ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The NASDAQ has churned mightily in an uptrend that is slowly but surely grinding upward from the June lows. Support at the 200DMA held in June and now the technology-laden index is working on holding support at the 50DMA. Embedded in this churning action are lots of chills and thrills. Two big cap tech stocks … Read more
I have written positively several times about Kb Home (KBH) this year (for example, see “KB Home ‘On Offense’ As Its Housing Markets And Pricing Power Strengthen“). KBH is up nicely for the year through a lot of turbulent price action, but it has yet to shake its former downtrend drawn from the peak of … Read more
On Friday, May 4, Apple (AAPL) dropped 2.9% in price and came within 5 points (0.9%) of closing its entire post-earnings gap up from April 25. During Monday’s trading, Apple’s low (at the open) brought the stock within one point of closing the gap. Click image for a larger view… Source: FreeStockCharts.com The post-earnings gap … Read more
Yelp.com (YELP) is barely a month old as a publicly traded company, but it is already printing a fascinating stock chart. YELP’s IPO was priced at $15, but it opened for trading on March 2nd, 2012 at $22. That day, the stock went as high as $26 before settling at $24.58. After dropping 15% the … Read more