Monthly Archives: March 2015
Showing articles 21 - 30 (184 total)
27Mar3:53 pmEST
Choose Those Fights Carefully
While it is often said in Wall Street and the gambling world that "scared money is dead money," and there certainly is much truth to that axiom, it is also true that those who tend to frequently throw around that phrase are using it as a crutch to take on far more risk than they know is sound. In my case, I am still playing the short side with...
27Mar2:55 pmEST
Not Assuming Anything; Chess Moves
I went long ERY at $20.97 with a protective stop-loss below $20, playing for the energy sector bear market to resume via this triple-bear ETF. Many traders and value seekers seem to be assuming that crude and energy stocks have bottomed. As I have stated before, a long, sloppy, sideways range for crude and the XLE (energy sector ETF from which...
27Mar2:17 pmEST
Update on My Positions
After previously scaling gains on them this week, I remain long FAZ ($11.97 entry) X ($24.24 entry0 and UVXY ($15.53, $15.83 entries). I added back to UVXY yesterday and, even though it is slightly lower today, I have not seen enough to push me out of the long volatility ETF. As for FAZ, I am pleased to see the triple-short financial sector...
27Mar1:22 pmEST
A Focused Intraday Look
Earlier this week we observed the IWM, ETF for the small market capitalization issues housed in the Russell 2000 Index. We looked at the 30-minute timeframe and surmised that the triangle (highlighted up top, with the upper light blue lines) would be a big key as to whether the small cap outperformance on Monday and Tuesday would amount to a...
27Mar12:41 pmEST
Three Confirmed Tops Staying Weak
As we have profiled for many months on end, AA CAT and IBM are all sporting charts which have confirmed, major topping formations after prior uptrends on longer-term timeframes. Their persistent weakness without much in the way of a meaty, tradable rally still renders them viable short trading ideas on any further weakness. Also note that all...
27Mar11:43 amEST
Two Ideas Putting in the Work This Week
OREX is still working on the long side, while TSLA is weak and getting weaker as a short idea. Even though many eyes seem to be on them, in terms of traders on Stocktwits, both setups are following their respective trends and continue to merit watching into next week.
27Mar11:02 amEST
Last Chance to Refuel
A few weeks back, we observed the $21.40 level on the GDXJ, ETF for junior gold miners seen on the daily chart, below, as being critical last-stand support before a major bear market breakdown ensued and likely saw the bear resuming for the metals and miners. Instead, bulls defended that level on a weekly closing basis, leading to a reasonably...
26Mar4:31 pmEST
Stock Market Recap 03/26/15 {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...
26Mar3:51 pmEST
Adding Back to Volatility Into the Bell; Chess Moves
As a way to express the idea that the VIX likely goes to 20 soon, I added back to my UVXY long here at $15.83 from my $15.53 entry after previously scaling gains. I am playing for another volatility spike. The position is now back to full size. As I have stated before, UVXY is not for the faint of heart, being a levered long volatility ETF. So,...
26Mar3:17 pmEST
Final Hour Notes on a Slow Day
Apart from taking partial profits this morning in my UVXY long, I have not been trading much today as the market has been in a choppy range. Regarding specific setups ICPT sure is distinguishing itself, seen on the daily chart, first below. On strength and into a market rally this one would be worth watching as a long idea. Meanwhile, SNDK,...
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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.
