seasonally Adjusted Index Declines
The National Association of Realtors (NAR) seasonally adjusted pending home sales index declined. Our analysis says the opposite and the rolling averages marginally improved. The quote of the day from this NAR release: … sparse inventory levels caused a pullback in pending sales in March, but activity was still strong enough to be the third […]
US Data Does Not Bode Well For US GDP; Political Worries Weigh
While markets focused on the Draghi show, and for good reasons, the US released a big bulk of data. And the data has not been that good. Durable goods orders came out at 0.7% for March, much lower than 1.5% expected. It came alongside an upwards revision from 1.7%, which did not compensate. Core orders slipped by 0.2%, worse […]
Don’t Look Now, But Something Cracked On Tuesday
One of the questions we’ve been asking for some time now is this: “when will emerging markets finally start to crack?” Indeed it was just two days ago when we penned “It’s ‘Make-Or-Break Time’ And We Could See ‘A Painful Cleanout,’” a post which (probably thanks in large part to the ambiguous title) became one […]
Splunk, Palo Alto Seen As Potential Takeover Targets For Cisco
Shares of Cisco Systems (CSCO) are on the rise after Credit Suisse analyst Kulbinder Garcha double upgraded the stock to Outperform, arguing that the company’s transition toward a diversified IT player can be accelerated in an environment of tax reform. Further, the analyst sees Splunk (SPLK), ServiceNow (NOW) and Palo Alto Networks (PANW) as the […]
