Weekend Overview and Analysis 06/30/24 {Video}

11Jul11:35 amEST

I Want My Deflationary Steak!

I have been holding my bond short (via long the TBT ETF) for what seems like a decade or two. So, the silver lining to this morning's rally in bonds and selloff in rates off the cool CPI print is that I still have some modest profit cushion on the position. However, rates, homebuilders, small caps, and banks are all rallying on the move in...

10Jul2:05 pmEST

Do They Even Remember How to Rally?

Uranium names are red hot today. However, I know many times over from recent quarters just how slippery this sector can be. While I am wildly bullish on uranium (and most commodities) looking out the next decade, I recognize that we have to see it to believe it in the here and now, insofar as these rallies holding and building on themselves....

09Jul12:04 pmEST

Aftermath of a Memorial Day Massacre

In the wake of Memorial Day this year there can be little doubt that the software stocks staged a massacre of shorts into last Friday's highs, spanning roughly five weeks of nonstop ripping to take the sector back to its early-February highs. The IGV, ETF for the software sector ETF, illustrates as much on the daily chart, first below. As a...

08Jul2:01 pmEST

Two Diamonds in the Rough

I have been fairly sour on biotechs for a long while now, and for good reason: The IBB and XBI sector ETFs have largely lagged at many junctures, defying many bold calls for an imminent rotation. That said, Madrigal and Mannkind, respectively below on their daily charts, are in two hot areas of biotech. More importantly, it is hard to quibble...

07Jul11:27 amEST

Weekend Overview and Analysis 07/07/24 {Video}

The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend 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. Please click here for more...

05Jul1:38 pmEST

Who is Getting Bitconned Now?

First and foremost, the new Netflix documentary, "Bitconned," regarding the real life story of Raymond Trapani and his "associates" at Centra during the crypto ICO mania years ago, was highly entertaining and certainly worth the watch. Trapani reminds me of a few guys I knew growing up in Bayonne, New Jersey. And, without giving away the...

03Jul12:33 pmEST

Afternoon Update 07/03/24 {Video}

02Jul12:09 pmEST

Sneaky Strength

Headed into this week, we noted with Members in my usual Weekend Strategy Video that we could easily see a low volume, drifting affair in markets leading up to Independence Day on Thursday, alongside markets closing early tomorrow at 1pm EST. Indeed, the jobs report Friday morning looks to be the next known event which markets may be on cruise...

01Jul11:04 amEST

The Pain Trade in Rates is Still Higher

Here at Market Chess we tend to follow-up on our bad calls, updating them and keeping readers and Members apprised. Because of that, there is a tendency for some to focus on those bad calls, as opposed to others who either conveniently ignore them or pretend that they are always winning instead. The reason why I raise that issue is because one...

30Jun10:04 amEST

Weekend Overview and Analysis 06/30/24 {Video}

The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend 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. Please click here for more...