A Rare Slow and Steady Race

21Sep3:52 pmEST

Guess Who's Coming to a Fast Casual Dinner?

Jim Chanos (pictured top left with game face on) went out of his way today in his bearish burger thesis to note that he was not short Shake Shack. All kidding aside, Chanos is a bonafide legend on Wall Street and has earned that reputation fairly and square--Just do some research about his Enron short. Interestingly, he is avoiding SHAK on...

21Sep1:26 pmEST

Should Bulls Quit Doing Drugs?

It may seem like biotech bulls are a bit too giddy here and should stop doing drugs , what with the rest of the tape mixed and slow. However, the XBI (ETF for small/mid-cap bios) suggests a retest of prior $91.10 highs makes sense--Charts like to probe major prior levels. Beyond that, plenty of individual bios are setting up well behind...

21Sep10:51 amEST

From E. coli to D-Day for Chipotle

It has been a tumultuous couple of years for both Chipotle Mexican Grill and Bill Ackman. Separately, both brands have suffered hits to their mystique, with CMG's broad market leadership status tumbling with its share price from $758.61 two summers ago to a recent low of $295.11. Amid the downtrend, we saw E. coli, Norovirus outbreaks to add...

20Sep3:51 pmEST

Stock Market Recap 09/20/17 {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...

20Sep3:49 pmEST

You Never Got it Down

I am holding off on judging the post-FOMC action too much today, thanks to the bounce we have seen which neutralized the initial bear arguments, for now at least. If we come in tomorrow and see some aggressive follow-through lower, I would view that as a change in character. But at the moment, we have some expected Fed Day shaking and baking. ...

20Sep1:26 pmEST

Don't Forget Your Jump to Conclusions Fed Day Mat

Despite the major averages not giving the impression of too much action today, some sectors like energy, materials, biotechs, and transports are inspiring bulls. Nonetheless, it is worth reiterating that we have a known, defined risk event at the bottom of the hour through the end of the session today in terms of the FOMC, the Fed forecasts,...

20Sep10:52 amEST

That Movie Where Schillinger Plays a Pregnant Teen's Father

On the back of some positive news from Alnylam Pharmaceuticals, Inc. (ALNY) this morning, plenty of mid-cap biotechnology stocks are making some noise in front of the FOMC later today. Clearly, quite a few names in the XBI (ETF for small and mid-cap bios) have been impressive insofar as not giving back much of recent rallies. And the prospect...

19Sep3:52 pmEST

Stock Market Recap 09/19/17 {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...

19Sep3:51 pmEST

Equifax: It's a Long Way Down

With more bad news likely to come for EFX, combined with this monthly chart steep uptrend only beginning to break, there are too many "breaches" for me to think we are close to a buy-the-blood moment for anything more than a scalp, if that. As for the market at-large, bulls can claim a minor victory today in a calm session leading up to...

19Sep1:26 pmEST

A Rare Slow and Steady Race

One of the more interesting aspects about the price action in most materials and miners (precious and non-precious) over the last several weeks has been the decidedly orderly nature of the consolidation after previously rallying into the end of summer trading. After all, we are talking about a group of sectors related to commodities, where the...