MarketChess

20Nov1:24 pmEST

The Trouble with Retail is That It's Full of Stocks

On the back of the Lowe's earnings selloff we noted yesterday we now have shares of Target getting body slammed by more this 22% as I write this after its own report this morning. Once again, all roads in equities lead to NVDA earnings tonight, as it is the largest firm by market cap in the world (over $3.5 trillion) and the premier...

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19Nov3:22 pmEST

A Market So High it Ignores the Lowe's

The market still seems to be of the mind to rally the narrow pocket of growth stocks into NVDA's earnings tomorrow evening, with the likes of MSTR PLTR SMCI and the aforementioned NVDA all snapping back today.  As usual, this market is also ignoring the likes of Lowe's reporting a year over year drop in earnings, with do-it-yourself demand for...

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18Nov2:05 pmEST

And Just Like That, SMCI is (Not) Fixed

The headlines today about SMCI read, "Super Micro Stock Jumps As Data Center Firm Preps Plan To Avoid Delisting" (courtesy of Investor's Business Daily ). The stock is up more than 20% as I write this.  Bulls may want to think long and hard on that one--A massive relief rally in a mere plan to avoid a delisting for a stock in the hottest...

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15Nov3:43 pmEST

Afternoon Update 11/15/24 {Video}

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14Nov4:41 pmEST

Stock Market Recap 11/14/24 {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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13Nov3:26 pmEST

Exhaustion

Between CAVA's earnings pop-and-drop, PLTR fading, small caps losing steam, and crypto plays with an outside reversal (see BLOK ETF, below on the daily chart, for crypto stocks, undercutting yesterday's lows after making new highs earlier today), I am prepared to say today's action looks like speculative exhaustion in the hot money parts of the...

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12Nov3:31 pmEST

Why the Pain Trade in Rates is Still Higher

Yesterday was a bond market holiday. However, TLT (ETF for Treasuries) still traded. In previous years I have seen bond bulls use this opportunity as a free pass of sorts to rally the ETF (as this ETF goes up, rates go down, generally speaking). But that did not happen yesterday on Veterans Day. And now today we have TLT in the midst of...

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11Nov1:32 pmEST

Three Card Monte Market

There are so many moving parts to the current market, with aggressive daily rotations and dispersion, that it can drive one mad to try to time every near-term top and bottom across the board. At times it really does seem like a street hustle of three card monte. Overall, I still view the underperformance of semis and some mega cap tech as a...

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10Nov11:13 amEST

Weekend Overview and Analysis 11/10/24 {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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07Nov3:41 pmEST

Back in the Metals, Planning to Add

To keep things actionable around here, precious metals and derivative miners seem to be finding a bid after their recent harsh shakeouts. Fed Chair Powell's presser today featured more of the same from him, downplaying inflation risks and severely disrespecting the possibility of the dreaded stagflationary environment like the 1970s, with...

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