Dimon's Buys Are Forever

25Feb12:53 pmEST

Let's Restore the Three Day Waiting Rule

After the complete disaster and dodgy excuses by the firm's management in the wake of the Restoration Hardware earnings release and conference call, shares of RH are down more than 28% as I write this. On a slow market day, the temptation may be to rush in and stick in a bid for some type of reversion higher. However, just as with DATA LNKD in...

25Feb10:33 amEST

The Fog Not Yet Lifted

Despite yesterday's pronounced reversal higher in stocks and crude oil, the attempt to follow-through higher this morning has been a sluggish one. Crude is red as we speak, with USO down more than 2% and large cap energy stocks lagging the market noticeably. Even as the Japanese Yen comes in, stocks are not yet taking the ball and running with...

24Feb5:09 pmEST

Stock Market Recap 02/24/16 {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...

24Feb3:31 pmEST

Holding Serve

An afternoon surge free and clear above the respective 20-day simple moving averages on the major stock indices helped to negate any notion of bears rolling this market over for an imminent move to new lows today. Precious metals and miners, along with Treasuries and the Yen, are near or at the lows of the day as we speak, likely inspiring...

24Feb12:32 pmEST

Right Down the Line

The bounce in equities later in the morning today coincided with a bounce in both the Dollar/Yen and especially crude oil, post-inventory report. Headed into the afternoon, we are keeping tabs on the 15-minute chart of the SPY, seen below. Note the 20-period moving average (orange line) guiding price down in recent sessions. I suspect if this...

24Feb11:01 amEST

Look Beneath Support

The divergence in recent sessions, dating back to last week, between a weak Dollar/Yen cross (meaning a strong Yen) and equities bouncing along may be recalibrating today in favor of the Yen's dominant position as being one of the premier "risk off" currencies in the world today. As such, with the USD/JPY losing 112 overnight, equities are...

23Feb5:13 pmEST

Stock Market Recap 02/23/16 {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...

23Feb3:40 pmEST

From Russia with Curiosity

Headed into the bell of a grinding sell-off today, we have more earnings after the bell of note, namely FSLR. As we know, many solars have been pummeled of late, namely SCTY SUNE. So, it will be interesting to see if First Solar follow the group down or continues to hold the line. Overall, energy and financials led us lower today, with some...

23Feb12:41 pmEST

Context for the Afternoon

After a fairly slow-moving morning, into the afternoon we are looking at a few day-trading setups which I will run Members through in a Midday Video. Beyond that, some good context will be whether the outlined intraday potential inverse head and shoulders bottom proves true for the small caps, seen on the IWM 5-mnute chart, below. The pattern...

23Feb10:56 amEST

Dimon's Buys Are Forever

A few weeks back, Jamie Dimon, chairman and chief executive of JPMorgan Chase, spent $26 million of his personal fortune to buy his bank's stock, JPM. His buys were cheered as a sign of a bottom for the stock and perhaps the market at-large. Today, JPM and the other big banks in the XLF are getting whacked again, clearly lagging the market. I...