Daily Archives: April 4, 2024

Showing articles 1 - 7 (7 total)

27Feb3:40 pmEST

Swapping Positions Into the Weekend; Chess Moves

Headed into the weekend, I went long SOXS at $11.32, with a stop-loss below $11. This is a 4% position-size, and is the triple-bearish ETF for the semiconductor sector. The top two components in the SMH ETF, INTC and TSM, are closing the week out weak, and I am betting they will lead the group lower next week.  I also went and sold out of my...

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27Feb3:00 pmEST

Trapping the Big Cat with a Chase; Chess Moves

I just went short the giant global industrial player, Caterpillar, at $83.03, with a protective cover-stop over $86. This position amounts to roughly 4% of my trading portfolio capital. The big CAT has been weak on the whole since around Thanksgiving of last year. But that weakness has been covered up by the chase happening in the market...

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27Feb2:07 pmEST

Close to Solving the Mystery

As a follow-up to my previous blog posts and video analysis about the gold miners likely being in the final round of a heavyweight fight before they either cement a major bottom or resume their bear market lower, consider three of the top holdings in the GDX, ETF for senior gold miners.  ABX is close to trying to confirm a massive inverse head...

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27Feb1:11 pmEST

Playing a Quality Setup; Chess Moves

I just went long CRTO at $45.59 with a protective stop-loss below $43, looking to swing trade a breakout in this bullish technical setup which we have been looking at in recent weeks. This position amounts to roughly 4% of my portfolio capital.  CRTO is a French internet firm which has shown signs of being under accumulation of late, gauging...

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27Feb12:15 pmEST

A Win is a Win is a Win; Chess Moves

After entering UGA, the gasoline ETF, back on Wednesday  at $36.63 for a long trade, I just sold the other half of my position for about a two-point win.  As I noted, this was a smaller position size due to how thinly UGA trades at times. However, a win is a win.  And after two big wins in UGAZ in recent weeks, recognizing the rotation into...

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27Feb10:58 amEST

No Longer Between the Hedges

I am considering selling the final piece of my UGA ("University of Georgia") long, which is the ETF for gasoline.  As I noted when I initiated the position, my sizing was smaller than usual because the ETF trades thinly in terms of volumes. Nonetheless, a profit is a profit.  And at this point the ETF is no longer "between the hedges" as price...

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27Feb10:11 amEST

Remnants of Old Fear

Although the financial crisis is a distant memory for most by now, especially considering the magnitude of this bull run amid relatively low volatility, Bank of America seems to have remnants of that old fear.  Specifically, on the zoomed-out weekly chart, below, we can see that price found resistance at prior support from July 2008, which...

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