Chess Moves

Showing articles 141 - 160 (182 total)

09Jan2:55 pmEST

Back in the Miners; Chess Moves

After selling NUGT SLW for wins earlier this week, I just went long JNUG, the triple-long junior gold miner ETF. JNUG is a volatile one, even more than NUGT, for example. Nonetheless, I am impressed with the bears' failure to take down the miners this week after a sharp prior run-up. I am positioning for a secondary leg higher in the precious...

09Jan2:01 pmEST

Doubling Up on the Bearish Airline Thesis; Chess Moves

I went short UAL at $65.13 with a protective cover stop-loss above $68. This is roughly 4% of my trading portfolio capital, as I am pressing the bearish airlines bet alongside my current AAL short. On the daily chart, below, note UAL leaning down against well-defined trend support (light blue line). In addition to the long-term overhead supply...

09Jan11:55 amEST

Back in Natty; Chess Moves

I just went long UGAZ, the triple-long natural gas ETF, at $4.07 with a protective stop-loss below $3.80. The position amounts to roughly 4% of my trading portfolio capital. I have played UGAZ for quick-hitters over the past year or two, capturing sizable pops and religious cutting it those times I was wrong for contained losses. While many...

09Jan11:09 amEST

Going Short Tesla Motors; Chess Moves

I went short TSLA at $206.55, with a protective cover-stop loss over $217. The position is 4% of my trading portfolio. My reasoning behind the trade is under the theory that this momentum darling is operating below a declining 200-day moving average and could easily have just put in a lower swing high before rolling back over. Cheaper oil could...

08Jan3:42 pmEST

Closing Out A Few Winners Into the Bell; Chess Moves

Into the closing bell, I closed out a few winning positions. I covered the rest of my GOOG short $502.93 from my original core entry above $524 and an add in the $516 handle. The stock is staging a reversal on some bad news (for the stock) today, which typically means sellers are short-term exhausted. I sold the rest of my NUGT long at $13.50...

08Jan10:32 amEST

Locking in Part of the Google Short; Chess Moves

With GOOG red while the market is surging higher, again, I am electing to cover part of my GOOG short here at $497.50 to lock in partial gains. I entered the short up at $524.41 for my core position, and added to it at $516.46 (see this post ). I moved my stop-loss down to my core entry for the rest of my position. Google now looks to be...

06Jan11:06 amEST

Pressing a Bet; Chess Moves

With the trade thus far working in my favor, and the market cooperating for shorts, I added to my GOOG short here at $516.46. Back on Friday in this blog post , I entered the trade at $524.41, playing for a breakdown to fresh 52-week lows. The position was roughly 4% of my trading capital, with a protective stop-loss above $540. The position...

06Jan11:01 amEST

My Way of Playing Oil to Stabilize Soon; Chess Moves

I went short AAL, a major airline, in lieu of trying to catch the falling knife that has become crude oil. On a standalone basis, AAL looks ripe to follow some other major airlines lower today from its extended conditions on virtually all timeframes. But if crude can at least find a temporary low soon, or stop going down altogether, then...

06Jan10:21 amEST

Scale and Trail a Winner; Chess Moves

Into this opening pop higher in metals and miners this morning, I sold half of my NUGT long at $14.47. I announced an entry into a long NUGT position yesterday in this blog post . My entry was down at $12.84. So I will now trail up my protective stop-loss to that entry price. I may very well add back to NUGT. But trading around such a...

05Jan3:09 pmEST

Back on the Bus; Chess Moves

With the GDX, senior gold miner ETF, back over its 50-day moving average to little fanfare today, I went long NUGT (the triple-long miner ETF) at $12.84. NUGT is a fast-moving instrument with tons of gaps and mind-numbing volatility. But I like the setup both technically, with the miners failing to break down to fresh bear market lows in recent...

05Jan11:22 amEST

A Fresh Trade; Chess Moves

I went short Visa at $260.30 just now, placing 4% of my trading portfolio capital into the name. I am playing for the rising channel, seen below on the daily chart, to resolve lower and break down. My cover-stop is above $270, in order to mitigate the risk in the trade. Major credit cards have been multi-year winners. I was wildly bullish,...

02Jan2:39 pmEST

We All Have it Coming, Kid; Chess Moves

I went short LOW, as per my earlier post today, at $67.65. The position is roughly 4% of trading capital, with a protective stop-loss above $69.70 (recent highs). LOW looks ripe to finish out this week with a week chart "shooting star" bearish reversal candlestick after prior steep uptrend, seen below on the weekly timeframe. My risk is...

02Jan1:45 pmEST

Going Short a Premier Name; Chess Moves

With today's weakness, I am picking on one of the premier issues in the Nasdaq and the entire market--Google. I went short GOOG at $524.41, playing for a breakdown to fresh 52-week lows. The position is roughly 4% of my trading capital, with a protective stop-loss above $540. In order for the short to work well, GOOG likely needs to lose $523,...

02Jan11:15 amEST

Be a Leader; Chess Moves

I went long SLW, premier silver miner Silver Wheaton, at $20.69 just now, placing 4% of my trading portfolio capital in the name. My protective stop-loss is set below $19.80. I am impressed with the upside reversals in the precious metals and miners this morning, while equities in general have reversed lower. Metals and miners have been sloppy...

30Dec3:38 pmEST

My Portfolio, Please Step Into My Office; Chess Moves

"Youah fiyhad!" Headed into the last day of 2014, I am not impressed with my portfolio holdings. They are not cratering on me, but they are taking too long to get moving in my direction. So I decided to fire them and move to 100% cash. Thus, I covered UNP for a small loss, sold my TBT long for a small win on my core entry, and sold UGAZ for a...

30Dec2:25 pmEST

A Mixed Bag of Popcorn; Chess Moves

I sold my CORN long at $27.20 here, from the $27.25 entry I noted in this post , for basically scratch. The corn long, as usual, took its time to get going but could not hold over $27.70 to sustain any kind of upside traction. So, into the New Year I am lightening up the sluggish positions and possibly revisit them if they gain back their...

29Dec12:29 pmEST

Dueling with a Familiar Foe; Chess Moves

I noted on Stocktwits and Twitter a few moments ago ( @chessNwine ) that I went long UGAZ at $4.96 with protective stop-loss below $4.70. The position represents roughly 4% of my trading portfolio capital. I plan on swinging the trade for a few days if it goes according to plan, which is a steady move higher. UGAZ is the triple-long natural...

23Dec12:48 pmEST

Adding to an Open Position; Chess Moves

I added to my existing TBT long just now, at $47.38, after the core $46.46 entry noted in this blog post . My protective stop-loss is still below $45, in the event the trade turns against me. This position now represents roughly 6% of my trading portfolio capital. TBT is the ultra-short ETF for Treasuries. In essence, I am betting against...

17Dec3:48 pmEST

Off to Battle Again; Chess Moves

Into the bell, I went long TBT (the ultra-short Treasuries ETF) at $46.46, with a protective stop-loss below $45. This position represents 4% of my trading portfolio capital. More on this trade and equities in my video market recap after the bell. See you there.

17Dec11:15 amEST

Cutting a Gourmet Loss; Chess Moves

No dice on the coffee long starter position I took the other day, with the JO ETN failing to hold recent lows. As a result, I closed out my position just above $31.30 from the $32.77 entry I posted the other day for a loss. I am honoring my stop-loss as the thesis for the trade is being proven wrong by the market with price losing Monday's...

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