TSLA Has A Terrible Weekend There are many acronyms to describe the large momentum tech names. One of those is TFAANG. That one includes AMZN and TSLA. While there weren’t any earnings reports during the holiday weekend, there were prominent tweets from Elon Musk and President Trump which affected stocks. Tesla’s CEO jokingly tweeted that…
The charts don’t look negative enough to motivate me to sell, but, then again, I am not feeling the urge to buy this dip. I suspect most people feel the same. Sector Strength Below is my spreadsheet of the major ETFs and their relative strength scores. I believe in owning the leaders, although that belief…
USD/JPY has been in a three-day sell-off driven lower by risk aversion flows, but today the pair has managed to stage a comeback and is closing well above the 106.00 level. The markets appear to have stabilized after yet another wave of Trump rants on twitter and traders will now likely focus on the…
While the S&P 500 futures market occupied a relatively narrow range overnight, now that the US is trading there have been some more big swings intraday. After trading up at the open, stocks lost almost 1% through mid-morning lows. They then rallied more than 1.1% and have since pulled back again. That kind of intraday…
The United States, Mexico, and Canada have made significant advances on reworking the North American Free Trade Agreement and ministers will meet in the coming days to determine the scope to agree on the basics of a deal, Mexico’s economy minister said. This is how MyFXspot.com trades today: EUR/USD Trading strategy: Buy Open: 1.2220 Target:…
Was the March 2009 low the end of a secular bear market and the beginning of a secular bull? At this point, nine years later, the S&P 500 has set a series of inflation-adjusted record highs based on monthly averages of daily closes. Let’s examine the past to broaden our understanding of the range of…
You may not be aware, but Nucor (NUE ) is the largest mini-mill steelmaker using electric arc furnaces to melt scrap steel to produce its products. So, when people are bringing their scrap metal to junkyards, Nucor is the type of company buying that metal in bulk from the yards to put it through the…
It’s a “King CAD” kind of day in the FX market, with the loonie rallying against all of her major rivals. The proximate catalyst is (wait for it) the latest scuttlebutt about the North American Free Trade Agreement (NAFTA). The currency has been whipsawing back and forth based on the latest NAFTA headlines for months,…
(Audio length 00:09:48) Doc joins me today to comment on the USD and 10-year yield. For the USD we assess if a breakout to the upside is more likely than a breakdown below the 88 level. For yields, Doc continues to think a move higher over the course of the year will happen.
Shares of Continental Resources, Inc. (NYSE: CLR) are receiving a lot of investor interest as of late due to the stock’s 19.1% increase over the last month. Shareholders are now asking themselves whether the company’s current stock price is reflective of its true value or if shares have even further upside from here. Let’s take a look…
