Friday, December 09, 2016

Wary Chinese Acquisitions In U.S. Ahead Of Trump Presidency

China Bolsters Capital Controls Ahead of Trump Presidency

Nearly two years after encouraging Chinese companies to go on an acquisitions spree overseas, stirring global markets, Beijing is asking them now to pull back. For the first time, China is also tightening its scrutiny of bogus overseas fund transfers of its currency, the yuan, or RMB, to clamp down on what it calls “irrational” investments.…

Key Economic Sector In China Opens Up

China further opens auto batteries, electronics to foreign investment

China will further open up the segments of batteries of new energy vehicles and automotive electronics to foreign investment, to level the playing field in the world's largest auto market, according to a revised guidance by the National Development and Reform Commission and the Ministry of Commerce released on Wednesday. "Such a policy shows that the…

Big Test For Trump On Entering White House

The debt limit monster is coming back, in time for Trump's first 100 days

WASHINGTON — Congress is brewing up a budget mess that could turn President-elect Donald Trump's first 100 days into a fiscal donnybrook. First, it likely will vote this week to extend the current federal budget just long enough that it expires in the early spring. Second, it's put off until the same time the political monster…

Thursday, December 08, 2016

Protest Elsewhere To Likely Follow

Greeks strike against 'repressive austerity'

Greece's leading unions have launched a general strike that shut down several key sectors in protest over planned new pay cuts and taxes called for by international creditors. Civil servants, bank staff, merchant seamen, railway workers and state-employed doctors were among professionals taking part in Thursday's 24-hour stoppage against the measures, which are scheduled to be…

Finanicals At Resistance, Need We Say More?

Financials Tag Trendline

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Italexit: Consequences To Be Determined

Patrick Luciani: Italy is on the verge of damaging the EU in a way that will dwarf Brexit

Rarely does a chance come along to shift a nation's fortunes by changing its constitution. Italy had that chance and, in the process, could rid itself of an elite and bloated public administration and effectively abolish one branch of government - the Senate - that entrenches delay, waste, and corruption. But Sunday night, Italy voted "no"…

The Oil Sands Is Slowly Crawling Back

Peter Tertzakian: Oilpatch revenues may hit $100B next year, but let's not get carried away with optimism

"If you don't have your crews lined up by now, you're not going to be able to complete your wells in Q1," replied my oilfield service friend. "We're fully booked into the New Year," he nodded, anecdotally confirming the trends I was starting to sense. Back at the office, my line charts for Canadian upstream spending…

Wednesday, December 07, 2016

I Told You The World Was Still Awash In Oil

Crude’s Intraday Top

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The last bastion for bears these days appears to be crude oil. Now that the OPEC cat is out of the bag, we can actually focus on simple economics, and it’s pretty clear that the worldwide glut in oil isn’t about to abate. Looking at the intraday chart, I’d say oil is ripe for some more slippage.
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This Is Why I Love Investing In Emerging Markets

Financial Inclusion Could Add $3.7 Trillion

This article was originally published by International Business Times. Delivering financial services to the developing world's unbanked people will add $3.7 trillion to the GDP of emerging economies within a decade, according to a recent report by McKinsey. Some two billion individuals and 200 million micro, small and midsize businesses in emerging economies today lack access…

A Thinga-mabob That Fits In the Hoosiewhatsit

Meet the $2.9 billion doohickey that shrank Canada's monthly trade deficit

You may have seen that Canada's trade deficit shrank to $1.1 billion in October, down from a whopping $4.4 billion it hit the month before. That's a titanic shift. The October number is the lowest since January, while the preceding September number was a record-high. What gives? It's all due to the delivery of a very…

Tuesday, December 06, 2016

Head And Shoulders In Oil?

With and Without

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Good morning, Slopers, and welcome to a new trading day.

It’s the same old deal with equities – – lifetime highs across the board. I must say, though, I’m quite taken by energy once again. Take a look of this crude oil chart, and note the circles in particular:
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This market has been range bound for many months, from about $42 on the lower end to about $53 on the top. What I find interesting is that, in spite of the worldwide hoopla over the OPEC deal (and, let’s face it, since it’s been EIGHT YEARS since anything like that has been announced it really is a big deal), the price peak (red circle) didn’t even get past the level seen in October (when no deal at all was even announced!)  I think that’s illustrative of just how much of a non-game-changer this so-called historic announcement is going to mean. I thus remain short energy stocks AMJ, APC, CWEI, DVN, and EGN.

