What a roller coaster its been for equity indices globally the past two weeks. Bad data continued to trickle out from the US this month. September's ISM was the worst print in a decade (2008) signaling a possible recession in US manufacturing. However ADP employment and consumer sentiment prints are still holding strong. These are significant as consumerism is...
After news broke that Trump had secured another China trade meeting for early October and solid ADP numbers we broke the range we traded in for August. Non farm payrolls was a miss but not bad enough to fall back into range. Fed Chair Powell's comments shortly after the non farm payroll miss eased concerns and setup another potential rate cut in two weeks time....
It appears the underlying fundamentals have hit equilibrium. The supply/demand imbalance continues to get worse as more countries post econ data supporting slowing trade. My favorite number so far this week is from Korea. The 11th largest economy in the world reported a 10% decline in exports from the previous year. Here in the US we are expecting inventories to...
Prices have gone up since June on geo political tensions between Iran and US, OPEC curbing production, and Just this week worries about tropical storm barry (possibly hurricane barry) making landfall in Louisiana. To some it looks as if we hit the bottom and are going to make a new high for the year. Before you go long, let me offer some contrarian points to give...
Despite such promising (sorry I mean "beautiful") past rhetoric from Trump on the trade war, he finally admits to the public there is no end in sight. I suspect the trade war will be with us for the foreseeable future, a deal might never materialize. A hard and painful reconfiguration of US supply chains away from China will likely intensify. Despite clearing a...
Unless you've been trading under a rock, everyone should be familiar with what's going on over at Boeing. As you can see on the 4 hour chart we retraced a lot of the drop but failed to start a gap fill. This came as delivery reports were down significantly and a speedy fix is beginning to seem unlikely. Price has come back towards post fiasco support, usually I...
Facebook has seen a lot of mixed signals in play. Recent analyst upgrades due to Ad revenue have come at a time of extreme public resentment of FB. Every week more troubling news is adding to the PR fiascos for FB. today alone saw UK and New Zealand hint at fining FB and another story about criminals openly selling CC numbers, SS numbers, etc in public FB groups....
Earnings came out this week and for those who did their homework it was no surprise they where a huge miss. Insider selling in Feb. at the high, terrible EPS, clueless CEO, too much HYPE! Cannabis earnings will continue to roll out next week, further validating the over valuation of the cannabis sector. It took Tilray what felt like an eternity this week to...
Too much hype with no fundamental basis for price action. Tilray dampened the party this week with their dismal earnings but Cronos will send everybody to the exits come Tuesday. I'm actually surprised we got this move in the sector so soon. If you look at the Daily we have lower highs slowly turn to a retest of support. We broke two major trendlines the past...
We got the announcement Wednesday that many saw coming and then some. No rate hike was expected but the market did not anticipate no rates hikes for the remaining year. Bulls pounced on it Thursday as positive news for the market, but those who listened closely heard a different story. The slowdown of global growth could no longer be ignored and a deceleration...
Cronos has been nothing short of astounding in 2019. News that Marlboro was dumping money on them paired perfectly with the correction rally that has moved the market higher thus far. Prices fell across the sector in October/November after Canada legalized and earnings proved the hype did not live up to reality. Most cannabis companies had negative earnings...
On the daily chart we have seen a significant bounce. Waiting for price to pass the green line to make an entry. we should see some substantial resistance on the way back up between the two red lines. The first red line could be used as a profit target. I am hopeful we can continue the trend in between the white lines and reach .74 Considering where AUD is at now...
Today we received news of a landmark success in AIMT's clinical trial of "Palisade" a treatment for severe peanut allergies. markets.businessinsider.com
I am expecting a substantial surge in price in pre market and the first hour of trading tomorrow so either get your order in fast or wait for it to come back down a bit once the daytraders have scoured their...
