ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page.) T2108 Status: 33%. VIX Status: 24.0 General (Short-term) Trading Call: Hold. Continue identifying potential bullish positions. Start closing bearish positions on next market sell-off from current levels. Commentary T2108 dropped slightly … Read more
(This is an excerpt from an article I originally published on Seeking Alpha. Click here to read the entire piece.) The shorts finally nailed AK Steel (AKS) (shorts are about 17% of AKS’s float). On July 26, AKS reported it will be squeezed by lower steel prices and higher input costs – especially iron ore. … Read more
(This is an excerpt from an article I originally published on Seeking Alpha. Click here to read the entire piece.) Alix Steel, a reporter for thestreet.com, discussed gold on Nightly Business Report, July 26. She claimed that gold’s low volume, summer rally is being fueled by fears of a default on U.S. debt. Nevermind that … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page.) T2108 Status: 36%. VIX Status: 23.0 General (Short-term) Trading Call: Hold. Start identifying potential longs. Commentary Blink and you may have missed it. T2108 just went from invalidating my forecast of … Read more
Commodities continue to exhibit a dichotomy of patterns. Some have made new 52-week (and all-time) highs as they continue to recover from June’s selling. Others, like BAL, the iPath Dow Jones-UBS Cotton Total Return Sub-Index ETN, have continued a strong sell-off. On July 18, the stock gapped down, but buyers immediately closed the gap and … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page.) T2108 Status: 58%. VIX Status: 20.2 General (Short-term) Trading Call: Hold. Commentary T2108 dropped slightly to 58%. The S&P 500 also dropped slightly with a 0.4% loss. Most interesting is the … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page.) T2108 Status: 61%. VIX Status: 19. General (Short-term) Trading Call: Hold. Commentary T2108 dropped from the margins of overbought territory to 61%. It was a slightly larger drop than I would … Read more
On July 24, British Business Secretary Vince Cable was interviewed on the BBC’s Andrew Marr Show. During this interview, Cable made the case for further quantitative easing (QE) if consumer demand in the UK continues to weaken. While he was quick to point out that the Bank of England runs independently, he provided a ringing … Read more
(This is an excerpt from an article I originally published on Seeking Alpha. Click here to read the entire piece.) I have not updated my “sentiment” analysis on gold in nine months…{snip}…I think this is a great time to take a fresh look. {snip}…I use Google Trends on the terms “buy gold” and “sell gold” … Read more
Ivory Johnson: Why Gold Is Not a Bubble — CNBC Guest Blog The chorus of anti-gold rabble-rousers find themselves in some type of losing streak. Experts have predicted the demise of gold for roughly four years now, a period when gold has outperformed the S&P 500 by over 125 percent. Missing the first leg of … Read more