WTI/RBOB tumbled after China’s trade war retaliation, erasing gains on OPEC’s lowest output in a year, but rebounded after DOE reported a bigger-than-API-reported and surprising 4.6mm barrel crude draw – the most in 3 months. Prices jumped despite a new record high in US crude production. Crude -4.617mm (+2mm exp, -3.28mm API) – biggest draw in 3…
The tech sell-off was renewed this morning during the pre-market trading hours, as Facebook Inc. (Nasdaq: FB), Amazon.com, Inc. (Nasdaq: AMZN), Apple Inc. (Nasdaq: AAPL), Netflix, Inc. (Nasdaq: NFLX), Alphabet Inc (Nasdaq: GOOGL) and other favorites plunged in a reversal of the glimmer of light that touched the sector on Tuesday. Most analysts have been…
Crypto’s flagship, Bitcoin, has been slowly sinking this year, bring the rest of the market with it, and rather than go down with them, cryptocurrency hedge funds are jumping ship. Since the beginning of the year, 9 such hedge funds have ceased operations completely, Bloomberg reports. Many of these were created during last year’s market boom,…
Institutions matter. Economists of the classical period knew that well. In recent years, economists have increasingly included institutional variables in their empirical work. The economic freedom indexes from the Fraser Institute and the Heritage Foundation have been among the most widely used institutional indicators. The purpose of an economic freedom index, Heritage Foundation, is to “document the positive relationship between…
During March the price of gold in dollars has been bottoming a little after the London PM Fix. That would be around 11 AM EDT. My laptop has fallen down on the job. Consequently I am using my old trading platform while it is being revived, hopefully tomorrow. Therefore there *might* not be an update…
During March the price of gold in dollars has been bottoming a little after the London PM Fix. That would be around 11 AM EDT. My laptop has fallen down on the job. Consequently I am using my old trading platform while it is being revived, hopefully tomorrow. Therefore there *might* not be an update…
A recent study on the Freelance industry in the US estimates that nearly 36% of the US workforce, or 57.3 million Americans, are freelancing. The research estimates that these freelance workers contribute approximately $1.4 trillion annually to the economy, an increase of almost 30% since last year. By 2027, researchers believe, that freelancers will account for…
Today, the biggest news in the financial markets came from China, which announced a fresh $50 billion tariffs on the United States goods. The new tariffs targeted critical items such as motor vehicles, airplanes, and soybeans among others. This comes a day after the United States released the list of the items it will place…
Micron is the king of DRAM (dynamic random access memory), and when they reported earnings recently, they noted that pricing was firm and demand was strong. That stoked competitor Smart Global, a niche player with some decent earnings of its own. Even though technology stocks have been taking it on the chin this week, Smart Global has been…
My Swing Trading Approach With the large gap down this morning, the market is in dangerous territory, and risks breaking Monday’s lows and eventually the February intraday lows. As a result, I will stay put in my trading, until the market has provided me with a more definite trading edge to work with. Indicators VIX –…
