MarketChess
Showing articles 5771 - 5780 (6580 total)
15Apr2:15 pmEST
Playing the Relatives; Chess Moves
While the GDX and GDXJ ETFs (for the senior and junior gold miners, respectively) negotiate their 50-day moving averages from the underside, I a electing to play a relative strength name in the group. I wart long HL at $3.32 with a stop-loss below $3.10 on a closing basis. HL is a top two holding in the GDXJ ETF. While it is low-priced, the...
15Apr1:12 pmEST
Down to Half an X Now; Chess Moves
I sold another piece of my X long here at $27.21 from my $25.40 entry to scale more gains into this strength as the stock becomes short-term overbought. I am raising my stop-loss to my entry price now, and have roughly 1/2 of the original position size. I am also still short XLU, utilities, and down roughly 1% on the position as the utes...
15Apr12:57 pmEST
Standing Up to Tough Conditions from Above
When we looked at crude oil becoming overbought in an ongoing bear market (as defined by a declining 200-day moving average above price on the USO ETF), the issue then became whether crude would act in such as a way which portends another leg down, or instead would stand up to normally-ripe conditions to short for another thrust higher. After...
15Apr11:51 amEST
Scaling a Hot Position; Chess Moves
With my letter X long hitting up through its upper daily chart Bollinger Band (meaning short-term overbought) just now, seen below, I am selling about 1/3 of my position here at $26.88 from my $25.40 entry yesterday to scale gains. My stop-loss is still below $24. X and the steel names are benefitting from the rotation into energy and...
15Apr11:15 amEST
Let's See if We Get the Hat Trick
With BLUE and JUNO both sprinting higher this morning, the only thing missing now to complete our "hat trick" of a triple breakout from our big three biotechs on watch would be to see ESPR sustain a move higher. Indeed, with many biotech and energy/materials stocks squeezing this morning, not to mention beaten-down names like YELP we have been...
14Apr5:16 pmEST
Stock Market Recap 04/14/15 {Video}
Please Note: Market Chess Subscription Services Will Launch This Thursday Night, April 16th, with a One-Time Discount for the First Sign-Ups. More Details Here . The following video contains coverage of relevant broad market issues (for equities) in addition to plenty of actionable trading ideas across other asset classes. Feel free to...
14Apr3:43 pmEST
A Key to Deep Sea Diving in the Commodities Ocean
With promising action in energy, steels, even coals, and many other materials names today, save precious miners, the U.S. Dollar is still likely to be a key piece of the puzzle as to whether the commodities and materials' rally has legs from current levels. On the updated UUP, ETF for the Dollar, daily chart, below, note how the greenback came...
14Apr2:55 pmEST
Analyzing the Basic Box
The chart for Basic Energy Services is one we have observed periodically. And it may very well be worth a closer look here not only on its own merits, but perhaps as a means to extrapolate the technical setup to the rest of the energy sector. On the updated daily chart, below, note that price is threatening to break up and out of the rectangle...
14Apr2:02 pmEST
Still Have Bibimbap on My Mind
If the steels can sustain today's rally, I am still looking at premier Asian steelmaker POSCO (PKX) as a bottom-fishing long idea. Charlie Munger once called POSCO the best run steel firm in the world. And with the share rally in China markets of late it is hard not to at least take a look at this one. On the daily chart, below, you can see...
14Apr12:44 pmEST
Going to Need to Fight Hard for These Levels
In addition to the $62 level on biotechnology stock JUNO as being the upside trigger to clear, ESPR is needing to leave $105 in the dust. On the updated daily chart, below, note the narrowing formation in an uptrend. Still, patience is important in waiting for another setup--Just note how playing JUNO with precision has been key in recent...
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About
“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
