MarketChess
Showing articles 261 - 270 (6636 total)
04Jan2:24 pmEST
Choose the Right Dip in 2024
One of my early observations about the tape this morning on the private Twitter feed for Members was that the market had the feel of coasting into tomorrow morning's jobs report. In other words, after selling off for the first few days of 2024, after previously melting up to cap of 2023, a bit of a mixed, drifting session was likely in order...
03Jan10:25 amEST
Bears Should Come to Broad and Wall
“If Santa Claus should fail to call, bears may come to Broad and Wall.” -Stock Trader's Almanac's founder, Yale Hirsch Beyond representing one of those catchy one-liners folks in involved with markets love to say and hear, there is actual historical evidence that the new calendar year may spell trouble for bulls if the "Santa Rally" period...
02Jan10:30 amEST
Slow Your New Year's Roll
Just as folks quickly become bored or impatient with their new year's resolutions (e,g. to hit the gym more), it is quite easy to burn yourself out as a trader after the holiday season if you hit the ground running too quickly once the calendar flips. Case in point: We are actually still in the midst of the "Santa Rally" period on Wall Street,...
29Dec1:47 pmEST
One Final Chart for 2023
Courtesy of Hi Mount Research, the chart below has been making the rounds on Twitter of late. Here we can see that when we have excessive equity exposure, on a historical basis, by households, it leads to prolonged periods of sideways/down markets as a contrarian measure. There can be a little of a lag before this kicks in, as we saw with the...
28Dec1:36 pmEST
Holiday Malaise
We are right smack in the middle of that awkward period where Christmas is clearly in the rear-view mirror, with leftovers having been exhausted and playing Christmas music seems out of place, but New Year's is still a few days ahead of us and the calendar has not yet flipped. It is still the holiday season, for all intents and purposes, but a...
27Dec3:22 pmEST
I Feel Sorry for Your Latte
Starbucks continues to act poorly into the final days of 2023, a surefire sign that fund managers have little interest in having the name on their books. For a good while now, we have noted the SBUX relative weakness both here and with Members. Despite that, on the long-term SBUX quarterly chart, updated below, the major uptrend for years is...
26Dec2:02 pmEST
Putting Out a BOLO This Week
I am putting out a BOLO this week. Used mostly by law enforcement, BOLO is an acronym that means "be on the lookout." And when we note that this final holiday week of the calendar year tends to, usually quite handily, be the lightest trading volume days of the year, we simply must be aware of trading stocks which normally are not considered...
24Dec11:15 amEST
Merry Christmas to You from Market Chess
All the best for a safe and happy holiday week. Eat, drink, and be merry. I did a holiday video for Members today, worth a look. In the meantime, enjoy Rod Stewart's Christmas concert.
21Dec12:16 pmEST
Let's Just Chalk it Up to Cultural Differences
The "Santa Rally" is an actual and seriously tracked phenomenon on Wall Street, not just some urban legend. It officially starts tomorrow, since the market is closed on Monday for Christmas. In a way, it almost seems like an entirely different market culture during the holidays. Specifically, the Santa Rally is the last five trading days of...
20Dec1:21 pmEST
Quite the Picture
Freeport-McMoran, the domestic (Arizona-based) molybdenum producer with tons of copper and gold exposure, too, used to be one of the most prominent stocks in the entire market about thirteen-fifteen years ago. Back then, we had some ephemeral inflation head-fakes, where folks keyed off FCX for inflationary tells during its exhilarating...
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“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
