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2015-09-03 16:04:25

Posted by
IB Securities Lending Desk
Contributor
Securities Lending

What is it with GoPro?

Lending rates on GoPro (Ticker: GPRO) have ticked up, coinciding with sustained pressure and heavy volume in its stock during the last few days at a time when global equity prices have rebounded. Shares pierced midweek lows today, dipping to close at $38.64, with the March 52-week low of $37.13 easily in sight. Momentum in the stock is also waning, with the 50-day moving average having turned south and heading slowly for the 200-day average. Industry comments from Ambarella also appear to be weighing on the stock, perhaps adding some conviction to those earlier-in-the-week heavy pockets of volume, which are likely to maintain pressure on borrowing costs as those trades settle over the rest of the week. With significant uptick in borrowing demand amongst Prime Brokers today, borrow rates are moving away from GC (0%) levels and trending toward -1% with outliers near -5%.

Chart – Can’t catch a bounce

The analysis in this article is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

2015-09-03 14:55:07

Posted by
Russ Koesterich, CFA
BlackRock
Contributor
Macro

Remember This Isn't 2008

After a seesaw week for stocks, Russ Koesterich explains why it's important to maintain perspective.

 

Investors may be feeling unnerved from the recent roller coaster ride in the markets.

Though stocks managed to close last week with modest gains after improving economic data and soothing comments from central bankers, U.S. equities experienced their most volatile week in years on continued concerns over China, global growth and deflation. The VIX Index, which measures U.S. equity market volatility, spiked to more than 50, the highest reading since the 2008 financial crisis.

However, as I write in my latest weekly commentary, “Keeping Firm Perspective as Markets Gyrate,” it’s important to maintain perspective. Recent U.S. economic data—including a solid July durable goods report and a sharp upward revision to second quarter gross domestic product (GDP)—paint a comforting picture, confirming a longer-term trend: The U.S. economy is still in relatively decent shape.

A quick refresher: While stocks peaked in the fall of 2007, markets didn’t really start their meltdown until the following spring. By then, according to Bloomberg data, there were already several indicators flashing red, not only for the market but for the broader economy. For example, by May of 2008, leading economic indicators had been consistently falling for nearly two years, new orders data had been contracting for six months and unemployment had been rising for 18 months.

In contrast, the U.S. economy is now holding up relatively well, despite the challenges in China and some other emerging markets. True, nobody would confuse the current economy with the glory years of the late 1990s. But leading indicators are up more than 4 percent year-over-year, new orders are comfortably in expansion territory and job creation remains robust, as Bloomberg data show.

Although it’s still entirely possible to have a bear market despite a decent economy, I don’t believe the current correction marks the end of the bull market, especially considering solid growth and a lower likelihood for a September Federal Reserve (Fed) hike in interest rates.

Indeed, to the extent the U.S. avoids slipping into a China-induced recession, market fundamentals remain sound. In fact, indiscriminate selling has opened up pockets of value, including in European equities, high yield bonds and mega-cap stocks.

 
Russ Koesterich, CFA, is the Chief Investment Strategist for BlackRock. He is a regular contributor to The Blog.

 

This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of the date indicated and may change as subsequent conditions vary. The information and opinions contained in this post are derived from proprietary and nonproprietary sources deemed by BlackRock to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by BlackRock, its officers, employees or agents. This post may contain “forward-looking” information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this post is at the sole discretion of the reader.

©2015 BlackRock, Inc. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc., or its subsidiaries. All other marks are the property of their respective owners.

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This article is from BlackRock and is being posted with BlackRock’s permission. The views expressed in this article are solely those of the author and/or BlackRock and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
 

2015-09-03 13:40:25

Posted by
Andrew Wilkinson
Chief Market Analyst
Interactive Brokers
Contributor
Options

China Stock Rebound Seen in Options Play

Six weeks ago options trading at the $42.00 strike price in the iShares China Large Cap fund (Ticker: FXI) would have been considered at-the-money. That was before the ensuing meltdown drove shares in the China fund down to $32.80. Recent signs of stability in global equity markets have since boosted the price of the FXI ETF to $35.23. In options land on Thursday, one investor paid 13-cents for buying rights over 2.5mm shares back at the 42.0 strike, which would currently require a rebound of 18.9% to come good in time for when the options expire in October. The relatively low premium is up by 30% on a dime-closing price the prior day where a total of 50,000 contracts have traded. The number of open positions ahead of Thursday’s trading was less than 20,000 contracts.

