Get started

NEWS

Week in a Glance: Stock Market Nightmares, InflationThe past week can be safely called waking nightmares for buyers of risky assets. On Friday alone, the cryptocurrency market lost over 10% (and, by the way, there is no queue of buyers, and after all, Bitcoin is already 50% cheaper than it was just 2-3 months ago), and the US stock market, represented by the Nasdaq index, showed the worst week since spring 2020 and overall it was the worst January for the index since 2008. Since the spring of 2020 is the beginning of a pandemic, the start of lockdowns and complete uncertainty, and 2008 is a global financial crisis that almost buried the entire global financial system under it, it becomes obvious how bad things are now. Especially when you consider that nothing actually happened. You can't call the reporting season a failure. Even Netflix, which was kicked by everyone at the end of the week (shares down more than 20% - the worst result since 2012) actually showed more than decent financial results, exceeding earnings forecasts and did not disappoint on revenues. However, nothing surprising happens to us. We have been writing systematically for a long time that huge price bubbles have swelled in the markets for risky assets. And bubbles are not about the rational, they are about the irrational. So in this light, selling out of the blue is a classic example of the irrational. At the same time, the fundamental basis for sales was created a long time ago and is just now being worked out. We are talking about a total overvaluation of assets against the backdrop of an unwinding inflationary spiral. The mixture is extremely explosive, since the tightening of monetary policies by the leading central banks creates the prerequisites for a mass exodus from risky assets. By the way, this week on Wednesday we are waiting for the announcement of the results of the meeting of the FRS Open Market Committee. It is possible that it was precisely for this event that the markets were desperately trying to discount last week. Should the US stock market be buried? Definitely not. Can it still go down? Definitely yes. Will he do it this week? Unknown. Very often, markets tend to overreact, resulting in a correction.
TVC:DXY
by Trade24Fx
1
$NXST: COVID / Tech Hangover?This one may be a bit risky but valuations are below the historical average and there's is some possibility that the divisions we've been seeing over COVID vaccines leads to a more local-focused population. People getting back to what's real and the issues that actually affect them in order to recalibrate to a sense of normalcy. If there is a tech hangover, I believe you'll find it priced in here first. XLC has been slippery though so we'll see how this plays out.
NASDAQ:NXSTLong
by Fox_Technicals
Insider Info from Peloton, Netflix and the Bank of TurkeyNot so long ago, we wrote about insider sales, which in 2021 significantly exceeded the figures of the previous year. There was some more information yesterday. Total insider selling hit a record $170 billion last year, up from $94 billion in 2020, according to SmartInsider. Indicative in this regard is the example of Peloton. According to SEC filings, Peloton executives and insiders sold almost $500 million worth of their shares, and did so before the company's capitalization fell by more than 80% in 2021. So the old adage “corporate leaders and insiders sell their stocks near the highs” has been confirmed once again. The main question that is now tormenting everyone is whether the stock markets will get off with a slight fright or whether the bubble will burst. In this light, there is a number of positive news for buyers from the Bank of Japan and the ECB, which have unequivocally spoken out in favor of maintaining ultra-soft monetary policies. But the rest of the support is not very good. Reporting season is not yet able to extinguish the fears of the markets. Yesterday, for example, Netflix lost 11% after publishing quarterly reports. Profits are better than forecasts, revenues are within forecasts. It would seem, for which the streaming giant was beaten. The answer, as usual, lies in the dynamics of the number of subscribers. And not even according to the results of the 4th quarter, but the company's expectations from the 1st quarter of 2022, which the markets did not like (2.5 million against last year's value of 3.98 million). In general, the reporting was not bad, but the markets were looking for a reason to sell and found it. So far, there is nothing to catch buyers with such moods. In general, the month of January is quite interesting in terms of the local price pattern: sales in the last hour of trading became more frequent. So you can keep this in mind when making trading decisions, especially intraday trading. Common sense seems to be returning to the Turkish Central Bank. Apparently, they have finally moved to the stage of accepting the fact of the existence of economic laws and the inexorability of their action, which even applies to Turkey. So the Bank of Turkey did not dare to lower the rate again, leaving it unchanged at around 14%. Not that this is a reason for buying the Turkish lira, but it is probably worth fixing part of the profits in its sales.
