ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Google (GOOG) has had a rough 2010. While the NASDAQ is up 1% for the year, GOOG is down 10%. Buyers have finally flocked to GOOG in the past week as the stock hit oversold levels, and the stock has perked up for the first time in 2010. (GOOG was one of several stocks I … Read more
Major resistance has broken and trends are turning back up on the major indices, so it is time to consider more seriously the prospect of the market printing fresh highs on the year sooner than later. Yesterday, I examined Cummins (CMI) as one of several stocks that may indicate the market has sufficient buying power … Read more
Ever since I speculated that the market had finally reached a (near-term) top in January, I have been tracking signals confirming this top. Every once in a while, I stumble upon a significant stock that flashes a contrary sign and gives me pause. Cummins, Inc. (CMI) is a company with such a stock. Cummins, Inc. … Read more
Now we know the source of some of this week’s selling pressure in First Solar’s stock. Michael Ahearn, former CEO and current Executive Chairman, dumped $142.1M in company stock between the 22nd and 24th. He sold another $20.7M on the 25th and 26th. However, the good news is that on Friday two First Solar (FSLR) … Read more
The drama with Toyota (TM) has intensified this week with sharp and skeptical Congressional scrutiny. I have been impressed at how (relatively) well Toyota’s stock has held up through the negative news flow. As Toyota’s president Akio Toyoda pleaded for mercy on Wednesday – “My name is on every car…You have my personal commitment that … Read more