Diamonds and Dogs

8/13/18

Twitter (TWTR) gets an upgrade. Twitter has been on a roller coaster ride rallying 50% from April to July only to give up those gains. Today, Twitter is up 3% following bullish comments from Citron Research with a $52 price target. "Twitter is more relevant now than it has ever been and in media, dollars follow relevancy," Citron analysts wrote. "While Twitter is commonly bucketed with Facebook, Citron believes Twitter actually sits alone, with no direct competitor in the exchange of thoughts." Let the roller coaster ride continue.

Let's talk Turkey. The ETF that tracks the Turkey stock market (TUR) is down 10% today and down 57% since March due to deteriorating market economic conditions and concerns about debt defaults. Canaccord Genuity noted Turkey's external debt (the debt owed to foreigners) is $447 billion, only about three-quarters of Greece's when that country ran into trouble in 2010-11. Thus, in nominal dollars, Turkish debt is less of a concern than Greek debt was, but still not a good thing.