MarketChess
Showing articles 5941 - 5950 (6580 total)
17Mar3:05 pmEST
One Word for New Ideas: Plastic
I am already short AXP and V. And I continue to see setups on the short side emerge in the credit card space. If you have followed my work for a while, then you know back in 2010-2011 I wrote up the bullish prospects for major credit card players as long-term plays, such as DFS and MA, based on their multi-year coiling chart patterns. And now...
17Mar2:11 pmEST
Martha Regaining Street Cred
After basing out for several years following a swoon, Martha Stewart Living Omnimedia, Inc. is showing some serious sign of late in the last few weeks. I had previously been looking for some type of bottom to be scalloped out, but the stock continued to be "dead money" for quite some time, grinding sideways to a halt. However, I was reminded...
17Mar12:55 pmEST
Taking in More Green on a Green Holiday; Chess Moves
i just sold another piece of my GOGO long at $21.69 from the $19.93 entry last week. I am taking advantage of more intraday strength in the name, in the face of a red market, since I took initial gains this morning here . I am now down to about 25% size of original position, with my stop-loss raised to my entry price. As for new ideas, I...
17Mar12:14 pmEST
Setting Sail on the High Dow Seas
The new short Visa trade I entered in my last blog post is going to be a big one, insofar as it pertains to the Dow Jones Industrial Average. Note that Visa is now, by far, the most heavily-weighted Dow component ( click here for source). The theory behind the short trade can be found on the daily chart, below. We can see a well-defined...
17Mar11:17 amEST
Making More Trades; Chess Moves
My short book currently consists of AXP and GOOGL, as I believe both positions are intact for my thesis. And I just added to the short side of my book by going short Visa at $266.44 with a protective cover-stop over $280. This is a 4% portfolio position, and I am playing for the largest Dow Jones Industrial Average component to break down a...
17Mar10:29 amEST
Operation Dinner Out is a GoGo; Chess Moves
I just sold half of my GOGO long here at $21.33 from my $19.93 entry last week noted in real-time in this blog post , in order to scale partial profits. I moved my protective stop-loss up to my entry price, in order to protect the rest of the gains, thus far. The stock is moving nicely, despite broad market weakness this morning and recent...
16Mar4:28 pmEST
Stock Market Recap 03/16/15 {Video}
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 pick and choose which ideas and parts of the analysis fit your style. Always properly manage your downside portfolio risk for any trades taken. Enjoy tonight's...
16Mar3:31 pmEST
Winter Light Before the Holiday
A nice broad market rally today in front of the St. Patrick's Day holiday tomorrow leaves bulls feeling pretty confident in another V-shaped really to fresh highs on the major averages. I still am looking to see ore broad-based quality technical setups before I would consider loading up my portfolio with swing longs. But that does not make...
16Mar2:29 pmEST
Sidestepping Danger; Chess Moves
I played TSLA on the short side earlier this year for a nice win. But I did so knowing full well the risks involved in playing a momentum darling with a charismatic CEO, not to mention a company with a cult following and a heavily-shorted stock. While that trade worked out, it looks like this one will not. Given today's move higher after CEO...
16Mar1:39 pmEST
While the Dollar Lounges Around Today...
Far be it from me to call a top to the impressive U.S. Dollar bull run since last summer. However, with the pause today in the greenback I am stalking a quick long scalp in the gold miners. Specifically, the GDX, ETF for senior gold miners, might be good for a quick long over $18.20, then $18.30. Still, miners have much to prove, and I would...
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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.
