MarketChess

09Oct2:20 pmEST

A Wounded Wolf is Especially Dangerous

As we saw with China plays over the last few weeks there is tons of risk in any and all crowded trades in a bifurcated market coming unglued at the drop of a hat. While I believe that day is coming as far as crowded longs in the Mag7 names, semiconductors, and other assorted plays like CAVA COST PLTR WING, among others, it of course applies to...

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08Oct1:31 pmEST

Judging That First Real Dip

Amid renewed political will in America for nuclear energy to help power AI, on top of continuous Middle East escalations, we have seen uranium stocks enjoy an impressive early-autumn trading period as a group.  In the last few sessions we finally got some dips to judge, insofar as whether the sector's notorious reputation for unforgiving...

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07Oct10:58 amEST

Excuse Me, I Believe You Have My FEMA Stapler

Rates on the 10-Year Note are now back above 4%, as The Fed's jumbo rate cut on September 18th continues to look increasingly vulnerable to the bond market finally pushing back on "anything-goes" central banking policies over a period of decades. True, it has only been a few weeks, whereas several more months of this pushback from the bond...

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04Oct2:10 pmEST

Afternoon Update 10/04/24 {Video}

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03Oct2:59 pmEST

Let Me Explain Sumin' to You

The complacency in both markets and society at-large regarding the longshoreman strike is extreme but not surprising considering we are in the midst of one of the most forgiving markets in modern history, coupled with a generation or two who has not seen a crippling nationwide strike's deleterious effects on the economy and morale.  Putting to...

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02Oct11:29 amEST

Back in Town

After taking a few months off this summer to allow the initial rate cut euphoria to run its course, I am now "back in town" in the bond market and betting the short side on Treasuries, looking for higher rates in the belly and long end of the curve.  Much like the 1970s with the oil embargo and wage/price spiral, we now have several seemingly...

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01Oct12:52 pmEST

Any Storm in a Port

Escalations in the Middle East are compounding the effects of a major strike in many of American's ports today to kick off the new month and final quarter of trading. As a result, the Nasdaq is leading markets lower, off by around 2% as I write this.  Apple's breakout attempt higher yesterday is reversing sharply, with the iconic name down by...

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30Sep12:39 pmEST

The Ruins of Quarters Past

Today's closing bell marks the end of the month of September as well as the third quarter of trading, making the quarterly candlesticks on charts fully complete.  For a lesson in history, consider the quarterly candles that Cisco, the star of the dot-com bubble twenty-five years ago, was sporting at the turn of the century on the first...

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27Sep3:14 pmEST

Afternoon Update 09/27/24 {Video}

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26Sep1:49 pmEST

Basic Hurricane Plays

"Helene" is currently a Category 2 hurricane with wind speeds of 105 miles per hour, and is expected to make landfall this evening along Florida's northern and western regions.  Even to the most seasoned weather and hurricane experts there is a wide degree of unknowns regarding just how bad things could get, or whether the entire ordeal could...

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