If You Like it Then You Should Put a Ring on It

29Oct12:28 pmEST

Should You Play Vegas with This Pro?

The post-earnigns selling in GoPro sure does feel like overkill for what has been one of the more heartbreaking momentum stocks in the market, dating back one full year now. When we observe the chart since the firm's IPO, below, note how price has now undercut those prior lows. As tempting as it may be to declare that enough is enough, and a...

29Oct10:39 amEST

A Steady Chase, Up and Down

Into the end of month/fiscal year, we are seeing biotechnology stocks continue to push higher, with the IBB ETF up more than 1% as I write this. To be sure, the overall structure of the IBB chart remains corrective on may fronts. But as we have been discussing with Members it has likely been correct to back off the short side for the time...

28Oct4:55 pmEST

Stock Market Recap 10/28/15 {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...

28Oct2:51 pmEST

Reversal of Fortune

As is the norm on "Fed Days," we have seen many whipsaws and violent moves across virtually all asset classes. Headed into the final hour of today's session, I have my eye on the weak Euro, especially versus a strengthening U.S. Dollar. In addition, the precious metals and miners have seen a reversal of fortune akin to Claus von Bülow, with...

28Oct12:45 pmEST

A New Squeeze

Headed into the FOMC Announcement, after 2pm EST today, small caps are continuing to squeeze and reverse their underperformance in recent sessions. The IWM, small cap ETF, initially ripped up through the $116.15 level above which has been acting as resistance. It will be interesting to see if buyers can maintain the strength after the...

28Oct10:38 amEST

Old-Fashioned Musical Chairs Before the Fed

Headed into another big FOMC Announcement later today, small caps are looking to recoup recent losses from their relative underperformance to the major indices. Transports, however, remain weak. And biotechnology stocks, which led yesterday, are lagging this morning, in part due to GILD selling of a bit after earnings. But beyond that, the IBB...

27Oct4:58 pmEST

Stock Market Recap 10/27/15 {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...

27Oct2:36 pmEST

Natural Gas: Hey Stifler, How's the Pale Ale Taste?

When it comes to natural gas, we know the commodity has been mired in a bear market for years now. Nonetheless, bear markets often feature some profitable snapback rally opportunities, usually because of the spirited, violent, squeezing (albeit short-lived) nature of the counter-trend. Indeed, this was the case in 2013 and 2014, even the first...

27Oct12:34 pmEST

You're Not Out of the Woods Yet

To follow-up on a blog post from yesterday, it is not likely that energy stocks have put in a convincing bottom as long as the likes of Chesapeake Energy continue to see what looks to be liquidation on a daily basis. Earnings on November 4th could turn the tide. But the weekly chart, below, still shows a ferocious downtrend and does parallel...

27Oct10:30 amEST

If You Like it Then You Should Put a Ring on It

The small caps in the Russell 2000 Index continue to be a drag on the action, again leading the market lower this morning. We have been tracking the "diamond" consolidation, highlighted below on the Russell ETF, as offering good context as to the recent price action and the underperformance versus the Nasdaq, S&P, and even the Dow. The diamond...