Chess Moves

Showing articles 61 - 80 (182 total)

12Mar2:18 pmEST

Shifting Gears; Chess Moves

I covered the rest of my FB short, just now at $78.78 from my $80.19 posted entry and rolled that money over to a new TSLA short at $190.88. I had previously scaled half of the FB short here at $77.88 . While FB may just be getting started in terms of rolling over, I am seeing more relative weakness today out of TSLA. And I know I can always...

11Mar3:34 pmEST

Going After Google; Chess Moves

I went short GOOGL at $557.15 with a cover-stop over $585. Playing for the right shoulder of a weekly topping pattern. This short position amounts to roughly 4% of my trading portfolio capital.  The theory behind the trade is that Google has just staged a snapback rally after being a notable laggard for quite some time.  This rally has excited...

11Mar1:47 pmEST

I Think I Want My Money Back; Chess Moves

I covered more of my LVS short here, at $51.82, from my $55.34 entry to scale even more gains.  As you know, I have been trimming this winner along the way, as it slides down.  I now retain about 10% of my original position, letting ride, so to speak, to see if casinos truly do wipe out.  My cover-stop is still at my entry...

11Mar10:29 amEST

Half Off of the Big Cat; Chess Moves

I covered half of my CAT short here at $79.46 from the $83.03 entry a few weeks back I noted in this blog post, in order to scale gains. I trailed my stop down to my entry price.  Caterpillar remains weak and is flirting with a multi-year breakdown below the $78-$80 area, which is an important level dating back nearly a decade. And as much as I...

10Mar2:37 pmEST

Covering Up for Privacy on Facebook; Chess Moves

I just covered half of my FB short at $77.88 from my posted $80.19 entry last Friday here , in order to scale some immediate gains in the marquee name. I will trail my stop down to my entry price.  Overall, the short thesis remains intact for FB and its chart. But I am simply staying methodical with profits on the short side until I see more...

10Mar10:44 amEST

Balancing Out my Blueberries in the Casino; Chess Moves

I covered some more of my LVS short here, at $52.50, from my $55.34 entry to scale partial gains. Recall that I took some off the table yesterday, too. So, now I am down to about 25% of my original position, with my stop-loss at my entry price.  Sands continues to break lower yet. But until we see even more evidence of a major market turning...

09Mar2:40 pmEST

Taking a Stab at the Dow; Chess Moves

I went long SDOW at $19.22 with a tight stop below $19. SDOW Is the ultra-bearish Dow ETF.  This position is potentially a day-trade for me, depending on how it plays out in the final 60-90 minutes of the session.  The theory behind the trade can be seen, below, on the DIA (Dow ETF) hourly timeframe.  Note that today's AAPL/DIA rally took the...

09Mar11:02 amEST

Swapping One Bear for the Next; Chess Moves

With energy stocks rallying and outperforming today, potentially putting in lower swing highs across the board, I elected to step aside and sold my ERY long (triple-bearish ETF for energy stocks) just below $21 from the $20.37 entry I noted here  for a win. This is a modest but worthwhile win, considering the alpha I pick up by not riding...

09Mar10:28 amEST

A Loose Aggressive Chart; Chess Moves

Into this move lower this morning, I covered half of my LVS short entered on Friday in this blog post , at $53.76 from the $55.34 entry to scale partial gains.  I moved my cover-stop down to my entry price.  LVS could easily just be getting started to the downside. But until we see more confirmation of a broad market correction I am going to...

06Mar3:32 pmEST

I Can Beat My Burrito at Chess; Chess Moves

I went short CMG at $660.16 with a cover-stop over $680. This position equates to roughly 4% of my portfolio capital.  On the weekly chart, below, CMG looks to be struggling in the midpoint of its long-running rising channel (light blue line). On shorter-term timeframes, the stock has been a base breakdown candidate for a while, which I have...

