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…
Over the last four days, Sunpower Corporation (SWPRa) completed a successful retest of the March lows (intra-day low of $19.70, closing low of $20.91). The next price target is around $26.25 with a close of the gap created by the news of accounting irregularities at its Philippine manufacturing operations. This price level will likely meet … Read more
“Mish” posted the latest chart from the Investor’s Intelligence Survey, and it shows that bulls are back up to 50% and bears have hit a new low for the year at 16%. (You can directly access two years of data using the chart tool at Schaeffer’s Investment Research). He also noted that bears have only … Read more
The weakness in the shares of Research In Motion (RIMM) persists despite the company’s apparent initiation of its share buyback program on November 9, 2009. Two weeks ago, I used intra-day trading action to suggest that RIMM launched its share buyback program. Overall daily volume surged for three days along with price. The stock then … Read more
While Friday’s Dubai-related selling left the S&P 500 flat for the last two weeks, Goldman Sachs (GS) dropped almost 3% and punched a new low for November (see chart below). This new low now places GS in its first short-term downtrend since February/March, and it marks a serious failure from the 50DMA resistance. This downturn … Read more
The stock for Toyota Motors (TM) broke below the key support line of the 200-day moving average today. Since peaking in August, TM has lost 12%. TM now looks poised for a test of the summer’s lows and perhaps even retesting of March price levels. *Chart created using TeleChart: TM is a major component of … Read more
Goldman Sachs (GS) has been a bellwether stock since the November lows. GS displayed relative strength when its March lows remained around 50% higher than the November lows. Since then, GS has followed a strong, upward trendline that led the general stock market before hitting its most recent peak in October. However, in November, the … Read more
When I examined the trading patterns in Google’s stock (GOOG) between earnings reports, I found little consistency for forming a trading strategy. For October’s earnings cycle, I chose to play one of the few promising historical patterns: 67% of the times that GOOG opened up in response to earnings, the maximum close until the next … Read more
RIMM officially began its share repurchase period on Monday, November 9. Since then, the intra-day trading seems to provide evidence that RIMM (or some other large buyer!) has gone to work purchasing shares. The chart below shows a 10-day chart of RIMM with trading broken into 30-minute blocks. The first 30-minutes of trading on Monday, … Read more
For the second straight quarter, Toll Brothers (TOL) provided a preliminary quarterly report that ignited the stock as sales volumes once again surpassed expectations. Robert I. Toll, chairman and CEO, explains: “Our fourth-quarter unit deliveries exceeded the high end of our range of guidance due to the delivery of a higher percentage of our backlog, … Read more
On a strong market day, RIMM opened up over 2% and, at the time of writing, is up over 4% on the day. RIMM’s share repurchase period begins today, and, so far, so good for propping up the stock. Yesterday, I expressed my doubts that RIMM would spend the entire $1.2B that its board authorized, … Read more