USDCAD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 1.2920 had completed at 1.2355 already. Further rally is still possible and next target would be at 1.2555. As long as this level holds, the rise from 1.2355 would possibly be consolidation of the downtrend from 1.2920, and another fall towards 1.2200 is still possible after the consolidation....
XRP/USD is now trading at only $1.75, extending the fall from the highs. The move higher was triggered by rumors of Coinbase inclusion and the move lower was sparked by a denial of such an inclusion. Nevertheless, there is another reason for the fall: taking profit on the huge rally. At the current pricing, Ripple is nearly half the value it enjoyed just last week when it got close to $3.40. On the way down, the cryptocurrency broke below the $2 level which was a critical level on the way up. From here, support awaits at $1.61, a swing low in late 2017. Ripple had already almost touched $2.50 and $1.61 is the point it fell too. Further sup...
On Tuesday, share markets in India opened in flat and ended on a positive note. The BSE Sensex closed higher by 90 points to end at 34,443, at all -time high levels. While the broader NSE Nifty ended the day higher by 13 points to close at 10,637. Among BSE sectoral indices, realty index rose the most by 2.9%, followed by consumer durables stocks at 0.8%. Coal India and Yes Bank were among the top gainers. Top Stocks in Action Today Coal India share price is likely to be in focus today after reports that the company has raised prices of thermal coal by an average 9%. Reportedly, the decision was taken at a board meeting held on Monday while r...
On Tuesday, share markets in India opened in flat and ended on a positive note. The BSE Sensex closed higher by 90 points to end at 34,443, at all -time high levels. While the broader NSE Nifty ended the day higher by 13 points to close at 10,637. Among BSE sectoral indices, realty index rose the most by 2.9%, followed by consumer durables stocks at 0.8%. Coal India and Yes Bank were among the top gainers. Top Stocks in Action Today Coal India share price is likely to be in focus today after reports that the company has raised prices of thermal coal by an average 9%. Reportedly, the decision was taken at a board meeting held on Monday while r...
What is Risk Management? Many investors have difficulty figuring out exactly what risk means to them. But this is an crucial topic to understand if you are to succeed in today’s markets. In the financial world, risk management is the process of identifying and handling uncertainties in one’s investment decisions. If you can manage your risks, then your investment’s should perform well over time. As the most famous investor Benjamin Graham once said, “the essence of investment management is the management of risks, not the management of returns.” How to Properly Analyze Investment Risk Whether it is investing, playing sports, or driv...
All bets are off regarding conventional forecasts of the economic and financial future because central bankers have gone bonkers ever since the 2008 financial crisis. Their insane balance sheet eruptions have thoroughly obliterated all of the traditional relationships between Economy and Finance. The two are now virtually disconnected, suspended in their own separate silos. Stated differently, busted financial market signaling mechanisms mean that all historically-rooted projections and inferences about the relationship between main street and Wall Street have become “inoperative” in the Nixonian sense. At month #103 of...
The Q4 earnings season is underway with a few major banks set to report this week. Earnings for the S&P 500 index are expected to grow 8.8% from the same period last year on 6.9% higher revenues. This is higher than the Q3 earnings growth of 6.7% on 5.9% revenue growth. Additionally, the revision trend has been favorable with earnings estimates holding up better relative to other comparable periods. The earnings estimates for Q4 have moved up 2 percentage points from 8.6% at the start of the period. Further, the dollar amount of total earnings is on track to reach a new all-time quarterly record. Of the 16 Zacks sectors, 13 are likely ...
First, a follow up on yesterday’s action in Weight Watchers (WTW) and Tesla (TSLA). Oprah fever continued today with WTW roaring another 10% higher, finally settling up just below 9%. Extraordinary. Tesla, after the story about the SpaceX satellite getting lost in space emerged, impressively held gains from Monday, but did not make a huge-or in this case-soft-splash. Therefore, if you are tracking or trading these stocks – Tesla is the better risk/reward. WTW is too far up too fast. Today’s Daily title comes from Barry White’s song “Can’t Get Enough of Your Love, Babe.” I find myself singing that song a lot lately. And why n...
Yesterday we closed our blog by saying that winter volatility was likely to return soon to natural gas, and that it sure did. We saw a wild day of price action today, with prices rallying overnight on a bullish run of the European ensembles before selling off on strip weakness through the day and spiking off some more bullish weather guidance into the settle. Through part of the trading day it appeared that cash prices were propping up the front of the strip, but by the settle that was clearly not the case. G/H ticked higher on the day too, though is still below recent highs. This rally did not come as all that much of a surprise. Overn...
Yields rallied today as bond prices headed lower. I took advantage of the opportunity by trimming stocks and buying bonds. I can’t remember the last time that I did that. I usually just keep sale proceeds in cash. Weakness in the miners today, or at least some of the miners. I’m not picking on FCX. I’m just using it as a proxy for the miners. I am trying to resist the urge to buy into this market because it is so extended. I don’t really have many technical tools to help me in this type of market. Instead, I am just operating on instinct which tells me that these stock prices are a gift to be received by taking partial...