ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The market delivered another tepid response to another stellar earnings report from Intel (INTC). After October’s earnings report, I argued that INTC was hitting peak performance. Trading following that report seemed to support my expectation. Trading after Thursday night’s earnings looks like an exclamation point on what is a potential climactic top in INTC. Prior … Read more
Whenever the market sells off, it is good to track whether the selling marks any change in character in the health of the market. Back in June, the change in character was marked by the deepest oversold conditions since March. Those conditions deepened into July and helped provide the fuel for the next strong leg … Read more
The last hour of trading on Wednesday was marred by swift, high-volume selling, an extremely rare sight in the current market. It seemed to come from “nowhere” but the signs of some kind of reversal have been building in some poor post-earnings trading in many big-cap names. I earlier pointed out that Intel (INTC) seems … Read more
The excitement over Intel’s Q3 earnings report has already worn off. After peaking as high as $21.60 or so in the immediate aftermath of the release (after hours trading), Intel (INTC) dropped as low as $20 today. While this is just a small amount below the pre-earnings close of $20.49, this drop has still created … Read more
Intel (INTC) delivered a stellar earnings report Tuesday evening with revenues and margins that beat expectations. However, do not expect an encore in the near-term because INTC’s historical performance suggests this may be as good as it gets for a while. Q3 revenues were $9.4B with consensus expectations for $9.04B. The 17% sequential growth in … Read more