FOREXCOM:NAS100Short
by Trade24Fx
If Inflation's Everywhere, How the Fed Raises Rates in 2022?Quite a lot of inflationary data was published yesterday. Prices in the UK grew at the highest rate in the last 30 years (5.4% on CPI). Similar figures for Canada - consumer prices rose by 4.8%. As a result, US Treasury yields continue to rise as markets discount for the tightening of the Fed's monetary policy. In addition, Germany's 10-year bond yield rose above zero for the first time since May 2019. Against the backdrop of such data, analysts continue to compete, who is more, in the competition of how many times the Fed will raise the rate in 2022. Anna Wong, chief economist at Bloomberg Economics, is in the lead and expects five increases of 25 basis points for the year (March, June, July, September and December). At the same time, some traders are even talking about a 50 basis point increase in March. Given that oil prices are not yet thinking of falling (the International Energy Agency in its latest report released yesterday raised its consumption forecast by 200,000 barrels per day, plus a fire on the pipeline from Iraq to Turkey, which increased fears about the already tense short-term supply outlook) and corporate costs continue to rise, there are all grounds for further inflation growth. In general, it is not surprising that the US stock market is under pressure, and Nasdaq Vera officially moved into correction territory, losing 10%. An interesting indirect sign in favor of further price cuts. Back in late October, Robinhood was the 9th most popular free investment app on the Apple App Store, according to Sensortower. Now it has dropped to 19th. Coinbase was #1 at the end of October. Currently, it is at number 5. That is, interest is falling and there will be less and less fresh meat.
FOREXCOM:NAS100Short
by Trade24Fx
Oil Rally amid Sales of Risky AssetsPerhaps it is too early to say with certainty that the wind in the financial markets has changed and turned from the north to the south, but the feeling that something is happening does not leave. One of the signs of a change in market reality is the formation of a desynchronization in the price dynamics of assets. The stock market, and the crypt, continue to crumble against the backdrop of the oil rally. Which is somewhat unusual, since in 2021 they usually grew at the same time. Although from the outside it looks quite logical. The stock market and the crypto are frightened by the outflow of liquidity due to the tightening of the Fed's monetary policy (a steady increase in the yield of Treasury bonds is a clear confirmation of this). Considering that these markets are the most overvalued, profit-taking first of all on the bottom looks quite logical. And the reporting season in the US started not so confidently. JPMorgan and Citigroup disappointed, while Wells Fargo confidently beat earnings and earnings forecasts. In any case, it is too early to draw conclusions, but the very fact of the heterogeneity of the results is definitely not in the treasury of buyers. The reporting of Goldman Sachs became indicative (shares lost almost 7% yesterday). The bank clearly demonstrated what we wrote about earlier: the growth of salaries provokes an increase in the costs of companies, and it will not be possible to endlessly shift them to consumers. So, Goldman's operating expenses grew by 23%, which naturally hit profits. So it is likely that this is one of the first swallows, and there will be more to come. The main event for the US stock market yesterday was the information that Microsoft will buy video game giant Activision Blizzard for $68.7 billion. The year started most successfully for the oil market. This was facilitated by the unabated energy crisis, which was also facilitated by frost, as well as the expectation of a further rapid recovery of the global economy, which will stimulate growth in oil demand. In addition, the Middle East is again restless (referring to the attack by the Yemeni Houthi group associated with Iran on the capital of the UAE, Abu Dhabi). Despite such convincing dynamics, we continue to believe that this is the last attempt to grow before a powerful correction, which will be caused by the transition of the oil market from a state of deficit to a state of surplus. In terms of news, today's day is interesting primarily for inflation data from the UK, the Eurozone and Canada. Another confirmation that inflation does not think to subside may provoke a new round of sales of risky assets.
FOREXCOM:NAS100Short
by Trade24Fx
GBP - The money is there, if you play your cards right. One would be forgiven for being distracted by the rigmarole that is British Politics at the moment. Is the Prime Minister on his way out? I think the writing is on the wall on this one. Nevertheless, this will reward those who seek to capitalise on the captain of the ship’s scalp being acquired by his backbenchers he helped shepherd in to office. Looking to the nearer term, inflation is on the rise, rates need uplifting, there is a cost of living crisis — fireworks will dominate today. Looking towards the news, at the outset I expect the UK news to the upside and the US news to the downside. Asia has set the tone for the global session, and indeed those who have heard her beckon, shall undoubtedly be rewarded. Make no mistake. GBP’s attractiveness with the possibility of a rate rise due to inflation and all of its woes, coupled with a Prime Minister who will seek to stay in the driving seat for a while longer (May elex will be important) Plan B measures are set to be scrapped, and for now, the luster of the pound will endure. Buyer beware, however, in the longer term, with the ousting of the PM, issues will again come to the foray such as brexit, the cost of living crisis and an eye watering NHS backlog. Be smart, be careful, be profitable. *this is my first contribution. I hope it helps. I hope I’m right. Right or wrong, I will continue to post my ideas and analysis of fundamental issues which will dominate the first two quarters of ‘22. Conversation is welcome, discourse is key. Thank you.
