Thursday 19 November 2015

10am update - square and match nonsense

US equities open in minor chop mode, with the sp' in the upper 2080s. As the USD cools -0.5% in the DXY 99.10s, the metals are seeing a sig' bounce, Gold +$11. Meanwhile, new listings in Square and Match.


sp'60min


GLD, daily


Summary

As for the new listings of Square (SQ) and Match (MTCH) .... urgh.

More nonsense, neither company of which actually creates anything 'real'. In the new US economy, its mostly about sifting pennies off existing retail transactions, and anything else in the online world.

Give me a company that manufactures something REAL ! Hell, even IBM would be better.
-

notable weakness....

CHK -7%.. in the $5.50s...

The giant monthly cycle really shows the horror....


With commodities under broad downward pressure via the strong USD.... CHK is in serious trouble. Capitulation in the energy sector is coming. Not all of the familiar names will still be around by end 2016.