23Oct3:43 pmEST

A Good Market Spoiled

Amid another sloppy and choppy day in the broad market, it is worth flagging Callaway Golf for you. On the ELY daily chart, below, note the outperformance of late, including the green today. True, earnings are coming up tomorrow.  But the most interesting aspect about Callaway here is that they own a stake in TopGolf, an up-and-coming company...

23Oct10:48 amEST

Don't Just Go Through the Motions

One of the more challenging aspects about speculation, of all kinds, is catching yourself in the moment and resisting the urge to place a bet simply because that is what you think you are supposed to do. After all, if you are not trading, then what difference is there between you and some who never trades? On the surface, it seems like not...

22Oct10:51 amEST

Biogen Changing Just in Time

After large cap biotechnology stock Biogen resurrected its Alzheimer’s drug during its earnings beat this morning, the stock is higher by roughly 30% as I write this. Considering we are talking about a firm with a market cap over $50 billion, this is a rather unique move.  As it pertains to the biotechs as a whole, keying off the IBB and XBI...

21Oct3:47 pmEST

More Ways to Fall in Love

Just a quick follow-up into the bell today with our working thesis that energy stocks and materials are putting in a long-term bottom: We have crude oil lower on global demand concerns (or at least that is the reason provided by CNBC).  However, energy stocks themselves are higher, with the OIH ETF (oil service and equipment stocks) up 3.5% as...

21Oct9:53 amEST

Early Analysis of the Small Caps

"They've got tremendous moxie for their size." "Tell me about it. IWM is a fighter."   Small caps are out of the gate impressively this morning. However, at the risk of throwing cold water on the party, note that software names like COUP MDB NOW OKTA TEAM WDAY are all red again (or flattish) and still cannot even muster a bounce after...

18Oct3:47 pmEST

Gliding All Over

For better or worse, I elected to lock in some modest wins with recent trades and move to full cash into the weekend.  After some choppy and sloppy trading in recent weeks and even months, my thinking is to get back into the habit of taking down wins as long as the market is not in a silky smooth trend higher. And given the harsh selling we saw...

17Oct9:24 amEST

Make Yourself at Home

The housing sector continues to thrive to little fanfare, with homebuilders front and center in the ITB and XHB sector ETFs. Beyond some well-known builders like DHI KBH PHM are lesser-known but high quality ones like LGIH MDC SKY, among many others. For a while now, we have been tracking the relative and absolute strength in this sector both...

16Oct10:52 amEST

A Nap; Just Not a Dirt Nap

Software growth names are back in the doghouse this morning, be it due to a NOW downgrade or simply sellers reasserting themselves in the likes of AYX COUP MDB RNG SPLK WDAY, among others.  Clearly, when we see these growth stocks come back under pressure it gives us pause regarding the potential for an imminent move to new highs in the broad...

15Oct5:00 pmEST

Stock Market Recap 10/15/19 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. If you enjoy my videos and blog posts, then please...

15Oct11:05 amEST

Getting Un-Zuck

The large cap, glamorous "FANG" stocks in tech (Alphabet, Amazon, Facebook, Netflix) have been "stuck" in the mud of this market for months, regardless of how well Alphabet's chart has held up and been acting (in fact, GOOGL is my horse in this race and has been for a while).  Even with GOOGL exuding impressive relative strength to, say, NFLX,...

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