Playing Without a Mouthguard

27Oct1:08 pmEST

Freedom Got an AK Steel

After some recent outperformance, the sell-off in AKS on news of an offering seems to be slowing down the steel sector today. Steels had been outshining the precious metals, both of which are housed in the XME sector ETF for metals miners, precious and otherwise, combined. As a result, names like WOR are coming in, and the likes of X SCHN NUE...

27Oct10:51 amEST

Reach for the Elf Instead, Grasshopper

Eyes Lips Face, also known as e.l.f. Cosmetics, is an international cosmetics brand based in New York City, trading under ticker ELF, a recent IPO. ELF has no relation, unfortunately, to The Keebler Company, famous for the animated Keebler Elves, and is now owned by Kellogg. Still, with the likes of ACIA LN PI TWLO unable to rekindle their...

26Oct3:56 pmEST

Stock Market Recap 10/26/16 {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...

26Oct3:53 pmEST

We're Going to Mars Tonight

Tesla earnings are coming up in a moment here. On the monthly chart, below, let's see if we finally get resolution from what has been a tedious consolidation for the former momentum darling. Another move below $200 likely will not be so friendly to bulls, however. As for equities as a while, plenty still hangs in the balance. More in my recap...

26Oct1:26 pmEST

Two Bright Spots in a Cold Market

Working our way through the afternoon, stocks are simply searching for direction after an opening gap down, snapback rally, and now a drip back lower. Two bright spots to note, however, would be the action in major copper Freeport, and the regional banks. On the first daily chart, below, FCX is green for the second day in a row after missing...

26Oct10:52 amEST

We Know an Attack is Coming; But from Where?

At this point it is beyond obvious that most market indices are rangebound amid tedious action without much follow-through. While it is true that the surge in AMZN FB GOOGL NFLX of late may have masked some of that neutral action below the surface, in reality the majority of market players are keenly aware of the situation. It logically...

25Oct3:43 pmEST

Stock Market Recap 10/25/16 {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...

25Oct3:40 pmEST

On Defense

Opening night for the NBA, combined with major stock averages which are largely trendless, is good enough to report this old gem of the legendary Red Auerbach on defense. Defense (in terms of stop-loss discipline, selectivity, and position sizing) is a prominent factor in this market for traders looking to survive a tape with a plethora of...

25Oct1:30 pmEST

If We're Gonna Grind, Might as Well Grind and Brew

Equities are still having issues holding much of anything, with the FANG stocks masking a good deal of faded breakouts and grinding action below the surface of late. I have an eye on PCLN's outperformance here, especially over $1480. But on the whole most of my watchlist long ideas are not gaining much traction at all. At a minimum, bulls need...

25Oct10:44 amEST

Playing Without a Mouthguard

The sizable post-earnings gap down in Under Armour this morning decisively breaks the descending triangle pattern the stock had been forming for quite some time. We tracked the relative weakness in UA over the last few quarters, which piggybacked the general weakness in other consumer titans like DIS NKE SBUX, among others. Indeed, buyers in UA...