ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Almost two years have passed since I first wrote about the promise of Soliton for tattoo removal. Since then, the company expanded its indications to include cellulite removal. Soliton (SOLY) is currently rallying apparently in anticipation of news from the FDA on the cellulite application. Next, the coronavirus pandemic delayed plans for a 2020 launch. … Read more
Stock Market Commentary The refresher for extended overbought conditions quickly transformed back into a close call. Sellers again created weakening overbought conditions for the stock market with the key indicator hitting the threshold. The minor selling in the major indices may mask a broader deterioration in the technical health of the stock market. Unlike the … Read more
The Amazon Panic An “Amazon Panic” describes a rush of selling in the stocks of companies potentially impacted by a new initiative from Amazon.com (AMZN). Invariably, the dust settles, the panic subsides, and buyers pick up the pieces. The whirlwind is a short-term, quick trigger reaction to a world shattered by Amazon. An Amazon Panic … Read more
Stock Market Statistics AT40 = 79.6% of stocks are trading above their respective 40-day moving averages (DMAs) (Day #10 overbought) AT200 = 77.7% of stocks are trading above their respective 200DMAs (7 1/2 year high) VIX = 20.8 Short-term Trading Call: neutral Stock Market Commentary A week ago, the overbought stock market stretched for a … Read more
Soliton Stock While the general stock market sold off in September, medical device company Soliton (SOLY) finally came alive. So far, the momentum continues into this month with Soliton’s stock closing at a 2 1/2 month high. SOLY is forming a potential bottom with a higher low and two higher highs including a breakout above … Read more
Stock Market Statistics AT40 = 42.5% of stocks are trading above their respective 40-day moving averages (DMAs) (2-month low)AT200 = 42.1% of stocks are trading above their respective 200DMAs (2 1/2 week low)VIX = 31.5Short-term Trading Call: cautiously bearish Stock Market Commentary The swift stock market sell-off took a fresh turn for the worse. AT200 … Read more
Stock Market Statistics AT40 = 54.6% of stocks are trading above their respective 40-day moving averages (DMAs) (intraday low of 45.9% which was solid support in second half of July and early August)AT200 = 46.9% of stocks are trading above their respective 200DMAs VIX = 30.8Short-term Trading Call: cautiously bearish Stock Market Commentary I thought … Read more
Stock Market Statistics AT40 = 53.8% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 33.5% of stocks are trading above their respective 200DMAs VIX = 25.8Short-term Trading Call: neutral Stock Market Commentary AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages (DMAs), barely budged all week … Read more
The Bank of Canada (BoC) released its latest Monetary Policy Report on July 15, 2020. Neither the report nor the press conference contained any surprises. The BoC did not change interest rates, kept the crank turning on its Quantitative Easing (QE) program, and promised to “hold the policy interest rate at the effective lower bound … Read more
Stock Market Statistics AT40 = 56.1% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 32.5% of stocks are trading above their respective 200DMAs VIX = 25.7Short-term Trading Call: neutral Stock Market Commentary Last week started with a growl and ended quietly. The stock market quickly transitioned from confirming a bearish … Read more