Chess Moves

Showing articles 41 - 60 (182 total)

25Mar10:38 amEST

Trim Those Buns of Steel; Chess Moves

I sold half of my X long here at $25.40 from the $24.24 entry on Monday to scale partial gains. I also moved my stop-loss up to my entry to protect the position.  As you can see on the updated daily chart, U.S. Steel is hitting up through its upper Bollinger Band after good action this week. The stock is now short-term overbought and at a good...

24Mar1:35 pmEST

Courting the Financials; Chess Moves

In addition to top XLF component Berkshire Hathaway flashing weakness today (seen below on daily chart threatening descending triangle breakdown), large banks such as BAC C JPM are also weak. In addition, the major credit card players are lagging the tape.  Thus, I am taking a shot on the short side against the sector as a whole. I went long...

23Mar3:39 pmEST

Back in the Game; Chess Moves

After flattening out late on Friday, as noted in a blog post before the closing bell, I am back in the game with three trades into the bell today. I went long X at $24.24, playing the steel for a short squeeze higher from beaten-down conditions. My stop-loss is a daily close below $23, though I may cut sooner as I am looking for an imminent...

20Mar3:50 pmEST

Come Back Next Week for a New Season: Chess Moves

Into the weekend, I am calling a last-minute audible here and moving to 100% cash. Overall, I had a pretty good week, grinding out wins and cutting losers to contain them without no major gaps against my favor.  As spring commence, I want a clean slate and an open mind to fresh positions next week. I will update the numbers, but here is the...

20Mar11:43 amEST

Mixed Trades; Chess Moves

A winner and a loser here. I sold half of my JO coffee long above $25.20 earlier from my $24.07 to lock in partial gains, trailing my stop to entry on the final half of the position. And I covered my HD short for a loss at $117.66 from my $113.85 for a contained loss. Shorting the steep trends like HD LOW SHW continues to be fruitless. But as...

20Mar10:20 amEST

Locking in Methodical Gains; Chess Moves

I just sold half of my NUGT long just now at $11.04 from my $10.25 entry earlier this week noted  in this blog post . My stop-loss is still below $9.75.  After a pause yesterday, miners are pushing higher along with equites in general this morning. There might be some more juice left in the tank, but the volatility in the metals and mining...

19Mar3:36 pmEST

Betting on an Imminent Squeeze; Chess Moves

As a follow-up to my last post regarding the biotechnology stocks, I just went long INSY at $60.99 with a stop-loss below $56.50. I am playing for am imminent breakout higher in this extremely heavily-shorted bio.  On the daily chart, below, note the basing formation in an established prior uptrend. If biotechs continue to enjoy this upside...

18Mar3:11 pmEST

Probing the Reaction with Patience; Chess Moves

I just went long NUGT at $10.25 with a protective stop-loss below $9.75, playing the gold miners via this triple-long ETF (derived from the GDX ETF) for a rally.  Playing the initial reaction to a major "Fed Day" can always be tricky. But so far it looks as though the Dollar's weakness is leading to strength in commodities.  To be sure, gold...

18Mar12:54 pmEST

The Triumvirate of Steep Trends; Chess Moves

I just went short Home Depot (HD) at $113.85 with a cover-stop above $118, playing for the long-term steep trend to finally crack. Today, peers LOW and SHW, comprising the three-headed monster or triumvirate of very steep long-term winners in the housing retail space, are showing notable weakness after their latest post-earnings pushes higher. ...

17Mar3:52 pmEST

Toughness on the Irish Holiday; Chess Moves

I decided to cut my GPRO long at $40.60 from the $41.01 entry this morning for the 1% loss, rather than swinging it. GPRO is still in a fierce downtrend and I am going to stick to my discipline of not swinging it without at least some profit cushion.  I took profits in most of my GOGO long today for a nice win, and will let a final small piece...

17Mar12:55 pmEST

Taking in More Green on a Green Holiday; Chess Moves

i just sold another piece of my GOGO long at $21.69 from the $19.93 entry last week. I am taking advantage of more intraday strength in the name, in the face of a red market, since I took initial gains  this morning here .  I am now down to about 25% size of original position, with my stop-loss raised to my entry price.  As for new ideas, I...

17Mar11:17 amEST

Making More Trades; Chess Moves

My short book currently consists of AXP and GOOGL, as I believe both positions are intact for my thesis. And I just added to the short side of my book by going short Visa at $266.44 with a protective cover-stop over $280. This is a 4% portfolio position, and I am playing for the largest Dow Jones Industrial Average component to break down a...

17Mar10:29 amEST

Operation Dinner Out is a GoGo; Chess Moves

I just sold half of my GOGO long here at $21.33 from my $19.93 entry last week noted in real-time in this blog post , in order to scale partial profits.  I moved my protective stop-loss up to my entry price, in order to protect the rest of the gains, thus far.  The stock is moving nicely, despite broad market weakness this morning and recent...

16Mar2:29 pmEST

Sidestepping Danger; Chess Moves

I played TSLA on the short side earlier this year for a nice win. But I did so knowing full well the risks involved in playing a momentum darling with a charismatic CEO, not to mention a company with a cult following and a heavily-shorted stock.  While that trade worked out, it looks like this one will not. Given today's move higher after CEO...

16Mar11:50 amEST

Probing a Coffee Long; Chess Moves

I just went long JO, the ETN for coffee, at $24.07 with a protective stop-loss $22.60.  As I discussed earlier this morning, coffee is outperforming virtually all commodities today. It has been disappointing after a promising first week of 2015.  Still, seasonal trends are favorable and the technical setup on the daily chart, below, is for...

16Mar11:21 amEST

Squaring Up Before a Big Match; Chess Moves

I just covered up the final piece of my LVS short for a win, and my UAL short for a loss.  After scaling on the way down, casinos may finally be ripe to bounce this week. Either way, the risk is too high for a sharp snapback rally in the likes of LVS WYNN here for my taste. Thus, I covered the final 10% position size in my LVS short at $52.92...

13Mar3:19 pmEST

Pressing a Bet; Chess Moves

I added to my open GOOGL short here at $551.18, pressing the bet for further weakness next week.  My original entry was noted here  earlier this week at $557.15 with a cover-stop over $585.  My cover-stop remans the same, and the position now equates to roughly 6% of my portfolio capital.  The bear thesis of a weekly topping pattern is still...

13Mar11:07 amEST

This Trade is a Contender Now; Chess Moves

I just went short AXP at $80.07 with a cover-stop over $84 on a daily closing basis. This position equates to roughly 4% of my portfolio capital. AmEx is a name I have charted extensively as a bearish confirmed top for a while now. And after a snapback rally I am simply playing for that top to continue to force the issue lower.  I will present...

12Mar3:44 pmEST

Long Gogo Into the Bell; Chess Moves

Into the closing bell, I went long GOGO at $19.93 for a daily chart bull flag/short squeeze breakout. My stop-loss is under $19.  GOGO is a heavily-shorted stock, and for good reason--The in-flight WiFi firm was smashed after is IPO last year. But not it may be trying to come back to life.  And the daily chart indicates as much, with a bull...

12Mar3:15 pmEST

Covering Up Some Late-Winter Laggards; Chess Moves

Staying true to my word, I am going to ditch a few of my holdings in order to either lock in wins, prevent winners from turning into losers, or keep losses small.  Specifically, I covered my CMG short at $669.64 from my entry of $660.16 for a loss. I would rather step aside here than risk the name drifting up on me without a profit cushion....

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