Monthly Archives: January 2015

14Jan3:40 pmEST

Lightening Up and a Portfolio Update; Chess Moves

I covered half of my UAL short at $62.72 from $65.13 entry noted here to lock in partial gains. I am moving my stop to my entry. I also decided to cover the rest of TSLA short at $191.22 from the $206.55 entry I noted here . I will revisit it soon but don't want to get caught in a squeeze. Crude oil and the market are bouncing this...

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14Jan2:23 pmEST

Kicking Half Off the Flight; Chess Moves

I just covered half of my AAL short at $48.94 from the $53.59 entry noted here . I moved my stop-loss to my entry price. This is more "scaling and trailing" winning positions, as is my style. I still believe the airlines have more downside. But given how volatile the market has been, and how resilient bulls could easily still be, I am going...

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14Jan1:37 pmEST

Chess Gives His Assessment of the Current Market Structure

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14Jan12:39 pmEST

More Scaling and Trailing Winners; Chess Moves

Picking off some quick wins here and there, I covered half of my Visa short just now at $254.84 from the $260.30 entry I noted in this blog post . I trailed down my stop to my entry price on the short. Visa is essentially back down its lower Bollinger Band and short-term oversold, which is why I am scaling some gains here. Overall, the...

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14Jan11:45 amEST

Probe the Prober; Chess Moves

A general rule in technical analysis is that the more times a well-defined price area or trend is probed, the more likely it is to eventually give way as that level inherently loses its luster. In many respects, it is a self-fufilling prophecy as many seem to be watching the same thing. So, it is a well-defined support trendline is lost, then...

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14Jan10:49 amEST

The Cult of Amazon Has Turned Into Shuffleboard Players in Boca Raton

The chart for Amazon.com has been the poster child for this market lackluster leadership of late, in terms of the marquee issues in the Nasdaq sporting their glaring underperformance. While it is certainly true that many healthcare and biotechnology issues have given a spirited effort to pick up the slack, in the end these marquee names (AMZN...

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14Jan10:09 amEST

Electric Slide Lower; Chess Moves

I just covered half of my TSLA short at $192.22 from my posted entry at $206.55 which can be found here, from last week. The stock is gapping down on some bad news last evening. But I believe it was ripe to come in anyway due to lower oil and previous upside momentum now in danger of going over the other side of the mountain. I moved my...

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13Jan4:55 pmEST

Stock Market Recap 01/13/15 {Video}

PLEASE NOTE: The audio for tonight's video may be a bit weak. I apologize for any inconvenience and am working to fix it as soon as possible. Thank you.  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...

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13Jan3:42 pmEST

Into the Bell Adjustments; Chess Moves

I sold final piece of my TVIX long at $3.32 here instead of swinging it, from $3.00 entry posted earlier today. I am all out of volatility plays for now. I am also holding onto the other piece of my levered silver long, after taking partial profits this morning, due to the intraday consolidation seen on the SLV chart, below. Note the orderly...

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13Jan3:08 pmEST

Two Overlooked Charts Today

First, copper is also basically crashing, just as oil has been, to little fanfare. The first chart, below, of the daily timeframe for the cooper ETN indicates as much. Although "Dr. Copper" has not been a good market tell since about 2010, the violence of the selling is something worth noting, and another reason to not get too complacent...

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