Long
by EXFXTRDING
1
US Dollar with a view to GBPOne would be forgiven for being distracted by the rigmarole that is British Politics at the moment. Is the Prime Minister on his way out? I think the writing is on the wall on this one. Nevertheless, this will reward those who seek to capitalise on the captain of the ship’s scalp being acquired by his backbenchers he helped shepherd in to office. Looking to the nearer term, inflation is on the rise, rates need uplifting, there is a cost of living crisis — fireworks will dominate today. Looking towards the news, at the outset I expect the UK news to the upside and the US news to the downside. Asia has set the tone for the global session, and indeed those who have heard her beckon, shall undoubtedly be rewarded. Make no mistake. GBP’s attractiveness with the possibility of a rate rise due to inflation and all of its woes, coupled with a Prime Minister who will seek to stay in the driving seat for a while longer (May elex will be important) Plan B measures are set to be scrapped, and for now, the luster of the pound will endure. Buyer beware, however, in the longer term, with the ousting of the PM, issues will again come to the foray such as brexit, the cost of living crisis and an eye watering NHS backlog. Be smart, be careful, be profitable. *this is my first contribution. I hope it helps. I hope I’m right. Right or wrong, I will continue to post my ideas and analysis of fundamental issues which will dominate the first two quarters of ‘22. Conversation is welcome, discourse is key. Thank you.
TVC:DXYLong
by EXFXTRDING
1
Hedge Funds Confirm the Good Old TruthAccording to classical economic theory in the field of financial markets, it is not possible to “beat the markets” (to consistently show higher returns than the market as a whole): “You can’t beat the market.” At one time (2007), Warren Buffett tested the theory in practice, making a million-dollar bet that hedge funds over a period of 10 years would not be able to show returns higher than the S&P-500 index. In 2017, the bet ended with the victory of Warren Buffett. For nearly 10 years, the S&P 500 has returned 85.4% versus 22% for five hedge funds. And despite all this talk about a new financial reality, about fundamentally different conditions for the functioning of markets, in fact, everything is the same, everything is the same, as shown by the results of hedge funds in 2021. So, in 2021, a group of the top 20 hedge funds made a profit of $65.4 billion after paying fees. At the same time, the TCI Fund Management hedge fund alone earned $9.5 billion for clients in 2021, recording its 13th profitable year in a row, and showed a return of 23.3%. In general, according to LCH Investments, the 20 largest hedge funds have achieved a return on assets of 10.5%, which is almost 2 times better than the industry average. It would seem that success is what it is. But there is one big “but”: the S&P 500 is up 28.7% in 2021, including dividends. That is, starting from the first publications of Fame in the 60s of the 20th century, absolutely nothing has changed in this regard. And finally, a rhetorical question: if the best of the best, operating in billions for decades, how children rejoice at a yield of 10-20% per annum, why do people without education and experience believe that they can “squeeze” hundreds of percent per annum out of the markets?
