ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Anytime after the March, 2009 lows, if you had asked me which stock or stocks would break those lows within the next three years, Cisco (CSCO) would have been one of the furthest names from my mind. And yet, Tuesday (Aug 9), CSCO closed just 2% above its closing and intraday March, 2009 low. When … Read more
Near the end of the last oversold period toward the end of June, I identified three stocks that I claimed had to hold support to maintain a bullish outlook for the stock market for various reasons: Proctor & Gamble (PG), Clorox (CLX), and Oracle (ORCL). I titled that piece “Chart Review: These Giants Must Not … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page.) T2108 Status: 30% and Neutral (oversold territory relative to behavior over past two years). General Trading Call: Continue covering shorts. Identify longs for buying IF T2108 gets to official oversold territory … Read more
(This is an excerpt from an article I published on Seeking Alpha. Click here to read the entire piece.) On Friday, briefing.com reported that rumors hit the trading floors that Cisco (CSCO) might make a buyout offer for Research In Motion (RIMM). The rumor was good for a brief 2-hour or so pop before the … Read more
What has changed in the two months it took for silver to stampede its way up $15 (a 43% gain) and back? Did the Federal Reserve raise rates? Did the Federal Reserve threaten the market with rate hikes? Did the housing market rebound sharply, generating an expectation for higher rates? Did inflation expectations adjust sharply? … Read more