ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
July has continued a healthy recovering from the June lows for many stocks. However, some stocks have remained stuck in stock market purgatory. Today’s chart review shows two examples of this dichotomy. The extra bonus is that the stock in recovery mode, Caterpillar (CAT), has apparently topped while the stock stuck in purgatory, LDK Solar … Read more
(This is an excerpt from an article I published on Seeking Alpha. Click here to read the entire piece.) Silver failed at its 50-day moving average (DMA) resistance in spectacular fashion. Silver dropped 9% and gave up almost its entire gain from the previous three-day relief rally. Source: stockcharts.com As I mentioned in my previous … Read more
A week ago I used F5 Networks (FFIV) as a model to suggest that Finisar (FNSR) and JDS Uniphase (JDSU) showed some promise to bounce from critical support levels. I drew out the specific price points at which buys made sense and included some stops. The promise quickly led to a letdown as both FNSR … Read more