Well as in london. We begin with a biggie week a busy week for Central Banks. Bank of japan says they will take on unlimited buying of Government Bonds, lifting the cap also on corporate holdings. I, he joins us now. , kitchen sink, we are still throwing it. Michael Central Banks are all as string the question of what you do when you have throwing the kitchen sink. In the back of japans case, you just make the sink a little bigger. The bank of japan already has negative rates, Corporate Bond and etf buying, and an emergency Lending Program, so they just decided to make those programs a bit bigger. Unchanged at rate 10 basis points. Remember, they do yield curve control. They mentioned they would buy as many Corporate Bonds as they need to and expanding access to its Emergency Loan Program for a wider range of banks. For analysts, theres a bit less here than meets the eye. They dropped their ¥80 trillion limit on Government Bond buying, but they werent buying anywhere trillion, so it d
Investors have been singing golds praises but if you were late to the dance, mike has a new move to get you out on the floor. Its time to risk less and make more options action starts now. Lets get right to it next week kicks off a big round of earnings with disney, beyond me, and our chart master says there may be opportunity lurking in the payment space carter what are you seeing in the charts you bet a couple charts but first the set up is were going to pay pay pal for a break out to new highs, and the set up is perfect. The first chart, take a look at the symmetry of this circumstance you have a 23 , 23day plunge, a 23day ricochet. You start at 124, you drop to 82, you go right back to 124, so again, a 35 decline, which you can see there, 51 rally, all very symmetric in terms of price and time and here we are right back at the time look at the second chart, this pulls it back a bit longerment look at the authority of this level. The stock has approached this and reapproached this,
Options action starts now. Lets get to it. Next week kicks off another round of earnings with beyond meat, uber, and General Motors on deck. Carter worth said there may be some opportunity lurking in the payment space as paypal gears up to report. So, carter, what are you seeing in the charts . You bet. A couple of charts first, the set up is paypal for a breakout to new highs. Its right at the set up is perfect. The first chart, take a look at the symmetry of this circumstance you have a 23 , 23day plunge, a 23day ricochet. You start at 124, you drop to 82, you go right back to 124, so again, a 35 decline, which you can see there, 51 rally, all very symmetric in terms of price and time and here we are right back at the time look at the second chart, this pulls it back a bit longer. Look at the authority of this level the stock has approached this and re approached this, and this is a perfect kind of set up for a news related break out earnings and earnings are coming next week. The ot
If you look at it, it is more of a financial thing than an Oil Situation. Airlines stock go into descent. Problems for peugeot expecting to see the european car market shrink this year. Lse outperforms. Also reaffirming the final dividend and will complete the 37 billion refinitiv deal in the second half. President trump issues an executive order suspending all immigration into the United States to, quote, fight the invisible pandemic and to save american jobs. Well documecome to street. Lets get to the top stories of the today, which is energy markets. U. S. Crude turns negative for the First Time Ever. Siting the strain on storage looking at minus 2. 08 falling 30 , yesterday settling over minus 37 a barrel. That means producers would pay traders to take oil off their hands. Amid widespread lockdowns amid an output cut among opec have not yet taken effect uta trading around 20 a barrel. Clearly holding out much better than the may contract. Big questions remain over whether we could
Hardpressed drillers . We will ask. Now we are quoting the next contract for june delivery. The price coming in at, where was it moments ago, what was it, 15, 16 a barrel. The president will fill the Strategic Petroleum reserve with up to 75 billion barrels. That helps storage capacity. But it makes no impression on collapsing demand which is at the heart of the oil price problem. A lot of people expect that that price, the one we see right now, what was it, 16, 15 a barrel, expect it to down from here. Well see. Stocks, theyre down in part because of the Oil Situation. Its another indicator of how badly the virus is affecting the economy. Investors not happy about the demise of Americas Energy industry. The dow will be down 500, s p, lets see, 54 points down and the nasdaq down about 82. A small loss in percentage terms compared to the dow and the s p. Well, the president s twitter account active last night, late last night. He called the virus the invisible enemy and said he would is