Daily Archives: April 4, 2024
Showing articles 1 - 8 (8 total)
24Nov3:52 pmEST
Staged Holiday Trading
Today was pretty much scripted holiday trading, in terms of drifting indices with a bullish bent in the small and micro-cap stocks. I mentioned DGLY over the weekend as one of the better recent-IPO long setups at this juncture. And you can see on the weekly chart, below, there is potential for a breakout higher from consolidation. If the...
24Nov3:09 pmEST
Big Blue Still Stuck in the Blue Grotto
With rumors of Carl Icahn being involved in IBM dispelled this afternoon , "Big Blue" is still mired in a technically-damged chart. The daily timeframe, below, shows price fading today back below its 20-day simple moving average, a source of resistance since the stocks's earnings gap lower last month. Should IBM loses $160, I view this as an...
24Nov1:59 pmEST
Sunday Brunch Charts
CREE NILE are still short squeeze ideas on the long side if we see a holiday rally this year, on the first two daily charts below, respectively. And NFLX remains suspiciously weak, still a short idea. More ideas and strategy on the Weekend Market Film Session, out later today.
24Nov1:55 pmEST
Feast Mode
With casual dining and fast food plays like BKW SONC, even BLMN, moving higher today, other plays in the space which are long setups into further strength are the technically properly-setup FRGI TXRH, seen along with SONC on the daily charts, below. Casual dining/fast food plays have been selectively impressive for a while now. And that...
24Nov12:53 pmEST
That's the Discipline
Even though I am still inclined to be a natural gas bull into the winter months, the sharp sell-off in recent sessions is a good reminder to always place discipline first in trading. Recall that I sold my UGAZ long into strength last week, as the UNG ETF (UNG is the straight-up natural gas ETF, UGAZ is the triple-levered long one) rallied...
24Nov11:12 amEST
Potential for CREE-mation
I mentioned CREE last week and over the weekend as a beaten-down short squeeze idea into the holidays. Updating the daily chart, below, I will reiterate that thesis with the stock acting reasonably well this morning. This one has been left for dead and is not particularly well-liked at the moment. But you can see the highlighted bottoming...
24Nov12:03 amEST
Late Night Strategy for Monday
Major copper miner (with some gold exposure) Freeport-McMoran saw a nice gap higher on Friday from beaten-down conditions dating back to the stock's swoon, beginning in July. On the weekly timeframe, below, you can see the pair of bottoming "hammer" reversal candlesticks printed back in June 2013 as well as earlier this month. Freeport is...
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“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.