Africa Continues To Expand Into Mining

Burkina Faso wants to share its gold wealth

We are a hundred meters underground, in the tunnels of the Bagassi gold mine. It’s one of eight in Burkina Faso and operated by Canadian company Roxgold. Its goal is to mine 3 tons of gold every year for 10 years. Gold has become the Burkina Faso’s key export product, accounting for a high percentage of…

Monday, December 05, 2016

Given Everything That's Happened In Italy, I'm A Little Suprised By This

At least that right-wing party didn't win in Austria, but unfortunately Renzi didn't win the referendum in Italy. Having lived in Italy for about ten years I was sad to see that result as I always felt their dysfunctional system was holding them all back from greatness. The absurdity and craziness of the Italian system was just too much for us, but I felt that asides from giving the country character and personality it was something that held them back from being a truly progressive country. It is a country that has the unlikely distinction of having had forty governments since the end of the Second World War. Thankfully as one economist wrote several weeks ago, "it's not going to change very much." Given the pattern of voting in global elections over the last few months 2016 is shaping up to be the year of "rollbacks." People have come to look at and evaluate progress differently in 2016, "and not changing very much" seems to be the theme that's developing.

In the meantime many authors and commentators have been remarking on the bullish configurations European banks seem to be making so I took a look at the Vanguard FTSE Europe ETF and a bullish move was made. I should have updated this four days ago but a "buy" single went in with a massive move that put's VGK right at resistance. We've seen a bullish crossover on the EMA's with a large gap up plus a "long/buy" signal on the RSI(5). If VGK can get above $46.75 I would consider this a very bullish development. 
Even on the 30 minute chart a "buy" signal went in around the 21st of November wherein an ascending triangle was made with today being the breakout.

"World Recovery Is Slow And Unbalanced"

Risks of global economic downturn increasing: Chinese official

BERLIN - World economy is recovering, but the process is slow and unbalanced, China's vice finance minister Zhu Guangyao said here Friday. "The risks of economic downturn and uncertainties are increasing," Zhu said on the sidelines of a G20 finance and central bank deputies meeting. Monetary policy divergence among developed economies, negative growth of some major…

Please, Can The Market Have A Healthy Correction Already?

US Markets Stop for Breath After Record Highs

U.S. major stock averages took a breather this week after hitting a series of record highs over the past three weeks. Investors have viewed Donald Trump's victory in the U.S. presidential election as positive because his policies are perceived to be market-friendly. The November employment report showed 178,000 jobs were created, which was largely in line…

I'm Sure The Money Is Safer In Europe Than Home In China

Chinese buys of European firms up 40 percent

Germany leads with 34 deals; e-commerce, financial services, high-tech companies attract investors Chinese dealmakers have completed 170 European acquisitions worth $90 billion so far this year, according to analysis by UK business advisory firm Deloitte. That is 40 percent up on 2015 when 122 deals were finalized. Deloitte's analysis, which covers the period to Nov 22,…

Sunday, December 04, 2016

They're Not Just For Hobbyists Anymore

Drones Poised to Transform Agriculture

This article originally appeared on the Motley Fool. Agricultural efficiency is poised to take a big leap with drone technology now that the U.S. Federal Aviation Administration is streamlining regulations for unmanned aerial vehicles. A recent report from PwC pegs the addressable market for agricultural drones to be worth a whopping $32.4 billion, second only to…

Supply Cuts? The World Is Still Awash In Oil

OPEC drives Saudi supply cuts

The effect of OPEC's deal to reduce crude output starting next month is already being felt in Saudi Arabia, the world's biggest oil market. OPEC's biggest producer - Saudi Arabia is also the world's biggest crude exporter - is planning to curb the additional crude it offers to Asia customers on top of its regular scheduled…

Friday, December 02, 2016

Oil For A Breather?

Lofty Oil

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Howdy from Georgetown, the charming college town near D.C. The weather is perfect here, and one of my beloved children is with me as we soak in the ambience. (I even got recognized on the street by a chap walking his beautiful dog, Lola.)

In between the soaking, though, there is, of course, trading. Crude oil continues to explode higher. Why did this headline not shock me?
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I am nibbling on energy stocks once more, though. I think this OPEC-gasm is about over.
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"Brexit" Round Two

It's Italy's turn to spook the markets, but don't hold your breath for 'Italexit'

Italy offers so much that's fascinating to the rest of the world. Beautiful landscapes. A deep and meaningful history. One of the world's great cuisines. Friendly, passionate people. Delightful wine. Vibrant, historic cities. And, oh yes, political dysfunction. This last, sadly not uniquely Italian offering has received quite a bit of international attention lately, thanks to…