Going After Google; Chess Moves

12Mar4:28 pmEST

Stock Market Recap 03/12/15 {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...

12Mar3:44 pmEST

Long Gogo Into the Bell; Chess Moves

Into the closing bell, I went long GOGO at $19.93 for a daily chart bull flag/short squeeze breakout. My stop-loss is under $19. GOGO is a heavily-shorted stock, and for good reason--The in-flight WiFi firm was smashed after is IPO last year. But not it may be trying to come back to life. And the daily chart indicates as much, with a bull...

12Mar3:15 pmEST

Covering Up Some Late-Winter Laggards; Chess Moves

Staying true to my word, I am going to ditch a few of my holdings in order to either lock in wins, prevent winners from turning into losers, or keep losses small. Specifically, I covered my CMG short at $669.64 from my entry of $660.16 for a loss. I would rather step aside here than risk the name drifting up on me without a profit cushion....

12Mar2:18 pmEST

Shifting Gears; Chess Moves

I covered the rest of my FB short, just now at $78.78 from my $80.19 posted entry and rolled that money over to a new TSLA short at $190.88. I had previously scaled half of the FB short here at $77.88 . While FB may just be getting started in terms of rolling over, I am seeing more relative weakness today out of TSLA. And I know I can always...

12Mar1:11 pmEST

Intel's Long-Term Overhead Supply: You Can't Stop What's Coming

As is inevitable in an unstoppable bull market, you hear nonstop theories as to why old-fashioned technical analysis "no longer works," as was said at the 2000 and 2007 peaks as well, not to mention in 1987, even in the trough of the 2002/3 and 2008/9 bears. One popular declaration is that long-term overhead supply (or likely resistance which...

12Mar12:18 pmEST

Symmetry Worth Observing

Headed into the east coast lunch hour, the S&P 500 Index is coming to terms with prior resistance from Tuesday morning's gap down in the market. Specifically, on the SPY, actively-traded ETF for the S&P, we can see as much on the 30-minute chart below. $206.80, just above, acted as resistance thus far today. Headed into the afternoon, I am...

12Mar11:40 amEST

Keep an Eye Out for Barnes and These Other Ideas

Starting with Barnes (B) on the first daily chart, below, here are a few actionable long setups on the radar if today marks the beginning of a broad market rally. I still have my doubts as to whether we are going to imminently sprint back to new highs from here. But it is always important to be open-minded and prepared to shift gears in a New...

12Mar10:58 amEST

A Clear Setup for the Underwater Names

With the U.S. Dollar finally pausing, at least thus far this morning, I am keeping an eye out for silver. We know silver has been dreadful over the last six weeks especially. But it may be ripe for a quick bounce trade on the long side. On the daily chart for the silver ETF, below, note yesterday's "hammer" upside reversal candlestick (it...

11Mar4:57 pmEST

Stock Market Recap 03/11/15 {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...

11Mar3:34 pmEST

Going After Google; Chess Moves

I went short GOOGL at $557.15 with a cover-stop over $585. Playing for the right shoulder of a weekly topping pattern. This short position amounts to roughly 4% of my trading portfolio capital. The theory behind the trade is that Google has just staged a snapback rally after being a notable laggard for quite some time. This rally has excited...