Glut, Glut, Goose!

04Nov1:19 pmEST

Drain. The. Shorts.

Hyperbole aside, it is far from an explosive rally in the market today. However, bulls may have done just enough to stave off an imminent washout, which became a higher risk the longer we went without sufficiently reacting to oversold conditions--Even lowly GPRO is staging a reversal to green as I write this, perhaps indicative of short-term...

04Nov10:44 amEST

A Simple Observation

Despite a GPRO earnings blow-up and crude oil swooning again, stocks are finally reacting a bit to oversold conditions this morning. Specifically, the S&P 500 Index, on the daily chart, below, is showing some life off its 200-day simple moving average (yellow line). The 200-day is a widely-watched reference point, even by non-technicians who...

03Nov3:36 pmEST

Stock Market Recap 11/03/16 {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...

03Nov3:33 pmEST

Snooty Starbucks to the Rescue?

One of the top holdings in the XLY, consumer discretionary ETF, Starbucks reports earnings tonight, snooty service, burnt coffee and all, provided for analysts gratis. As we have profiled for a good while on this site, SBUX has succumbed to the likes of DIS NKE UA as prominent consumer leaders fallen by the wayside. Beyond that, the coffee...

03Nov1:31 pmEST

Back Above the Mendoza Line as Baseball Season Ends

We last looked at the "Mendoza Line" on the VIX back in June before BREXIT. Specifically, The CBOE Market Volatility Index, or VIX, which is considered to measure fear according to the options market, is shooting higher today after flashing signs of life last week for the first time in a good while. Back over 20, the VIX is crossing over the...

03Nov10:59 amEST

A Smoke-Filled Room to Talk Political Plays

Although politics can, more often than not, largely serve as a distraction to traders and markets, the reality is that we do have a visible General Election on Tuesday. Regardless of where you fall on the political spectrum, if at all, it is useful to have a few general ideas in mind depending on which outcome prevails. Solar has been,...

02Nov3:46 pmEST

Stock Market Recap 11/02/16 {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...

02Nov3:44 pmEST

We All Better Lawyer Up

As though this market did not have enough looming risks, tonight we have Facebook's earnings report. Without question, FB has been as impressive as any leading stock in the market since it emerged from its post-IPO malaise in the summer 2013. Since then, the stock has not looked back even a smudge, as the management team has executed beyond...

02Nov1:15 pmEST

It's All About the Cubs Tonight, But Don't Forget the Sox

The Chicago Cubs will surely draw a huge audience tonight in Game 7 of the World Series in Cleveland. But before the opening pitch, the SOX, not the Cubbies' crosstown rival but rather the Philadelphia Semiconductor Index, may prove a vital role in whether stocks correct in a deeper manner that what we have seen heretofore, or instead keep...

02Nov10:38 amEST

Glut, Glut, Goose!

The massive inventory build just released during the weekly report for crude oil is sending the USO ETF spiraling lower, enough to goose oil bears to make a move in front of the FOMC later. We know energy stocks have been fickle for a while now, in terms of sustaining upside moves. But many petro-sensiitve emerging markets (Russia) and a decent...