Archives of “April 2019” month

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China officials endorse Goldilocks monetary policy

  
Analysis, Economy

Chinese press, Xinhua, citing a report from the Central Financial and Economic Affairs Commission

  • “Monetary policy needs to be neither too tight, nor too loose and should be fine-tuned in a timely and pre-emptive way based on economic growth and changes in price situations’
Thanks so much for that.
  • The policy comments from the financial commission meeting largely echoed those from meetings of China’s Politburo, the State Council and the central bank in the past two weeks

ICYMI – Trump tightens the screws on Iran’s oil exports

  
Analysis, Crude, Economy

The US announced Monday that buyers of Iranian oil must stop doing so by May 1 or face sanctions.

Adam posted the breaking news yesterday:
  •  US will announce complete cutoff to Iran oil exports on Monday – report
Nice timing! With most traders on holidays Adam’s eagle eye allowed those still active in markets to get on board for a nice up move.
In brief:
  • US  will not renew exemptions granted in November last year to buyers of Iranian oil
  • This is a surprise move
  • Countries such as China and India had been granted waivers for six months, and expected those exemptions to be renewed. Nope.
The US announced Monday that buyers of Iranian oil must stop doing so by May 1 or face sanctions.

The broader US indice end the session higher. Dow falls.

  
Analysis, US Market

Nasdaq leads the way higher.

The broad indices are ending the session higher.  While the more narrow Dow ended lower.
The final numbers are showing:
  • The S&P is up 2.94 points or 0.10% at 2907.97
  • The Nasdaq is up 17.205 points or 0.22% at 8015.26
  • The Dow is down -48.49 points or -0.18% at 26511.05
The Dow was hurt by Boeing losing -1.33%. Other Dow losers included:
  • Nike, -2.07%
  • Dupont, -1.73%
  • Travelers, -1.67%
  • American Express, -1.16%
  • IBM, -1.05%
  • Pfizer, -1.04%
  • Walgreen Boots, -1.04%
Some winners today included:
  • Netflix, +4.71%
  • Qualcomm, +2.60%
  • UnitedHealth (rebounded after falling over the last week or so), +2.44%
  • Exxon, +2.19%
  • AMD, +1.81%
  • Chevron, +1.65%
  • Intuit, +1.48%
  • Amazon, +1.38%
  • Nvidia, +1.16%
  • Alphabet, +1.01%

About Failures and responsibility.

  
Analysis, Education

1. Beginner’s luck often stifles growth. Losses and failure are good for you.

2. When failure smiles at you, the best thing you can do is smile back, while acknowledging that the lessons that stick are those that hurt.

3. Learn to laugh at the little things and this whole trading thing will be a whole lot easier. Be amused by your mistakes and failures and be thankful for the lessons. Trading is not strictly business, it can be mixed with pleasure.

4. Mistakes are essential stepping stones. Don’t shy away from them. Instead, welcome them. Let them teach you. Keep trading and keep pushing. Virtually every tale of success in trading that you’ll read involves resilience in the midst of failure.

5. Trading is a process. Be patient with yourself. At first, you will make mistakes; you will fail. But you want to fail. You need to fail. Failure is good for you. It builds resilience of mind; develops wisdom; it is the foundation upon which mastery, success, and happiness rest upon.

6. In order to succeed, you first have to be willing to experience failure. Truly willing. No lip service. That’s the price to pay.

7. One of the biggest difference between a winning trader and a losing trader is gratitude. when you allow gratitude to flow in your life, failures and mistakes don’t have the same meaning.

A ‘powerful backbench figure’ will demand Theresa May resign tomorrow – report

  
Analysis, Politics

Report from the Mail on Sunday

Report from the Mail on Sunday
Harry Cole, deputy political editor at the Mail on Sunday, says a former Theresa May loyalist and ‘powerful backbench figure’ will be going public on Tuesday morning to demand that Theresa May resigns.
UK politics has been quiet for the past week because of Easter but the cannons will be firing again in the day ahead.
Cable is at session lows, down 15 pips to 1.2978, threatening Friday’s low of 1.2976.

Brent crude takes out a big level on Iran sanctions news

  
Analysis, Crude

Brent rises above 61.8% retracement of the Q4 plunge

Brent rises above 61.8% retracement of the Q4 plunge
I love it when a major level breaks on big news. It’s the ultimate confirmation and it’s even better when the level falls convincingly after consolidating below it.
That’s exactly what has taken place in Brent crude. It had been consolidating below the 61.8% retracement level for the past two weeks before it shot higher today on the US cutting off Iran exports.
The breakout could be a big one. US talk about Saudi Arabia producing more rings hollow. The Saudis want $80 oil to balance their budget and help the long-term transition away from crude. This is their opportunity to pump a bit more while keeping prices at high levels.
I expect fresh momentum to the upside now but the risks are for an even faster appreciation if Iran follows through on a threat to close the Strait of Hormuz.
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