Chess Moves

Showing articles 81 - 100 (182 total)

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,...

04Feb3:33 pmEST

Getting Squared Away Into the Bell; Chess Moves

Into the bell, I sold 1/3 of the JNUG long at $34.30 from the $33.40 entry earlier to scale some gains. I am still holding 2/3 of it with the same stop. I also covered my LUV UAL shorts, LUV at $44.84 and UAL at $72.14. I had previously scaled gains in LUV UAL in their down moves earlier this week. But they both snapped back very hard today...

04Feb3:20 pmEST

Another Shot at Playing with Fire; Chess Moves

  I went long JNUG, the triple-long ETF for junior gold miners, at $33.40 earlier on Stocktwits/Twitter with a stop-loss below $32, playing for junior gold miners to lead a rally higher. I may day-trade part or all of this position, depending on the action into the final hour of trading. HL is one of the top components in the GDXJ ETF, and it...

03Feb3:50 pmEST

Update Into the End of the Workday

I decided to sell off the rest of my DWTI long at $107.32 from my $98.88 entry earlier today. I will not swing crude oil with inventory report tomorrow morning. CMG looks to be one of the big earnings tonight after the bell. Overall, despite my TZA loss and gold miners reversing lower, the airline shorts and an opportunistic trade in oil...

03Feb1:41 pmEST

Cutting a Loser and Locking in Airline Winners; Chess Moves

The market continues to be extremely volatile not just on a day-to-day basis, but also intraday as well. As such, there is still a premium being placed on agility and discipline as a trader. We simply need to keep cutting losers quickly, while managing winners effectively. With this in mind, I made the following sales: I sold my TZA long for...

02Feb3:15 pmEST

Trimming Some Fast Gains; Chess Moves

For the sake of discipline in this volatile market, I just sold a piece of NUGT long up here at $19.53 from my posted $18.46 entry earlier today here , to lock in some initial, fast gains. I still, however, have my core position on with a stop-loss below $17.20. Precious metals and especially miners are having a solid day, overall. But more...

02Feb12:07 pmEST

An Attractive Point of Attack; Chess Moves

I went long NUGT again, the triple-long ETF for for the senior gold miners, at $18.46 with a protective stop-loss below $17.20. This position represents roughly 4% of my trading portfolio capital. I have played the gold miners numerous times this year with good results. But, of course, each trade is going to need to stand on its own merits. It...

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