ONE-TWENTY TWO: Trading Financial Markets
Since the year 2000, delivering a different narrative for students and fans of financial markets: stocks, options, currencies, Bitcoin, and 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: 21% and neutral (ending 2 days of oversold conditions). VIX Status: 22; higher than the start of last oversold period (19). General (Short-term) Trading Call: Hold, assuming trading longs … Read more
The stock market is oversold, so I am hunting for bullish setups in the charts. Apple (AAPL), the iShares MSCI Brazil Index Fund ETF (EWZ), and the iShares MSCI Australia Index Fund ETF (EWA) are a few of the charts that have caught my interest. Apple (AAPL) plunged through dual supports and bounced right back … 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: 19% and day #2 of the current oversold period. VIX Status: 23; the max intra-day high occurred on day #2 of the oversold period, 14% above the highs from … 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: 20% and oversold General (Short-term) Trading Call: Cover more shorts, add more longs Commentary T2108 plummeted to oversold territory. The indicator closed right at 20%. Since the March, 2009 … 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: 26% and neutral (note that since the March, 2009 lows, T2108 has frequently hit bottom around 30%). General (Short-term) Trading Call: Hold. Commentary T2108 popped to 26% on a … 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: 21% and “almost” oversold. General Trading Call: Continue covering shorts. Add more small long positions. Commentary T2108 dropped to 21%, right on the edge of the official 20% oversold … Read more
The recent trading action in Molycorp (MCP) has deeply disappointed MCP bulls. The stock has gone from a bullish technical setup to today’s oversold conditions in the space of two weeks. Inserted into this sell-off was MCP’s move to get a stock offering and convertible deal done. The announcement created a tremendous overhang on the … Read more
(This is an excerpt from an article I originally published on Seeking Alpha. Click here to read the entire piece.) Before Apple (AAPL) reported earnings, I reviewed the tea leaves in the chart guessing that the stock was getting ready to make its next sprint higher despite what looked like increasing distribution in the stock. … 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: 31% and Neutral. General Trading Call: Continue covering shorts. Start adding small long positions. Commentary As I suspected, yesterday’s oversold bounce was short-lived. The selling today was strong, persistent, … 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: 31% and Neutral. General Trading Call: Continue covering shorts. Identify longs for buying IF T2108 gets to official oversold territory at 20% or below. Commentary Today’s obligatory bounce from … Read more