MarketChess
Showing articles 6231 - 6240 (6581 total)
22Jan3:38 pmEST
A Metaphor for the Market
After several days of bouncing, followed by today's sharp rally higher, the market is once again back at a critical technical juncture. I will discuss this idea after the closing bell in my video market recap. In particular, Facebook looks to be a metaphor for the market, in some respects. On the daily chart, below, you can see that since I...
22Jan2:08 pmEST
Another Contender Now
In addition to my analysis of IBM, a stodgy multi-national brand already in a downtrend from a confirmed multi-year topping pattern, American Express looks more and more by the day like it will follow suit. Thus, AmEx is a contender, now, for a multi-year topping pattern in its own right, especially with its latest earnings gap lower. On the...
22Jan12:33 pmEST
It's Already Baked Into the Piroshki
Crude oil continues to work through either a sloppy sideways period of trading, or instead is breaking down again. The first chart, below, is the 30-minute timeframe for the crude oil ETF showing as much. The second chart, however, is interesting. The ETF for Russia not only failed to breakdown earlier this week, but it is now moving higher...
22Jan11:22 amEST
Attack and Retreat; Attack and Retreat
In my mind, part of being a trader means not feeling the internal pressure you create or allow from peers to try to catch every single move, in every single market. Case in point: I have captured some strong winners to begin 2015, namely with select shorts in equities and leveraged longs in the precious metals and miners complex. My losses have...
22Jan10:42 amEST
Press the Restart Button After This Level of Super Mario
"Super" Mario Draghi of the ECB announced his own QE numbers this morning, as markets spiked up at the open only to abruptly fade into red. As I write this now. dip-buyers are giving it a go at recapturing the opening highs, namely 2,045 on the S&P 500 Index. I am seeing wild price swings across all markets, however, including crude oil...
21Jan4:36 pmEST
Stock Market Recap 01/21/15 {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...
21Jan3:17 pmEST
Simply Trading What I See; Chess Moves
I am long TMV here, at $26.44, with a protective stop-loss below $25. TMV is the triple-bearish ETF for Treasuries, which means I am betting against U.S. bonds. This is not a macro trade, nor a trade for or against Central Bankers around the world. Instead, I am simply trading what I see on that TLT chart I presented to you earlier today. On...
21Jan1:45 pmEST
A Frigid Winter for Big Blue
Not much has changed for major Dow component IBM from a technical standpoint, as "Big Blue" is still battling a confirmed topping pattern on the monthly chart, projecting a move down to roughly $130, as I have written about before. After earnings, though, it is worth revisiting the chart just to drive home a point that there still seems to be...
21Jan12:37 pmEST
One Time!
I continue to patiently wait for a more textbook short setup in the runaway market known as Treasuries. On the TLT hourly chart, below, the light blue lines illustrate a potential rising wedge breakdown. Thus, for the first time in a while, I am interested in shorting bonds again via a long TBT or TMV position (the double and triple short bond...
21Jan11:37 amEST
Scoping Out My Next Catch
After some sizable wins and only a few small losses to kick off 2015 I am back to 100% cash. The Russia short I day-traded (and sold into the bell, noted on this blog) yesterday would have gone against me this morning, as oil and Russia are bouncing after an early ECB release. In addition, a faulty AMZN rumor hit the tape, causing some...
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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.
