Chess Moves

Showing articles 121 - 140 (182 total)

16Jan10:23 amEST

I Win My Battles Papa Smurf-Style; Chess Moves

After a big win in the little (junior gold miner 3x long ETF) JNUG early this week, I just sold half of my "Papa Smurf" senior gold miner ETF, long NUGT, at $18.96 from the $16.88 entry I noted yesterday in real-time in this blog post . I moved my stop-loss up to my entry price--Still "scaling and trailing" those winning positions to manage...

15Jan3:10 pmEST

I Think I Can Short Ford; Chess Moves

I went short Ford here at $14.91, with a cover-stop above $15.80. I am playing for breakdown on all timeframes. With retail sales slumping, and big ticket-related items like homebuilders getting hit hard, too, I think going after the large auto-maker makes sense. In addition, the technicals are there to take a shot on the short side. Ford has...

15Jan1:53 pmEST

A Battle Worth Fighting; Chess Moves

I went long BIS at $43.85 with a stop-loss below $41.50. BIS is the ultra-short biotechnology sector, which means I am now shorting biotech as a group. Some of the biggest components in the ETF are: AMGN BIIB CELG GILD, among others. Biotech has been a hot and crowded long trade for a while. Shorting the space has been particularly ominous...

15Jan1:10 pmEST

Scale and Trail, Scale and Trail; Chess Moves

I covered a piece of my FB short here at $74.32 from the $76.22 entry noted in this blog post yesterday to lock in gains. I am trailing stop down to entry on rest of the position. It was roughly 4% of my portfolio, and now is a little over 2% of my trading portfolio capital. The FB daily chart, seen below, shows price now hitting the lower...

15Jan11:31 amEST

Playing the Miners with Papa Smurf; Chess Moves

As opposed to my JNUG (triple-long ETF for the little junior gold miners) trade earlier this week, which I was fortunate to sell near the highs (thus far), I am upgrading in terms of size to Papa Smurf, or NUGT, which is the triple-long ETF for the senior gold miners. Specifically, I went long NUGT at $16.88 with a stop-loss below $16. This...

14Jan3:40 pmEST

Lightening Up and a Portfolio Update; Chess Moves

I covered half of my UAL short at $62.72 from $65.13 entry noted here to lock in partial gains. I am moving my stop to my entry. I also decided to cover the rest of TSLA short at $191.22 from the $206.55 entry I noted here . I will revisit it soon but don't want to get caught in a squeeze. Crude oil and the market are bouncing this...

14Jan2:23 pmEST

Kicking Half Off the Flight; Chess Moves

I just covered half of my AAL short at $48.94 from the $53.59 entry noted here . I moved my stop-loss to my entry price. This is more "scaling and trailing" winning positions, as is my style. I still believe the airlines have more downside. But given how volatile the market has been, and how resilient bulls could easily still be, I am going...

14Jan12:39 pmEST

More Scaling and Trailing Winners; Chess Moves

Picking off some quick wins here and there, I covered half of my Visa short just now at $254.84 from the $260.30 entry I noted in this blog post . I trailed down my stop to my entry price on the short. Visa is essentially back down its lower Bollinger Band and short-term oversold, which is why I am scaling some gains here. Overall, the...

14Jan11:45 amEST

Probe the Prober; Chess Moves

A general rule in technical analysis is that the more times a well-defined price area or trend is probed, the more likely it is to eventually give way as that level inherently loses its luster. In many respects, it is a self-fufilling prophecy as many seem to be watching the same thing. So, it is a well-defined support trendline is lost, then...

14Jan10:09 amEST

Electric Slide Lower; Chess Moves

I just covered half of my TSLA short at $192.22 from my posted entry at $206.55 which can be found here, from last week. The stock is gapping down on some bad news last evening. But I believe it was ripe to come in anyway due to lower oil and previous upside momentum now in danger of going over the other side of the mountain. I moved my...

13Jan3:42 pmEST

Into the Bell Adjustments; Chess Moves

I sold final piece of my TVIX long at $3.32 here instead of swinging it, from $3.00 entry posted earlier today. I am all out of volatility plays for now. I am also holding onto the other piece of my levered silver long, after taking partial profits this morning, due to the intraday consolidation seen on the SLV chart, below. Note the orderly...

13Jan2:10 pmEST

Going After the Napoleon Complex; Chess Moves

First and foremost, I peeled off most of my TVIX long at $3.18, then $3.31 (announced on Stocktwits.com) from my $3.00 posted entry. I will let the final piece run in case volatility pops again tomorrow. Next, I went long TZA, the triple-levered short ETF for the Russell 2000 Index. The small caps house many biotechnology stocks, too. And the...

13Jan1:35 pmEST

More Sniper Action; Chess Moves

Picking off moves here and there, I went long TVIX for a volatility trade at $3, with a stop-loss below $2.85. I may very well just day-trade this volatile volatility instrument, depending on how we close today. In addition, I stopped out of the final small piece of my JNUG long above $38, from the prior $35.59 entry to lock in the rest of...

13Jan12:21 pmEST

Be a Battlefield Tactician; Chess Moves

I sold a piece of the USLV long at $24.70 from my $22.26 entry yesterday noted in this blog post . I am raising my protective stop-loss to my entry on the rest of the position. On the whole, I continue to be impressed with the action in the precious metals and miners complex. Still, it is wise to the big, fast gains when we have them because...

12Jan3:43 pmEST

Next Case!

Despite a gap down in the natural gas trade, which I quickly cut out of this morning, it was a good day of trading with the big JNUG win, AAL LOW TSLA V gains on the short side, and a winning UVXY Day-trade long (I did stop out of the final piece at around breakeven after scaling a win initially). Equities, as a whole, suffered more selling...

12Jan2:57 pmEST

The Best Nation in the World is Rotation; Chess Moves

First and foremost, I scaled off a piece of my UVXY long at at $29.14 from $28.32 entry earlier today noted here . I trailed up my stop-loss to my entry price. Next, I went long USLV at $22.26. USLV is the triple-long silver ETF. With the big run-up in the gold miners today, especially our juniors in JNUG, I am playing for some rotation...

12Jan2:09 pmEST

More Scaling, More Trailing; Chess Moves

For the sake of discipline, I scaled off another small piece of my JNUG long at $42.30 just now, from Friday's $35.59 entry noted here , and prior gains I locked in this morning at $39.33 in this blog post . I now have a small "runner' position left on, just in case the miners go completely bonkers to the upside and shock the world this...

12Jan1:36 pmEST

In for a Quickie; Chess Moves

I went long UVXY, the ultra-long volatility ETF, at $28.32 with a protective stop-loss below $27. This position is about 4% of my capital. And I may very well day-trade it before the session is over. Volatility did a good job of digesting its morning gap up without giving much back, seen on the 30-minute chart, below. I am playing for an uptick...

12Jan11:21 amEST

Scale and Trail, Baby. Scale and Trail; Chess Moves

With GDXJ (and JNUG) now quickly hitting it upper daily chart Bollinger Band, I am now up big on my JNUG long in a very short period of time with overbought conditions in play. I still think the junior gold miners can lead the precious complex higher. But discipline is forcing me to scale partial gains here, at $39.33 from Friday's $35.59 entry...

12Jan10:34 amEST

Ride the Winners, Cut the Loser; Chess Moves

On the whole, it is a good morning for my portfolio, with AAL TSLA UAL shorts working nicely to the downside while my JNUG long is moving well upside. However, a sore spot is the performance in natural gas, which stopped me out above $3.60 on the UGAZ ETF for a loss from my $4.07 entry the other day. Natty is a volatile one, and this move down...

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