Uber Technologies, Inc. (UBER) reported its third-quarter numbers Monday night and the stock opened lower Tuesday. A few minutes after the opening, however, the stock crept higher suggesting that traders are buying or covering shorts. We don't really know who is doing what, but we can see prices improving.
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It's well-known that some of the biggest and best bounces occur in the worst markets, thanks to poor positioning. But here's the problem that traders can face.
Let's look at just how much lower we can go, how much higher rates can rise and what's flying in the U.K. and Japan.
The daily swings in the key index haven't been nearly as wild as they were 14 years ago, although most of the volatility back then came in the fourth quarter.
Let's check out the dumpster fire in the United Kingdom -- just as we were turning to Japan's yen move.