ONE-TWENTY TWO: Trading Financial Markets
Since the year 2000, delivering a different narrative for students and fans of financial markets: stocks, options, currencies, Bitcoin, and more…
Stock Market Commentary: A little over a month ago, the prospects of a bottom for this bear market got me a little more interested in individual stocks. Unfortunately, the bear market rubble expanded shortly after that. Amid the rubble are crushed gems and false hopes. These stock charts follow up on my initial reads and … Read more
Stock Market Commentary: With the prospects of a bottom for this bear market, I am getting a little more interested in individual stock narratives. The bear market rubble is extensive. The gems are dispersed across a wide area. These stock charts provide one framework for sifting through the trash and the opportunity. {note: in this … Read more
Stock Market Commentary The S&P 500 (SPY) is a key driver of the stock market’s most predictable pattern. The index’s relentless rise this year has held the majority of the trading action above the 20-day moving average (DMA) (the dotted line in the chart below). Brief dips below the 20DMA set up tests of the … Read more
The Surge The prices of commodities, materials, and their related stocks benefit greatly from the current reflationary macroeconomic environment. One more materials name hit an important milestone this week. Steel company Nucor (NUE) surged right through an all-time high last set in May, 2008. Since last year’s pandemic-drive plunge, NUE has enjoyed its most sustained … Read more
Stock Market Statistics AT40 = 43.5% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 44.9% of stocks are trading above their respective 200DMAsVIX = 25.8Short-term Trading Call: cautiously bearish Stock Market Commentary Tech stocks led the way up, and now they are leading the way down. The top 1% of the … Read more
It was September 17, 2014. Not even a month ago. U.S. Steel (X) enjoyed another gap up just 6 weeks since it printed a 19.4% post-earnings gain. The headline drivers for the latest pop were: 1) a price target boost from Goldman Sachs (GS) from $47 to $58, 2) X’s announcement of strategic business actions, … Read more
(This is an excerpt from an article I originally published on Seeking Alpha. Click here to read the entire piece.) Steel stocks have essentially collapsed during this summer’s severe correction. Some have retested lows going all the way back to March, 2009. The stock market is essentially placing its votes and bets on a double-dip … Read more
Lately, it seems I have been pointing out more and more stocks in breakout formations. It makes the skeptic in me a little wary and nervous, but I will keep rolling with what works. And steel stocks have finally started working over the past month. I have to assume that the market is seeking out … Read more
I have been reporting the breakout of U.S. Steel (X) on twitter since last week, so I thought I would quickly post a chart outlining the case and provide some additional commentary. Like most steel stocks, U.S. Steel has lagged the S&P 500 for most of this year. The stock has churned in a wide … Read more
At the end of December, I suggested that the post-earnings trading in U.S. Steel (X) and Nucor (NUE) would be explosive based upon stealth rallies from the November lows that occurred despite a strong accumulation in puts and shorts on those stocks. On Tuesday, both steel companies delivered disappointing earnings that included cautions regarding continued … Read more