Monthly Archives: December 2014

Showing articles 1 - 10 (153 total)

31Dec3:10 pmEST

Reflecting on a Solid Year

On the whole, I am pleased with my trading this year. If you have been following my work, then you know that I have been more defensive - in my trading portfolio - than usual for a good while now, opting to take an opportunistic, hit-and-run style of trading in lieu of aggressively pushing all-in. Although the major averages are closing out...

31Dec2:08 pmEST

A Big Battle for the New Year

Within the consumer discretionary space we have a big battle brewing into 2015. On the one hand, casual dining and restaurant plays have largely been impressive to close out 2014. On the other hand, major casinos have noticeably been weak. Specifically, the charts of WYNN and DFRG illustrate these points, seen on their respective charts, below....

31Dec12:18 pmEST

Sailing Into 2015

NILE is a name we have been looking at on the long side since mid-November. The retail play could easily be ripe for a squeeze into next week, as it has been consolidating just under $37 for a good while now. On the updated daily chart, below, note the basing pattern (purple lines) under well-defined resistance (light blue line). The chart...

31Dec10:49 amEST

The Shift to Electronic Health

The secular movement from written to electrical medical records remains very much intact, with CERN leading the chart, seen on the first daily chart, below, basing in an uptrend. In addition, we know that large MRGE is a smaller player with impressive strength of late, contending with the key $3.63 level now. Moreover, another play worth...

30Dec5:21 pmEST

Stock Market Recap 12/30/14 {Video}

COMING SOON to MarketChess.com: Subscription Services to Take Your Trading to the Next Level; and A Full MarketChess.com Website Redesign I am very pleased to announce that the first few months of 2015 will feature some exciting changes to this website, especially the premium offerings I have planned for traders who are serious about learning...

30Dec3:46 pmEST

Secret Signs Across Many Markets

As a quick update to yesterday's blog post, Russia is bouncing back from the apparent breakdown. As I noted, it is going to be key to see if crude oil and Russia sport "bear traps," or false breakdowns. On the updated RSX daily chart, below, the country ETF, note Russia initially failing to hold under the key $15 level. If bulls can hold these...

30Dec3:38 pmEST

My Portfolio, Please Step Into My Office; Chess Moves

"Youah fiyhad!" Headed into the last day of 2014, I am not impressed with my portfolio holdings. They are not cratering on me, but they are taking too long to get moving in my direction. So I decided to fire them and move to 100% cash. Thus, I covered UNP for a small loss, sold my TBT long for a small win on my core entry, and sold UGAZ for a...

30Dec2:25 pmEST

A Mixed Bag of Popcorn; Chess Moves

I sold my CORN long at $27.20 here, from the $27.25 entry I noted in this post , for basically scratch. The corn long, as usual, took its time to get going but could not hold over $27.70 to sustain any kind of upside traction. So, into the New Year I am lightening up the sluggish positions and possibly revisit them if they gain back their...

30Dec12:42 pmEST

Shooting for the Century Mark

With casual dining plays still acting well, overall (just see FRGI on the second daily chart, below, a name we have looked at many times), premier oven maker MIDD remains a long candidate related to the industry. On the first daily chart, note the orderly basing pattern in an uptrend. $100 sure seems like a classic big round number for longs to...

30Dec11:18 amEST

Looking Less Neutral

Another round of resilience for precious metals and miners' bulls has my eye this morning. Recently, apparent breakdowns in the gold and silver complex, along with their derivative miners, have failed to come to fruition as buyers have stepped in to stem the tide. Specifically, I am keying off GDXJ, the junior gold miner ETF, and SLV, the...

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