Monthly Archives: April 2015
Showing articles 51 - 60 (139 total)
16Apr11:25 amEST
Fatherly Advice to Juno
After yesterday's gap higher above the major $62 breakout level, biotech JUNO pulled back into it this morning. On the hourly chart, below, we can see the multiple breakout attempts which initially failed. However, buyers did not entirely give up the ghost either, as price stayed within contention of breaking higher yet. Specifically, if...
16Apr10:18 amEST
Watch Duke if the Bond Crazies Start Winning
The top holding in the XLU, ETF for utilities, is Duke Energy, comprising more than 9% of it. I remain short XLU outright, at $44.26 with a cover-stop over $46. Regarding DUK, they do not report earnings until May 1st. And gauging the daily chart, below, we can see that like most "utes" it is struggling below its 200-day moving average and at...
15Apr4:35 pmEST
Stock Market Recap 04/15/15 {Video}
Please Note : Market Chess Subscription Services Will Launch Tomorrow Evening, Thursday, April 16th, with a One-Time Discount for the First Sign-Ups. I discuss the features and the pricing for the services at the top of tonight's video, below. Enjoy tonight's video, and enjoy your evening. Direct Vimeo Link - Click Here
15Apr3:48 pmEST
Interesting Spot for Netflix Into Earnings Tonight
Although I am not much of an earnings gambler, I do think it is interesting to see NFLX right back to its prior highs as it heads into earnings after market close tonight. The weekly chart, below, illustrates as much. Perhaps the stock is in a holding pattern and will use the report as an excuse to gap above or below this critical level. ...
15Apr3:18 pmEST
Down to a Runner; Chess Moves
With the stock continuing to squeeze, I sold another piece of my X long here at $27.58 from my $25.40 entry yesterday to scale more gains. I am now down to about 25% of my original position size with a stop at my entry to protect the win. As tempting as it is to press for a higher move, the fact remains that the energy, materials, and steels...
15Apr2:15 pmEST
Playing the Relatives; Chess Moves
While the GDX and GDXJ ETFs (for the senior and junior gold miners, respectively) negotiate their 50-day moving averages from the underside, I a electing to play a relative strength name in the group. I wart long HL at $3.32 with a stop-loss below $3.10 on a closing basis. HL is a top two holding in the GDXJ ETF. While it is low-priced, the...
15Apr1:12 pmEST
Down to Half an X Now; Chess Moves
I sold another piece of my X long here at $27.21 from my $25.40 entry to scale more gains into this strength as the stock becomes short-term overbought. I am raising my stop-loss to my entry price now, and have roughly 1/2 of the original position size. I am also still short XLU, utilities, and down roughly 1% on the position as the utes...
15Apr12:57 pmEST
Standing Up to Tough Conditions from Above
When we looked at crude oil becoming overbought in an ongoing bear market (as defined by a declining 200-day moving average above price on the USO ETF), the issue then became whether crude would act in such as a way which portends another leg down, or instead would stand up to normally-ripe conditions to short for another thrust higher. After...
15Apr11:51 amEST
Scaling a Hot Position; Chess Moves
With my letter X long hitting up through its upper daily chart Bollinger Band (meaning short-term overbought) just now, seen below, I am selling about 1/3 of my position here at $26.88 from my $25.40 entry yesterday to scale gains. My stop-loss is still below $24. X and the steel names are benefitting from the rotation into energy and...
15Apr11:15 amEST
Let's See if We Get the Hat Trick
With BLUE and JUNO both sprinting higher this morning, the only thing missing now to complete our "hat trick" of a triple breakout from our big three biotechs on watch would be to see ESPR sustain a move higher. Indeed, with many biotech and energy/materials stocks squeezing this morning, not to mention beaten-down names like YELP we have been...
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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.
