Shake and Bake Does A Bottom Make – Above the 40 (February 28, 2020)

AT40 = 7.0% of stocks are trading above their respective 40-day moving averages (DMAs) (oversold day #3, dropped as low as 5.1%)AT200 = 21.4% of stocks are trading above their respective 200DMAs (13-month low, dropped as low as 17.8%)VIX = 40.1 (was as high as 49.5%)Short-term Trading Call: bullish Stock Market Commentary Oversold I had … Read more

Icahn Lights A Fire of Hope Under Netflix

Suddenly, I have to take an acquisition of Netflix (NFLX) a little more seriously. At the end of October, iconic deal shaker and maker Carl Icahn disclosed an almost 10% stake of 5,541,066 shares in Netflix (NFLX), indicating HE thinks NFLX is deal-making material. From the filing under “Purpose of Transaction”: “The Reporting Persons acquired … Read more

Chart Review Update: Netflix Surge Closes Post-Earnings Gap Down

Just last week, I noted how Netflix (NFLX) neatly confirmed a bearish abandoned baby top with another earnings implosion. However, I did not discuss in more detail the implications of the stock’s strong bounce from its lows on the day although I tweeted about it. The following day, NFLX had a strong day marginally closing … Read more

Assorted Thoughts and Trades for September 25, 2009

Today has been a wild day in the financial markets, and I almost hesitate to jot down my thoughts before the close of trading. However, I will be shutting things down to get the weekend started as soon as possible, so I am writing now while thoughts remain fresh. There is no one theme I … Read more