ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
This is a quick follow-up on a piece I wrote about Cognizant Technology (CTSH) called “Planning to Accumulate Cognizant Technology Even As It Fights To Hold 2-Year Lows.” Since then, CTSH has rallied to fill its earnings gap from May. Source: FreeStockCharts.com I sold my position after the August earnings gap up thinking I would … Read more
I watched Autozone (AZO) this morning stage another incredible comeback from post-earnings selling. In pre-market trading, AZO was down over 3% around $345. By the time trading opened, AZO rushed out the gate at $355. While it looked like a bottoming move, I failed to give the trade a try (with a stop below the … Read more
Goldman Sachs (GS) has been on a tear lately. Since breaking out on September 5th, the stock is up about 11%. The first three days of the breakout move featured strong volume, above the moving 90-day average. GS is now challenging a major resistance area formed by a head and shoulders type pattern from 2012’s … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. It helps to identify extremes in market sentiment that are highly likely to reverse. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades … Read more
While writing about the attractive price of Pan American Silver (PAAS) and the seemingly imminent breakoout for silver (SLV), I neglected to note that SPDR Gold Shares (GLD) has already broken out from its extended downtrend. This move is of course inspired by Ben Bernanke’s Jackson Hole speech. At the same time the market anticipates … Read more