06Mar2:06 pmEST

Going Solo on This One; Chess Moves

First off, I just sold a piece of my SRS long at $12.63 here from $12.03 posted earlier this week  to scale some gains. I now retain about 75% of my original position, with a stop-loss still below $11.50 on this ultra-short REITs ETF.  Next, I went short FB at $80.19 with a cover-stop over $83, a contrarian play and looking to swing it.  FB...

06Mar12:26 pmEST

Has Mr. Rothstein Even Applied for a Gaming License? Chess Moves

I just went short LVS at $55.34 with a cover-stop over $58.70, looking to swing it for another leg down in its current weekly downtrend. This position equates to roughly 4% of my trading portfolio capital.  LVS is a name I have profiled many times over the past year or so as consistently being an actionable short idea. Long-time readers will...

06Mar10:34 amEST

Treat Your Positions as They Treat You; Chess Moves

In the markets, just as in life, it is often best to develop a certain disdain for things and people which do not treat you well--Ignoring them is the best revenge, rather than trying to placate them or stoop down to play on their childish level. For this reason, I religiously cut losers and do not look back. Although you can see how a ticker...

05Mar12:32 pmEST

Pressing for Lethargic Energy Stocks; Chess Moves

I am pressing the energy stocks, housed in the XLE ETF, to resume their downtrend and defy the many calls for a major bottom in place.  As a result, I went long ERY, the triple-bearish ETF for energy stocks, at $20.37 with a protective cover-stop below $19.50.  This position amounts to roughly 4% of my trading portfolio capital. Keying off the...

05Mar10:41 amEST

Back to Switch-Hitting; Chess Moves

I just closed out the rest of my DUST long above $15.10 from the $14.61 entry the other day. Gold miners seem to be wanting to reverse today after some recent weakness.  And considering the strength in the U.S. Dollar, the reversal is all the reason I need to take down the rest of this win.  As I stated before, I may very well reverse the trade...

04Mar3:05 pmEST

Going After Prized Real Estate; Chess Moves

I just went long SRS, which is the double-bearish ETF for the commercial real estate stocks (REITs).  I went long at $12.03 with a protective stop-loss below $11.50. This position equates to roughly 4% of my trading portfolio capital.  The top individual holdings to watch with respect to this play are: SPG AMT CCI. In my view, all three, and...

04Mar1:05 pmEST

Switch-Hitting with Confidence; Chess Moves

After previously scaling gains, I just sold more of my DUST (the triple-short ETF for the gold miners in the GDX) long at $15.66 from my $14.61 entry posted yesterday. My stop-loss is at my entry to prevent a winner from turning into a loser. I am down to about 1/4 of the size of my original position, which was 4% of my trading portfolio...

04Mar10:31 amEST

Surviving the Dust Bowl; Chess Moves

After scaling an initial piece yesterday, I just sold more of my DUST (triple-bearish ETF betting against the gold miners in the GDX) long above $15.50 from my posted $14.61 entry yesterday. I am now down to a 1/2 sized position in DUST, moving my stop-loss up to my entry price.  As we discussed previously, when GDX lost its 50-day moving...

03Mar1:31 pmEST

A Quick Spot for a Paper Tiger; Chess Moves

As I noted in my last blog post, I went long DUST at $14.61 with a tight stop-loss below $14.30. This position is about 4% of my trading portfolio. DUST is the triple-bearish ETF for gold miners.  The miners have been struggling of late, and the GDX (from which DUST is derived) may be losing its 50-day moving average (dark blue line) today,...

27Feb3:40 pmEST

Swapping Positions Into the Weekend; Chess Moves

Headed into the weekend, I went long SOXS at $11.32, with a stop-loss below $11. This is a 4% position-size, and is the triple-bearish ETF for the semiconductor sector. The top two components in the SMH ETF, INTC and TSM, are closing the week out weak, and I am betting they will lead the group lower next week.  I also went and sold out of my...

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