Daily Archives: June 6, 2024

Showing articles 1 - 7 (7 total)

05Jan4:45 pmEST

Stock Market Recap 01/05/15 {Video}

The following video contains coverage of relevant broad market issues (for equities) in addition to plenty of actionable trading ideas across other asset classes. Feel free to pick and choose which ideas and parts of the analysis fit your style. Always properly manage your downside portfolio risk for any trades taken. Enjoy tonight's...

05Jan3:39 pmEST

Playing Chicken with the Neckline

Coming up in my video market recap after the bell it is worth discussing major biotech GILD and how it outperformed today. On the updated daily chart, below, note the "throwback" to the busted neckline of a topping pattern. Bears made some progress today. But they almost assuredly must take down biotechs in order to really make headways for a...

05Jan3:09 pmEST

Back on the Bus; Chess Moves

With the GDX, senior gold miner ETF, back over its 50-day moving average to little fanfare today, I went long NUGT (the triple-long miner ETF) at $12.84. NUGT is a fast-moving instrument with tons of gaps and mind-numbing volatility. But I like the setup both technically, with the miners failing to break down to fresh bear market lows in recent...

05Jan1:11 pmEST

On the January Barometer

You are likely to hear more and more about the "January Barometer," which is a theory which hods that as January goes, so goes the year. Therefore, we are going to raise and discuss this issue now. The 2010 Stock Trader's Almanac states this theory is essentially 91% accurate, dating back to 1950, with only a few misses. Seasonality is...

05Jan12:19 pmEST

Russia Bears Watching Again with Oil Cascading

With crude oil cracking below $50, and energy stocks getting lit up, the Russia short is back on watch. RUSS is the triple-levered short ETF for the RSX. On the RSX daily chart, you can see a bearish pennant formed. The RSX is under $15, which means a breakdown is now on the table. Any further weakness likely sees an actionable short trigger...

05Jan11:22 amEST

A Fresh Trade; Chess Moves

I went short Visa at $260.30 just now, placing 4% of my trading portfolio capital into the name. I am playing for the rising channel, seen below on the daily chart, to resolve lower and break down. My cover-stop is above $270, in order to mitigate the risk in the trade. Major credit cards have been multi-year winners. I was wildly bullish,...

05Jan10:25 amEST

Starting to Come Together, Pepper

The thesis we looked at of late and over the weekend in my video Strategy Session is unfolding this morning, with precious metals and miners outperforming while equities slump. With respect to the precious metals and miners complex, silver and the junior gold miners are typically the two best gauges of risk appetite, or lack thereof. Here,...

 
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