Alternatives to Funyuns, Easy Cheese, and Bugles on 4/20

23Apr7:24 pmEST

Saturday Night at Market Chess Cinemas

Geoffrey Rush's performance, for which he won the Best Actor Oscar, on a standalone basis makes Shine (1996) worth seeing. Rush would rise to a more prominent status in Hollywood after this role, as pianist David Helfgott, who makes a riveting comeback to the piano after enduring a breakdown at a younger age. This film is based on the...

22Apr12:47 pmEST

Don't Try to Change That Number

Taking a lesson from when Michael Jordan switched to number 45 after coming back from his baseball stint, lost to the Orlando Magic in the 1995 NBA playoffs, then came back the next year as number 23 again and won the NBA Championship with arguably the most dominant team in the last two decades, we should not change our number when it comes to...

22Apr10:51 amEST

The Microsoft Clippers Take the Floor

Much like our analysis of KO earlier this week, MSFT is another stodgy Dow name which took its sweet old time getting back to prior all-time highs set more than fifteen years ago. Now that both KO and MSFT have circled back to their prior highs, with Microsoft actually "clipping" it with momentary fresh ones, long-term overhead supply is likely...

21Apr4:39 pmEST

Stock Market Recap 04/21/16 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. If you enjoy my videos and blog posts, then please...

21Apr3:35 pmEST

Off to the Races Tonight

A huge lineup of major firms reporting earnings awaits us tonight after the closing bell, ranging from Visa to SLB and SBUX, to SKX, and of course GOOGL, seen below on the daily timeframe. Just as with NFLX, if bears are going to make some noise this summer in the broad market, I suspect the outlined potential cockeyed top needs to confirm...

21Apr12:37 pmEST

Tracking the Rotations

The "safety" trades seeking yield, namely in the IYR XLP XLU sectors, are unwinding for the second consecutive session as I write this. At issue now is where we see that money flowing, be it to higher beta/riskier sectors like the XBI (small/mid-cap biotech ETF) or beaten-down hot tamales like FIT GPRO LNKD TWTR YELP. And then there is always...

21Apr10:36 amEST

Silver is in the Anything Goes Phase

Appearing to be well on its way to confirming an intermediate-term bottom, silver likely carried out some stubborn shorts in body bags this morning with yet another opening gap higher. But silver then sharply reversed lower and promptly punished latecomer longs, only to now flip back to green as I write this. The main point is to keep...

20Apr5:08 pmEST

Stock Market Recap 04/20/16 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. If you enjoy my videos and blog posts, then please...

20Apr3:24 pmEST

King Dollar Down, But Not Defeated

Those declaring the end of the greenback may still be a bit too early, despite the ferocious rally in commodity stocks and most things "inflationary," of late. The UUP, ETF for the U.S. Dollar versus a basket of developed economies' currencies, did indeed lose fifteen-month support (lower light blue line on daily chart, below) over the last...

20Apr12:58 pmEST

Alternatives to Funyuns, Easy Cheese, and Bugles on 4/20

In lieu of the usual "munchies" on 4/20, fast food plays SONC and WEN appear to be setting up nicely on daily timeframes, below. Note the surge in recent months, followed by an orderly drift down to their respective 20-day moving averages over the last few weeks. If we see some rotation away from MCD down to other fast food plays, these two...