When we talk about the euro, we usually don’t consider the United Kingdom as a dominant presence in the discussion. After all, despite being a member of the Eurozone group, London has opted to keep the Pound Sterling as her local currency. When it came to the latest ongoing Greek crisis, nary a word was heard from voices at the City of London financial center. Looks are deceiving however. London’s dominance of the $5.3 trillion-a-day foreign exchange market exists in force and surprisingly the financial center sees more activity in buying and selling euros than the whole 19 member Eurozone together and more dollars than the U.S. Brexit Po...
The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. In June 2015, Saudi Arabia pumped 10.564 million barrels a day, a record level. As if being the world’s biggest exporter of oil was not enough, the desert kingdom is now looking to conquer the refining sector as it has quickly become the fourth largest refiner in the world. “Saudis have moved into the product business in a big way,” said Fereidun Fesharaki of FGE Energy. With Saudi Arabia’s refined fuel contributing to the global supply glut, what will be its impact on the refining markets especially t...
Much has been written about how outsourcing has changed the way business works and how it has helped many companies succeed all over the world. We also often read articles about the factors that businesses must consider before deciding to acquire outsourcing services. Unfortunately, not all those who have outsourced are successful and oftentimes it’s because they failed to consider other equally important factors that play a significant role in outsourcing success. Some of these considerations are as follows: Taking the Time to Plan Some companies become way too excited about outsourcing that they fail to plan properly. Acquiring outsourci...
Markets shake due to Chinese selloff Chinese stock markets lost over a percent during the session on Monday, as the Chinese markets continue to show signs of weakness. With this, the market looks as if the destruction will continue. With this, a lot of stock markets around the world showed weakness. Looking for value in the S&P 500 We believe that there is a significant amount of support just below in the S&P 500 markets, as there is massive consolidation down to the 2050 handle. Ultimately, we have no interest in buying puts until we break well below there, and any time we see a bit of a bounce, we are buyers of calls within the yell...
Can you feel the panic in the air? CNN Money’s Fear & Greed Index measures the amount of fear in the financial world on a scale from 0 to 100. The closer it is to zero, the higher the level of fear. Last Monday, the index was sitting at a reading of 36. As I write this article, it has fallen to 7. The financial turmoil which began last week is threatening to turn into an avalanche. On Sunday night, we witnessed the second largest one day stock market collapse in China ever, and this pushed stocks all over the planet into the red. Meanwhile, the twin blades of an emerging market currency crisis and a commodity price crash are chewi...
As The Greek government presses The ECB for ‘permission’ to reopen its stock market, it may want to reconsider. GREK, the Greek Stock Index ETF trading in US markets, was down over 3% yesterday and has plunged to its lowest since the peak of the crisis in 2012 (near its lowest since 1989). Just as in China, The ECB (who is now very much in charge) seems to believe that if markets are not open for locals, then they have no ‘real’ idea just how bad things are.. and with National Bank of Greece stock trading at record lows (below $1), and the expectations of bail-ins looming, that is not what The ECB wants the people ...
The market this year has been split between areas of tremendous strength and sectors of depleted optimism. Nowhere is this better illustrated than the divergence between soaring growth stocks and underwhelming value names. When you add to that the mess of commodity prices and lackluster action in bonds, the picture becomes very murky indeed. Most diversified portfolios are likely sitting on very meager gains so far this year. Some may even be slipping in to the red as we head deep into the choppy summer months. Everyone is ready for a break one way or the other in the market, but the next big move appears quite difficult to discern. The tug...
When we left you at the end of last week the world was falling apart. As you know, the economy functions on electronic credit… not cold, hard cash. Without the banks pumping more credit into the system – by way of loans – it sags. The Dow fell 163 points – or about 1% – on Friday. More significant is the action in the gold market. At this morning’s price of $1,103 an ounce, gold is now trading $100 below what we thought was the “floor” under the price. Why? It could be that gold is signaling a global recession/depression. People tend to buy gold when they fear inflation. All they see today is a global deflationary slump. The...
Podcast: Play in new window | Play in new window (Duration: 13:16 — 6.1MB) DOW – 127 = 17,440 SPX – 12 = 2067 NAS – 48 = 5039 10 YR YLD – .04 = 2.23% OIL – .75 = 47.39 GOLD – 5.00 = 1095.50 SILV – .20 = 14.64 Chinese stocks fell sharply today. The Shanghai Composite fell 8.5% to record its largest one-day drop since June 2007, and the Shenzhen A-shares index lost 7% of its value. Weak manufacturing data revealed that profit at the country’s industrial firms dropped 0.3% in June from a year earlier, but the markets appear to be responding to government attempts to stabilize the country’s volatile stock markets; it seems...
The Chart of the Day belongs to Eros International (NYSE:EROS). I found the Indians language film stock by using Barchart to sort today’s All Time High List for the stocks having the highest Weighted Alpha, then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy in 5/15 the stock gained 100.28%. Eros International Plc co-produces, acquires and distributes Indian language film content across multiple formats globally, including theatrical, television and digital channels. It distributes Indian-made films, known as Bollywood movies, in the United Kingdom, United States, Australia, the United Arab...