Chart – FXI on the rebound?

The analysis in this article is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

2015-09-03 13:13:57

Posted by
Neil Azous
Founder & Managing Member
Rareview Macro LLC
Contributor
Macro

"QECB"

The European Central Bank press conference led by President Mario Draghi has passed.

As we highlighted in yesterday’s post (Professionals Holding Out Hope that ECB Tomorrow is Catalyst for Stability...Today is a Pause Day) there was very little discounted for the “surprise factor”. Not only are investors receiving the verbal communication that they are accustomed to but the ECB eased policy.

Some want to view the easing as only incremental in scope and not significant. In our opinion, the fact is that the actions were tangible and that is what matters most given the ECB’s history of using words instead of actions prior to the announcement of QE.

At the same, President Draghi “explicitly” said that the ECB is having no trouble buying bonds as part of the program. The fact that the ECB increased the amount of each bond issue it can purchase to 33% from 25% therefore suggests changing the limit was NOT related to something technical, but due to the forward looking view that inflation expectations will drop further. Put another way, this is a pre-cursor to either extending the time frame or increasing the size of QE.

Ironically, despite President Draghi being born on this day in 1947, he gave you a birthday present instead.

 

Sight Beyond Sight® is a global macro trading newsletter written daily by Neil Azous. With close to two decades of institutional experience across asset classes, Neil interprets the day-to-day economic, policy and strategy developments and provides actionable trading ideas for investors. We invite clients of Interactive Brokers to sign up for a free trial in Account Management. If you are not a client of IB, you can sign up for a free trial by visiting our website.


This article is from Rareview Macro and is being posted with Rareview Macro’s permission. The views expressed in this article are solely those of the author and/or Rareview Macro and IB is not endorsing or recommending any investment or trading discussed in the article. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

2015-09-03 12:24:46

Posted by
Andrew Wilkinson
Chief Market Analyst
Interactive Brokers
Contributor
Options

Cobalt Energy January 2017 puts in play

Shares in Cobalt Energy (Ticker: CIE) are up sharply at $8.24 (+6.6%) and appear to have attracted the attention of at least one option trader with a bullish eye. Far-dated January 2017 put options appear to have been sold around 15,800 times in Thursday’s action for a premium of around 75-cents. While most of these typically bearish put contracts were traded at a mid-market price, at least some were sold. The strategy looks for the share price to remain well above the 5.0 strike price involved in the transaction – evidence bolstered by the strong rally in the share price. One year ago, shares in the exploration and production company traded at around $15.00 and have naturally been dragged earthwards by the bearish commodity complex and more recent dramatic slide in crude oil prices. This year’s low point reached $6.99 just last month, but you need to look all the way back to October 2011 to see the major low of $6.30. Is the put option seller safe just because the market is rebounding strongly? Well, that remains to be seen, but for now the prospect of having stock put to you at a significant discount thanks to worries over the global economy is apparently worth the 75-cent premium.  In the space of the past week, implied volatility in the January 2017 expiry has come down from 63-58%. The existing number of positions opened by investors at the 5.0 strike price before Thursday’s activity stood at 20,000 contracts.

Chart – Implied volatility in Cobalt’s January expiration waning as the share price catches a bid

The analysis in this article is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
 

2015-09-03 11:36:02

Posted by
Max Lee
New Constructs, LLC
Contributor
Stocks

The Best and Worst of the Small Cap Blend Style

Style Analysis 3Q15

The Small Cap Blend style ranks last out of the 12 fund styles as detailed in our 3Q15 Style Ratings for ETFs and Mutual Funds report. It gets our Dangerous rating, which is based on an aggregation of ratings of 30 ETFs and 659 mutual funds in the Small Cap Blend style as of July 20, 2015. See a recap of our 2Q15 Style Ratings here.

