Facebook Stock: Analysts Rush to the Rescue At Key Support Level

Analysts (metaphorically) took note of Facebook (FB) teetering on a key support at its 200-day moving average (DMA) and rushed to the rescue. Two analyst reports helped confirm support with a 3.9% gain following Friday’s 2.3% gain. Another analyst report after hours should keep the rocket fuel burning going into earnings next week. The Analysts … Read more

A Bullish Kind of Bearish Call on the Stock Market

The stock market has enjoyed overbought trading conditions for the last 13 trading days and 14 of the last 15. I consider the stock market overbought when AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages (DMAs), trades above 70%. Overbought periods are times of mixed feelings. The stock market tends … Read more

An Overbought Stock Market Stretching for a Fresh Rally – Above the 40 (November 27, 2020)

Stock Market Statistics AT40 = 79.6% of stocks are trading above their respective 40-day moving averages (DMAs) (Day #10 overbought) AT200 = 76.0% of stocks are trading above their respective 200DMAs (near 3-year high and holding breakout above post financial crisis downtrend) VIX = 20.8 Short-term Trading Call: neutral Stock Market Commentary Instead of Monday, … Read more

Stock Market Support Melts Away, Delays Launch to Higher Prices – Above the 40 (October 26, 2020)

Stock Market Statistics AT40 = 46.3% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 51.9% of stocks are trading above their respective 200DMAs (8-month high) VIX = 32.5 Short-term Trading Call: cautiously bullish Stock Market Commentary The stock market looked like it was warming up from a period of cooling … Read more

How to Warn Investors and Guarantee A Correct Prediction

The Warning The CNBC headline warned investors: “Widespread overconfidence is putting investors in a dangerous situation, Invesco’s Kristina Hooper warns.” I typically skip right past such headlines. Yet my recent switch to a cautiously bearish short-term trading call made me more receptive to the big tease. I expected to read stock market predictions about the … Read more

Hibbett Sports: Stock Follows Through With Soaring Sales Results

Some sporting goods retailers have to survive the coronavirus pandemic. Hibbett Sports (HIBB) looks like one of them. Soaring Sales Results Hibbett Sports provided early sales guidance for its fiscal second quarter that delivered surprisingly strong results (all comparables are year-over-year unless otherwise stated): Total store sales for the quarter: over +70%; for the first … Read more

Hibbett Sports: Anatomy of A Stock’s Bullish Breakout

On June 25th, call options in sportings goods retailer Hibbett Sports (HIBB) sprang to life. At the time, around 1500 October $22.50 calls traded versus 0 open interest. On June 29th, open interest climbed above 2500. For context, HIBB options are sparsely traded. The second highest open interest sits with the Jan 15 ’21 calls … Read more

Stock Market Holds Tenuous Breakout from Oversold Conditions – Above the 40 (April 15, 2020)

AT40 = 21.5% of stocks are trading above their respective 40-day moving averages (DMAs) (2nd day outside oversold conditions)AT200 = 10.1% of stocks are trading above their respective 200DMAsVIX = 40.8Short-term Trading Call: cautiously bullish Stock Market Commentary “Swift and sweeping fiscal and monetary policy responses from U.S. officials will ultimately support stock prices from … Read more

A $2.3 Trillion End to An Extreme Oversold Period in the Stock Market – Above the 40 (April 10, 2020)

AT40 = 24.4% of stocks are trading above their respective 40-day moving averages (DMAs) (ended 31-day oversold period)AT200 = 10.9% of stocks are trading above their respective 200DMAsVIX = 41.7Short-term Trading Call: cautiously bullish Stock Market Commentary “The Federal Reserve on Thursday took additional actions to provide up to $2.3 trillion in loans to support … Read more

A Stock Market Hunkered Down After Green Shoots Slam Into New Downtrend – Above the 40 (April 3, 2020)

AT40 = 4.6% of stocks are trading above their respective 40-day moving averages (DMAs) (28th oversold day)AT200 = 5.1% of stocks are trading above their respective 200DMAs (new low for the oversold period)VIX = 46.8Short-term Trading Call: cautiously bullish Stock Market Commentary First, another dose of hope and a light reminder of the seriousness of … Read more