ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The Avis Budget Collapse In its earnings report last week, Avis Budget Group, Inc (CAR) shined a spotlight on how the trading activity of Pentwater Capital impacted CAR’s share price. During the conference call, the company described how Pentwater created a massive short squeeze. More importantly, the company called attention to Pentwater’s selling. The hedge … Read more
The Market Breadth Summary Stock Market Commentary Last week was bullish, and yet the bearish signal that bothered me early in the year returned. Market breadth flashed bearish even as the S&P 500 and the NASDAQ broke out to all-time highs. This bearish divergence is exactly the setup I did not want to see. The … Read more
The Market Breadth Summary Stock Market Commentary After five straight down weeks, the stock market finally enjoyed an up week. The move looked strong enough to flash key signs of a bottom in the making. The last day of trading for the holiday shortened week was particularly telling. The stock market gapped lower at the … Read more
The stock market in this war-driven sell-off has offered no place to hide except for a few pockets of speculative activity, and Hertz Global Holdings (HTZ) and Avis Budget Group (CAR) have suddenly become meme stocks attracting heavy trading interest. Money is flocking into these stocks, driven by a narrative that travel disruptions are creating … Read more
The Market Breadth Summary Stock Market Commentary The Supreme Court finally issued a judgement on the President’s tariffs enacted under the cover of the International Economic Emergency Powers Act (IEEPA). In a 6-3 decision, the court invalidated the tariffs thus making them illegal. The news came first thing Friday morning and injected a little bit … Read more