Oil: I Want This Done By the Book

06Aug12:41 pmEST

Saturday Night at Market Chess Cinemas

Shot in black and white, the crime/drama noir The Man Who Wasn’t There (2001) is probably one of the more overlooked and under-watched films which Joel and Ethan Coen have written and directed. The cast is first rate, including Billy Bob Thornton, Frances McDormand, and the late, great James Gandolfini. The film makes for a solid summer...

05Aug1:13 pmEST

Bristol-Myers Squeamish at Prior Highs

Although its cancer treatment failing to meet its goal in a lung cancer trial is the obvious reason for BMY's stock getting drilled 15% today, it is worth looking at the long-term chart and understanding that these types of moves seem more likely than usual for the name, On the monthly chart, below, the healthcare titan rallied directly into...

05Aug10:59 amEST

It's Not Risk on, Risk off: It's Rates on, Rates Off

Unlike previous market cycles where we would see a "risk on" and "risk off" alternating pattern, with the Dollar surging and deflation the de facto concern as equities and commodities were pummeled (and vice versa when the Dollar sold off) in unison, this cycle is hinting at something slightly more complex. In fact, with this morning's jobs...

04Aug3:44 pmEST

Stock Market Recap 08/04/16 {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...

04Aug3:43 pmEST

Time to Negotiate Some Jobs

In front of PCLN earnings tonight, then the jobs report tomorrow morning before the bell, stocks remain in a very narrow range dating back to July 14th on the S&P 500 Index. Much like Tesla Motors, which is still stuck in its own multi-year range, PCLN is a market leader which has actually been sideways since early-2014, too. On the monthly...

04Aug12:58 pmEST

An Arbitrage Play of Sorts

Along with Disney, McDonald's is quietly turning in a lackluster performance in the market. Just as with DIS, MCD may be suffering the effects of a long in the tooth multi-year bull run, as the seemingly can't-miss blue chip name has noticeably lagged other fast food players like JACK QSR YUM since Memorial Day. But one name have played...

04Aug10:41 amEST

Close Range Photography

Tomorrow morning's jobs report may very well prove to be the excuse this rangebound market at all-time highs needs to commence its next directional move. On the S&P 500 Index daily timeframe, below, note the Bollinger Bands "pinched" after the narrow sideways movement since mid-July. From periods of compression in the market often come...

03Aug4:41 pmEST

Stock Market Recap 08/03/16 {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...

03Aug3:39 pmEST

I Don't Want You to Be the Guy in the PG-13 Movie

The "Three Day Rule" (previously discussed as a general rule of thumb for avoiding the knife-catch on names which have seen monstrous earnings gaps, for at least three sessions) for Twitter since its latest earnings quagmire has now come and gone. The stock is actually surging today on the back of some vague buyout rumors this morning,...

03Aug12:53 pmEST

Oil: I Want This Done By the Book

With inventory out of the way for the week, crude oil is staging a fairly impressive rally into the New York lunch hour. No one can say for sure whether the worst is behind us with regard to the entire energy complex. But for a near-term trade the USO ETF, below on a zoomed-out hourly chart, shows a very steep falling channel now seeing price...