TVC:DXYShort
by Trade24Fx
7
Week in a Glance: US Inflation and Powell, Omicron, ReportingThe past week turned out to be quite eventful for significant events for the US stock market. And most importantly, it is difficult to name any positive, at least for risky assets. Inflation in the US continued to break records. The consumer sector, with its 7%, was noted at the maximum levels since 1982, while the production sector remained at the historical highs of 10%. That is, by itself, she does not think to resolve. So it's not surprising that Powell, speaking in Congress, was quite aggressive in his rhetoric and said that the economy is ready for monetary tightening. In 2022, we should expect not only the complete curtailment of the quantitative easing program by March, but also 3-4 rate hikes, as well as a reduction in the Fed's balance sheet. That is, the Central Bank uncovers all guns. Markets eventually revised their expectations on the timing of the start of the increase in stakes. If at the start of the week the consensus was May 2022, then by the middle of the week, with a probability of 90%, the rate increase is expected in March. The pandemic continues to rampage and set new records. The number of Covid-19 patients in US hospitals has surpassed last winter's high, with the US reporting 1.5 million and China locking down 5 million people living in the city of Anyang. In general, China, with its zero tolerance policy, greatly exacerbates the already difficult situation in global logistics. Another negative of the past is the fact that retail sales in the US fell by 1.9% in December (much worse than the 0.1% decline expected by experts). One of the main reasons is rising inflation. In general, while everything is developing exactly as we warned earlier. The more interesting it will be to watch the seasonal reporting in the US, which last week moved into an active phase. By the way, it was on him that buyers relied. But the financial statements of banks, which traditionally open the reporting season, disappointed. That is, the reporting was generally not bad, but investors were disappointed. If in the case of Citigroup they can be understood (profit decreased by 26%), then in the situation with JPMorgan Chase (income and profit growth exceeded experts' forecasts), it is less clear. In general, we have what we warned about. Expectations are too high and any deviation from them will provoke sharp sales. So, given the results of last week, this week in the US stock market, we would be looking for opportunities to sell.
FOREXCOM:NAS100Short
by Trade24Fx
1
Annual Forecast for Ripple (2022) (Part 2)After peaking at $1.9637 in April, followed by the May - June market slump, XRP has battled in futility to return to its previous highs but cannot get past the $1.3250 barrier. Many analysts have opined that the weakness in the XRP comes as a result of the lingering lawsuit with the SEC. That said, we can rest assured that a conclusion of the case could reinstate the cryptocurrency’s previous bullish bias. This bullish projection becomes more interesting when we realize that the lawsuit has, so far, proceeded in the favor of Ripple and could close with the defendant winning the case. This outcome could push the eight-largest cryptocurrency to the $3 mark in 2022 and possibly higher. XRP currently trades along the long-prevailing ascending trendline as bullish sentiment returns to the broader crypto market, following a slow start to 2022. Meanwhile, my resistance levels are $0.8000, $0.8250, and $0.8500, and my support levels are $0.7500, $0.7300, and $0.7000. Total Market Capitalization: $2.04 trillion Ripple Market Capitalization: $36.7 billion Ripple Dominance: 1.81% Market Rank: #8
BITFINEX:XRPUSD
by Mr_Wogbe_Alex
2
March Rate Hike, Oil and China StrikesAfter the highest consumer inflation in the last 40 years, followed by a 10% increase in producer prices, the ranks of the Fed finally closed: it is necessary to tighten monetary policy as soon as possible. And if at the start of the week the markets were counting on an increase in May, then after a series of aggressive comments from the Fed officials after inflation, now with a probability of 90%, a rate increase is expected in March. In fact, March is just around the corner. So before the denouement, there was nothing left. A little longer until the resolution of the pandemic issue. China, with its zero tolerance for the pandemic, is starting to harm the global economy, slowing down global logistics, which cannot recover without it. Well, Biden, meanwhile, is going to use the army to ensure the functioning of hospitals. Formally, the current fundamental background is quite favorable for the US dollar, but it has been sold all week. The fall looks manageable so far, and we see it as more of an excuse to buy cheaper than to flip short. The best candidate for mid-term purchases of the dollar among the majors is the euro. Well, the Turkish lira remains an attractive target for sales against the US dollar. Where the negative fundamental factors have not yet been sufficiently taken into account, it is in the oil market. Everyone somehow forgot about the next increase in production from OPEC +, about the growth of production in the US, about interventions from the States in the form of sales of the strategic reserve (the US Department of Energy said on Thursday that it sold 18 million barrels of strategic reserves of crude oil to six companies) , about thousands of canceled flights around the world due to the outbreak of omicron, the closure of cities in China, etc. In general, selling oil at current prices is a great trading idea.