Figures 1 and 2 show the five best and worst-rated ETFs and mutual funds in the style. Not all Small Cap Blend style ETFs and mutual funds are created the same. The number of holdings varies widely (from 24 to 2526). This variation creates drastically different investment implications and, therefore, ratings.

Investors seeking exposure to the Small Cap Blend style should buy one of the Attractive-or-better rated ETFs or mutual funds from Figures 1 and 2.

Figure 1: ETFs with the Best & Worst Ratings – Top 5

* Best ETFs exclude ETFs with TNAs less than $100 million for inadequate liquidity.

Sources: New Constructs, LLC and company filings

Eight ETFs are excluded from Figure 1 because their total net assets (TNA) are below $100 million and do not meet our liquidity minimums. See our screener for more details.

Figure 2: Mutual Funds with the Best & Worst Ratings – Top 5

* Best mutual funds exclude funds with TNAs less than $100 million for inadequate liquidity.

Sources: New Constructs, LLC and company filings

Four mutual funds are excluded from Figure 2 because their total net assets (TNA) are below $100 million and do not meet our liquidity minimums. See our screener for more details.

Schwab Fundamental U.S. Small Company Index ETF (FNDA) is the top-rated Small Cap Blend ETF and Virtus Quality Small-Cap Fund (PXQSX) is the top-rated Small Cap Blend mutual fund. FNDA earns a Dangerous rating and PXQSX earns an Attractive rating.

Global X Guru Small Cap Index ETF (GURX) is the worst-rated Small Cap Blend ETF and Investment Managers Chartwell Small Cap Value FUND (CWSVX) is the worst-rated Small Cap Blend mutual fund. Both earn a Very Dangerous rating.

Escalade (ESCA: $18/share) is one of our favorite stocks held by Small Cap Blend funds and earns our Very Attractive rating. Since bottoming out in 2008, Escalade’s after-tax profit (NOPAT) has grown by an impressive 55% compounded annually. NOPAT margin has increased tenfold to 10% over the same timeframe. Return on invested capital (ROIC) has also improved to 10% from 1% in 2009. Despite the strong turnaround since the economic recession, ESCA remains undervalued. At the current price of $18/share, ESCA has a price to economic book value (PEBV) ratio of 0.9. This ratio implies that the market expects the company’s profits to permanently decline by 10%. If Escalade can grow NOPAT by just 6% compounded annually for the next five years, the stock is worth $22/share – a 22% upside.

Alon USA Energy (ALJ: $19/share) is one of our least favorite stocks held by Small Cap Blend funds and earns our Very Dangerous rating. Since 2011, NOPAT has declined by 28% compounded annually. Alon currently earns a 5% ROIC, which is less than a quarter of the 22% earned in 2005. Investors have overlooked the deterioration of Alon’s fundamentals, and the stock is overvalued. To justify the current price of $19/share, Alon must grow NOPAT by 12% compounded annually for the 15 years. For a company that has struggled with earning consistent profits for years, this expectation appears to be overly optimistic.

Figures 3 and 4 show the rating landscape of all Small Cap Blend ETFs and mutual funds.

Figure 3: Separating the Best ETFs From the Worst Funds

Sources: New Constructs, LLC and company filings

Figure 4: Separating the Best Mutual Funds From the Worst Funds

Sources: New Constructs, LLC and company filings

Disclosure: David Trainer and Max Lee receive no compensation to write about any specific stock, style, style or theme.

 

About New Constructs

QUESTION: Why shouldn’t ETF research be as good as stock research? Why should ETF investors rely on backward-looking price trends?
ANSWER: They should not.

Don’t judge an ETF by its cover. Take a look inside at its holdings and understand the quality of earnings and valuation of the stocks it holds. We enable you to choose the best ETF based on its stock-picking merits so you do not have to rely solely on backward-looking technical metrics. 

