Mr. Buffett: It's Time to Be Ruthless

22Sep3:44 pmEST

Sticking with Green

We wound up getting a modest intraday sell-off earlier, after all. However, bulls are recovering nicely into the bell as equities are attempting to close strongly. While seeing FB lag AMZN GOOGL is a bit concerning, and NFLX is suspect at best as one of our Members noted, it is tough to become too bearish on the tape as a whole. Having said...

22Sep1:16 pmEST

Sweet Nektar of the Biotech Gods

Buyers are giving it another go above 2177 on the S&P 500 Index as I write this after the morning gap-fill and expected pause. It seemed like "here we go again" with another fade off the morning highs. However, that fade may now be too obvious, with many traders accustomed to it from earlier in week and indeed a choppy range since the...

22Sep10:49 amEST

Counselor? Come Out Come Out Wherever You Are

With the S&P 500 Index filling its 2177 gap higher from the monstrous gap down two Fridays ago, we are looking to see if bulls can now build on their post-FOMC momentum and hold back above it. If so, then the sell-off from two Fridays ago will take on far less significance than it seemed to have at first blush, and the initiative will be back...

21Sep4:32 pmEST

Stock Market Recap 09/21/16 {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...

21Sep3:51 pmEST

FED AGAIN

Another punt by The Fed and another celebration by stoxks, bonds, and commodities. At some point, markets are going to force Ms. Yellen's hand, particularly the gold market. For now, I am looking to see if today's upside moves can stick and follow-through in the coming days. More in my recaps after the bell.

21Sep1:06 pmEST

Hawks vs. Doves

Ahead of the big FOMC decision whether to raise rates to stand pat, along with plenty of rhetoric as a side dish, precious metals and miners are rallying. Perhaps this may very well be a sign that "someone knows something." But is could just as easily be setting up a "sell the news" reaction. So, gamesmanship is typically a fallacy for these...

21Sep10:57 amEST

Netflix Negotiations Reaching a Tipping Point

For a while now, we have been tracking Netflix as it negotiated its 200-day moving average, still decline and presenting a formidable challenge for even the most steadfast bulls in the name. NFLX recently fell behind the pack of major leaders, such as AMZN FB GOOGL, even PCLN, in terms of technical strength. And that is persisting this...

20Sep4:28 pmEST

Stock Market Recap 09/20/16 {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...

20Sep3:43 pmEST

Some Old-Fashioned Island Hopping

The drifting action into the FOMC continued today, with pockets of momentum largely relegated to the small and mid-cap biotechnology arena. I am very light here in terms of my exposure, but after The Fed tomorrow there are a few of the biotechs on my radar. Indeed, it seems as though biotech bulls are island hopping within the space, which...

20Sep1:02 pmEST

Mr. Buffett: It's Time to Be Ruthless

"LOSE MONEY FOR THE FIRM AND I WILL BE UNDERSTANDING. LOSE A SHRED OF REPUTATION FOR THE FIRM, AND I WILL BE RUTHLESS." -Warren Buffett Given Berkshire Hathaway's sizable stake in Wells Fargo, it is likely that Mr. Buffett is being rather calculating in terms of his reaction to the scandal, if there is going to be one. Ether way, Wells is...