Monthly Archives: March 2015
Showing articles 171 - 180 (184 total)
03Mar1:31 pmEST
A Quick Spot for a Paper Tiger; Chess Moves
As I noted in my last blog post, I went long DUST at $14.61 with a tight stop-loss below $14.30. This position is about 4% of my trading portfolio. DUST is the triple-bearish ETF for gold miners. The miners have been struggling of late, and the GDX (from which DUST is derived) may be losing its 50-day moving average (dark blue line) today,...
03Mar12:42 pmEST
Lunchtime Observations and a Chess Move
Despite the weakness in healthcare and especially biotechnology issues today, names like OREX illustrate the danger of shorting individual names in that space here. That is one reason why I prefer to go long BIS for shorting the sector, in lieu of individual names, especially with the elevated risk of wild short squeezes and M&A activity at any...
03Mar11:34 amEST
Active Trader's Guide to Apple
We looked at the $130.30 level on AAPL as being an important short-term point of reference for active and day-traders in this large, liquid, premier stock. Updating that analysis, note that chart patterns can and often do morph into larger ones. And on the 30-minute chart for the heavily-weighted Nasdaq issue, we can see the highlighted...
03Mar10:33 amEST
Just Someplace Warm, Ok?
As March comes in like a lion for many parts of the country, the market is pausing a bit this morning. My positions are drifting against me, with my CRTO long slightly red my CAT short rallying a bit higher. I have been playing super tight of late, opting for a grinding approach of very small losses and scaling fast gains in UGA after locking...
02Mar4:32 pmEST
Stock Market Recap 03/02/15 {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...
02Mar3:51 pmEST
Staying Out of Trouble Into the Bell; Chess Moves
Into the bell, I decided to sell my FAZ long at $12.18 from the $12.34 entry I noted last week for another very small loss. As we have discussed, taking a series of small losses is part of my philosophy as a trader. In this case, the market is showing signs that it could easily be entering a "blow-off" move higher, where every single short is...
02Mar3:05 pmEST
Switch-Hitting When Necessary
We may very well now have a short trade now setting up with the gold miners, into today's weakness. On the GDX ETF daily chart, below, note the mini bear flag breakdown (light blue lines) today. Gold bugs must defend that dark blue line now, which is the 50-day moving average, or I suspect shorts will regain full control in the precious metals...
02Mar2:16 pmEST
An Up-Close Look at a Position
I added to my CRTO long this morning, as noted on this site earlier today, largely due to the continued technical bullish signs. On the updated daily chart, below, note that price still has room to push higher yet before becoming even mildly overbought at the upper Bollinger Band. Furthermore, the volume pattern, at the bottom of the chart,...
02Mar1:22 pmEST
Rotating with Maturity
While nothing like we saw in the first half of 2008, some rotation into the ag names is still being seen in the current market, consistent with a maturing bull run. AGU and MOS have been as impressive as any of them, bit may be a bit tough to chase here early this week without a benign pause occurring first. BG MON POT have been disappointing...
02Mar12:00 pmEST
Fishing in a Frozen Pond
Playing bonds on the short side and looking to short the rate-sensitive sectors, such as REITs and utilities, feels a bit like the first time you try to fish in a frozen pond before you get the hang of "ice fishing." Nonetheless, the bond short will necessarily have to stay on the radar for another entry as the rate-sensitive sectors continue...
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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.