The figure below details the drivers of our forward-looking Rating system for ETFs. The drivers of our predictive rating system are Portfolio Management and Total Annual Costs. The Portfolio Management Rating (details here) is the same as our Stock Rating (details here). The Total Annual Costs Rating (details here) captures the all-in cost of being in an ETF fund over a 3-year holding period, the average period for all fund investors.

Cutting-edge technology enables us to scale our forensics accounting expertise so that we can cover enough stocks to cover the ETFs that hold them as well. Learn more about New Constructs. Get a free trial. See what Barron’s has to say about our research. Cutting-edge technology enables us to scale our forensics accounting expertise so that we can cover enough stocks to cover the ETFs that hold them as well. Learn more about New Constructs. Get a free trial. See what Barron’s has to say about our research.

This article is from New Constructs, LLC and is being posted with New Constructs, LLC’s permission. The views expressed in this article are solely those of the author and/or New Constructs, LLC and IB is not endorsing or recommending any investment or trading discussed in the article. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 

2015-09-03 10:40:00

Posted by
Singapore Exchange

Contributor
Futures

Restocking supports iron ore; steel continues to underperform

The benchmark iron ore spot price averaged $55.28 per tonne in August (up 7.2% m/m). Prices saw support during the month as Chinese steel mills restocked amidst increased output and lean inventory levels, while port stocks have also been on a downtrend in recent months. Although relatively low stock levels may continue to lend some support, rising seaborne supply and the apparent re-ignition of deflationary cost pressures could weigh on prices over the coming months. The average 58% Fe fines price marginally outperformed the benchmark 62% Fe fines price in August by 0.2%.

ASEAN HRC steel underperformed iron ore yet again in August, its fifth consecutive month of underperformance, down 1.9% (versus a 4.9% increase through the month for iron ore). Coking coal prices saw continued declines in August (FOB and CFR premium low-vol spot prices declined 2.9% and 4.7%, respectively). The relative resilience of iron ore prices during the month likely further squeezed steelmaker margins. Following the recent devaluation of the Chinese yuan, Chinese steel exporters were reportedly quick to adjust their US$-denominated export prices lower, placing more downward pressure on Asian steel prices.

 

This article is from Singapore Exchange and is being posted with Singapore Exchange’s permission. The views expressed in this article are solely those of the author and/or Singapore Exchange and IB is not endorsing or recommending any investment or trading discussed in the article. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

2015-09-03 09:54:21

Posted by
Barron's

Contributor
Options

Blue Chip Stocks On Sale

Options traders are paying big premiums to hedge their stocks, giving bullish investors a chance to buy IBM, Boeing, Merck and more at discount.

 

Some of the world’s most respected companies, whose stocks yield in excess of 2.5%, have declined by double-digit percentages in the past month.

If you think these stocks, which include Boeing (ticker: BA), Merck (MRK) and Microsoft (MSFT), declined too much in reaction to China’s economic woes, the options market offers long-term investors attractive opportunities.

Many bearish puts are trading at multiyear high premiums, reflecting the incredible demand among investors to hedge stocks. Puts increase in value when stock prices decline. This dynamic enables investors to sell bearish puts to potentially cherry-pick blue chip stocks.

We addressed this topic in the most recent edition of Barron’s. We recommended selling puts on stocks with significant unlevered free cash flow.

My colleague, Andrew Bary, highlighted a few blue chip stocks on sale, including General Electric (GE) and BlackRock (BLK).

Chris Jacobson, a Susquehanna Financial Group derivatives strategist, refined our call to arms by screening for stocks that fit several criteria desired by long-term investors.

He looked for stocks in the Dow Jones Industrial Average that have declined some 10% in the past month and that pay dividends that exceed the yield of the 10-year Treasury note. He excluded energy stocks. He then looked for stocks with skew levels — essentially bearish put prices — at multiyear highs.

Skew measures the difference between the implied volatility of out-of-the-money puts and calls. Elevated skew indicates the options market is pricing a stock in anticipation of a decline.

When skew is elevated, some investors sell bearish puts and buy bullish calls. The risk-reversal strategy obligates investors to buy stocks should they decline below the put strike price. If the stock advances, the call increases in value.

