Category: Banking
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Bitcoin bulls beware! Topping pattern to trigger more downside?
You know I was hoping to enjoy this weekend off from charts, but I could not help myself. Many traders, even just for curiosity, had their eyes glued on the bitcoin chart given the Israel-Iran tensions over the weekend. Before the markets closed for the weekend, they did sink as the Iranians said they were…
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Gold hits record highs. Do not FOMO!
Gold prices against fiat currencies are printing new all time record highs. The only pairing which has not yet printed record highs is gold against the Swiss Franc, but it is almost in new record high territory. In this article, I will provide a technical game plan to play gold. But first off, let’s talk…
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![Markets mixed as Canadian employment rate remains steady 01-05-23]()
Markets mixed as Canadian employment rate remains steady 01-05-23
The TSX edged up 13.61 to 20884.96. TSX Venture slipped slightly 2.94 to 548.62 while the CSE Composite similarly dipped to 169.24. Canada’s unemployment rate remained relatively unchanged at 5.8% at the end of December. Even though job growth was non-existent, wages did increase for those working above the 49th parallel. Base Metals and Industrials…
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![Toronto-Dominion Bank: A Rising Star in Dividend Investing or a Risky Bet in Current Economic Climate?]()
Toronto-Dominion Bank: A Rising Star in Dividend Investing or a Risky Bet in Current Economic Climate?
The headlines were on fire earlier this year when it was reported that Toronto-Dominion Bank (TD.T) was the most shorted bank in world. Those headlines have all but disappeared but the bank’s short trade volume was still high in the November 15, 2023 Short Sale Trading Summary released by IIROC which placed the short trade…
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![Stock markets rattled as US banks get downgraded]()
Stock markets rattled as US banks get downgraded
Recession. Inflation. Soft landing. Interest Rates. The Federal Reserve. The Federal Reserve is near the end of rate hikes. Earnings. Geopolitics. I am sure I have forgotten something as we look at all the factors impacting market narratives. Oh yes! Do you remember a few months ago when regional banks were making headlines? A few…
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![SEC Lawsuits Against Binance and Coinbase: A Damning Indictment of the Cryptocurrency Concept?]()
SEC Lawsuits Against Binance and Coinbase: A Damning Indictment of the Cryptocurrency Concept?
In an unprecedented move signaling increased scrutiny of the cryptocurrency industry, the U.S. Securities and Exchange Commission (SEC) has filed lawsuits against leading crypto exchanges, Binance and Coinbase. Allegedly, both exchanges knowingly violated securities laws, prompting the debate: is the entire concept of cryptocurrency fundamentally flawed, or even a sham? The SEC contends that Binance,…
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![Short sellers still strong at TD Bank – are we missing something?]()
Short sellers still strong at TD Bank – are we missing something?
Short sellers still have a concerning percentage of the share float at TD Bank (TD.T), totalling 22% as of May 31, 2023 according to the Short Sale Trading Summary Report published by the Investment Industry Regulatory Organization of Canada or IIROC. TD Bank already made headlines when the Canadian-based financial institution was reported as the…
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![Fed hawkish pause, regional banks tanks, and gold nears record highs!]()
Fed hawkish pause, regional banks tanks, and gold nears record highs!
Well what developments in the past 24 hours. Investors and traders were anticipating the Federal Reserve meeting. A 25 basis point hike was expected along with some statement hinting at no more interest rate hikes. Well, the market got the 25 basis point hike (the Fed’s 10th rate hike in a row), and some sort…
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![First Republic Bank troubles weigh in on stock markets]()
First Republic Bank troubles weigh in on stock markets
As earnings continue to come out mixed, and raising the probabilities of an upcoming recession, leave it to the regional banks to once again take center stage. Many analysts warned that the regional bank crisis is not over when you consider the fact that deposits are shrinking, lending (a bank’s primary business) is slowing, and…
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![Short bet against Canadian Bank TD increases by 45%]()
Short bet against Canadian Bank TD increases by 45%
Two weeks ago, Canadian bank Toronto-Dominion (TD) became the world’s most shorted bank. Hedge fund bets against TD hit $4.2 billion. This news raised some concerns for Canadians as hedge funds are clearly shorting TD for some reason. Is it a bet against the Canadian economy? Most analysts agree the short is a sympathy play…
