Monthly Archives: March 2015
Showing articles 81 - 90 (184 total)
18Mar1:48 pmEST
Shedding Some Light on This House
As a follow-up to my last post, where I announced a new HD short, here is that Home Depot zoomed-out daily chart. Note that the stock has seen no 200-day moving average (yellow line) test by price since last summer. With peers LOW SHW flashing notable weakness today in front of the Fed, I suspect that the Depot will follow suit. As we know,...
18Mar12:54 pmEST
The Triumvirate of Steep Trends; Chess Moves
I just went short Home Depot (HD) at $113.85 with a cover-stop above $118, playing for the long-term steep trend to finally crack. Today, peers LOW and SHW, comprising the three-headed monster or triumvirate of very steep long-term winners in the housing retail space, are showing notable weakness after their latest post-earnings pushes higher. ...
18Mar11:43 amEST
Another Natural Gas Incident
The 30-minute chart, presented below, for the UNG ETF for natural gas shows the $14.53 level as being important resistance above for bulls to crack. If they do crack it, I have UGAZ on my radar for at least a day-trade long idea.
18Mar10:55 amEST
Let's See if It's in the Cards
The credit cards, that is. My Visa short, seen below on the daily timeframe, is off to a solid start, as the highlighted bear flag looks to be breaking below. I will consider an add if the weakness holds after the Fed events later today. As for the broad market, we are seeing some mild weakness, with names like BABA GPRO failing to stage...
17Mar4:27 pmEST
Stock Market Recap 03/17/15 {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...
17Mar3:52 pmEST
Toughness on the Irish Holiday; Chess Moves
I decided to cut my GPRO long at $40.60 from the $41.01 entry this morning for the 1% loss, rather than swinging it. GPRO is still in a fierce downtrend and I am going to stick to my discipline of not swinging it without at least some profit cushion. I took profits in most of my GOGO long today for a nice win, and will let a final small piece...
17Mar3:05 pmEST
One Word for New Ideas: Plastic
I am already short AXP and V. And I continue to see setups on the short side emerge in the credit card space. If you have followed my work for a while, then you know back in 2010-2011 I wrote up the bullish prospects for major credit card players as long-term plays, such as DFS and MA, based on their multi-year coiling chart patterns. And now...
17Mar2:11 pmEST
Martha Regaining Street Cred
After basing out for several years following a swoon, Martha Stewart Living Omnimedia, Inc. is showing some serious sign of late in the last few weeks. I had previously been looking for some type of bottom to be scalloped out, but the stock continued to be "dead money" for quite some time, grinding sideways to a halt. However, I was reminded...
17Mar12:55 pmEST
Taking in More Green on a Green Holiday; Chess Moves
i just sold another piece of my GOGO long at $21.69 from the $19.93 entry last week. I am taking advantage of more intraday strength in the name, in the face of a red market, since I took initial gains this morning here . I am now down to about 25% size of original position, with my stop-loss raised to my entry price. As for new ideas, I...
17Mar12:14 pmEST
Setting Sail on the High Dow Seas
The new short Visa trade I entered in my last blog post is going to be a big one, insofar as it pertains to the Dow Jones Industrial Average. Note that Visa is now, by far, the most heavily-weighted Dow component ( click here for source). The theory behind the short trade can be found on the daily chart, below. We can see a well-defined...
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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.
