ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
(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.) T2108 Status: 21% and “almost” oversold. General Trading Call: Continue covering shorts. Add more small long positions. Commentary T2108 dropped to 21%, right on the edge of the official 20% oversold … Read more
The recent trading action in Molycorp (MCP) has deeply disappointed MCP bulls. The stock has gone from a bullish technical setup to today’s oversold conditions in the space of two weeks. Inserted into this sell-off was MCP’s move to get a stock offering and convertible deal done. The announcement created a tremendous overhang on the … Read more
(This is an excerpt from an article I originally published on Seeking Alpha. Click here to read the entire piece.) Before Apple (AAPL) reported earnings, I reviewed the tea leaves in the chart guessing that the stock was getting ready to make its next sprint higher despite what looked like increasing distribution in the stock. … 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.) T2108 Status: 31% and Neutral. General Trading Call: Continue covering shorts. Start adding small long positions. Commentary As I suspected, yesterday’s oversold bounce was short-lived. The selling today was strong, persistent, … 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.) T2108 Status: 31% and Neutral. General Trading Call: Continue covering shorts. Identify longs for buying IF T2108 gets to official oversold territory at 20% or below. Commentary Today’s obligatory bounce from … Read more