Microsoft Plunges Most In 18 Months As Tech Wreck Escalates
Microsoft is down almost 4% – the biggest drop since June 2016 – filling the gap from earnings as the entire tech space is coming under serious pressure in this low-high tax rotation. No, there is no MSFT-specific news or catalyst… FANGs, Semis, and the broad tech sector are in trouble… As the low-to-high tax company […]
E The Oil Price Impact On Canada’s Currency Has Weakened Since The Central Bank Started Raising Interest Rates
“The Canadian dollar’s link with crude has been falling sharply since the end of June, spurred by the central bank raising interest rates for the first time since 2010. The currency’s 90-day correlation with WTI crude is now at the lowest level in almost three years.” (Bloomberg News, October 24, 2017.) World oil prices have […]
Fed Official Decries Bitcoin As “Not Backed”
Randal K. Quarles, a Trump administration appointee to the Federal Reserve Board of Governors and Vice Chair for bank supervision, has given a lengthy speech (“Thoughts on Prudent Innovation in the Payment System”) that directly targets Bitcoin as a danger to the monetary and financial system. To reiterate, an official speaking for the nation’s central bank that […]
What The Recent Market Volatility Means For Traders
Well, the first day of trading for December turned out to be anything but boring. The morning’s explosive political news sent the SPX down 400 points, and for 30 minutes, the markets saw nothing but sell orders. Over at the NYSE, the ticker kept pounding at -1000 readings minute after minute as the support for the […]
Dividend Income November 2017
Each month I will publish my dividend income. I will mainly do this for staying self motivated and to give you the readers the chance to follow my journey from the beginning on. The dividend income in the first couple of years will be on a very low level but investing in dividend stocks is […]
NZD/JPY Challenges Resistance Into December Open- Watch This Level
NZD/JPY Daily Chart Technical Outlook: NZD/JPY has been trading within the confines a well-defined descending pitchfork formation extending off the yearly highs with prices trading into the 77.38/66 resistance zone today before turning lower. Notice the similarities in the previous failure patterns into this upper parallel – heading into the open in December, we’re looking for an exhaustion […]
All Systems Are (Almost) Go Into Year-End, With Tax Reform The Final Missing Piece
Stocks are rocketing to new highs almost every day. Jeff Bezos of Amazon.com (AMZN) saw his net worth exceed $100 billion. Bonds are still strong (and interest rates low). Real estate pricing is robust. DaVinci painting sells for $450 million. Bitcoin – having no intrinsic value other than a frenzy of speculative demand – trades […]
Yield Curve “Conundrum”: Blame Japan For Flat Treasury Curve?
Citigroup blames Japanese banks for the flat yield curve. The BIS notes a conundrum. Neither explanation is correct. A Citigroup analyst says don’t worry about the flat yield curve. Instead, Blame Japanese Banks. “We believe that the latest leg of curve flattening has been, to a large extent, driven by front-end selling from Japanese banks and […]
Gold Looks Like A Bargain Just In Time For Christmas
One of the most compelling and engaging presenters at the Precious Metals Summit in London last month was Ronald-Peter Stöferle, a managing partner at Liechtenstein-based asset management company Incrementum. Incrementum, as you may know, is responsible for publishing the annually-updated, widely-read “In Gold We Trust” report, which I’ve cited a number of times before. During his presentation, […]
This Hasn’t Happened Since 2009…
Boy, oh boy: it certainly looks like the “rotation” trade is in full swing on Monday. Last week, as the odds of the GOP tax bill ultimately becoming law increased, more than a few analysts and commentators renewed calls for a rotation out of 2017’s best performers and into the sectors and names that have […]
