ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Stock Market Commentary The stock market’s dip into oversold territory lasted a day. Subsequent trading has carved out a new divergence. Big cap stocks like Apple (AAPL) and Microsoft (MSFT) helped bullrush the S&P 500 into an all-time high while a wide swath of stocks were left behind. Accordingly, market breadth is languishing again. The following stocks charts … Read more
Credit Suisse downgraded Peloton Interactive (PTON) from outperform to neutral. The analyst at Credit Suisse also slashed their price target from $112 to $50. Despite a price target higher than the previous day’s closing price of $40.70, PTON still fell 5.4% to $38.51 and a 19-month low. So why did PTON sink on an analyst … Read more
Stock Market Commentary The stock market’s dip into oversold territory lasted the typical one day. The immediate wake was ugly. The follow-through revealed a new divergence. The resulting oversold bounce carved out the S&P 500 for special status as the winner of the divergence. The index hit an all-time high while the majority of the … Read more
Between an accelerated share buyback program and executives using their own money to buy shares, Chegg, Inc (CHGG) finally looks ready for a price bottom. On November 29th, Chegg made the following proclamation in concert with the $300M acceleration of share repurchases: “The accelerated share repurchase demonstrates the strength of our balance sheet, and it … Read more
Stock Market Commentary The stock market rebounded out of oversold trading conditions but ended the week in ugly fashion. The combination produced fascinating snapshots of an ugly oversold bounce. Expensive growth stocks are rapidly falling out of favor while a convergence of negative headlines and uncertainties is painting plenty of ugly all over the stock … Read more