It's Like a Mild Day in the Dead of Winter

18Feb3:31 pmEST

Time to Revisit Some Basic Philosophy of Gold

There is no denying the persistent strength in "the color," with the miners shaking off some earnings misses today ad mostly up nicely. GFI, a laggard, is coming back here and on track to close over its 20-day moving average, despite a huge gap down. We are taking things one step at a time, but the action is improving noticeably in the...

18Feb12:45 pmEST

Afternoon Battle Plans

Bears had a chance to really wreak havoc on the market with a thrust lower at about 11am EST this morning. However, buyers stepped in for damage control, and we are grinding through the New York lunch hour as we speak. On the intraday chart of the SPY, ETF for the S&P 500 Index, below, we are keying off the $192.50 level as being a significant...

18Feb10:50 amEST

Escape the Perceived Food Chain

After a slew of earnings reports this week by precious metals miners, most are holding up fairly well. GFI gapped down over 13%, but the likes of ABX flipped red-to-green this morning, seen below on the daily chart flagging well over a confirmed inverse head and shoulders bottom. In light of getting pounded to one new low after the next since...

17Feb5:09 pmEST

Stock Market Recap 02/17/16 {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...

17Feb3:33 pmEST

Hold Your Fire!

With the third consecutive gap up in the market holding firm today, there are plenty of premature shorts no doubt starting to feel the heat. To be sure, shorting in any type of market amounts to "adult swim, in terms of the agility and discipline required to avoid getting whacked for a big loss. But beyond that, the rally in stocks seems to be...

17Feb12:49 pmEST

The Issue with Rallies in Downtrends

Bluebird Bio is a pretty good technical example of the trouble in playing stocks in downtrends. If you are buried long in the name from higher prices, say, above $60 or even $80, then of course all sizable rallies like the one we are seeing now will come as a relief. If you were pressing short "in the hole" at recent lows, then you needed to...

17Feb10:57 amEST

In the Headlights

With a third consecutive large gap higher on the indices, the market is doing its best to humble the boldly bearish proclamations we heard last week of imminent global doom. Still, not much technical evidence is present to suggest this is anything more than a relief rally in an ongoing downtrend. I see plenty of beaten-down, left-for-dead...

16Feb5:15 pmEST

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

16Feb3:14 pmEST

You're Yellow, See

I see Goldman Sachs is out with a call to short gold here. As always, the yellow metal remains a controversial topic in trading and investing community. With plenty of major gold miners reporting earnings this week, I am inclined to wait until after their various price reactions before reentering the complex--We sold a SLW long on Friday to...

16Feb12:49 pmEST

It's Like a Mild Day in the Dead of Winter

When rallies occur in the context of established downtrends, as defined by declining 200-day moving averages above price on the major stock indices, it is always interesting to see the various emotions which are associated with the green. Trapped longs, from higher prices, can breath a temporary sigh or relief (hence the phrase "relief rally"),...