FOREXCOM:NAS100Short
by Trade24Fx
2
Controlled Inflation, Company Costs, and Omicron CollapseLooking at yesterday's data on consumer inflation in the United States, one involuntarily wonders what the Fed was counting on when they repeated the mantra about the temporality of inflation for six months and assured that it would resolve itself. It resolved to the highest growth rates since 1982 and an annual growth rate of 7%, which is unheard of for developed countries. Tellingly, everything points in favor of a further rise in prices: the energy crisis has received a second wind thanks to the winter and a cold snap, and the inability of automakers to meet demand due to a shortage of chips leads to an increase in prices for used cars. In light of such data, 2022 is simply bound to become the year of a comprehensive tightening of monetary policy, however, Powell officially confirmed all this on Tuesday, speaking in Congress. Recall that the Fed's target is 2%. Markets estimate the chances of a first rate hike as early as May at 79%. However, yesterday the markets once again decided to ignore reality and pretended not to notice either inflation or the consequences that it entails. But the consequences are not only a tightening of monetary policy, but also an increase in companies' costs. And endlessly transferring them to consumers will not work. Sooner or later, you will have to sacrifice margin and profit. Banks are already reporting tomorrow and the reporting season is entering an active phase. It will be very interesting to see how corporations deal with inflation this time around. If they decide to give up some of the profits so as not to lose customers, then the disappointment of buyers of shares can be transformed into a sale. The number of covid diseases in the world has jumped over 3 million (!) new cases per day. As a result, the FDA said extremely ominously in Congress that an unprecedented wave of omicronic infections across the country could provoke the inoperability of police, health care and transportation services. What can we say about non-emergency services - all kinds of production, services and other elements of the economic system. By the way, we wrote about this earlier - if everyone is sick at the same time, then there will simply be no one to work. And now everyone is getting sick en masse.
FOREXCOM:NAS100Short
by Trade24Fx
2
EURUSD LONG SETUP - US CPI NEWS - 1.15?Hello everyone! today's trade is on EURUSD, a pair with high volatility which is a favorable thing for traders. Why are we taking this trade? - Ascending triangle on EURUSD with a very strong uptrend and buying-volume. - Price above the 20-50-200 EMAs and the POC. - European Stocks Higher on Recovery Optimism. - Dollar edges off lows as U.S. inflation test looms. - As inflation continues, CPI news have a high probability to come negative for dxy. - Good RRR trade, 1:3 - Not going against price direction. Everyone will have a different entry based on his risk management! mine is Buy-limit at 1.134 hope it gets filled. Don't scalp! swing trade as high volatility might hit all your tight SLs. Good luck everyone.
Long
by dogofwallstreets
Aggressive Powell Against Omicron RecordsRisky assets were recovering yesterday, while the VIX Fear Index was declining. To say that there were some special reasons for this, perhaps, is impossible. On the contrary, the headlines of the leading news agencies set up rather gloomy thoughts. Let's start with the fact that Fed Chairman Jerome Powell said that the economy is in good enough shape for the Central Bank to start tightening monetary policy without fear. Recall that the Fed plans for 2022 are as follows: a reduction in the volume of the quantitative easing program (it should be brought to zero in March), followed by 3-4 rate hikes, and the reduction in the Fed's balance sheet will be the icing on this cake. It's strange that the markets go out of their way to ignore this elephant in the china shop. Apparently, they are waiting for the dishes to start beating. We continue to believe that it is possible to act ahead of the curve, the outcome is too obvious. Meanwhile, the number of Covid-19 patients in US hospitals has surpassed last winter's high, with the US reporting 1.5 million. Such is the "soft" omicron. In fact, what is expected due to a sharp increase in the incidence of diseases, even with a smaller proportion of hospitalizations, US hospitals are overloaded, which may well cause a local collapse of the healthcare system. China, meanwhile, placed under lockdown 5 million people living in the city of Anyang after two cases of omicron infection were reported there. In general, of any rational reasons for the growth of the US stock market this week, one can only note the start of the reporting season and extremely optimistic expectations of the markets, the implementation of which investors are trying to take into account by buying in advance.
