ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
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
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
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
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
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