Monthly Archives: December 2014
Showing articles 91 - 100 (152 total)
11Dec2:30 pmEST
The Endgame for Oil Wars
While equities are still largely bouncing this afternoon, even if quite a few parts of the market are off their highs, crude oil remains in search of a bottom. On the monthly chart for crude futures, below, note the significance of the $60 level, going back many years. Of course, we have to then go to the next level of thinking, considering...
11Dec1:10 pmEST
Separating Illusion from Reality
The zoomed-out 30-minute chart for the Russell 2000 Index ETF, below, pretty much illustrates the wild swings (or "violent indecision" on the part of market players) we have seed in the tape for a good while now. Eventually, the marker will distinguish the illusion from reality, in terms of whether we are topping or instead gearing up for an...
11Dec11:16 amEST
Bringing Home the Bacon with These Two Ideas
I am skeptical of the market bounce so far, as it has the hallmarks of a temporary relief rally. The Russell 2000 Index closing over 1,190 would change that thesis to be more bullish, though. In the meantime, if the market rally continues I still have my eye on RRGB, one of the better casual dining long setups. On the first daily chart, below,...
11Dec10:25 amEST
Cutting Two Early Losers; Chess Moves
As you might imagine, I do not like the action in both natural gas and the biotechnology sector this morning, relative to the long and short positions I hold in each, respectively. Because my style is to religiously keep losses contained, I cut both positions here. I sold UGAZ in front of the natural gas inventory report at $8.68 from the $9.04...
11Dec12:46 amEST
Late Night Strategy for Thursday
On the long side, BKW is back in contention after Wednesday's stunning outperformance to the bloody market sell-off. On the first daily chart, below, a move back over $35 can trigger a long starter position, especially if the broad market is in bounce-back mode. And on the short side, extended airlines like UAL printed exhaustion candles, seen...
10Dec5:24 pmEST
Stock Market Recap 12/10/14 {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...
10Dec3:12 pmEST
Making More Chess Moves
I closed out the rest of my NUGT long at $13.20, from my $13.09 entry, to avoid turning a winner into a loser. Yesterday, I took off part of the nice win in this blog post . As usual, precious metals and miners are tough to trade, which is why I am so fastidious about staying disciplined with them. I also went long BIS, the ultra-short...
10Dec2:04 pmEST
Adding to a Winner; Chess Moves
I added more to my UNP short position, marking it up to a 6% portfolio position now. I added to the short, just now, at $113.72 after my original entry at $118.73 in this blog post . Rails continue to get hit. And the UNP hourly chart, below, is flashing signs of breaking down below a bear pennant pattern (highlighted). I am keeping my...
10Dec1:12 pmEST
Swimming with Sharks; Chess Moves
Natural gas has been a tough one to trade for a while now. But I am fortunate to have taken down some big winners in the UGAZ, triple-long natural gas ETF, in many instances over the past year or two due to disciplined trading, technicals, and strict stop-loss adherence. With this in mind, I went long UGAZ at $9.04 with a protective stop-loss...
10Dec12:31 pmEST
Steve Wynn Wrapped in Red for the Holidays
WYNN and the major casinos have been perennial short setups I have charted for a while now, though I am still surprised by how violent the move lower has been. On the first daily chart, below, note that WYNN has staged, for all intents and purposes, a mini-crash. The stock is too oversold to short, but not my kind of a long either, and risk...
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About
“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
