Hibbett Sports: Anatomy of A Stock’s Bullish Breakout

On June 25th, call options in sportings goods retailer Hibbett Sports (HIBB) sprang to life. At the time, around 1500 October $22.50 calls traded versus 0 open interest. On June 29th, open interest climbed above 2500. For context, HIBB options are sparsely traded. The second highest open interest sits with the Jan 15 ’21 calls … Read more

Above the 40 (March 22, 2019) – Tension Headache: Dovish Fed Fails to Keep Market Complacent to Risks

AT40 = 45.4% of stocks are trading above their respective 40-day moving averages (DMAs) (2+ month low)AT200 = 38.8% of stocks are trading above their respective 200DMAsVIX = 16.5 (20.9% gain)Short-term Trading Call: bearish Stock Market Commentary Friday’s trading action provided delayed confirmation of my short-term bearish trading call. The week previous to the last, … Read more

Above the 40 (August 24, 2018) – S&P 500 Historic All-Time High Shines Cautious Light On Opportunities

AT40 = 60.5% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 58.2% of stocks are trading above their respective 200DMAs VIX = 12.0 Short-term Trading Call: neutral Commentary Last week the stock market made history by delivering the longest bull market in history. Tonight on Nightly Business Report, markets are … Read more

Above the 40 (November 17, 2017) – The Stock Market Sharply Switches to A Bullish Divergence

AT40 = 47.9% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 54.6% of stocks are trading above their respective 200DMAs VIX = 11.4 Short-term Trading Call: cautiously bullish Commentary The S&P 500 (SPY) failed to follow-through on Thursday’s snapback rally, but a bullish divergence kept the short-term prospects looking good. … Read more