MarketChess

11Dec10:13 amEST

Ready to Go At a Moment's Notice

Natural gas is red-hot this morning, out in front of the commodity complex as the CPI print confirmed what we basically knew anyway: Inflation is reaccelerating into Fed rate cuts. Further, while it is certainly true that uranium and nuclear reactor plays are enticing on the long side, the more imminent, realistic play for AI energy is natural...

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09Dec1:55 pmEST

They Couldn't Break the Chiner

We have what looks to be some late-stage bifurcation rotation again today, with the downtrodden China stocks getting a secondary boost off recent lows after their early-October pop. On the first chart, below, of the weekly timeframe for the FXI China country ETF, we can see the bull flag potential uncoiling higher today, with names like BABA JD...

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06Dec3:38 pmEST

Afternoon Update 12/06/24 {Video}

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05Dec3:39 pmEST

Bull Market Don't Die of Old Age

The old Wall Street is adage is that bull markets, "do not die of old age," meaning it is impossible to put an expiration date on a bull run merely because it has already rallied for many years.  That said, bull markets most certainly do die when the final marginal buyer has been exhausted and the market is essentially all "bought up" with...

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04Dec3:10 pmEST

Political Trades Require Cunning Instincts

One phenomenon I have noticed over the decades with each incoming Presidential Administration has been the temptation to find the new President trade. With Obama, it was green energy, for example.  But those trades rarely have staying power. In fact, the opposite usually happens, with sectors you expect to lead, lagging, and sectors you expect...

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03Dec3:37 pmEST

Seeing the Oil Barrel Half Full Today

Crude oil is up nicely today while natural gas is taking a shellacking. From my perch it is instructive to see natural gas-related stocks, like Northern Oil (below on the updated daily chart) basically ignore the natty selloff and remain either pushing higher or tightening up for fresh consolidations, such as with CTRA.  Going forward, we still...

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02Dec2:31 pmEST

SMCI's One-Person Committee is Part of a Team

Courtesy of @unusual_whales on X: Super Micro Computer, $SMCI, announced the completion of a review by an independent Special Committee, which consisted of only one person, and which found no evidence of misconduct or fraud by the company’s management or Board. As ridiculous as a one-person "Special Committee" sounds, especially for...

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29Nov9:07 amEST

Morning Prep 11/29/24 {Video}

The following video is an example of the types of Morning Prep Videos I present to Members of the Market Chess Subscription Services on a daily basis.  Please click here for more details about joining to access these videos regularly, as well as plenty of other features.

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26Nov3:09 pmEST

Saylor is Due for Rough Seas

The broad market continues to sleepwalk sideways-to-higher on a daily basis as we zoom towards the holiday season. Tomorrow is one of the most traveled days of the years (apparently the busiest day of travel each year is the Sunday after Thanksgiving), but we do have a deluge of data tomorrow morning which could move markets.  That said, the...

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25Nov2:53 pmEST

Beset By Bessent, And Other Political Trades

I have traded through enough presidential cycles to know that it is not just Trump, and it is not just Republicans--Every single new administration is full of guesswork on Wall Street as to the next "hot trade" based on the incoming President.  However, more often than not those trades wind up being short-lived, whether it be Obama and clean...

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