ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Throughout Amazon.com’s near 3-month downtrend, I have pointed out several bearish set-ups and confirmations on the stock in blog posts and tweets. On Tuesday, Amazon.com (AMZN) started the new year by finally breaking away from the downtrend. Today, AMZN lacked follow-through and put the breakout on tenuous ground. I remain bearish on AMZN but prefer … Read more
The U.S. dollar continues to creep slowly but surely upward as the euro steadily sinks week after week. After the dollar survived a plunge below the 200DMA that I thought marked the decisive end of its previous relief rally, the currency has faithfully followed its 50-day moving average (DMA) to higher ground. On Wednesday, the … Read more
Surprise! The dollar’s relief rally is not quite over as I had suspected last Thursday (October 27) when the dollar plunged with resounding force below its 200-day moving average (DMA). On Monday, the dollar index surged back above its 200DMA as all of last week’s booming enthusiasm over a deal on Greek sovereign dealt rapidly … Read more
Goldman Sachs (GS) is the company everyone loves to hate. This sentiment makes a potential bottom in the stock, potentially explosive. Since mid-September, buying volume in GS has significantly dominated selling volume. In the past 2 days, GS has gained 16%, producing a very strong breakout above the downtrend formed by a declining 50DMA. I … Read more
The saga of Best Buy’s bottom has now developed in a strange fashion. For two months now, I have maintained a laser focus on the buying opportunity in Best Buy (BBY) stock based on some stabilization around the 2009 lows. In the last post, I pointed out that sellers may have finally been washed out … Read more