ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Apple (AAPL) has had a rough five days. The stock has sold off for five straight days on very high selling volume with losses increasing the last two days. The 9.7% loss pales in comparison to the year-to-date 43% gains. However, this recent selling is just as ominous as the last topping pattern Apple printed … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on March 6, 2012. Click here to read the entire piece.) Google (GOOG) has proven itself allergic to sub-$600 prices. On Tuesday, GOOG dropped as low as $594. But for the third time in three weeks, GOOG managed to close above $600 … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are posted on twitter using the #120trade hashtag) T2108 Status: 83% (overbought day #20) … Read more
This chart review pairs an ugly chart with a blooming one. Japan’s Nikkei stock market index made very little additional progress after the sharp and rapid bounce from the March lows marked a crescendo of panic over the Fukushima Daiichi nuclear catastrophe. On five separate days, the Nikkei survived tests of the closing lows from … Read more
(This is an excerpt from an article I originally published on Seeking Alpha. Click here to read the entire piece.) After discovering that shorts ramped ahead of earnings for Research In Motion (RIMM), I decided to check in again on the short interest in Lender Processing Services (LPS)… {snip} Source: NASDAQ.com So LPS caught bulls … Read more
A friend and I have actively discussed how best to position ourselves for the near-term, bearish risks in the market. As my favorite technical indicator, T2108 – the percentage of stocks trading above their 40-day moving average (DMA), hit oversold territory, he asked my opinion about adding to his SSO put spread. Puts on SSO … Read more
It seems traders in ReneSola (SOL) are moving one step too slowly. Options traders loaded up on Oct 7.5 calls earlier this month, only to be greeted with last week’s news that SOL’s revenues would come in a little light based on weaker than expected pricing. SOL also announced a fresh offering of 14.4M in … Read more