ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Apple, Inc. (AAPL) is now up an incredible 36% for the year. Even more incredible, the stock has spent much of the year rallying in nearly straight lines, straight up. This rally has been so powerful that even the major bearish reversal in mid-February looks like a blip well-contained within a strong uptrend. The small … Read more
Almost two weeks ago, I underlined the case for on-going weakness in the Japanese yen. The U.S. dollar had rallied to 80.60 against the yen (USD/JPY) in almost a straight line. I chose that point to close out my yen shorts to wait for what I thought would be an inevitable pullback from such a … Read more
On a big down day in the general stock market, Zynga (ZNGA) managed to gain a fraction of a percent today. The stock punctured support from the current uptrend line but quickly bounced back. Although the stock now needs to clear fresh all-time highs to invalidate the bearish “abandoned baby top” I pointed out yesterday, … Read more