ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Harbalife (HLF) is on the verge of a major breakout. The stock gained another 2.5% on Friday to close at $55.80, just below the intraday high from July 31, 2012. The charts below show over a year’s worth of trading. The next chart zooms in a little so that you can read the notes I … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on February 17, 2013. Click here to read the entire piece.) Friday’s trading in Herbalife (HLF) after Carl Icahn filed SEC documents announcing his 13% stake was a microcosm of how to trade the HLF drama: play the extremes. {snip} Click for … Read more
In “A Trading Plan For Herbalife: A Pullback Likely Before A New Trading Range“, I used options trading and presumed resistance at the 50-day moving average (DMA) to estimate that this week would finally mark a pullback in Herbalife (HLF) shares. Instead, HLF punched right through 50DMA resistance on Monday (Jan 14) and in just … Read more