ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Speculative stocks typically get hit the hardest during corrections in the stock market, and solar stocks definitely qualify for a beating. In the past 4 days of selling, TAN, the Claymore/MAC Global Solar Energy Index, is already down 10%. Solar stocks have been big laggards this year as TAN is now back to even on … Read more
It turns out that the lower lows I noted in T2108, the percentage of stocks that are trading above their 40-day moving averages (DMAs), were indeed leading to at least one more lower low. T2108 fell dramatically today, from 48% yesterday to 23% today. This breaks the July lows as well as the series of … Read more
The last hour of trading on Wednesday was marred by swift, high-volume selling, an extremely rare sight in the current market. It seemed to come from “nowhere” but the signs of some kind of reversal have been building in some poor post-earnings trading in many big-cap names. I earlier pointed out that Intel (INTC) seems … Read more
The excitement over Intel’s Q3 earnings report has already worn off. After peaking as high as $21.60 or so in the immediate aftermath of the release (after hours trading), Intel (INTC) dropped as low as $20 today. While this is just a small amount below the pre-earnings close of $20.49, this drop has still created … Read more
I have not reviewed T2108, the percentage of stocks trading above their 40-day moving average (DMA), or its close cousin T2107, the percentage of stocks trading above their 200-day moving average, since late April (click here for the review). For most of the intervening weeks and months, the message has remained the same: over-bought and … Read more