Carter Worth: Difference between revisions
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Worth rose to prominence with several well timed market calls the most noteworthy being one of the first analysts in print to call the beginning of the bear market on November 9, 2007.<ref>https://www.bloomberg.com/news/2010-08-10/s-p-500-direction-is-coin-toss-for-oppenheimer-s-technical-analyst-worth.html</ref> |
Worth rose to prominence with several well timed market calls the most noteworthy being one of the first analysts in print to call the beginning of the bear market on November 9, 2007.<ref>https://www.bloomberg.com/news/2010-08-10/s-p-500-direction-is-coin-toss-for-oppenheimer-s-technical-analyst-worth.html</ref> |
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As with all stock analysts, Worth does not have a perfect record of timing stock price moves. As an example, his March 19, 2018 market call on [[Oracle Corporation|Oracle]] was incorrect. In a CNBC report published hours before the announcement, Worth says "I love it. I want to be long Oracle going into its earnings. The charts speak for themselves." However, in after-hours trading following the announcement, Oracle's shares declined from 51.95 to 48.40, a drop of 6.83%.<ref>https://www.cnbc.com/2018/03/19/i-love-the-chart-of-oracle-heading-into-earnings-says-top-technician.html</ref> The stock declined further over the next month to close at $44.06, on June 29, 2018. |
As with all stock analysts, Worth does not have a perfect record of timing stock price moves. As an example, his March 19, 2018, market call on [[Oracle Corporation|Oracle]] was incorrect. In a CNBC report published hours before the announcement, Worth says "I love it. I want to be long Oracle going into its earnings. The charts speak for themselves." However, in after-hours trading following the announcement, Oracle's shares declined from 51.95 to 48.40, a drop of 6.83%.<ref>https://www.cnbc.com/2018/03/19/i-love-the-chart-of-oracle-heading-into-earnings-says-top-technician.html</ref> The stock declined further over the next month to close at $44.06, on June 29, 2018. It took until September 2018 for Oracle to recover its stock price losses and climb back above $51.00 per share. Of note, however, Oracle closed at $55.61, per share on April 26, 2019—up over 6.7% from Worth's initial $51.95, call<ref>https://finance.yahoo.com/quote/ORCL/history.html</ref> and, by May of 2021, closed at $78.83 – more than 50% above its March 19, 2018, close. |
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By contrast, on March 9, 2018, Worth made the case for trouble ahead for [[Facebook]] shares, citing poor price action relative to the market and to its peers.<ref>https://www.cnbc.com/video/2018/03/09/it-might-just-be-time-to-unfriend-facebook-technician.html</ref> At the time, FB was trading at $185.23/share. Soon after, the news of Facebook's involvement in the [[Facebook–Cambridge Analytica data scandal|Cambridge Analytical scandal]] surfaced, with shares plummeting to $159.39 by March 23, 2018.<ref>https://www.marketwatch.com/story/facebook-valuation-drops-75-billion-in-week-after-cambridge-analytica-scandal-2018-03-23</ref> |
By contrast, on March 9, 2018, Worth made the case for trouble ahead for [[Facebook]] shares, citing poor price action relative to the market and to its peers.<ref>https://www.cnbc.com/video/2018/03/09/it-might-just-be-time-to-unfriend-facebook-technician.html</ref> At the time, FB was trading at $185.23/share. Soon after, the news of Facebook's involvement in the [[Facebook–Cambridge Analytica data scandal|Cambridge Analytical scandal]] surfaced, with shares plummeting to $159.39 by March 23, 2018.<ref>https://www.marketwatch.com/story/facebook-valuation-drops-75-billion-in-week-after-cambridge-analytica-scandal-2018-03-23</ref> |
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Revision as of 06:53, 26 May 2021
Carter Braxton Worth | |
|---|---|
| Born | June 15, 1966 |
| Nationality | United States |
| Occupation | Financial analyst |
Carter Braxton Worth (born June 15, 1966) is an American financial analyst and stock market strategist. He is a seven-time member of institutional investor's All America Research Team. He was most recently voted #1 in the 2017 Institutional Investor vote, and has ranked in one of the top three positions in the past seven years. Carter is married to Andrée Jill Finkle (January 13, 2007).[1]
Worth's weekly market commentary "Money in Motion" is known for its utilization of the "150-day moving average".[2]
Early life and career
Worth graduated from Boston University with a degree in International Relations.
Worth began his career as a fundamental analyst at Value Line.[1] He began his work in technical analysis at Donaldson, Lufkin & Jenrette under the tutelage of Vincent Boening.[3] He joined Oppenheimer & Co. in 2005 and departed in early February 2014. As of April 2015 Carter is the Chief Market Technician at Cornerstone Macro [4] Carter appears regularly on CNBC.
Market calls
Worth rose to prominence with several well timed market calls the most noteworthy being one of the first analysts in print to call the beginning of the bear market on November 9, 2007.[5]
As with all stock analysts, Worth does not have a perfect record of timing stock price moves. As an example, his March 19, 2018, market call on Oracle was incorrect. In a CNBC report published hours before the announcement, Worth says "I love it. I want to be long Oracle going into its earnings. The charts speak for themselves." However, in after-hours trading following the announcement, Oracle's shares declined from 51.95 to 48.40, a drop of 6.83%.[6] The stock declined further over the next month to close at $44.06, on June 29, 2018. It took until September 2018 for Oracle to recover its stock price losses and climb back above $51.00 per share. Of note, however, Oracle closed at $55.61, per share on April 26, 2019—up over 6.7% from Worth's initial $51.95, call[7] and, by May of 2021, closed at $78.83 – more than 50% above its March 19, 2018, close.
By contrast, on March 9, 2018, Worth made the case for trouble ahead for Facebook shares, citing poor price action relative to the market and to its peers.[8] At the time, FB was trading at $185.23/share. Soon after, the news of Facebook's involvement in the Cambridge Analytical scandal surfaced, with shares plummeting to $159.39 by March 23, 2018.[9]
References
- ^ a b https://www.nytimes.com/2007/01/14/fashion/weddings/14finkle.html
- ^ https://www.cnbc.com/id/41157529
- ^ "Archived copy". Archived from the original on 2010-08-11. Retrieved 2010-09-27.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ http://old.cornerstonemacro.com/carter-worth/[permanent dead link]
- ^ https://www.bloomberg.com/news/2010-08-10/s-p-500-direction-is-coin-toss-for-oppenheimer-s-technical-analyst-worth.html
- ^ https://www.cnbc.com/2018/03/19/i-love-the-chart-of-oracle-heading-into-earnings-says-top-technician.html
- ^ https://finance.yahoo.com/quote/ORCL/history.html
- ^ https://www.cnbc.com/video/2018/03/09/it-might-just-be-time-to-unfriend-facebook-technician.html
- ^ https://www.marketwatch.com/story/facebook-valuation-drops-75-billion-in-week-after-cambridge-analytica-scandal-2018-03-23