FOREXCOM:NAS100Short
by Trade24Fx
2
Bad Omens: China, Crypto, IPO, Woods and InsidersBuyers in the US stock market were again uncomfortable yesterday. There were no new reasons on the horizon: all the same talk about tightening the Fed's monetary policy. Meanwhile, the number of bad omens is growing. The point is that although the US stock market as a whole seems to be in order, some of its elements (the most extreme) or other risky assets are already being sold out with might and main. In today's review, we just want to talk about these early signals. We have already written about some of them earlier, but we will repeat ourselves in order to form a more complete picture. The US tech sector in the form of the Nasdak index added almost 30% at the end of 2021. But at the same time, a similar Chinese index lost about 50% (!). Or here's another fact. Katie Woods, who tripled investor investment in 2020, managed to lose over 40% in 2021. Once again: with the market growing by 30%, Katie Woods, when buying, managed to show the result in minus 40%. Why is that? Because it works with the most extreme assets that have just started to crumble. These assets are extreme also due to the riskiness. By the way, about the most risky assets. Our entire cryptocurrency market Bitcoin has lost about 40% over the past couple of months. And somehow the predictions about 100K or 500K per cue ball are no longer heard. But all these are links of one chain. It's just that at first the most risky assets fell down, and the rest will follow. Well, and a few more words about risky assets. 2021 was a record year for an IPO. But in fact, the year was a year of a record number of disappointed expectations and investors. Of the 50+ U.S. tech companies that went public in 2021 through an IPO, SPAC, or direct listing, only one company is less than 20% below the peak price. More than 20 companies out of 50 have lost at least half of their value compared to their peaks. We have already cited an interesting fact: American billionaires sold $ 42.9 billion in shares by the beginning of December 2021, which is more than double the $ 20.2 billion sold in all of 2020. It would seem that everything is growing, the prospects are sky-high - we must take it. But people who perfectly understand the real value of the company and the state of the markets are selling, and in record volumes. In general, if we combine all these facts into a big picture, we get the classic flight of rats from the ship. Moreover, these are only the first rodents so far, the rest will follow them, because the ship is doomed and it is only a matter of time until it finds its reef and it does not matter if it is an increase in the FRS rates, a new wave of a pandemic, political destabilization or an energy crisis.
FOREXCOM:NAS100Short
by Trade24Fx
1
Week in a Glance: FOMC, OPEC+ Protocols & Risky Assets ProblemsThe past week turned out to be one of the worst for risky assets in recent years: crypts were falling, sales were going on in the US stock market. And it was not about the omicron, which, although it provoked new world records of the pandemic (the number of new daily cases of diseases approached the 3 million mark, and a couple of weeks ago only slightly exceeded 1 million), was nevertheless stubbornly ignored by the markets. The trigger was rather the publication of the minutes of the last meeting of the FOMC FRS. It followed from the text that the US Central Bank was going to uncover almost all of its anti-inflationary bazookas in 2022: tapering, rate hikes, as well as a reduction in the Fed's balance sheet. Moreover, judging by the latest data from the Eurozone, annual inflation does not even think that it will decline, but even stop growing, having reached a new historical maximum of 5% in December. Well, on Friday, an additional reason for sales in the US stock market was provided by data on the labor market NFP came out 2 times worse than expected and even worse than the previous value, showing an increase of less than 200K. Perhaps the only risky asset that showed growth was oil. But there is a separate story with Kazakhstan. At the same time, we note that OPEC + continues to increase production by 400K b / d every month and in February there will be another increase in oil supply. So we believe that selling not only the stock market and crypto, but oil as well. The coming week will be interesting primarily for inflation statistics from the US, as well as retail sales in the States. It is quite possible that the week will become a defining one for the cryptocurrency market. A mining recovery in Kazakhstan could bring optimism back to the market and push prices up. But if this does not happen, then the remaining buyers may disappear from the market, and we will see Bitcoin at 30K or lower in the foreseeable future. Well, the reporting season. Banks traditionally open it.
FOREXCOM:NAS100
by Trade24Fx
1
GME and the MediaGME tested strong high-volume support from March and earlier in 2021 and bounced up sharply off the ~$122 level rising to ~$174 in the AH yesterday. The AH spike occurred at a time when most retail was not in the market, likely to avoid FOMO and more specifically to effect the IV in a manner to curtail potential options trading by retail and other players in this equity. Smells of desperation. And the OBV for GME is amazing and continues to show that nobody is selling even during significant price drops. GME bulls will just not let go of their shares. Further, the Woodies CCI indicator had a fairly extreme reading this week and with the sharp bounce up off support, it appears that the near-term bottom may finally be in... In terms of the recent media coverage I heard it was "bad" for GME. I don't watch the media much if at all, but trading wisdom has always dictated that traders should 'SELL THE NEWS' - meaning smart traders will often buy/hold on bad news and sell on good news. Based on the OBV it looks like the smart money is adding and holding through this recent bad news...so am I. Not financial advice.
NYSE:GMELong
by Akksujean
2