ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The recovery from the post-earnings dip in July is officially complete for Apple (AAPL). On Monday, August 6th, AAPL broke out from a short trading range defined at the bottom by the psychologically important $600 level and at the top by the April post-earnings high. This breakout symbolizes the neutralization of whatever worries prevented buyers … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on July 29, 2012. Click here to read the entire piece.) {snip} Like all companies with extensive international presence, Apple took a hit from the strong dollar (UUP)… {snip} Apple appears to expect continued strength in the U.S. dollar as the company … Read more
Apple (AAPL) filled last week’s post-earnings gap in just four days. As discussed in “Apple’s Important Macro And Forex Calls And Likely Post-Earnings Recovery,” AAPL’s historical performance suggested a near certainty that this gap would get filled BEFORE the next earnings report. I gave a 50/50 chance on whether the gap would get filled in … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on July 22, 2012. Click here to read the entire piece.) With an increasingly dour macro-economic backdrop, one might expect a very large response to Apple’s July earnings report {snip}… However, the trading action going into Tuesday evening’s earnings report was very … Read more
In about one month, Yelp.com (YELP) doubled from its all-time lows to a retest of its all-time highest close. Along the way, Apple (AAPL) made the following announcement on June 11th: “…local search includes information for over 100 million businesses with info cards that offer Yelp ratings, reviews, available deals and photos.” YELP did not … Read more
On Friday, Apple (AAPL) closed at its highs for the day and highs for the week. This has not happened since April 5th (holiday-shortened week) with AAPL a day away from its last all-time closing high. For about the next six weeks Apple sold off almost every day with one important post-earnings pop that delivered … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are posted on twitter using the #120trade hashtag) T2108 Status: 22.5% (Last oversold period … Read more
It seems Friday’s stalemate was indeed a demonstration of Apple buyers finally putting up a fight. Apple’s stock is still in a short-term downtrend, but the trading action has been electrifying almost the entire way down. The wild swings and near symmetry of the move downward are the kind of “art” that only a chart … Read more
After gaining as much as 55% this year, sellers have peeled Apple (AAPL) back to a year-to-date gain of 31%. Certainly much better than the average stock, but it still represents a large loss from the highs. An index that falls this much from highs is considered to be in a bear market! In my … Read more
On Friday, May 4, Apple, Inc. (AAPL) essentially filled its post-earnings gap up. It took another week for AAPL to retest support that had held in the days before earnings. The selling into that test formed a downtrend in April that Apple has yet to shake. This downtrend has been so persistent that Apple has … Read more