Monthly Archives: February 2015
Showing articles 21 - 30 (146 total)
25Feb1:03 pmEST
Going Long the University of Georgia; Chess Moves
I went long a small position in the UGA (which also happens to be the shortened form for the University of Georgia) ETF earlier today at $36.63. Because this is a thinly-traded ETF , I am a using a much lighter position size, roughly 1% of capital. If you are not comfortable trading thin ETFs, please skip down to my chart for the educational...
25Feb12:22 pmEST
Three Stocks on the Right Track
In addition to the short ideas we are watching, three long setups which continue to be attractive are: CRTO OVAS TTPH. I want to see a bit more strength above recent highs for long triggers. But, as you can see on their respective daily charts, below, all three are basing tightly within the context of established technical uptrends (price...
25Feb11:29 amEST
Cut and Run; Chess Moves
I decided to sell my ERY long here at $18.81 from the $19.02 entry I discussed in this blog post . This amounts to a loss of a little over 1%. As I frequently mention, the key to successfully playing the triple-levered ETFs is to have a no-nonsense approach in those times when the trade is not working for you, or is slowly drifting away...
25Feb10:23 amEST
Opening Take on the Wintry Coliseum
We have a mixed tape in the early going, with big moves lower in JAKK and rallies in GOGO (off the Delta - DAL - news, but earnings are tomorrow) and EYES catching the interest of momentum traders. Oil is also squishy at $49 as we near the EIA inventory report any minute now. My positions are mixed, too, with AKS and ERY in the green but BTU...
24Feb4:40 pmEST
Stock Market Recap 02/24/15 {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...
24Feb3:31 pmEST
Advancing a Thesis; Chess Moves
Along the same lines as the coals catching a bid for a snapback rally, and per my earlier long in BTU, the steel names could easily participate in a rally for the global materials players. As a result, I went long AKS just now, at $4.52, with a protective stop-loss below $4.30. This is roughly 4% of my trading portfolio capital. Much like BTU,...
24Feb2:22 pmEST
Picking Through the Coal Rubble; Chess Moves
Seeing as natural gas provided me with some fruitful long trades over the past few weeks, it makes sense that coal will now get into the act for some type of snapback rally. As everyone knows by now, coals have been left for dead, with bankruptcy still on the table for some of them. Nonetheless, quick trades should still be for the taking. With...
24Feb1:30 pmEST
The Extinct Shooting Star
In light of the nature of this particular bull market and all of its accompanied false breakdown and "sucker tops," it almost seems like a sacrilegious act to even mention the classic topping signs. But I am going to do it anyway, not as some form of stubbornness but rather to avoid the pitfalls of late-stage bull markets which inevitably...
24Feb12:27 pmEST
Beaming Up
Into the midday portion of the trading session, I am watching the $122.50 area on the small cap ETF, IWM. We saw a breakout above it, with Chair Yellen beaming it up this morning. However, just as soon as it broke out above the highlighted resistance trendline on the 30-minute chart, below, it came back down to "squat" at the top range. Into...
24Feb11:10 amEST
A Monster Coming Out of the Gap
Natural gas, specifically UGAZ (the triple-long ETF derived from UNG, the straight-up ETF) has, fortunately, been a monster for me each of the past two weeks. At issue is whether three times will be a charm to conclude the month of February. In a blog post yesterday, we looked at the shorter-term 30-minute timeframe, updated below, for UNG. ...
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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.
