ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The Stock I have not reviewed my list of consumer discretionary and retail stocks in a very long time. The recent and current carnage confirmed for me that a large swath of these stocks hit major lows on March 18th ahead of the general stock market low on March 23th. Some of these stocks have … Read more
The change was swift and dramatic. In mid-February, Redfin (RDFN) delivered a very bullish earnings report proclaiming it’s on “like Donkey Kong.” In the face of nascent concerns about the coronavirus (covid-19) threat, on March 11th Redfin (RDFN) delivered a semi-reassuring press release titled “Housing Demand Holding Up Surprisingly Well, For Now.” Two weeks and … Read more
AT40 = 3.8% of stocks are trading above their respective 40-day moving averages (DMAs) (23rd oversold day)AT200 = 5.0% of stocks are trading above their respective 200DMAs (new low for the oversold period)VIX = 65.5Short-term Trading Call: bullish Stock Market Commentary First a dose of hope: “Coronavirus treatment: Palo Alto woman recovers from coronavirus after … Read more
It is hard to imagine now, but the U.S. consumer economy will rebound. When it does, these current days will look like a time of incredible bargains. One of the many challenges of buying in the middle of panic and an economic calamity is finding companies that are durable and worth the risk of an … Read more
AT40 = 2.5% of stocks are trading above their respective 40-day moving averages (DMAs) (20th oversold day)AT200 = 3.7% of stocks are trading above their respective 200DMAs (new low for the oversold period)VIX = 61.7Short-term Trading Call: bullish Stock Market Commentary The week did not start as I feared with a 5th circuit breaker shut-down … Read more