ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The SPDR Gold Trust (GLD) accomplished a major milestone in the past week: it fully reversed its entire post-election loss in what looks like a major breakout. Source: StockCharts.com Speculators have been rushing back to gold likely in anticipation of these much higher prices. Source: Oanda’s CFTC’s Commitments of Traders Since 2008, here are the … Read more
AT40 = 37.1% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 46.7% of stocks are trading above their respective 200DMAs VIX = 11.7 (was as high as 14.3) Short-term Trading Call: neutral Commentary North Korea launched a ballistic missile over northern Japan, bot no fire and fury ensued. What happened … Read more
Currency speculators have not been this bullish on the Mexican peso in about four years. The Canadian dollar (FXC) has enjoyed such bullishness for a year longer. Source for charts: Oanda’s CFTC’s Commitments of Traders I have traded alongside these bulls for several months now, but I decided this week to pull in the reins … Read more
AT40 = 35.8% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 46.9% of stocks are trading above their respective 200DMAs VIX = 11.4 (14.0% decrease) Short-term Trading Call: neutral Commentary Since last Thursday when I lasted posted Above the 40, AT40 (T2108), the percentage of stocks trading above their respective … Read more
AT40 = 45.5% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 53.5% of stocks are trading above their respective 200DMAs VIX = 11.1 (volatility index) Short-term Trading Call: neutral (first day of downgrade) Commentary The stock market had a weak open but a strong close. On the heels of ratcheting … Read more