Go with Plan Z

04Mar12:55 pmEST

Update on LinkedIn and What it Means for the Broad Market

LinkedIn, a chic pick to assume a leadership role throughout last year, heading into 2016, was cut in half beginning around last November and culminating with a horrific post-earnings gap down in early-February. Without strong leadership, it is tough to see much meaningful upside sticking on the indices. As we noted throughout 2015, even...

04Mar11:04 amEST

If We're Gonna Throw Down, Then Let's Throw Down

The market rally has yet to give up the ghost, with another soft open fumbled by bears off the jobs number. The Nasdaq is lagging again, but small caps continue to push higher yet, ignoring overbought readings and likely inflicting some type of near-term "pain trade." In addition to extreme strength in the global mining/materials complex,...

03Mar5:11 pmEST

Stock Market Recap 03/03/16 {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...

03Mar3:34 pmEST

I Cannot Believe This is Happening in Our Country

That's right. I cannot believe that Twitter's chart is actually putting in what looks to be a confirmed inverse head and shoulders bottom on the daily timeframe, outlined below. Pending today's close at least over $19.05, bird is the word, along with its laggard buddy, GPRO, also rallying. FIT is still a fine mess, though, soundly in the red....

03Mar12:48 pmEST

Fishing in Shallow Waters

Working our way through the New York lunch hour, we have another fairly slow day on our hands. Good action in the precious metals and miners, as well as materials in general, are outpacing the lagging biotech and "FANG" stocks. The net result is a mixed bag, with volatility staying soft. One of our key for this afternoon is the 30-minute chart...

03Mar10:45 amEST

Presenting the Goldcorp Test

After getting slammed last week into a post-earnings gap down, gold miner Goldcorp has since recovered a bit, at least stabilizing and moving higher with the precious metals and mining complex this morning. Much like GFI a few weeks back, a good litmus of whether a sector has indeed bottomed is when we see improved price action which sees a...

02Mar5:27 pmEST

Stock Market Recap 03/02/16 {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...

02Mar3:04 pmEST

A Word on Aubrey McClendon and Chesapeake Energy

Reuters Business just tweeted, via CNBC, that the ex-CEO of CHK died in a car wreck, a day after being indicted. Reuters Business @ReutersBiz BREAKING: Ex-Chesapeake CEO McClendon dies in a car wreck day after indictment: CNBC Putting the tragedy and fall from grace of the situation to one side (McClendon was considered a legend by many back...

02Mar12:47 pmEST

Slow Action

Stocks had a few chances to outright crack this morning, but underlying bids in biotech and she financials seem to be helping the cause for at least a benign consolidation of recent gains in lieu of a sharp giveback. I am still treading lightly and tightly, watching the SPY Hourly chart, below, hit its upper resistance rail of the rising...

02Mar10:36 amEST

Go with Plan Z

The morning action is shaping up to be as blurry and nebulous as the photo above of the obsolete Zima drink. But the Zika Virus plays, INO and XON, are off to a healthy start. On their respective daily charts, below, both biotech/pharmas are working through potential inverse head and shoulders bottoming formations. If their morning strength...