ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
It seems Friday’s stalemate was indeed a demonstration of Apple buyers finally putting up a fight. Apple’s stock is still in a short-term downtrend, but the trading action has been electrifying almost the entire way down. The wild swings and near symmetry of the move downward are the kind of “art” that only a chart … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on May 17, 2012. Click here to read the entire piece.) The past three earnings cycles have delivered some tremendous post-earnings successes in stocks like Amazon.com (AMZN), priceline.com (PCLN), Best Buy (BBY), and Apple (AAPL). J.C. Penney (JCP) broke my streak in … Read more
A little over a week ago, I pointed out that shorts are increasing along with a drop in the put/call ratio on J.C. Penney Company (JCP). At the time, I said that I was done buying puts on JCP. Since then, I decided to buy calls. The stock is now bouncing off 200DMA support. It … Read more
I last wrote about J.C. Penney (JCP) in March right after an ominous breakdown below its 50-day moving average (DMA) (see “Put Buyers Rush Into J.C. Penney As The Stock Breaks Down“). I soon joined the surge of put volume that occurred around that time, and the trade ended well. JCP eventually erased all its … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on March 26, 2012. Click here to read the entire piece.) According to ETF Channel, Best Buy (BBY) is the second largest holding of the SPDR S&P Retail ETF (XRT). Yet, BBY is greatly underperforming this retail ETF. While XRT is at … Read more