ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
AT40 = 61.8% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 43.0% of stocks are trading above their respective 200DMAsVIX = 12.9 (5-month low)Short-term Trading Call: bearish Stock Market Commentary The stock market’s scramble for support worked last week as buyers and bulls put the bears on notice. However, the rally … Read more
ShotSpotter (SSTI) has taken investors on a wild ride since peaking in September ahead of the big market breakdown in October. The stock made an amazing recovery off the December lows and, at one point, printed a near double. Unfortunately, a secondary offering of stock, priced at $44.90, may have put the lid on the … Read more
AT40 = 54.1% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 38.8% of stocks are trading above their respective 200DMAsVIX = 16.1Short-term Trading Call: bearish Stock Market Commentary The above tweet begins the dilemmas that lay ahead for short-term trading after I first flipped bearish ahead of Thursday’s selling. First, I … Read more
AT40 = 63.3% of stocks are trading above their respective 40-day moving averages (DMAs) (25th overbought day)AT200 = 41.0% of stocks are trading above their respective 200DMAsVIX = 15.7Short-term Trading Call: cautiously bearish Stock Market Commentary The broken record in the stock market finally came to an end. The small nick in the overbought period … Read more
Time for me to buy iPath Bloomberg Cocoa SubTR ETN (NIB) again. NIB gapped down to start the week at least partially on the news of a surplus from the Ivory Coast. From Reuters: Cocoa arrivals at ports in top grower Ivory Coast reached 1.547 million tonnes between Oct. 1 and March 3, exporters estimated … Read more
The Setup Tesla (TSLA) gapped down last Tuesday on the heels of news that the SEC wanted to go after Elon Musk for tweet contempt. Buyers stepped right in, and, with some help from more Musk tweets about imminent news, the stock shot straight up and even broke through converged resistance at 50 and 200-day … Read more
Foot Locker (FL) reported earnings before the market opened on March 1, 2019. The initial reaction to the news was extremely positive: FL gapped up 14.0%. Sellers took over from there and pushed the stock down to a close with a 6.0% gain. The stock still managed to close above its upper Bollinger Band (BB), … Read more
AT40 = 80.0% of stocks are trading above their respective 40-day moving averages (DMAs) (23rd overbought day)AT200 = 45.5% of stocks are trading above their respective 200DMAsVIX = 14.7Short-term Trading Call: neutral Stock Market Commentary And still the waiting game rolls along. News on the US-China trade front generated some excitement to start the week, … Read more
AT40 = 85.7% of stocks are trading above their respective 40-day moving averages (DMAs) (20th overbought day)AT200 = 47.3% of stocks are trading above their respective 200DMAs (4-month high which reverses the October, 2018 breakdown)VIX = 13.5Short-term Trading Call: neutral Stock Market Commentary The waiting game continues within a bullish cloak. An extended overbought rally … Read more
AT40 = 88.1% of stocks are trading above their respective 40-day moving averages (DMAs) (17th overbought day)AT200 = 45.9% of stocks are trading above their respective 200DMAs (4-month high that effectively reverses the October, 2018 breakdown)VIX = 14.9Short-term Trading Call: neutral Stock Market Commentary AT40 (T2108), the percentage of stocks trading above their respective 40DMAs, … Read more