Monthly Archives: April 2015
Showing articles 101 - 110 (139 total)
08Apr11:17 amEST
No Dice on This One; Chess Moves
Honoring my planned stop-loss, I sold my UGAZ long (levered long natural gas ETF) at $2.20 from my $2.42 entry for a loss. On the UNG ETF daily chart, below, the upside breakout to the highlighted (in light blue) wedge failed to sustain itself for a tradable leg higher. Yesterday's initial rally was promising, but sellers proved to be too much...
08Apr10:48 amEST
China Wearing That Game Face
With the FXI gapping much higher this morning, after several weeks prior of moving up, it is easy to say that the China country ETF is now overbought--And it is. But the monthly chart of one of the top components China Mobile, seen below, adds some perspective. You can see after the 2007/8 run-up and crash that we had a long period of "dead...
07Apr4:41 pmEST
Stock Market Recap 04/07/15 {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...
07Apr3:55 pmEST
Don't Like This Close For These Positions; Chess Moves
Into the bell I elected to sell my P long from earlier at $16.47 from my earlier $16.63 entry for a small loss, roughly 1%. I didn't see the action I wanted to after I bought to swing it overnight. I also sold the rest of my NUGT long at $10.87 from my $10.31 entry to lock in the rest of that win after scaling profits along the way...
07Apr3:22 pmEST
Crude Oil; Overbought in a Bear Market and What it Means
Keying off the USO ETF daily chart, below, as a rough poxy for crude oil we can see that black gold is now pushing its upper Bollinger Band after a multi-week rally. This circumstance typically means that oil is now short-term overbought. When combined with the fact that the longer-term moving averages (yellow and red lines, well above price,...
07Apr2:28 pmEST
Sounds Like a Bird
Here is a quick look at TWTR, the hot stock of the day with plenty of eyes on it and hands in it. On the 15-minute chart, below, $52.80 and then $53.28 look to be the next hurdles for buyers to clear above. Thus far, the intraday consolidation looks orderly without too much heavy selling, meaning buyers likely remain in control. Overall, the...
07Apr1:32 pmEST
Interrupting the Bear Party in This Name
As I mentioned in my last post, I went long Pandora, playing for the heavily-shorted beaten-down name to snapback back before earnings later this month on April 23rd. On the daily chart, below, note the 50-day moving average (dark blue line) sloping down with price for quite some time now. If even a snapback, counter-trend rally is going...
07Apr12:46 pmEST
Going Long a Destitute Stock; Chess Moves
I went long at Pandora at $16.63 with a protective stop-loss below $15.75. Pandora is a hated stock for many reasons, most notably the performance of the stock in recent quarters as well as competition in the online personal radio music business. But I think the stock can squeeze its numerous shorts higher before earnings in a few weeks. I...
07Apr11:52 amEST
A Market of Warriors
Although the major indices have yet to break to new highs, many individual names are starting to perk up and fight hard for breakouts. CRM was a name we looked at over the weekend as a long idea, acting well today with its strength up and out of the highlighted daily chart consolidation, below. Other similar setups are CUDA and CYBR. In...
07Apr10:43 amEST
Blending in Well
The triumvirate of plays on the shift from written to electronic medical records, CERN MRGE QSII, are acting reasonably well, led by MRGE. CERN is next in line as the larger cap name, followed by QSII as more of a speculative play. MRGE and CERN seem to be blending in well to any market rotations taking place, as both stocks have been basing...
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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.
