ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
When Shutterfly (SFLY) reported earnings on April 30th, the company provided guidance for a larger Q2 loss than analyst expectations. Despite this disappointment, the stock opened the next day with an amazing 9% gain. Unfortunately, trading has been all downhill from there. SFLY closed the day losing all its gains, and it was even trading … Read more
After reporting earnings on the evening of April 24, Baidu (BIDU) dropped 10% or so in after-hours trading. By the time time trading opened the next day that loss was cut to just 4.5%. At the highs of that day, BIDU actually managed to recover all its post-earnings losses. I typically characterize such a recovery … Read more
Two weeks ago, Yelp.com (YELP) confirmed its blow-off top with a break of critical support (see “Chart Review: Yelp.com Confirms Blow-Off Top With A Break Of Support“). That support immediately turned into resistance. After dropping close to post-IPO lows, YELP bounced, only to stop cold at resistance. After reporting earnings, YELP dropped 12% directly from … Read more
Yelp.com (YELP) is barely a month old as a publicly traded company, but it is already printing a fascinating stock chart. YELP’s IPO was priced at $15, but it opened for trading on March 2nd, 2012 at $22. That day, the stock went as high as $26 before settling at $24.58. After dropping 15% the … Read more
The last time Caterpillar, Inc. (CAT) failed a retest of all-time highs was in the middle of 2008. The stock broke down in June and it was mostly downhill from there for another year. On Tuesday, March 6th, Caterpillar confirmed another failed retest of an all-time high by breaking down below its 50DMA. Source of … Read more