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03May12:38 pmEST

Weekend Overview and Analysis 05/03/20 {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...

02May5:42 pmEST

Warning: New Paradigm Coming

The selloff in equities to close out last week saw renewed jitters about the formidable month of May in markets, in general, combined with the persistence of the pandemic and lockdowns. The problem areas for this market over the last few months sold off hard again and are far from healed charts, be it cruise lines like CCL NCLH RCL down 10-14%...

01May12:41 pmEST

Who Wants to Try to Hustle the Hustler?

Warren Buffett will be speaking to the world on Saturday, May 2nd, at Berkshire Hathaway’s 2020 Annual Shareholder Meeting. Due to the pandemic, the meeting with be virtual but there will be a Q&A portion, usual. Greg Abel, Berkshire’s vice chairman of non-insurance operations, will be taking previously submitted questions with Buffett. Abel...

30Apr3:37 pmEST

Gold and the Miners: Let 'em Rest Now

I am not sure how many financial news outlets or pundits on social media were blaring headlines about gold miners printing seven-year highs last week, but I doubt very many did. But that is correct--The GDX ETF hit its highest level ($34.74) last week since April 2013, as seen on the GDX weekly chart, below. After a steep multi-week uptrend off...

30Apr11:20 amEST

The Main Thing You Cannot Control is Time

At this point into the lockdown/quarantine in most parts of the country it may feel like we are constantly being teased into thinking we will re-open the economy any day now. Indeed, the market seems to think so, with stocks furiously squeezing over the last five weeks in order to try to price in such a scenario.  Seeing as history does not...

29Apr11:44 amEST

Baking a Heckuva Cake

The phrase, "baked in the cake," refers to the concept of markets being able to discount a future scenario which may not yet seem apparent. When said scenario materializes it may come as a surprise to a fair amount of people but not so much to markets which have already accounted for the development.  Applied to the current landscape, markets...

28Apr3:00 pmEST

You Can Almost Hear Lou Brown...

"Come on bears, get in front of the damn small caps! Don't give me this "ole" bulls***!" With tech dipping into major earnings and the FOMC, the weekly chart for IWM, below, shows us where the real battle may be. Small caps are up against their late-2018 correction lows.  Turning prior support into newfound resistance would be rather...

28Apr10:58 amEST

Lining Up the Next Shot

Some near-term buyer exhaustion in many Nasdaq names this morning appears to be setting in, which cannot be too shocking given the furious push higher we have seen (especially in the futures market) over the last month. Prominent winners from this cycle, like TDOC ZM, are down sharply as I write this as we head into the true belly of the beast...

27Apr3:37 pmEST

Crude Headlines; Natty Baselines

Amid more shock-and-awe in the energy sector, be with crude oil getting throttled again with some bankruptcies from debt-ridden players in the space still very much a distinct threat, we do have an impressive red-to-green move in natural gas today. With summer air conditioning season coming up, the UNG ETF daily chart, below, at least offers a...

27Apr11:43 amEST

New World Beneficiaries

Even as various states across the country lay out plans for a gradual reopening of businesses and way of life there can be little doubt at this point that it will still take a fair amount of time for us to get anywhere close to life as we knew it back in the good ole days of February. The same can be said even more for businesses, as I suspect...

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