Improper Topping Action...or Basic Heartburn

02Oct10:45 amEST

That'll Slow You Down

While certainly not representative of the entire market, the persistent weakness in the small and micro cap stocks this morning in the face of oversold conditions (not to mention a sizable selloff yesterday) is enough to force me to reduce my long exposure, taking down wins where I have them and cutting losses while they are still contained. ...

01Oct4:17 pmEST

Stock Market Recap 10/01/18 {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...

01Oct1:12 pmEST

Always Drink Upstream from the Herd

In today's Midday Video for Members, we will flesh out specific ideas regarding the XOP ETF, second below on its daily timeframe, as the exploration/natural gas plays in energy continue to thrive. That XOP strength is juxtaposed with the IWM small cap weakness, seen below on the first daily chart. Note the touch and reverse down off the 50-day...

01Oct10:40 amEST

Rays of Hope for a Turnaround

It has been a while since we updated retail sportswear play, Under Armour. On the daily timeframe, below, one aspect of the chart which stands out of late is the strong pattern of buy volume, denoted on the bottom pane. With consistent spurts of upticks in big buy volume bars, the stock seems rather comfortable holding over $20, which seemed to...

29Sep10:51 pmEST

Saturday Night at Chess Cinemas

Simply put, Leaving Las Vegas (1995) is a beautiful film. You may hear others use different adjectives, such as "sad," "depressing," even "gross," but there is no denying the quality of the character development. And there is certainly no denying the powerful performances by Nicolas Cage and Elizabeth Shue. The soundtrack is legendary, and...

28Sep10:03 amEST

Reminder: Your Quirky, Charismatic CEO is a Double-Edged Sword

News of CEO Elon Musk being charged with fraud by the SEC is sending shares of Tesla down hard this morning, off by 11% as I write this. While it remains to be seen just how harshly Musk is actually punished, we traders ought to be far more concerned about the notion of getting involved with TSLA in any way, shape, or form as long as the...

27Sep3:05 pmEST

LaCroix Might Be Worth LaRisk Again

Multiple bullish factors seem to be lining up for longs regarding LaCroix or La Croix, the trendy. sugar free flavored sparkling water distributed by National Beverage Corp (FIZZ), with the parent company's daily chart updated below for you. First and foremost, an announcement regarding cannibas infused LaCroix can come at any time now in the...

27Sep10:48 amEST

We've Got Spirit; Yes We Do

Spirit AeroSystems, Inc. can be seen as one of the more overlooked aerospace and defense plays. Based in Wichita, SPR builds several important pieces of the Boeing aircraft, including the fuselage of the 737, portions of the 787 fuselage, and the cockpit section of the fuselage of nearly all of its airliners. Indeed, SPR is a key piece of the...

26Sep4:49 pmEST

Stock Market Recap 09/26/18 {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...

26Sep3:02 pmEST

Improper Topping Action...or Basic Heartburn

While I am not going to say that the post-FOMC reaction, thus far, has been wildly bearish, the initial move higher does smack of a bit of an offsides move by bulls. Moreover, the small caps in the Russell 2000 Index continue to struggle as I write this. And I am going to want to see a strong final hour from them in order to become aggressive...