ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Earnings excitement is one casualty of the current selling in the market. Several big cap stocks and multinational companies generated a lot of hype and attention from their earnings results this quarter. A number of those gains have been erased and then some. Four stocks have attracted my particular interest: Apple (APPL) – A market … Read more
Just over a month has elapsed since I concluded that S&P 500 was reaching a short-term bottom but would not challenge its 52-week highs (set in January) for “many months to come.” On Thursday, the S&P 500 printed a new 52-week closing high by one penny. On Friday, the index made a new intra-day high … Read more
Last week produced some ominous chart patterns in important individual stocks. I already covered Google (GOOG) and its rare retest of support at the 50-day moving average (DMA). While I still think GOOG will succeed in its retest in the near-term, I am not so sanguine about other ominous charts. Caterpillar (CAT) survived potential climactic … Read more
Caterpillar, Inc. (CAT) closed out Tuesday’s trading with an impressive 6% gain on volume 58% higher than average. *Chart created using TeleChart: For six weeks, CAT bounced inside a small trading channel as it consolidated impressive gains from the July lows and July’s earnings report. CAT is plowing ahead despite lingering and extremely high skeptical … Read more