Two weeks ago when the Nasdaq was trading at 15,400 – only a few percent off the 15,900 recent high of 19 July – I titled my blog Fasten your seatbelts, this is going to be a bumpy ride. Now with the index off by
Tag: bitcoin
There was a deluge of US data last week which traders took to be generally bullish for shares and positive for the economy. This the power of momentum at work. Actually, it doesn’t matter what the numbers were – if the consensus believes they justify
An interesting factoid – posted to VIP Traders Club members yesterday – at the end of Q1 2023 yesterday, the Dow was trading around 32,900. At the end of Q4 last year on December 31, it was trading at – wait for it – 32,900!
The much-anticipated FOMC statement on Wednesday’s small 25 bps hike was greeted with open arms by the bulls, who already had pushed the FANG Gang up last month by an astonishing 40%+. Of course, Big Tech had been clobbered most of last year by rising
Just about every pundit has now said it in their year-end copy: What an incredible year was 2022! Who could have predicted it? blah, blah, blah. So I won’t insult you with a repeat. Only to say that I believe you ain’t seen nothin’ yet
Last week the Fed followed market rates and hiked by 75 bps and indicated more to come to ‘fight inflation’ and stocks fell. Then the CPI data dump on Friday cancelled that idea with a soft headline figure and bond yields and the dollar fell
Look at that – can the Dow really be at 32,950??? The UK gilt and sterling market banker bigwigs seem to be happy that one of their own (by sheer coincidence an ex-Goldman banker) Sunak is now at the helm. But I am not so
I have been tracking the precious metals as they have been sliding down their Slippery Slope of Hope in recent weeks. And the usual suspects – the Gold Bugs – that normally see every reason to advise loading up on gold are nowhere to be
Shares fell hard last week in an orderly fashion (no panic) into Friday’s low with the Dow losing almost 2,000 pts. As I have been pointing out, the US indexes are in a very strong third waves lower that are nowhere near complete. But don’t
Stock indexes are now in full-blown retreat, as I intimated from last week’s blog caption ‘It drops slowly – then all at once’. Last week the Dow lost almost 2,000 pts. See what I mean? Markets usually fall a lot faster than they rise as is encapsulated in the aphorism You fall out of the window faster than you climb the stairs.
