Archives of “English-language films” tag

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European shares end higher but the full story for the day is not so rosy

  
Analysis, Global Indices
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German Dax was up 9% at the high. Closes up 0.2%.

Well…the European shares are ending the day higher. However that is only half the story.  The other half of the story is that the major indices give up a big chunk of their gains from the highs.
The provisional numbers are showing:
  • German DAX, +0.2%. The high for the day was up 9%
  • France’s CAC, +1.4%. The high for the day was up 9.75%
  • UK FTSE 100, +1.7%. The high for the day was up 8.76%
  • Spain’s Ibex, +4.7%. The high price was up 11.73%
  • Italy’s FTSE MIB rose 6.3% but retrace from a 17.8% gain

For the week, the major indices got creamed.

  • German DAX, -20.01%
  • France’s CAC, -20.3%
  • UK’s FTSE 100, -17.6%. Worse since 2008.
  • Spain’s Ibex, -21%
  • Italy’s FTSE MIB -24%
How are the major European indices fairing for the year?
  • German DAX, -30.32%
  • France’s CAC, -31.42%
  • UK’s FTSE 100, -29.4%
  • Spain’s Ibex, -31.1%
  • Italy’s FTSE MIB, -32.7%

China official PMIs for January: Manufacturing 50.0 (expected 50.0) Services 54.1 (53.0)

  
Analysis, Economy
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The response to these will be – “Just wait until the next one, it’ll be much worse”.

Difficult to fault that response really. This will impact ahead, for example:
  • Coronavirus – A province in China has requested firms stay on holiday until February 10
Since posting that another province has followed suite, officials in Heilongjian want firms to stay on holiday until February 10 also.
Anyway:
  • Manufacturing comes in at 50 vs. expected 50.0, prior 50.2
  • Non-manufacturing comes in at 54.1 vs. expected 53.0, prior 53.5
  • Composite comes in at 53.0 vs. prior 53.4

China – US trade talks update – phase 1 signing coming on January 15 (maybe)

  
  Analysis
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OK, probably rather than maybe but hey, we’ve been hoodwinked on this trade deal business over and over again.

The latest is (good idea to update this after the long break):
  • A Chinese trade delegation is heading to Washington for a January 15 signing
  • plan is to sign the first phase of the trade deal with the US
  • Vice Premier Liu He will lead the delegation
  • Will arrive in Washington on the 13th (thankfully that’s not a Friday, eh?)
So, for the rest of 2020 we can look forward to tension over the next phase (more soybeans?)

Oil – more on the Aramco repairs story (could take months, not weeks)

  
Analysis, Crude
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You know how it is, your car is making a funny noise so you take it to the mechanic.

“Yeah, leave it with me, shouldn’t take long”
 
The  you get the phone call, right?
“Yeah …. this looks nasty ….”.
Same with this:
  • Oil – Aramco says repairs to Saudi plant could take many months rather than weeks
WSJ has more on it now:
  • It may take many months-rather than the maximum 10 weeks company executives have promised-to restore operations to full working order,
Journal is gated, here is the link if you can access it.

5 Great Quotes From Jesse Livermore

  
Analysis, Education
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1. The only leading indicator that matters

Watch the market leaders, the stocks that have led the charge upward in a bull market. That is where the action is and where the money is to be made. As the leaders go, so goes the entire market. If you cannot make money in the leaders, you are not going to make money in the stock market. Watching the leaders keeps your universe of stocks limited, focused, and more easily controlled.

2. Patterns repeat because human nature hasn’t changed for thousand of years

There is nothing new on Wall Street or in stock speculation. What has happened in the past will happen again, and again, and again. This is because human nature does not change, and it is human emotion, solidly build into human nature, that always gets in the way of human intelligence. Of this I am sure.
All through time, people have basically acted the same way in the market as a result of greed, fear, ignorance, and hope. This is why the numerical formations and patterns recur on a constant basis.
I absolutely believe that price movement patterns are being repeated. They are recurring patterns that appear over and over, with slight variations. This is because markets are driven by humans — and human nature never changes.

3. Your first loss is your best loss. (more…)

3 Important contributors to lack of trading confidence

  
Analysis, Education
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1)  Not putting in the work – When we try to borrow ideas from others, we never really deeply understand those ideas.  The process of independently generating an idea ensures that the idea makes sense to us.  That gives us staying power during temporary periods of adverse price action;
2)  Negative self-talk – When we focus on everything we could have done better and everything we did wrong, we create mini failure experiences for ourselves over time.  Our self-talk reflects our relationship with ourselves.  How can we feel confident in who we are and in what we do if we’re constantly tearing ourselves down?
3)  Not playing to our strengths –  Many traders attempt trading styles that don’t match their personality and cognitive strengths.  Over time that generates frustration and erodes confidence.  Trading frequently when we function best as big picture idea generators inevitably exposes us to noise and randomness.

Favorite Wall Street Movies

  
Analysis, Education
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Wall Street Movies: After a long day at the desk, what’s more relaxing than kicking back and watching a movie about investing or trading? Here are 4 flicks for your favorite keyboard jockey:

– Eddie Murphy Trading Places ($9) Only tangentially related to trading, but filled with lots of oft quoted lines, this comedy is good for everyone.

– Wall Street ($10) Blue Horseshoe loves Anacott Steel. Dated, but watchable. Skip the 2010 version — its awful.

– Boiler Room ($6) Know a retail stock jockey? This gritty flick will show him what the bad old days were like in the land of penny stocks. A cautionary tale with a great cast.

– Wolf of Wall Street ($14) Director Martin Scorsese uses Leonardo DiCaprio, Jonah Hill, Margot Robbie and Matthew McConaughey to great effect in this tale, based on real life story, of a talented salesman seduced by fast money and penny stocks.

– Margin Call ($7) This 2011 film set during the financial crisis has already been called the greatest Wall Street movie ever made.

– The Big Short The Great FInancial Crisis gets the Michael Lewis treatment . . .

Appraising Your Trading Relationship To Pride

  
  Education
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1.Does your self -esteem rise and fall with your latest trading ?

2.Have you ever taken a trade just to prove your ability as a trader ?

3.Do you brag about your winning trades to others ?

4.Do you try to hide your losing trades from others ?

5.Do you ever make up false stories about your trading to impress others ?

6.Do you worry about what other people think of you as a trader ?

7.Make an honest self-assessment of your trading.

8.Compliment yourself and give yourself credit when you do something right.

9.When you make a mistake or do something that doesn’t serve  your trading ,plan how you will correct this tomorrow or in the future.Say to Yourself ,”That’s not like me.I can do better.”

10.Notice your improvement and commit to doing better each day ,week ,month and Year.

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