Daily Archives: April 4, 2024

Showing articles 1 - 5 (5 total)

05Dec3:42 pmEST

The Last Good Train Ride; Chess Moves

Headed into the weekend, I placed 4% of my trading portfolio capital into a short Union Pacific position, at $118.73, with a cover-stop over $124. I playing for the stock to at least hit $110, if not lower, before earnings in late-January 2015. I have shorted this multi-year winning mega rail a few times in recent quarters with mixed results....

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05Dec1:46 pmEST

The Two Lane Rising Channel Highway

We have an interesting split in the market right now, with premier Nasdaq names like Tesla Motors sporting a clear weekly chart rising wedge breakdown, first below. TSLA's stock has been sluggish for a while now, and buyers may finally be throwing in the towel short-term as upside momentum has been set on fire. Meanwhile, financials are...

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05Dec12:31 pmEST

Looking for the Old School Sexy

In Texas hold 'em poker, the term "sexy" is slang, used as a noun to describe the act of slow-playing a hand on "the river," or after all of the community cards have been dealt. Instead of betting your hand in one of the first positions to act, you instead "check" to your opponent(s) with the intention of raising once the action gets back...

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05Dec11:06 amEST

Update on Two Market Chess-Style Ideas

YELP has been a consistent short setup I have charted in recent weeks. This is a textbook broken chart which needs technical and psychological help before having a chance to heal itself. Note how price is operating below major, declining moving averages. This morning, YELP appears to be breaking down from the highlighted descending triangle...

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05Dec12:28 amEST

Late Night Strategy for Friday

Now that natural gas is back to being hated and very oversold, seen below its lower Bollinger Band on the UNG ETF daily chart below, I am considering a long UGAZ trade again if we see a gap lower on Friday morning. This would be a rare knife-catch for me. But I believe it may be worth the effort, with a firm stop-loss, given the sharp decline...

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