Flat as We Head Towards Pancake Day

11Mar11:48 amEST

Name Another Semiconductor Stock Which Can Get Bought for $7 Billion

News of chipmaker Nvidia (NVDA) buying Mellanox (MLNX) for $6.9 billion to accelerate its push into the data center looks to be more than enough of a bright spot for bulls this morning to offset the awful Boeing news and sizable gap down. In fact, the NVDA for MLNX is seeing shares of NVDA rally, too, which is often a particularly bullish sign...

10Mar12:55 pmEST

Sunday Matinée at Market Chess Cinemas

Inspired by the 1966 British film of the same name and its 1975 sequel, Alfie (2004) is currently available on Amazon Prime and is highly recommended. The film stars the talented and entertaining trio of Jude Law, Marisa Tomei, and Omar Epps. Although the film did not draw rave reviews from critics (but was far from a critical flop, too), I...

08Mar3:03 pmEST

It's Déjà Vu All Over Again {Video}

As equities finally slumped, it was a strong week for gold miners in the face of U.S. Dollar strength. We have seen this before, though, without too much in the way of sustained upside. Is it déjà vu all over again? We examine that issue in the following video, where gold bugs have another excellent opportunity.

07Mar10:50 amEST

Objective Observations

A sizable opening push lower in the broad market is driving home the message that this tape is still correcting part of the two-month rally since Christmas. In front of a widely-anticipated jobs number tomorrow morning, bears are wrestling for the initiative with plenty of technical reference points on the line, having prevented bulls from...

06Mar3:34 pmEST

Stock Market Recap 03/06/19 {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...

06Mar3:29 pmEST

Quite the Straight-Line Path

A wide spread between the glaring weakness in the IWM, ETF for the small cap stocks housed in the Russell 2000 Index, versus a large cap tech "FANG" name like NFLX today (currently up by more than 1%) is just one feature of a market likely correcting a one-way rally since Christmas. Recall that during the post-Christmas rally we saw the FANG...

06Mar11:10 amEST

When All Else Fails, We Go Gambling in Macau

On the back of some gaming numbers out of Macau which showed revenue rebounding slightly in February, two of the more intimately-related Macau gambling plays are faring rather well this morning. Both LVS and especially MLCO (a pure play on Macau as opposed to Las Vegas Sands) are notably green in a weak overall tape. Of the two, MLCO is the...

05Mar5:26 pmEST

Stock Market Recap 03/05/19 {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...

05Mar3:35 pmEST

There's a Lot Going on Here

Much like in the painting above, there is an awful lot going on in this market right now. Specifically, the rise in speculative fervor for particularly high beta, riskier parts of the market like pot stocks, China internet names, and those infamous blockchain/crypto plays back in focus for hot money traders. To be sure, it remains to be seen...

05Mar10:37 amEST

Flat as We Head Towards Pancake Day

In light of yesterday morning's aggressive downside reversal in tech and biotech, combined with CRM's milquetoast reaction to earnings, I flattened out and am still of the view that many key growth stocks consolidate in the near-term. (Incidentally, and speaking of "flat," National Pancake Day is held annually on the second Tuesday in March,...