Nov. 26-Nov. 30, 2018 Weekly Trading Update PMs, S&P500, BTC
As we review the trading of the market for the last trading week of November trading now focusing on international news, the G-20 meeting, and the FED. German and Italian banking problems, including Detusche Bank reaching all time lows., GE reaching lows since 1994. Otherwise, there was a panic bid for stawks, will the dead cat bounce, how high. Waiting for additional news from the G20, Trump & Xi, which country will get the better agreement for trade, tariffs.
All our charts will be in the weekly candlestick mode.
Precious metals was showing a downward bias, greatly effected by the strength of the USD, with the candles showing 2 red candles but closing 0.01 higher over two weeks. USD closed at 97.20, a rise of 0.27 for the week, even with much volatility.
S&P500 had an upward bias the whole week as FED officials were paraded out to save the market. Successful in my opinion.
Crypto bounced off the lows, attempted a sustained rise over 4000, then trading slightly below that mark for BTC and back above now. Total tokens tracked are at minus 1, at 2073, total marketcap at 134 billion, and BTC dominance at 53.6%. A surprise as Stellar is up to #4, replacing BTC Cash & EOS.
Keep stacking. Go get you some.
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Worrisome seeing GE at new lows
First of many companies which bought back their own stock when the market was at record highs, then when they crash like GE, their assets are under-water.
There's a lot of risk out there at this point in the business cycle. It's important to be looking hard for value!
GE is an easy temptation for beginner investors due to its dividend rate, but it doesn't have much growth value.
GE has a good dividend?
Check again. It was completely cut over a month ago from .12 cents a quarter to a penny. This was after being cut from .24 cents almost a year ago so that’s a 98% cut and it’s at current price under a tenth of one percent. Not tempting at all for dividend
Wow. Last I checked it was up near 4% per year. That's disturbing...
Now that the new quarter is posted it’s updated.
Wow... just wow.
It was $12 when they cut it in early November. At this rate the penny might be 4% if GE keeps going this way 😱
I'm sure the trade deals at the G20 will have a positive spin! Do we see a Santa clause rally this year?
For sure, no news is positive news..Haha........For the last three years, December has been bad for PMs, hitting their lows during each year.
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