ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
IMAX sold off almost 10% the day after heavy bullish trading on the stock’s options. This setback proved temporary as IMAX immediately turned around and set fresh 10-year highs on Monday. The chart below shows the recent action: *Chart created using TeleChart: The payoff on the calls has been tremendous so far. The March 15 … Read more
Europe bars Wall Street banks from government bond sales | Business | guardian.co.uk European countries are blocking Wall Street banks from lucrative deals to sell government debt worth hundreds of billions of euros in retaliation for their role in the credit crunch. (tags: Europe debt govt_spending GoldmanSachs) Governor Chris Christie’s Remarks to Mayors Chris Christie … Read more
It took a lot of patience, but Research In Motion Ltd. (RIMM) finally broke out yesterday above the $72 resistance level. The chart below summarizes the bullish technical set-up. *Chart created using TeleChart: RIMM fascinates because it is one of those stocks that attracts what I call “passionistas” – people with extremely strong and adamant … Read more
Talk of China giving up on dollar is nonsense: banker | Reuters Li Ruogu, chairman of Export-Import Bank of China, a lender tasked with supporting the country's foreign investments, said in a group interview that a collapse in the dollar's value would damage Chinese interests. China should focus instead on trying to stabilize the dollar … Read more
The stock market’s bounce from oversold conditions has been as impressive as almost all other such bounces over the past year. I noted in early February that several technical indicators were pointing to a buying opportunity. One of those indicators, the percentage of stocks trading above their 40-day moving averages (also known as “T2108“), is … Read more