Monthly Archives: April 2015
Showing articles 91 - 100 (139 total)
09Apr1:44 pmEST
A Dynamite Slice of Americana
To update our look at the U.S. Dollar from yesterday, the orderly consolidation appears to be resolving higher. Keying off the UUP ETF, below, on the daily timeframe, note buyers attempting to clear and now hold over the key $26 level we observed yesterday. Of course, beyond the Dollar action itself are the potential cross-currents and inverse...
09Apr12:40 pmEST
Lunchtime Charts
First, my new AAPL short (noted in my last blog post), referring to the first daily chart, below. For my short to have a chance, the stock needs to lose its 50-day moving average with authority. So, consider the short a "tester" to see if the seemingly indomitable Apple can finally take a hit. If AAPL does lose its 50-day, $120 is the primary...
09Apr11:15 amEST
Standoff at the Open; Chess Moves
Although it looked like another "here we go again" open higher this morning, sellers presented themselves particularly with the small caps. On the IWM hourly chart, below, ETF for the Russell 2000 Index, we can see the chart consolidating in recent weeks near its all-time highs. But the strength this morning was sold and now we have a potential...
09Apr10:37 amEST
Starting to Come Together
The thesis we looked at yesterday for rates to head higher may very well be starting to play out. Specifically, the rate-sensitive sectors in equities, REITs and utilities, are weak this morning (IYR and XLU ETFs as proxies, respectively), while Treasuries are looking heavy and vulnerable to following suit, keying off the TLT ETF. As a result,...
08Apr4:27 pmEST
Stock Market Recap 04/08/15 {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...
08Apr3:51 pmEST
Clarifying a Point About the Bulletproof Dollar
Into the bell, I just want to clarify that in order for me to presume the Dollar has broken up and tut from the bull flag consolidation we have been discussing, I want to see UUP ETF clear and hold over the $26 level. If we do see that, then I would also assume crude and energy stocks could be in for some further downside, if not most...
08Apr3:24 pmEST
Swimming the Channel
With the Dollar strengthening and crude oil not catching much of a bounce after the FOMC Minutes today, energy stocks may be setting up for another short. Heavyweights such as CVX XOM remains quite weak overall, though the bull case is that they are putting in a long, sloppy base bottom. Still, the XLE, ETF for the energy sector, shows an...
08Apr2:42 pmEST
Well Hello My Name is Simon, and I Like to Give Clues About Rates
Another trade which may be setting up is to go short Treasuries. To my eye, the rate-sensitive commercial real estate stocks, or REITs, will be a good clue as to whether that trade comes to fruition. On the daily chart for the IYR, sector ETF for the REITs, note how price has made a series of lower highs but higher lows (light blue lines) since...
08Apr1:33 pmEST
A Beautiful Flag Up Top
Despite the U.S. Dollar and crude oil rising in unison yesterday, I am still not quite prepared to fully believe that the inverse correlation between the two has reached its conclusion. In addition, commodities as a whole remain suspect to me for anything more than quick swing scalp attempts, be it my win in NUGT or loss in UGAZ, as recent...
08Apr12:12 pmEST
Stopped in Its Tracks
Here is an update to that ongoing hourly SPY chart we have been observing. On the zoomed-out look, below, note the $208.50 area acting as resistance of late, after buyers valiantly defended that area just above $204 again in recent weeks. The upper and lower light blue lines I have drawn denote as much. I suspect bulls are going to need to...
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“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.
