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A rose under the winter snow

Trading Room – Mon 29 Oct 2018

Stocks fell sharply on Friday in U.S. as investors slogged through another volatile session on Wall Street.

The Dow Jones Industrial Average closed 296.24 points lower at 24,688.31 after dropping 539 points at its lows of the day. The Nasdaq Composite dropped 2.1% to 7,167.21. At its lows, the tech-heavy Nasdaq had fallen more than 3.0%. Continue reading A rose under the winter snow

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Market – Projecting high-probability bottoms in advance

Trading Room – Friday 26 Oct 2018

The global rout in stock markets worldwide and on Bursa is continuing and it’s likely too early to pick an absolute bottom.

Stocks rose back on Thursday in US as Wall Street recovered from a tumble in the previous session that sent two of the major indexes into the red for 2018.

Continue reading Market – Projecting high-probability bottoms in advance

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Hot Stocks – What to do with O&G stocks now?

Trading Room – Thursday 25 Oct 2018

Oil prices on Wednesday broke their key supports despite a looming U.S. sanction against Iran coming into effect soon.

Front-month Brent crude oil futures were traded around US$76.76 a barrel while US West Texas Intermediate (WTI) crude futures were at US$66.58 a barrel.

Brent closed down 4.3% and WTI dropped 4 .0% in the previous session. Continue reading Hot Stocks – What to do with O&G stocks now?

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Hot Markets: Global and US – It’s hard to say goodbye

Trading Room – Thursday 25 Oct 2018

Stocks plummeted on Wednesday as a sharp drop in tech shares and worries about corporate earnings added fuel to the month’s steep pullback for US stocks.

The Dow Jones Industrial Average dropped 608.01 points at 24,583.42 and erased all of its gains for 2018. The S&P 500 dropped 3.1% to 2,656.10 and also turned negative for the year. The Nasdaq Composite fell 4.4% to 7,108.40— entering correction territory — as Facebook, Amazon, Netflix and Alphabet all traded lower. Continue reading Hot Markets: Global and US – It’s hard to say goodbye