Peter Brandt is the “Real McCoy” In the late ’70s, Peter Brandt emptied his trading accounts several times. He’d lose a string of trades, then refund his account, then “wipe out” all over again. But he persisted because he knew he was meant for a trading career. His determination paid off. In 1982, a currency…
Here is what I am reading: The work of John Maynard Keynes shows us that counter-cyclical fiscal policy and an easing of austerity may offer a way out of the Eurozone crisis (The London School of Economics) China’s Slowdown May Be Worse Than Official Data Suggest (Federal Reserve Bank of Dallas) Gold Bulls Strongest in…
Thursday: Stocks Ease So Does Volume Early Thursday morning – New York time – the US futures were heading higher from the decline of Wednesday. YM, the DJIA mini futures, was even threatening to form an inverse head-&-shoulder pattern. However, the US unemployment claims report punctured the optimism and the futures lost their steam. For…
Financial changes can happen with lightning speed History books call the period after the War of 1812 “The Era of Good Feelings.” America was a young nation that had a sense of purpose. National political strife was at a minimum; optimism was in the air. Major advances in technology and engineering brought the country turnpikes…
Wednesday’s Recap – Fed To Rescue? Wednesday was the FOMC meeting minutes release day and that kept the markets on tenterhooks for most of the day. The overnight action from Tuesday’s close was stifled by some disappointing news from Japan and Australia along with the apprehension about the FOMC meeting minutes. US futures were under…
Here is what I am reading: Weak Japan exports, hit by Europe, raise questions on recovery (Reuters) BHP mothballs $30b Olympic Dam expansion (The Sydney Morning Herald) Drawing the Wrong Inferences from Economic Data (A Dash Of Insight) Put Inflation Fears Aside (The New York Times) “Uncertainty” Is Nothing More Than Wall Street Whining (Capital…
Two thirds of August trading days are behind us but the month is not playing up to its reputation so far. Bucking the History: Stock Trader’s Almanac notes that over the past 61 years, August has been 10th best month for Dow Jones Industrial Average and NASDAQ or in other words, third worst. August is 9th best for…
Here is what I am reading: Meredith Whitney’s Muni Prediction Gets No Boost From Fed (Bloomberg) Stocks breakout on higher volume (MarketWatch) Who’s Lying: The Rally or the Sell Signals? (Minyanville) $DJIA Going For Seven Straight & A Short Video on Cycles (Stock Trader’s Almanac) Our Largest Ever S&P 500 Chart! (Don’t Ignore This Chart) The…
Yesterday’s Actions: Indecision – A Pause or a Turning Point? Monday morning saw S&P futures under pressure since the start of European session. After closing at a four month high, the futures generally drifted upwards overnight and reached a high at around 5:00 AM EDT (9:00 AM GMT) in the early European sessions. The news…
Weekly Pivots: Dow S&P500 NASDAQ DJTRA R2K FTSE DAX Previous 13,208 1,406 3,021 5,064 802 5,847 6,945 Open 13,205 1,406 3,018 5,062 801 5,847 6,936 High 13,281 1,419 3,077 5,195 820 5,876 7,041 Low 13,113 1,397 2,999 5,025 792 5,811 6,882 Close 13,275 1,418 3,077 5,194 820 5,852 7,041 Change % 0.5% 0.9% 1.8%…
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