Monthly Archives: February 2015
Showing articles 111 - 120 (146 total)
07Feb12:28 amEST
Back Down to BISuness Into the Weekend; Chess Moves
I went long $BIS at $41.79 into the weekend with a stop below $40. This is a 4% portfolio position. With the biotechs in the IBB ETF still teasing a major rising wedge breakdown, I am going to take another shot at shorting them into next week. I recognize they have been infallible, in many respects. But the setup is still there and I am still...
06Feb3:17 pmEST
Just Add to It; Chess Moves
I added to my NKE short at $92.06, bringing the position up to 6% of my trading portfolio capital. My original entry and thesis for the NKE short can be found in this blog post . I entered at $92.93 with a stop over $97. I am going to keep that stop in place. NKE is still threatening a breakdown from well-defined support. Bulls had numerous...
06Feb2:53 pmEST
Sending Out an SRS; Chess Moves
With the intention of swinging it into next week, I went long SRS, the ultra-short REIT ETF (basically the double-short version of IYR), at $11.56 with a protective stop-loss below $11. This position is roughly 4% of my capital. REITs, utilities, and even some consumer staples are seeing notably weakness as yields rise this week, Note how they...
06Feb1:54 pmEST
The Quick and the Dead; Chess Moves
I sold off a few pieces of my UWTI long since my last post , first at $3.87 and now at $3.89, from my earlier $3.69 entry. I moved my protective stop-loss to my entry price, and now have a 1/2 position in the triple-long crude ETF. This is quick day-trading, given the volatility in crude, still mired in a steep downtrend, and given the...
06Feb12:40 pmEST
Going for a Scalp with the Oil Cowboys; Chess Moves
In what may turn out to be merely a day-trade, I went long UWTI (triple-log crude oil ETF) at $3.69 with a protective stop-loss below $3.55. My theory is still that crude is a trading vehicle until further notice, in lieu of calling a big bottom or playing for another crash. As such, quick trades can be found here and there. On the 30-minute...
06Feb11:28 amEST
Down to One
My only position at the moment is a NKE short, which I entered at $92.93 with a cover-stop over $97. I am barely down on it down, and am playing for the 100-day moving average (whitish line on daily chart, below) to break as support next week. NKE is lagging the tape today, and has yet to put any real pressure on me this week, deposit the...
06Feb10:31 amEST
Cutting the Rest of the Miners Into a Gap Down; Chess Moves
After setting up in a promising technical manner, the precious metals miners have taken a turn for the worse this morning. Whichever reason the market had after the jobs report for dumping gold and the miners is irrelevant to me--Rather, quite simply, the technical bullish thesis was dealt a short-term blow this morning. As a result, after...
05Feb4:32 pmEST
Stock Market Recap 02/05/15 {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...
05Feb3:20 pmEST
Late Afternoon Chess Moves
I sold off another piece of my JNUG long here at $35.39 from the $33.40 entry, noted yesterday in this blog post , to scale more gains I am now down to about 1/2 position of the original position size. Also, if you missed my update in my last post, I sold the UGAZ long from earlier today at $2.48 for a loss from y $2.58 entry. It was a tight...
05Feb2:07 pmEST
Let's Help the Consumer with These Prices
It is a grinding day in the tape, overall, with the small caps pushing higher this afternoon and other indices following suit. My sense is that traders are downright exhausted from the previous several weeks of violent price swings and overnight moves, not to mention whipsaws and a steady flow of news which seems to be flipped on its head the...
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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.
