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      10/06/21 10:53

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    urbant
    Joined 02/02/23 10:26
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    • Turn Of The Month Trading Strategy (2023 Update) The TOM Strategy is a well-documented strategy for trading indices such as the S&P 500 & FTSE 100. The idea is simply that the markets make greater than average positive moves from the last part of the month to the early part of the next month. A common rule is go long at the close on the 5th last trading day (T-4) & sell at the close of the 3rd (T+3). Many tests have been done over the years and it has be shown to give a positive return, often more favourable than a buy and hold strategy. See our full write up and analysis. Including our test on 2022 data, https://moneysandi.com/turn-of-the-month-trading-strategy-2023-update/ Has anyone tried it? Let me know how you got on if so. 
    • Gold boosted by weak dollar, as natural gas and Brent crude prices head lower A FOMC-driven dollar decline has helped gold, but natural gas and Brent crude look set for further downside. Source: Bloomberg      Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 02 February 2023  Gold uptrend continues after FOMC boost Gold has managed to surge into a fresh nine-month high after Jerome Powell helped drive the US dollar lower once again. That dollar slide saw gold push through the $1949 resistance level, following on from a recent deep pullback that provided us with yet another higher low. With that in mind, the trend continues to roll onwards, with the latest low of $1901 now providing us with the level to break if the bears are to gain any foothold. Until then, further upside looks likely. Source: ProRealTime Brent crude rolls over as wider downtrend kicks in Brent crude looks set for another bearish phase, with the recent rally into trendline resistance finally seeing the wider downtrend kicking in once again. The move through $84.02 and subsequent rebound looks to have provided a bearish head and shoulders formation here. Ultimately, we have now moved from creating fresh highs, to a situation where Brent trades in a series of lower highs and lows. For now, there is a good chance that we tick higher to retrace the latest move lower, but any rebound would be deemed a selling opportunity as long as we do not break through the $86.18 swing-high. Source: ProRealTime Natural gas falls into yet another low within downtrend Natural gas has been hit hard over the course of the past six weeks, with price moving in a highly consistent and predictable manner.This is the perfect trading environment given the reliable formation of lower highs and lower lows seen over that period. Once again, we have seen price fall into a fresh long-term low today (22-month), with further downside expected as a result. As such, short positions remain favoured unless we see price break back up through the $27.89 resistance level. Source: ProRealTime
    • Meta shares were a whopping 25% amid plans to cut costs and give a $40 billion share buyback. In terms of guidance, Meta forecast Q1 revenue between $26bn and $28.5bn, in line with analysts’ average estimates of $27.1bn.    Jeremy Naylor | Writer, London | Publication date: Thursday 02 February 2023   Meta shares surge Meta Platforms, which owns Facebook, was in absolute lift-off mode last night. It jumped 25% on the IG platform last night in extended trade as a result of news that came out after the bell. Investors gave little interest to earnings and revenue, where fourth quarter (Q4) net income fell to a $1.76 per share, much lower than the $2.26 expected. A drop was largely due to a $4.2 billion charge related to layoffs and office closures. Revenue reached a whopping $32.17 billion. Share price chart Now, let's take a look at what's been happening with shares because there was absolute lift-off last night. As I said, a straight up candle this is a Marubozu candle. You can see where it started at yesterday's session at the low point. And it ended without any sellers in this market at all, up a total of 25.12%. This is after chief executive Mark Zuckerberg described 2023 as the year of efficiency and updated the market on a series of cost cutting measures like its plans for lower data centre construction expenses this year and pledged stricter cost control. And we remember the group parted with more than 11,000 jobs back in November, which did cost that money and a one-off. In total Meta Platforms to cut costs in 2023 by $5 billion to a range of between $89 billion to $95 billion. The group also announced a new $40 billion share buyback program in terms of guidance, better forecast first quarter revenue between $26bn and $28.5bn in line with analysts, average estimates of $27.14 billion. But it was good news for investors last night in Facebook owner Meta.
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