As personal privacy is rapidly becoming a thing of the past, “Googling” oneself could certainly uncover some interesting and revealing facts, and not always good ones. According to multiple wire reports today including The New York Daily News, that was the case of former day trader Marcus Esparza Bofill who learned from a friend that he allegedly [...]
While coffee has dominated headlines for the softs this week with record level prices and massive swings (-8% yesterday), we have been focused on the cocoa market. Bearish fundamental factors, shifting macro trends and a compelling tactical setup have converged to provide us with a trade conviction. We went short the December NYBOT contract on [...]
Coffee futures closed lower in a very weak session yesterday. On a volatility-adjusted basis, this -4.3 standard deviation close was the 4th strongest selloff of the past decade, and sets up a potential short on the next bounce.
We wrote yesterday morning that the US Equity Market was vulnerable to a “fairly dramatic selloff” if the 1,060 area of support was breached. The market traded through that level in early trading, probed much lower in response to the Housing number at the 10:00 hour, but found ready buyers just below 1,050. After the [...]
Early strength in the US Equities market yesterday quickly gave way to selloff that brought the market to close on its lows. While still a fairly low-volume, small-range session, this day may represent a significant failure on the part of the bulls who had a chance to carry the market higher on a bounce off [...]
Yesterday Sugar traded above the key 20.00 resistance level and we are watching for follow-through above that resistance. If the market stumbles here, we will reduce the position and look to re-establish lower. We continue to be interested in selling Gold on the first weakness, but be clear, this is a tactical (price action-driven) trade, [...]
. “Business is business. Wall Street, Main Street; It’s all a bunch of people getting up in the morning, trying to figure out how they’re going to send their kids to college. It’s just people, and I know people.” Nicolas Cage as Jack Campbell – The Family Man (2000) . “What do you mean, you’re gonna pass? [...]
Taking a look back during what is traditionally one of the quietest weeks on Wall Street: August 23rd – Dow Jones index reaches an interim record high of 3,638.96 points in 1993. August 23rd – In 1961, East Germany imposed new curbs on travel between West and East Berlin, further intensifying the nation’s separation. 29 years [...]
By Ilian Yotov, AllThingsForex With the Fed, the Bank of Japan and the European Central Bank recently deciding not to withdraw stimulus to their economies, next week’s crucial data from the U.S., Japan and the Euro-zone should help investors to determine whether the economic recovery is faltering. In preparation for the new trading week, here [...]
The US Equities market spent much of the day testing resistance around 1,100 yesterday. At the end of the day, sellers won the battle and the market sold off to close on the lows. Classical, old-school technical analysis would tell us that this move now targets a re-test of the lows around 1,085, and if [...]
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