MarketChess
Showing articles 5871 - 5880 (6612 total)
03Apr11:39 amEST
Good Friday; Bad Reaction
With U.S. cash markets closed today, futures took a dive this morning with the jobs number missing expectations by a mile...or twenty . What is interesting is that we are seeing a "bad report, bad reaction" for the first time in a while, with the market not rallying on the "bad is good" idea, at least for now--I recognize we have a long way...
02Apr3:42 pmEST
Springing Into Action After a Dark Winter
I am reluctant to take on more commodity exposure into a long, three-day weekend, not to mention a jobs report tomorrow morning while the market is closed. However, it is interesting to see the soft commodities finally stage an impressive rally, all the while the U.S. Dollar continues to work off its steep run in recent months. Recall that the...
02Apr2:58 pmEST
LUV This Position Short Time; Chess Moves
I decided to add to my open LUV short here, at $42.94, from my initial entry yesterday at $43.44. My cover-stop remains above $45 on a closing basis. Southwest Airlines is showing more signs of being a bit sluggish after a breathtakingly steep multi-year uptrend. Regardless of how oil acts from here (a clear input for airlines), I am...
02Apr2:10 pmEST
On the Lookout for Sloppy Seconds
After selling the remainder of my X long earlier this week to lock in that win, steel stocks are back on watch for fresh long entries and could easily be setting up again into next week, Too often in the market, traders eschew stocks once they have traded them, opting to move on to new tickers. However, it is often fruitful to keep tabs on...
02Apr1:25 pmEST
Closing Out Two Modest Wins; Chess Moves
While not too dramatic, the short biotech trades I put on this week did the trick. Into the long weekend, I will flatten out and potentially look to hop back in next week, if the situation is correct. Thus, I sold the remainder of my BIS long (ultra-short biotech sector ETF) just above $35 from my $34.11 entry to lock in the rest of that...
02Apr12:39 pmEST
A Holy Chart Into a Holy Weekend
Headed into a long, three-day holiday weekend, I am still holding half of my BIS long, which is the ultra-short biotechnology sector ETF. This is obviously a bearish bet on the biotech sector. I took partial profits yesterday into the weak open, at $36.05 from my $34.11 entry (noted in real-time in this blog post ). At issue is whether I...
02Apr12:05 pmEST
Another Few Laps at Adult Swim; Chess Moves
I went long UGAZ at $2.42 with a protective stop-loss below $2.20. UGAZ is the triple-levered long ETF for natural gas, derived from UNG, the straight-up natty ETF. I have been fortunate to lock in some big wins in UGAZ this year, notably in February, despite the steep downtrend natty has been--As I have noted before some of the best rallies...
02Apr11:05 amEST
Quick Morning Update
Let's return to that SPY chart we have been updating, the zoomed-out hourly timeframe below. Note that bulls lost $207 Tuesday and Wednesday a level we thought they needed to defend, short-term. Nonetheless, price bounced off the major support trendline, horizontal light blue, dating back well over a month. I am watching that $207 are above...
01Apr4:34 pmEST
Stock Market Recap 04/01/15 {Video}
The following video contains coverage of relevant broad market issues (for equities) in addition to plenty of actionable trading ideas across other asset classes. Feel free to pick and choose which ideas and parts of the analysis fit your style. Always properly manage your downside portfolio risk for any trades taken. Enjoy tonight's...
01Apr3:41 pmEST
Chess Move Into the Bell
I sold the DWTI day-trade long here at $115.25 from earlier $112.38 entry. I will not swing short crude oil here overnight, but rather look to hop back in only if there is any downside traction tomorrow. Overall, partial profits in GILD IBB NUGT made for good trading, as I sold my equity long JUNO X yesterday and locked in those wins. See you...
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About
“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
