ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The post-earnings selling in Intel (INTC) has become uncanny in its consistency. Four out of the last six earnings reports have resulted in selling even as INTC’s headline earnings news has generally been OK to good. Three of the four bouts of selling followed immediately after INTC opened its first post-earnings trading day higher. This … Read more
A fresh buying opportunity may finally be unfolding in the solar sector. In Tech Trader Daily on Friday, Eric Savitz broke news that the U.S. government is launching an official investigation into alleged unfair trade and investment practices by the government of China in green technologies. Across the board, solar stocks were slammed in reaction … Read more
The S&P 500 is now just 5% away from its 52-week highs has remained aloft at overbought levels for 23 straight trading days. T2108, the percentage of stocks trading above their respective 40-day moving averages (DMAs) is trading at 86% and is well above the 70% threshold for overbought conditions. It has even traded above … Read more
After solar stocks soared in September, expectations are riding high for solar companies to carry their earnings momentum from the second quarter’s reports into the third quarter’s reports. First Solar (FSLR) made a big step in the right direction by announcing that it received an additional 380 Megawatt in orders from existing customers for delivery … Read more
Short interest in Cisco (CSCO) surged near 52-week highs at the end of August. At the time I noted this move, CSCO had bounced off its 52-week lows, and I suggested it would be a long if it could set a fresh high on the month. CSCO accomplished that move later in the day. I … Read more