Tuesday, December 8 Thursday, December 10 Krispy Kreme Doughnuts (KKD) Consumer Discretionary – Hotels, Restaurants & Leisure | Reports December 8, after the close. The Estimize consensus calls for EPS of $0.21, 4 cents above the Wall Street estimate. Even revenue estimates of $132.89 are higher than the Street’s expectation for $132.77. What to watch:…
Last week’s news that the ISM Manufacturing Index dipped below the neutral 50.0 mark in November for the first time in three years has inspired some folks to declare that the US economy is on the verge of slipping into a new recession. Perhaps, but letting one indicator drive your analysis of the business cycle is a…
The EUR/USD currency pair remains the most actively traded forex pair in the world. Combined, these two currencies account for over 75% of the weighted allocation of reserve currencies in the International Monetary Fund’s Special Drawing Rights. Currency traders like me have largely been bearish on the EUR and bullish on the USD for…
Total insanity! The S&P went down 2.5% and then up 2.5% in less than 48 hours, ostensibly driven down by Mario Draghi first failing to provide the QE measure he had been promising at the actual ECB meeting and then going back up on Friday because he promised more QE at the next meeting. The man is…
Economists expected China’s reserves to fall by around $33 bln in November. Instead, they fell by a little more than $87 bln. This is the third largest decline it has recorded, and a little below the $94 bln drop reported in August. China’s reserves peaked in June 2014 near $3.993 trillion. At the end of November, they were just above $3.438…
Hot stocks of the day: USO, SPY, AA Video length: 00:04:42
Negative Divergences Persist Following Friday’s payrolls report, the stock market rallied quite a bit, although it is not really clear why. It sold off a day earlier, allegedly out of “disappointment” over Mario Draghi not inflating enough (which is utterly absurd), and then rallied on Friday on growing certainty that Ms. Yellen would soon act to slow…
It’s always amusing when unforeseen circumstances conspire to bring two previously disparate stories together in one hilarious boondoggle. As regular readers are no doubt aware, Puerto Rico is broke. “Let us be clear: We have no cash left,” governor Alejandro Garcia Padilla told Congress last week, after the commonwealth used an absurd revenue clawback end-around to avoid…
EUR/USD Signal Update Last Thursday’s signals produced a very profitable long trade following the bullish outside candle’s bullish reversal from the anticipated support at 1.0550. If profits are still floating it is probably a good idea to move the stop up to under the support zone at around 1.0800 at least. Today’s EUR/USD Signals Risk 0.75%…
