ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
I clearly took profits on my relief rally trade in iShares Silver Trust (SLV) too early. Source: FreeStockCharts.com While SLV wrestles with resistance at its 50-day moving average (DMA), the silver ETF sits on top of a 7.3% gain since hitting a 15-month low three weeks ago. Given SLV was able to power through the … Read more
A year ago, speculators accumulated net long contracts on gold that exceeded anything seen since at least 2008. Starting in late 2015, silver speculators set several such records with the latest set just three months ago. Now, speculators in gold and silver are in full retreat. Net longs seem headed for zero for both precious … Read more
AT40 = 54.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 56.5% of stocks are trading above their respective 200DMAs VIX = 11.2 (10.8% drop) (volatility index) Short-term Trading Call: neutral Commentary Source: Giphy There are all sorts of nicknames possible for a churning market. In this edition of “Above … Read more
AT40 = 56.7% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 57.5% of stocks are trading above their respective 200DMAs VIX = 10.4 (volatility index) Short-term Trading Call: cautiously bullish Commentary The Federal Reserve gave the permission to the stock market that I awaited…well, sort of. On Wednesday, June 14, … Read more
The trade in silver just got even more interesting. For a few weeks, I wondered aloud why speculators were so stubbornly bullish on the precious metal, especially relative to speculators in gold. In my last post on silver, I noted how speculators were finally beating a hasty retreat. In the latest Commitment of Traders (CoT) … Read more