Daily Archives: April 4, 2024

Showing articles 1 - 6 (6 total)

12Dec3:56 pmEST

A Fine Market Story to Kick Off the Weekend Festivities

AAPL and IBM appear to be the heavyweights leading the Nasdaq and Dow lower this afternoon, respectively. Of course, the selling is well beyond that, as small caps break below their sloppy consolation pattern. Overall, I am still rather cash heavy with the UNP short and DGP long (from $24.13). The rest is cash and I think that is a fine place...

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12Dec3:30 pmEST

Rain is a Good Thing; Chess Moves

As per the bullish setup I posted the other day on Stocktwits, I went long CORN at $27.25 just now, placing 4% of my trading portfolio capital in the position. My stop-loss would be if we see a close under $26. Back in a bit with the chart update.

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12Dec1:52 pmEST

Update on a Chess Piece

I am still short the mega rail UNP, representing about 6% of my trading portfolio capital. I have cushion on my initial entry, above $118. On the updated daily chart, below, you can see the rail flipping back to nearly flat after a bounce at the open. I am sticking with the short because I view the highlighted consolidation as being a "bear...

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12Dec12:46 pmEST

Two Charts Which Are Taking the Stairs Up

The silver ETF, seen on the first daily chart below, has quietly been outperforming the rest of the precious metals and miners complex in recent session. The highlighted consolidation pattern is a tight one, and I would be looking for a move over $16.50 to set in motion another playable leg higher. Silver bulls would not want to see $16 lost...

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12Dec11:54 amEST

Big Blue Dinosaur Close to Extinction

The major topping pattern on IBM, seen below on the monthly chart, continues to assert itself. "Big Blue" is a huge weighting in the Dow Jones Industrial Average, and you can see the highlighted head and shoulders top already confirmed. I have a target of $130 and maintain it, as value investors from higher levels are trapped. Below $160, and...

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12Dec12:28 amEST

Late Night Strategy for Friday

In addition to casual dining plays like RRGB TXRH, in the software space keep an eye on RUBI as another long idea on strength. If the IPO from last April can clear $15, seen on the first daily chart below, combined with a broad market which cooperates, I would look for a breakout higher. But if we see broad market downside follow-through to...

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