ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
In the past two years or so, I have often marveled at how differently the U.S. markets react from Asian and European markets when it comes to “bad” news released overnight (Eastern time). I do not yet have formal data or analysis, but I wanted to share some informal, personal observations. During the market recovery … Read more
First Solar (FSLR) reports earnings tonight, and short interest is at a record high. Data from nasdaq.com. Latest update January 29, 2010 This short interest represents about 36% of FSLR’s float. Toss in negative news flow and for the first time in a long time, negativity is running extremely high going into FSLR’s earnings. As … Read more
The S&P 500 is now over 4% off the lows from oversold conditions. 40% of this entire move came on today’s surge as the dollar plunged over 1% versus the euro. The thrills occurred DESPITE poor news flow from the Greek sovereign debt drama: for example, imminent strikes to protest austerity measures and German hesitancy … Read more
Research In Motion (RIMM) is riding a bit of upward momentum into this week’s Mobile World Congress conference in Barcelona. The chart below shows that RIMM has broken above the 200-day moving average (DMA) on above average volume. If RIMM finally breaks the $72 resistance line, it could run up relatively quickly to fill September’s … Read more
On January 28, QUALCOMM (QCOM) disappointed the market by guiding earnings and revenue expectations down for its fiscal second quarter (pro forma EPS of $0.49-0.53 vs. $0.57 consensus and $2.4-2.6B in revenue vs. $2.75B consensus). The stock closed down 14% on the day on over 6x the 3-month average volume. This surge of selling represented … Read more