Chess Moves

Showing articles 81 - 100 (188 total)

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...

27Feb3:00 pmEST

Trapping the Big Cat with a Chase; Chess Moves

I just went short the giant global industrial player, Caterpillar, at $83.03, with a protective cover-stop over $86. This position amounts to roughly 4% of my trading portfolio capital. The big CAT has been weak on the whole since around Thanksgiving of last year. But that weakness has been covered up by the chase happening in the market...

27Feb1:11 pmEST

Playing a Quality Setup; Chess Moves

I just went long CRTO at $45.59 with a protective stop-loss below $43, looking to swing trade a breakout in this bullish technical setup which we have been looking at in recent weeks. This position amounts to roughly 4% of my portfolio capital.  CRTO is a French internet firm which has shown signs of being under accumulation of late, gauging...

27Feb12:15 pmEST

A Win is a Win is a Win; Chess Moves

After entering UGA, the gasoline ETF, back on Wednesday  at $36.63 for a long trade, I just sold the other half of my position for about a two-point win.  As I noted, this was a smaller position size due to how thinly UGA trades at times. However, a win is a win.  And after two big wins in UGAZ in recent weeks, recognizing the rotation into...

26Feb3:42 pmEST

More Trades Into the Bell; Chess Moves

I cut my AKS long at $4.45 from my $4.52 entry for a loss, as the rotation thesis down to those materials did not pan out immediately as I thought it would. So, once again, I will keep losses quite small.  I also went long TBT, the ultra-short ETF for Treasuries, at $43.73 with a protective stop-loss below $42. Bonds could still be bear-flaggng...

26Feb2:49 pmEST

Digging in the Dirt; Chess Moves

I am digging in and getting my hands dirty here, going long FAZ, the triple-bearish ETF for the financial sector.  Specifically, I went long FAZ at $12.34 with a protective stop-loss below $12, playing for the financials in the XLF ETF to make a lower swing high. This position amounts to roughly 4% of my trading portfolio capital.  As we had...

26Feb11:06 amEST

Leave Off the Last Z for Savings; Chess Moves

I hope you can see why I am so careful in playing the levered ETFs like UGAZ, judging the action this morning after the inventory report. UNG could not hold the $14.90 initial upside breakout level earlier this week, and now UGAZ is getting pounded as the triple-long natural gas ETF after the inventory report this morning, down more than 13% as...

25Feb2:56 pmEST

Driving Down the Road to Perdition; Chess Moves

I went long SQQQ at $25.27 with a tight stop-loss below $25 for a potential day-trade, shorting the Q's on the AAPL weakness. SQQQ is a ultra-bearish levered ETF derived from the Nasdaq-100.  I may very well turn this into a swing trade, though, depending how the final hour plays out today. So stay tuned. This position amounts to roughly 4% of...

25Feb1:03 pmEST

Going Long the University of Georgia; Chess Moves

I went long a small position in the UGA (which also happens to be the shortened form for the University of Georgia) ETF earlier today at $36.63. Because this is a thinly-traded ETF , I am a using a much lighter position size, roughly 1% of capital. If you are not comfortable trading thin ETFs, please skip down to my chart for the educational...

06Feb2:53 pmEST

Sending Out an SRS; Chess Moves

With the intention of swinging it into next week, I went long SRS, the ultra-short REIT ETF (basically the double-short version of IYR), at $11.56 with a protective stop-loss below $11. This position is roughly 4% of my capital. REITs, utilities, and even some consumer staples are seeing notably weakness as yields rise this week, Note how they...

06Feb1:54 pmEST

The Quick and the Dead; Chess Moves

I sold off a few pieces of my UWTI long since my last post , first at $3.87 and now at $3.89, from my earlier $3.69 entry. I moved my protective stop-loss to my entry price, and now have a 1/2 position in the triple-long crude ETF. This is quick day-trading, given the volatility in crude, still mired in a steep downtrend, and given the...

06Feb12:40 pmEST

Going for a Scalp with the Oil Cowboys; Chess Moves

In what may turn out to be merely a day-trade, I went long UWTI (triple-log crude oil ETF) at $3.69 with a protective stop-loss below $3.55. My theory is still that crude is a trading vehicle until further notice, in lieu of calling a big bottom or playing for another crash. As such, quick trades can be found here and there. On the 30-minute...

06Feb10:31 amEST

Cutting the Rest of the Miners Into a Gap Down; Chess Moves

After setting up in a promising technical manner, the precious metals miners have taken a turn for the worse this morning. Whichever reason the market had after the jobs report for dumping gold and the miners is irrelevant to me--Rather, quite simply, the technical bullish thesis was dealt a short-term blow this morning. As a result, after...

05Feb3:20 pmEST

Late Afternoon Chess Moves

I sold off another piece of my JNUG long here at $35.39 from the $33.40 entry, noted yesterday in this blog post , to scale more gains I am now down to about 1/2 position of the original position size. Also, if you missed my update in my last post, I sold the UGAZ long from earlier today at $2.48 for a loss from y $2.58 entry. It was a tight...

05Feb12:13 pmEST

Back in a Tough Trade; Chess Moves

There is no way to sugarcoat it: Going long natural gas has been an extraordinary tough trade since Thanksgiving. Nonetheless, with crude rallying off recent lows and commodities in general attempting to show signs of life amid a U.S. Dollar currently in consolidation mode I am taking a shot at a long UGAZ play. Specifically, I went long UGAZ,...

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