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Showing articles 21 - 40 (43 total)
17Nov1:09 pmEST
Chess Moves
I placed 4% of my trading portfolio capital into a long UGAZ position, at $15.28. My protective stop-loss is if the triple-levered long natural gas ETF loses $14.60, below. I have been outlining my thesis on natural gas for a long trade for several days now tracking the sharp breakout and then pullback in recent weeks. The UNG, straight-up...
17Nov11:20 amEST
Natty Gas Burglars Strike Again
The long natural gas idea from over the weekend is coming to fruition, as we can see natty gas bulls stealing away the initial at major horizontal support (purple line) on the daily chart, below. Note that the recent pullback could easily have made a major higher low before the natty rally resumes. I like what I am seeing off the opening gap...
17Nov12:24 amEST
Late Night Strategy for Monday
The Dollar/Yen currency cross has basically traded in lockstep with equities since the mid-October lows, with both stocks and the Dollar/Yen screaming higher. However, on the 30-minute chart of the Dollar/Yen cross, below, you can see overnight weakness with the potential for further selling if the highlighted bear flag consolidation pattern...
16Nov11:00 amEST
Large Marge: We Will Never Forget
While it remains to be seen how the large healthcare insurers like UNH WLP react to Obamacare 2.0, it sure seems that the secular shift from written to electronic medical records is still very much in play. In addition to the recent strength in CERN, also note Merge Technologies, or MRGE, or "Large MRGE," has broken above multi-quarter...
15Nov4:57 pmEST
Weekend Photos and Motivation
Here is some off-topic content for you to enjoy on this Saturday. First, here are some classic noir photos of New York City. And now some motivation: 25 Things You Should Never Stop Doing for Yourself via Marc and Angel Hack Life Never stop stretching and improving yourself. – Always dream and shoot higher than you think is possible. Do not...
15Nov11:17 amEST
Saturday Sentiment and Obamacare 2.0
Obamacare 2.0 starts today , and I will be back later this weekend to examine the market-related issues of it, politics aside. In addition, @RyanDetrick on Stocktwits, a great follow for sentiment data especially, has the latest AAII Sentiment Survey . As you can see, we now have the most bulls in the survey since December 2010. Typically,...
14Nov3:08 pmEST
Mr. Silver for Now
I went long AGQ last Friday at $38.80, which is the ultra-long silver ETF. My stop-loss is still below $36.50. The ETF came close to taking out my stop this week, but not quite. As you can see on the monthly chart for the straight-up silver ETF, below, if these prior 2010 lows can hold there sure be plenty of time for me to add to my long into...
14Nov1:28 pmEST
Getting Down to Business
To update this blog post from Wednesday, gold and its miners, as well as silver, are acting more like winners than losers. After an apparent weak open this morning, buyers did not put their collective heads down and complain, mope, and point fingers. Instead, they rose to the occasion and showed some heart, buying the dip and never looking...
14Nov12:13 pmEST
Following You Around
Bears keep following the high yield corporate paper and junk bonds around, as you can see below on their updated ETF daily charts. High yield paper typically is a sign of risk appetite correlated to equities, which is why I continue to refer to these charts. Note how the S&P is basically at all-time highs while these two could easily now be...
14Nov10:38 amEST
Divorce Italian Style
Although it is not particularly popular to speak up nowadays of the potential for a "bull trap, or false breakout which leads to a sharp correction, in equites these days, thanks largely to the QE V-shaped market, I am still going to do it. Simply put, the higher up we go on a multi-year basis with leading issues such as major biotechnology...
14Nov1:11 amEST
BTFD.tv Appearance from Thursday
Here was my appearance on BTFD.tv with my friend @iuubob
13Nov3:17 pmEST
Pin Action Ideas off Weak Oil
With oil continuing its plunge, keep an eye on oil-senisitve stocks such as Flowserve, seen on the daily chart, below. Aggressive traders seeking out short plays can position for downside here with a stop over $67.50. The daily chart suggest a bearish consolidation now breaking down with oil. Also keep an eye on FLR FWLT JEC for similar...
13Nov1:34 pmEST
Looking at the Small Caps Through This Lens
We have an interesting short-term development in the small caps today. The little guys have been impressive of late, especially into the bell yesterday. And yet, as you can see on the 30-minute chart, below, the move over $117.40 (horizontal light blue line) has been sold with price now back below that breakout point. In the current bull...
13Nov12:24 pmEST
Junk Food for Thought
The high yield corporate paper and junk bond ETF's, below on their respective daily timeframes, continue to diverge from equities with respect to the major averages making fresh highs while these ETF's straggle after a rally off the October lows. This is not enough evidence to declare a market top. But it does add credence to the notion that...
13Nov9:22 amEST
Do You Have Last Stock Standing Mentality?
Do you have last stock standing mentality? Do you feel that there is only one stock for you to trade? There are plenty of stocks out here for you to trade. Wake up!
13Nov2:08 amEST
Debating Two Chess Moves Into Tomorrow
Headed into Thursday morning's open, two commodity longs I am considering taking are premier silver miner, Silver Wheaton, and the WEAT fund for the wheat commodity. SLW reported earnings this morning, and the first daily chart below shows the stock "gnawing away" at its declining 20-day moving average (and outperforming other miners today,...
13Nov1:10 amEST
Condescending Music Snobs Are Coming to Thanksgiving Dinner
As a follow-up to my last post on NILE and potential retail laggards catching a bid into Black Friday in two weeks, also note Skullcandy with a comparable chart. On the daily chart, below, note the stock breaking out from a potential base bottom formation. The strength today is quite impressive on a relative and absolute basis. Daily chart...
13Nov12:11 amEST
Late Night Strategy for Thursday
On the long side, keep an eye on Zendesk, seen on the first daily chart, below. As we know, many of the recent IPO's have been a hot pocket for momentum traders. If ZEN makes another push up towards $28 on the back of Wednesday's strength it becomes an enticing, quick momentum long. And on the short side, HES and many large energy firms...
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About
“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
