ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
(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. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are posted on twitter using the #120trade hashtag) T2108 Status: 69% (ending 43 days … Read more
Zynga (ZNGA) has established itself as a resilient IPO so far. After an IPO on December 16, 2011 at $10/share, an open at $11, and a high of $11.50, ZNGA quickly sold off as low as $7.97 on January 9, 2012. From there, the stock rallied in almost a straight line, receiving a turbo boost … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on February 21, 2012. Click here to read the entire piece.) Congratulations to everyone who took on the post-earnings trade on Amazon.com (AMZN). Hopefully, you have locked in your profits by now given the 2-week timeframe for the trade. It is now … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on March 4, 2012. Click here to read the entire piece.) Right after I last updated the gold enthusiasm index last July, gold went near parabolic and peaked in about two months. In that post, I wrote that enthusiasm for gold continued … 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. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are posted on twitter using the #120trade hashtag) T2108 Status: 71% (overbought day #42) … Read more
Every now and then I see a chart that undermines my expectation for an imminent pullback in the general market. This time, Goldman Sachs (GS) delivered the reluctant surprise. Today, the stock surged 5.2% to fresh 6-month highs. Source: FreeStockCharts.com This is what I had to say about GS in late January during a comprehensive … 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. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are posted on twitter using the #120trade hashtag) T2108 Status: 75% (overbought day #40) … Read more
On Tuesday (February 28), the British pound finally broke out against the U.S. dollar with a resounding surge above its 200-day moving average (200DMA). The struggle to break this resistance lasted the entire month of February. Despite this technical breakthrough, I remain skeptical that the British pound will deliver much follow-through before faltering again. Indeed, … 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. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are posted on twitter using the #120trade hashtag) T2108 Status: 80% (overbought day #39) … Read more
February 15 was a day noted around the world: Apple (AAPL) made a major bearish reversal that even non-technicians could appreciate for its fury. Here is the chart I produced on that fateful day: The tremendous surge in trading volume was a 13-month high and followed the S&P 500 down for the day – adding … Read more