Above the 40 (August 22, 2017) – The Stock Market Gets A Reflex Bounce

AT40 = 35.8% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 46.9% of stocks are trading above their respective 200DMAs VIX = 11.4 (14.0% decrease) Short-term Trading Call: neutral Commentary Since last Thursday when I lasted posted Above the 40, AT40 (T2108), the percentage of stocks trading above their respective … Read more

T2108 Update (January 13, 2015) – Pause Interrupted

(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. It helps to identify extremes in market sentiment that are likely to reverse. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are … Read more

T2108 Update (March 11, 2014) – A Cascade of Warnings Awaiting Confirmation

(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. It helps to identify extremes in market sentiment that are likely to reverse. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are … Read more

Take A Pause From Your Deflation Fears and Consider Some Counter-Evidence

(This is an excerpt from an article I originally published on Seeking Alpha on April 25, 2013. Click here to read the entire piece.) The Swiss franc (FXF) has started another weakening phase, putting an exclamation point on the currency market’s refusal to go along with the shrill, recent headlines claiming another deflation cycle has … Read more

Using the QE2 Reference Price To Buy Freeport-McMoRan

(This is an excerpt from an article I originally published on Seeking Alpha on September 10, 2012. Click here to read the entire piece.) {snip}…I want to demonstrate how well last year’s playbook has worked for Freeport-McMoRan Copper & Gold Inc. (FCX) (so far!). One of the rules from the playbook states: “QE2 (the second … Read more

Chart Review: Google Hits Resistance, Freeport Mcmoran Makes New 2011 Lows

Many technology stocks have rebounded sharply off their August lows. Stocks like Amazon (AMZN) and Apple (AAPL) have even managed to register fresh all-time highs in the past week. On the other hand, Google (GOOG) has gone nowhere in about two years and now faces overhead resistance yet again. In today’s trading, GOOG was turned … Read more

Genesee and Wyoming Further Diversifies By Hauling Copper

(Hat tip to a friend of mine who passed along this news to me and highlighted its significance). On Thursday, Sept 1, Genesee and Wyoming Inc (GWR), finalized its acquisition of Arizona Eastern Railway (AZER) from Iowa Pacific Holdings, LLC of Chicago, IL. GWR paid $90.1M in cash. GWR is a diversified railroad company operating … Read more

Copper Prices Hold Firm

In mid-May, I warily eyed copper as it looked ready to lead the correction in commodity prices into a complete breakdown (see “Silver Fails Resistance; All Eyes on Copper’s Support“). However, over the past six weeks, copper prices have held firm by clinging to the 200-day moving average (DMA) line of support. Source: Stockcharts.com This … Read more

Silver Fails Resistance, All Eyes On Copper’s Support

(This is an excerpt from an article I published on Seeking Alpha. Click here to read the entire piece.) Silver failed at its 50-day moving average (DMA) resistance in spectacular fashion. Silver dropped 9% and gave up almost its entire gain from the previous three-day relief rally. Source: stockcharts.com As I mentioned in my previous … Read more