Weekend Overview and Analysis 05/21/23 {Video}

02Jun10:26 amEST

The Pause That Wouldn't Refresh Anything

A strong jobs report for May is sending the Dow and a bunch of sectors which have been lagging higher with rates and the Dollar. Meanwhile, tech, biotech, ARKK, and chips are mostly red as bulls continue to look for a "pause" in the rate hikes from The Fed later this month at the June 14th FOMC. Bulls also argue, alternatively, that even if...

01Jun11:29 amEST

It's Only Degeneracy When Charlie Munger Says it Is

I must say that I find it a bit rich (richer than a Dairy Queen Blizzard, indeed) to see a slew of articles in recent months with an, "aw, shucks" vibe about Charlie Munger's "Alibaba Mistake and how to learn from it!" In particular, Munger has been a sharp-tongued--unforgiving and even downright--critic of most things speculative, be it...

31May10:51 amEST

Check the Forecast Before Any More Bookings

Booking Holdings (BKNG), below on the daily chart, actually printed new all-time highs just two weeks ago. Since then, as you can see, the stock has headed straight downhill. Formerly Priceline.com, Booking has clearly been a monster winner since 2009 as one of the poster children for a QE/ZIRP world, and then the "stimmies" of the pandemic...

30May10:48 amEST

The Same Battlefield Formation

Surprise, surprise. Chips and NVDA are leading the charge higher, while small caps, retail and China names (KWEB ETF, e.g.) are all red as I write this. We have profiled these divergences quite a bit lately. And I recognize that tech bulls are simply responding with a, "So, what?" view to the whole deal. But my view that the move in NVDA and...

28May11:09 amEST

Weekend Overview and Analysis 05/28/23 {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...

25May10:37 amEST

Where There's Smoke, There's...Divergences

Another day, another session of glaring divergences which bulls are clearly mocking due to shares of NVDA launching a rocket to the moon and trading about 25% higher as I write this. Still, small caps in the IWM ETF are down by nearly 1% right now after shedding 1% yesterday, and rates and the Dollar continue to push higher yet. High yield and...

24May11:09 amEST

When Pride Still Mattered

Back when pride still mattered even the most cutthroat of politicians would be willing to strike a bipartisan deal on something like the debt ceiling headed into a somber, flag waving holiday like Memorial Day weekend. But times are different now. And I have seen very few people even remark about trying to get a deal done lest we spoil the...

23May12:26 pmEST

The United States of Credit {Video}

In the following video we analyze the weakness in MasterCard (MA) and Visa (V) today and what it means overall both for those stocks and the market and economy at-large.

22May1:28 pmEST

It's a Free Country, Brother

Last year I penned a blog post where I wrote that Starbucks had substantial downside. Clearly, that was wrong as the rally in 2023 as SBUX opened the year at $100.56 and went as high as $115.48 on May 1st. However, viewing the updated quarterly chart, below, as the great liquidity drain from markets has seen various long-term charts extend up...

21May10:05 amEST

Weekend Overview and Analysis 05/21/23 {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...