Number 23 is Still the Best

13Apr12:52 pmEST

Local Anesthesia for Regionals

As a few of our Members observed this morning, it looks as though the regional banks are numbing to recent pains with some local (or, well, regional) anesthesia in the form of a sharp relief rally in the debt-ridden energy firms (to which quite a few regionals have exposure), as well as the inter-related HYG JNK ETFs. Furthermore, when you see...

13Apr10:52 amEST

You'll Need Backup to Trade This Stock

There is no shortage of drama or headlines when it comes to Valeant Pharmaceuticals International, Inc. over the last few quarters. This morning, for example, the CEO agreed to be deposed by a Senate committee, side-stepping a potential contempt citation. Bill Ackman is, of course, still a major player in the name and can cause ripples at any...

12Apr5:20 pmEST

Stock Market Recap 04/12/16 {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...

12Apr3:29 pmEST

When in Doubt, There is Always Boston

A sharp upside reversal today illustrates the point about how flexible one has to be in this type of tape, with daily whipsaws against the backdrop of still-resilient bulls. With this in mind, if the market does actually follow-through higher we can return to a sector we looked at in recent weeks due to its impressive price action. The...

12Apr12:37 pmEST

A Clear Point of Attack

In recent videos for Members, a few points repeatedly came up: The energy sector had a few chances of late to roll back over again to fresh lows, but instead found buyers just in the nick of time. In addition, as a corollary to that first point, the XLE (ETF for the energy sector) had not tested its 200-day simple moving average (yellow line...

12Apr10:47 amEST

Deeply Underwater Horizon

Horizon Pharma, a prior multi-year winner in the healthcare sector, is down a cool 24% this morning in reaction to an 8-K the firm filed with the SEC. While the temptation may be to state that these types of moves are overdone to the downside, a function of the ubiquitous "everyone is scared of markets" argument these days, in reality HZNP is...

11Apr5:31 pmEST

Stock Market Recap 04/11/16 {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...

11Apr3:12 pmEST

I Want Precious to Come Back Up from the Hole

One of the more bullish aspects of the rally in precious metal and especially the derivative miners has been the way in which two of the mid/large cap miners responding to recent gaps down. Both GFI and SLW had been lagging the precious rally in recent weeks, dealing with their own company-specific issues which the market initially sold. But...

11Apr12:53 pmEST

Napoleon Complex

Small cap stock are showing a bit of their insecurities today. After an opening move above $110 on the IWM (ETF for there Russell 2000 small cap-dominated Index), sellers stepped in and pushed the little guys below $109 at one point. As it stands now, on the IWM 30-minute chart, below, small caps are trying to stabilize amid a freight train...

11Apr10:44 amEST

Number 23 is Still the Best

The XME, ETF for many metals and miners, is outperforming most sectors this morning, notably biotech and a few prominent growth issues like FB NKE UA. We trimmed some partial gains in a few precious miners, but are scouting out some fresh longs in other parts of the XME holdings. Regarding gold miners, the weekly chart for the GDX ETF, below...