ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
AK Steel (AKS) reported earnings January 25. The news was good enough to send the stock up 7.7% and back above its 200-day moving average (DMA). Since then, AKS has essentially recovered all the damage done by a Goldman Sachs downgrade to sell in early January. *Chart created using TeleChart: AKS delivered a mix of … Read more
I thought I would get extremely bearish once the S&P 500 reached my upside resistance target of 1300-1310. Yet here we are just five weeks into the year, and the deepest angst I can summon is an uncomfortable sense of “caution.” With T2108 – the percentage of stocks trading above their respective 40-day moving averages … Read more
After scanning through the latest quarterly release of the “Statement of Monetary Policy” from the Reserve Bank of Australia, I was reminded that currency traders are trying to prepare for eventual rate hikes from the European Central Bank (ECB) and the Bank of England (BoE): “While financial markets continue to expect the US federal funds … Read more
When I made the case for buying CSCO after its earnings disaster in November, I was bracing myself for an extended stay at or near 52-week lows. I even planned to add more on a steep enough decline. After two weeks of slowly drifting downward, CSCO made a bottom. The stock is now climbing out … Read more
On Wednesday, Wunderlich Securities issued a trading call on solar stocks citing a correlation with oil prices. First Solar (FSLR) was the prime beneficiary of this research. Eric Rosenbaum from TheStreet.com beat me to the punch critiquing this call in “Should Solar Stocks Trade on Rising Oil?“, but I will add my two solar panels … Read more