More Than Just Teck

31Mar4:25 pmEST

Stock Market Recap 03/31/15 {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...

31Mar3:29 pmEST

How Textbook is Too Textbook; Chess Moves

I went long BIS at $34.11 with a stop-loss below $32. BIS is the ultra-short ETF for the biotechnology sector. As we all know, shorting biotechs has been as tough as bet as it gets, with the resilience of the sector's bull run overpowering any apparent sign of an imminent correction. Still, the action in the major biotechs like CELG and GILD...

31Mar2:45 pmEST

Winners Stay Winners; Chess Moves

With today's market sluggishness, I am still not too keen on pressing longs here. As a result, I am focused on not letting winners turn into losers. I had previously scaled profits at higher levels in my JUNO and X longs. But with this afternoon's weakness I am electing to sell out of the remainder of both positions to protect wins on the...

31Mar2:00 pmEST

Betting on the Credit Card Thesis; Chess Moves

I went short MasterCard, MA, at $87.02 with a protective cover-stop above $93 on a closing basis. For a while now, I have been bearish on financials due to their underperformance and even the mighty credit card plays, despite how impressive their rallies have been on a multi-year basis. But with chinks in the armor seen in credit card plays...

31Mar1:06 pmEST

View from the Shoreline of Support

From the proverbial shoreline of support which we looked at last week, the SPY (actively-traded ETF for the S&P 500 Index) has since staged a multi-day bounce. Recall those hourly charts of the SPY and QQQ, as the SPY hourly is updated below to show the bounce off the light blue horizontal line. Until this broad range is broken, in terms of...

31Mar12:23 pmEST

Adding to a Position; Chess Moves

I added to my GILD short position just now, at $98.92, after my core $100.46 entry early last week here . On the updated daily chart, below, I am simply pressing for the 200-day moving average breakdown (yellow line), and the base breakdown (light blue line). My cover-stop is still above $105. Earnings are scheduled for April...

31Mar11:32 amEST

A Quick Drink from the Cup; Chess Moves

I just sold off 1/3 of my long JUNO position here, at $64.30 from the $60.42 entry I noted yesterday in this blog post . I also moved my stop-loss up to my entry price in order to protect the winning position. JUNO is clearing the cup-and-handle setup we have been discussing, but it is running hot in a sluggish tape. So, taking some...

31Mar11:08 amEST

That Movie Where Schillinger Plays the Pregnant Teen's Father

Into a soft opening tape this morning, my JUNO long is threatening the cup and handle breakout we looked at yesterday. Holding over $62 is going to be this key, to be sure. Note that this biotech move is happening while my GILD short moves lower, and other titans like CELG also represent actionable short setups, breaking down from a bear flag,...

30Mar4:28 pmEST

Stock Market Recap 03/30/15 {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...

30Mar3:41 pmEST

More Than Just Teck

Teck Resources appears to be up nicely today on a report of a potential merger. On its face, it may seem like an isolated, stock-specific move. But it is also worth looking at the action in there base metals and mining firms today, including SCCO and FCX. There is some interesting strength worth discussing on my recap after the bell today in...