Monthly Archives: March 2015
Showing articles 121 - 130 (184 total)
11Mar3:02 pmEST
Down the Other Side of the Mountain
Headed into the final hour of trading today we can see the SPY, actively-traded ETF for the S&P 500 Index, below on the hourly timeframe illustrating that price "came around the mountain" back down to its lows from the second week in February, denoted by the horizontal light blue line. This has turned out to be the scene of a skirmish today,...
11Mar1:47 pmEST
I Think I Want My Money Back; Chess Moves
I covered more of my LVS short here, at $51.82, from my $55.34 entry to scale even more gains. As you know, I have been trimming this winner along the way, as it slides down. I now retain about 10% of my original position, letting ride, so to speak, to see if casinos truly do wipe out. My cover-stop is still at my entry...
11Mar1:04 pmEST
Drawing Up Some Afternoon Plans
I still retain half of my SRS long, which is the ultra-short ETF for the REITs, after taking partial gains earlier this week. On the first chart below, which is the daily timeframe for the IYR (straight-up ETF for the REITs), we could easily be seeing a bearish continuation pattern after it hit my initial target of the 100-day moving average....
11Mar11:58 amEST
It's All About Friday Night Now
Friday is going to be incredibly important this week, but not for social reasons. Instead, with the upside reversal we are seeing in the gold miners today, virtually across the board, we will need to see if the gold bugs can salvage a last-minute "save" at prior all-time lows we looked at on the GDXJ ETF yesterday. Updating that chart, below,...
11Mar11:11 amEST
The Reality of Competing Forces
Despite how many are trying to argue the correlation is historically not particularly important, the fact of the matter is that crude oil is weakening while the U.S. Dollar remains a runaway freight train. True, natural gas is in its own world and strong today as the likes of gold and crude threaten to break down yet. But regarding crude, if...
11Mar10:29 amEST
Half Off of the Big Cat; Chess Moves
I covered half of my CAT short here at $79.46 from the $83.03 entry a few weeks back I noted in this blog post, in order to scale gains. I trailed my stop down to my entry price. Caterpillar remains weak and is flirting with a multi-year breakdown below the $78-$80 area, which is an important level dating back nearly a decade. And as much as I...
10Mar4:39 pmEST
Stock Market Recap 03/10/15 {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...
10Mar3:25 pmEST
Playing for Lowe's to Make Lows for a Change; Chess Moves
I went short LOW at $73.32 with a cover-stop over $76. I am looking to swing the home retail giant and am playing for 20-day moving average to break down. The three-headed home retail giants of HD LOW SHW have been on multi-year tears. But I suspect those steep long-term trends are ripe to be correct themselves. On the weekly chart, below,...
10Mar2:37 pmEST
Covering Up for Privacy on Facebook; Chess Moves
I just covered half of my FB short at $77.88 from my posted $80.19 entry last Friday here , in order to scale some immediate gains in the marquee name. I will trail my stop down to my entry price. Overall, the short thesis remains intact for FB and its chart. But I am simply staying methodical with profits on the short side until I see more...
10Mar1:50 pmEST
Victims of the Runaway Dollar
In the face of a runaway U.S. Dollar, still running away higher out of the weekly chart bull flag we looked at two weekends ago in the UUP ETF, most commodities continue to get pounded. In particular, crude oil, gold, silver, and most soft commodities are essentially out of action for longs, for now. Natural gas has also weakened but is not...
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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.
