Monthly Archives: April 2023

Showing articles 21 - 24 (24 total)

05Apr11:41 amEST

The ARKK is Taking on Water

I am still short ARKK via a long SARK play. And as you can see below on the updated daily chart Cathie Wood's growth stock buffet is at risk of support trend and the key $38 level.  Given the Nasdaq rally in Q1, the ARKK weakness is all the more concerning to the bull case.  Going forward, I continue to look for another meaningful leg down in...

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04Apr9:26 amEST

No Rate Cuts Without Calamity

After the spike up in crude oil so far this week, let us also remember that winter is behind us and summer driving season ahead.  UGA, the ETF for gasoline futures, has been quietly flagging on the monthly timeframe, seen below. If this flag uncoils higher say, above $70, as we see gas prices rise nationwide I have a hard time seeing even this...

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03Apr10:51 amEST

Oil Up, Tesla Down; New Quarter of Attack

"Get up. Dust off. Reload. Re-calibrate. Re-engage – And go out on the attack.” – Jocko Willink Just in time for the new month and quarter (funny how that works), OPEC+ meaningfully slashes oil output to send crude prices higher. Oil services names like RIG, which started off 2023 red hot before cooling off amid the tech rally, are back at it...

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02Apr10:07 amEST

Weekend Overview and Analysis 04/02/23 {Video}

The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend 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.  Please click here  for more...

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