Pershing Square (PSHZF) announced Friday it settled a lawsuit claiming it and Valeant (VRX) had profited from insider trading in shares of Allergan (AGN): Pershing Square Holdings, Ltd. (PSHZF) (LN:PSH) (NA:PSH) today announced that it has reached an agreement in principle, subject to court approval, to settle lawsuits concerning the attempted acquisition of Allergan plc….
Some inflation could be a good thing! Inflation and Interest rates We’ve not heard much about either of these two market slayers of late. Barron’s year-end edition brings them back into focus –– “What Inflation Could Mean for the Market – Even a small uptick could catch markets off-guard. How to prepare.” We all know that higher…
UK construction sector eased slightly in December following an uneven recovery in business activity at the end of 2017. The Construction PMI stood at 52.2 in December, slower than the 53.1 recorded in November but above the 50 that separates expansion from contraction, the IHS Markit UK reported on Wednesday. According to the report, residential building remained a key…
Credit: Roadsidepictures from The Little Engine That Could By Watty Piper Illustrated By George & Doris Hauman c. 1954 ========================================= I wish I could have found a picture of Woodstock with a sign that said “We’re #1!” Snoopy trails behind carrying a football, grinning and thinking “In this corner of the backyard.” That’s how I…
Financial sanity and stability may not return, but we can protect our assets and learn from the discussion. The Dow, S&P 500, Nasdaq and other markets sell at all-time highs. However, many imbalances exist within our financial world. This is not new – things have been crazy before, are now, and will be again. But to…
Gold prices rose $9.84 on Tuesday as the dollar continued to fall on the first trading day of the new year. XAU/USD traded as high as $1321.34 an ounce, the highest level in 16 weeks, in early Asian session today. The slumping dollar is a bullish underlying element, but it seems that the market is…
FRBNY’s December 2017 Primary Dealer survey results aren’t yet published, so we will have to wait a few days for the collection of those banks’ economists to tell us what they think their own traders likely won’t do. It’s a mess in that situation, but one as old as the crisis. Nevertheless, Economists for some…
EUR/USD 4 hour The EUR/USD uptrend broke above the 1.20 round level resistance which now could become used as a potential support zone (green lines). There are also two support trend lines that could keep price from falling. The bearish wave count from yesterday has been invalidated and a bullish wave 3 (pink) is becoming…
Central banks are now trapped. In a nutshell, central banks are promising to “normalize” their monetary policy extremes in 2018. Nice, but there’s a problem: you can’t “normalize” markets that are now entirely dependent on extremes of monetary stimulus. Attempts to “normalize” will break the markets and the financial system. Let’s start with the core dynamic…
USD/CAD stays below a bearish trend line on the 4-hour chart and remains in downtrend from 1.2920. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 1.2400 area. Near term resistance is at the trend line and the key resistance is at 1.2600,…