Jacobson’s trading menu includes Merck, Boeing, Microsoft, IBM (IBM), Pfizer (PFE), Cisco Systems (CSCO), JPMorgan Chase (JPM), United Technologies (UTX) and Procter & Gamble (PG).

Consider Microsoft: Jacobson notes the stock is down about 10%, while put skew is currently trading at a two-year high. He advised clients to consider selling Microsoft’s January $35 put and buying Microsoft’s January $47 call.

At $41.82, the risk reversal costs eight cents, and would prove profitable if the stock trades above $47. At $50, the January $47 call is worth $3. If the stock declines below $35, investors are obligated to buy the stock or to cover the put at a higher price.

The risk reversal strategy is a sophisticated trade. It lets investors monetize the fear of other investors, and position for snapback rallies. The “risky,” as it is nicknamed, is popular with hedge funds because it often enables them to control stocks without incurring any great cost.

In practice, the trade can be expensive for nonprofessional traders due to margin requirements. So if the strategy is appealing to you, and you are not a professional trader, or are concerned about tying up money to collateralize the trade, think about just buying the stock.

Bottom line: Many investors are looking for bargains amid the recent volatility in the stock market. The options market, even if you don’t trade options, offers a sensitive prism to evaluate those investment opportunities.

 

Get investing analysis that moves stocks and markets—Subscribe to Barron’s for just $1 a week.

This article is from Barron's and is being posted with Barron’s permission. The views expressed in this article are solely those of the author and/or Barron's and IB is not endorsing or recommending any investment or trading discussed in the article. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

2015-09-03 09:16:26

Posted by
Darren Chu, CFA
Founder
Tradable Patterns
Contributor
Technical Analysis

DAX (FDAX) Testing Daily Chart Downchannel Resistance

The DAX (FDAX) edged higher yesterday in anticipation of today's ECB meeting. The FDAX is now testing downchannel resistance (on the daily chart) and symmetrical triangle resistance (on the 4hr chart). Although daily and 4hr RSI, Stochastics and MACD are rallying or bottomish, weekly MACD is steeply sloping down. I will look to go long intraday today post ECB, keeping in mind my longer term bias is bearish.

DAX (Eurex FDAX Sep15) Weekly/Daily/4hr/Hourly

Tradable Patterns was launched to demonstrate that the patterns recurring in liquid futures, spot FX and equity CFD markets can be traded consistently profitably. Tradable Patterns’ daily newsletter (blog) provides technical analysis on a subset of ten to twelve CME/ICE/Eurex futures (commodities, equity indices, interest rates), spot FX and US equity markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.

 

This article is from Tradable Patterns and is being posted with Tradable Patterns’ permission. The views expressed in this article are solely those of the author and/or Tradable Patterns and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


 

2015-09-03 09:14:21

Posted by
Darren Chu, CFA
Founder
Tradable Patterns
Contributor
Technical Analysis

Euro Stoxx 50 (FESX) Testing Daily Chart Downchannel Resistance

The Euro Stoxx 50 (FESX) edged higher yesterday in anticipation of today's ECB meeting. The FESX is now testing downchannel resistance (on the daily chart) and symmetrical triangle resistance (on the 4hr chart). Although daily and 4hr RSI, Stochastics and MACD are rallying or bottomish, weekly MACD is steeply sloping down. I will look to go long intraday today post ECB, keeping in mind my longer term bias is bearish.

Euro Stoxx 50 (Eurex FESX Sep15) Weekly/Daily/4hr/Hourly

Tradable Patterns was launched to demonstrate that the patterns recurring in liquid futures, spot FX and equity CFD markets can be traded consistently profitably. Tradable Patterns’ daily newsletter (blog) provides technical analysis on a subset of ten to twelve CME/ICE/Eurex futures (commodities, equity indices, interest rates), spot FX and US equity markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.

 

This article is from Tradable Patterns and is being posted with Tradable Patterns’ permission. The views expressed in this article are solely those of the author and/or Tradable Patterns and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


 

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