Well, at least Friday was positive. After a rough week and an 8-day losing streak in the DOW, stocks finished higher on Friday. And it was oil saving the day. Here’s what traders focused on last week: Trade War Concerns – A week ago Friday, President Trump announced a 25% tariff on $50 billion worth of Chinese … Read more
Today stocks were slammed and the DOW finished lower for the 8th day in a row. We had a pretty quiet open and stocks were trading right around yesterday’s close. But once trading got underway, stocks dropped and the major indices continued to slide during the first hour of the day. The rest of the day was … Read more
Day traders can do the darndest things. This week has provided the tale of a huge demo-trading platform mixup, and it’s on a par with the story of the guy who launched a GoFundMe drive after a short bet went horribly wrong. Harouna Traoré was making trades with Valbury Capital last summer — on a … Read more
‘A Bottoming Process Can Begin’ While everyone and their grandmother know about Bitcoin’s dramatic decrease in value following exorbitant prices in December 2017, many investors and traders in the first and foremost cryptocurrency are less aware of its decreased volatility. As noted by Bill Baruch, President of Blue Line Futures, the cryptocurrency market leader’s rolling … Read more
Stocks were mixed today, with the DOW and NASDAQ moving in opposite directions again. The DOW sold off this morning and finished lower for the 7th day in a row. But the NASDAQ rallied, ending the day at record highs. The major indices are usually highly correlated. But with today’s close, the DOW is negative for the year while the NASDAQ is trading at new records. … Read more
As earnings season gets underway, investors appear to be taking a more cautious stance towards Micron Technology Inc. (MU) than they have in past earnings announcement lead-ups. Trading in options markets are predicting the typical volatility, but this time around the usual bullishness is lacking. Despite this more unusually neutral stance, JPMorgan believes the microchip manufacturer … Read more
South Korean cryptocurrency exchange Bithumb has suspended deposits and withdrawals after losing $30 million worth of cryptocurrencies as the result of an apparent hack. The Seoul-based company, once the world’s largest cryptocurrency exchange, on Wednesday announced that $30 million worth of undisclosed cryptocurrencies had been stolen from the platform. It is not clear at what … Read more
Recreational marijuana use will soon be legal in Canada after the Senate passed a “historic” bill on Tuesday with a vote of 52-29. Canada is only the second country in the world — and the first G7 nation — to implement legislation to permit a nationwide marijuana market. In the neighboring US, nine states and … Read more
This morning, stocks tumbled after President Donald Trump threatened an all-out trade war with China. The DOW fell more than 400 points, and the S&P lost 1.1% after heavy overnight selling. China’s Shanghai Composite lost 3.8%, dropping to the lowest level in two years. So what happened? Yesterday President Trump announced that the administration will consider tariffs on another $200 billion in Chinese … Read more
On Friday, the big news was President Trump and China going back and forth on tariffs. Although we didn’t really have any changes over the weekend, trade war concerns were on everyone’s mind heading into the new week. And things looked pretty ugly at the open. The major indices were all lower this morning and continued their slide … Read more