MarketChess

24Oct2:53 pmEST

Tesla Jumps, But Small Caps Should Be Rallying Too

As Tesla stages an impressive 20% pop after earnings today it is interesting to see the small caps in the Russell 2000 Index red as I write this, into the late-afternoon portion of the session.  Given that rates on the 10-Year are dipping a touch below 4.2% today, on top of the momentum players galvanized with TSLA, one would think that the IWM...

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23Oct1:57 pmEST

Hey Jensen, Want to Autograph My Jenga?

Trading at roughly $3.4 trillion (with the "T") market cap and a forward PE over 33, NVIDIA's technicals also remain historically steep on long-term timeframes, almost analogous to the Dutch Tulip Mania and South Sea Bubble when viewing the quarterly chart parabolas.  But we have known that for a good while now. Thus, the pertinent issue right...

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22Oct1:32 pmEST

They Threw the Baby Out with the Tidewater

Offshore energy play, Tidewater, below on its updated daily chart, is just one of many examples in the energy space of cheap (based on valuation) and clearly out of favor stocks which have been pummeled not only in recent months, but also have been overall dead money (sideways) since the 2015 energy bear market. TDW, itself, has earnings within...

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21Oct1:58 pmEST

Royalty is Coming to America

After the run the precious metals and miners have had it is completely logical to wait for a lower risk entry on the long side. However, as we know, markets these days, especially, can be anything but logical. With rates spiraling higher again today, here are two reasonably non-extended precious miner-related plays, below, on their respective...

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18Oct3:34 pmEST

Afternoon Update 10/18/24 {Video}

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17Oct2:45 pmEST

Markets Used to Be Hard-Nosed and Tough

...And they will be again. For now, we have another slow session, as the Nasdaq fades well off the highs despite a massive move up in TSM after earnings.  On that note, tonight we have both ISRG and NFLX reporting, respectively below on their quarterly charts. Intuitive Surgical, with its robotic surgical device, trades at around a forward PE...

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16Oct12:27 pmEST

As Long as the Market is Exuberant, Let's Learn to Love the Bomb

Amazon made waves (no pun intended) this morning with a headline flashing pre-market that the iconic, innovative firm plans to invest $500 million to develop small modular reactors.  As you might imagine, the entire nuclear and uranium space shot up on the news and is still right near session highs virtually across the board as I write this....

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15Oct2:54 pmEST

Get Your ASML Out of the Road

Earlier in the session the Dutch-based semiconductor ASML saw its earnings number leak online. The firm cut sales and guidance numbers, to the point where the CEO felt it necessary to try to assuage fears from market players. Still, as I write this into the final hour we have ASML down 17%. Previously, we noted ASML as an actionable short idea...

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14Oct2:05 pmEST

A Tell on the Bond Market Pain Trade

Today is Columbus Day, which is federal holiday in the U.S.. And that means government offices and banks are closed. The bond market is also closed for the holiday, but the New York Stock Exchange and Nasdaq are both open and functioning normally today. Well, at least mechanically they appear to be.  As far as sentiment, it is more of the same...

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11Oct3:01 pmEST

Afternoon Update 10/11/24 {Video}

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