MarketChess

02Aug10:27 amEST

Enjoy the Journey

It may not be particularly fun to ease off the action during this mid-to-late summer market malaise, but with the small caps in the IWM breaking back below their 50-day moving average this morning to compound the heavy selling in tech (QQQ) over the last two sessions, resisting the urge to "make something happen" on the long side may very well...

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01Aug3:08 pmEST

The Fed is Trapped; Long Live The Fed

It may take a little while longer yet for equities to fully grasp the picture. But what else is new?  The first asset classes to usually catch on are fixed income and, at times, gold.  So what is it, exactly, that these markets need to "catch on" to regarding The Fed? How about this: The Fed is officially trapped and now they know it. Any...

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01Aug11:36 amEST

Kirkland is Not Just Costco's House Brand, Ya Know

Equities are snapping back with some authority this morning, as hope for a second rate cut now seems to have more viability than it did yesterday afternoon. Still, I am a bit skeptical of the bounce, pending the close and daily volume due to some recent warning signs with respect to upticks in sell volume and a few examples of the market...

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31Jul3:47 pmEST

The Market Was Not Looking for That

The beloved rate cut may indeed have been initially perceived as being some type of panacea for global trade wars and any concerns about the economy. But even with small caps outperforming the last two sessions it is hard to ignore the "sell the rumor, sell the news" double-whammy we largely saw in many stocks this week.  In particular, note...

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31Jul10:33 amEST

At Least Some of it is Baked in the Cake

Small cap outperformance yesterday combined with a gap higher in AAPL after earnings this morning are helping to blunt some of the "sell the rumor" type of action we saw at the beginning of this week as we head into the FOMC later today.  Still, one cannot help but think that the widely-publicized rate cut likely to come at 2pm EST today is...

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30Jul10:17 amEST

Bears Trapped on This Deck

In an otherwise slow pre-FOMC tape today, Trex Company, the leading recycled materials manufacturer of wood-alternative decking, railings and other outdoor items, is a notable bright spot.  We tried a long in TREX in recent weeks but soon surmised that the stock was likely waiting on earnings to make some type of move. With this morning's...

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29Jul5:20 pmEST

Stock Market Recap 07/29/19 {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...

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29Jul10:45 amEST

Sell the Rumor

Stocks are mostly lower in front of a well-publicized rate cut likely coming later this week during the FOMC announcement on Wednesday. As I write this, I see software in the IGV and HACK ETFs, as well as the small caps in IWM, are leading lower. This type of action is roughly the polar opposite of the spirited rally in growth issues we saw...

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28Jul12:34 pmEST

Weekend Overview and Analysis 07/28/19 {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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26Jul3:30 pmEST

Twitter: Now What? {Video}

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